They started off life as an early example of a pound shop, except that in those days it was a 3d & 6d shop. Poundland and other similar stores are doing better than they were before as a result of the recession and are expanding, but Woolworths seems to have completely lost the way, and has been performing poorly in both good times and bad times.

They've already vanished in their native America, and completely transformed into a different business in Australia.

Should make my LLC lots of money.

Yours
Vulture Capital Limited

I glanced at the job application form on the counter, they wanted four references.
Most people looking for temporary work at Woolworths will not have four references, they may have one. I thought the only people they will end up employing are liars.

Good riddance to a defunct business culture and failing executives who cant even make a success of one of the biggest brands on the highstreet.

Lets hope the longtime bankrupt US auto industry isnt a bellweather for corporate USA.

It's far worse than bizzare. It is socialism. It is beginning to approach State mediated credit allocation. The harm to the economy will be immense and the corruption of State will be huge. I have *never* known a State which controls credit allocation *not* to become deeply corrupt.

The Dept for the "You too can blame it on somebody else".

Well times have changed and the one thing the government is desperate to do is to inject momentum into the housing and retail markets. And this is how to do it. This example is my own but illustrates the principles well. The same logic would apply to any asset class and any collectible.

I deal in art and art is the only thing I know about. Currently I am not allowed to put art into my pension fund and am forced to watch the fund managers lose a substantial part of my fund investing as they do in the stock markets. Millions of others are in the same position.

It is possible within a SIPP to hold cash and I am more than happy that I saw a crash coming and chose for the last two years to put my pension contributions into a deposit account which has grown by 6% pa. (If I had handed it over to my fund managers I would have lost 25% at least by now)

So I am sitting on cash, like thousands of others. Just what the government doesn’t want.

Imagine that I could buy art for my pension fund. (It is another argument as to why, with my money, at my risk I can't anyway).

Step 1. I take £10,000 out of my SIPP and buy a picture (triggering a VAT benefit to the taxman and possibly increased corporation tax from my supplier)

Step 2. I consign it to my gallery

Step 3. I sell it through my gallery for £20,000 and split the profit (triggering a VAT charge, and a possible corporation tax increase)

Step 4. I put £15,000 back into my SIPP.

Step 5. I take out an extra £5,000 when I draw down my pension, (triggering a personal tax charge)

Obviously Steps 2 to 5 don’t necessarily take place, but it is rather logical and there are several extra tax benefits from this investment with no downside to the government, only to me. And the scenario I have described does suit well those who work in sectors that deal in 'investibles' thus providing potential liquidity that may not be as accessible for others.

I understand that one reason why a relaxation of the restrictions did not occur is that the Inland Revenue was concerned about a lack of expertise for valuations. Well a body of accredited Appraisers would deal with that, following the model in many other countries such as USA.

I am sure there are flaws in my argument and I would be interested to hear what they are.