Member Info for Richard365054

Rob, more PPI provision is shocking news as it reduces the amount of dividend I will be paid in this financial year and also indicates there are some well paid clowns on the BOD.

Hi Chancer. Lloyds set aside £600 million in February and you have corrected me for April, £90 million, not £80 million.

Hello Freya. Always good to hear from you. Some months ago I wrote to the SFO asking them to investigate Lloyds over the PPI scandal. No reply so they weren't interested. I think too many friends in high places and the implications would have been immense for the banking sector.
Now just about to open a nice chardonnay and enjoy a good read.

A little under two years ago the BOD categorically stated there would be no further PPI provision. We've had probably six or seven additional amounts set aside since that time and about £680 million alone so far this year. My own estimate is a further £1 to £1.25 billion between now and the cut off date in August 2019. Some posters on here stated that Arnie's campaign would only produce a small blip in new claims. I think the blip will just continue as long as the claim window is open and further show what lousy judgement the BOD have shown about this debacle.

I very much doubt this share will go anywhere until there are confirmed reports that the UK has achieved a Brexit agreement with the EU. Like it or not, it's uncertainty that is holding this share back. Eight years ago, before the referendum was a twinkle in anybody's eye this share was trading 10% higher.

I very much doubt this share will go anywhere until there are confirmed reports that the UK has achieved a Brexit agreement with the EU. Like it or not, it's uncertainty that is holding this share back. Eight years ago, before the referendum was a twinkle in anybody's eye this share was trading 10% higher.

It's a 1967 Mini Cooper S that I've owned for over half it's life. Terribly pampered, stripped down to a bare shell and rebuilt and better than the day it left the factory. Sliding windows, wipers that you have to park manually and a manual pump for the windscreen washers. All the mod cons really and the better for it!! Drives like a little go kart and children wave at it wherever it goes. Took it on a rally to Monte Carlo and been to Goodwood before so it sort of knows where it's going. There's another one in the same garage that I used to race and that's being stripped down already in preparation for a rebuild. It's just a little bit harder getting underneath them these days and i don't really know why !!

Well Freya, I'm out in the sunshine, sort of, but under my old car getting it ready to take down to the Goodwood Revival in September. You know, I think, that I live in the Lakes so it's a long drive down to the south coast and since the car is over 50 she will be treated a little gently.

I've no issues with hydrogen cars. For years we've had gas conversions available and they work well. The problem still seems to be producing sufficient hydrogen but you'd think it was a viable sollution. Lugging around three quarters of a ton of batteries seems ridiculous, let alone the pollution through the mining of lithium and the ecological damage it has caused in third world countries. China is the largest market for electric cars yet they charge them from electricity produced from coal fired power stations. Ludicrous.

Hi Freya, nice to have you back on here. I've always missed you when you've disappeared.

I was in Detroit last September and you see a lot of Mustangs, Corvettes and Camaros. Big rumbling V8s and not surprising when petrol prices are half what they are in the UK. The build quality and refinement aren't great but you get a lot of bang for your bucks, as the Americans would say.

Bosch have been doing a lot of work with diesel engines lately, repositioning components particularly the catalytic converter to be more efficient. They've been running a diesel Golf on real world tests and getting particle levels under 20 milligrams. This is a huge reduction and coupled with low consumption and CO2 levels they should be getting much more usage by major manufacturers.

Unfortunately, governments lie and mislead the public and the accolades given to electric vehicles mask a lot of hidden facts that are not publicised. The mining of lithium, principally in undeveloped countries, is hazardous and extremely polluting. Many electric cars carry a battery pack weighing three quarters of a ton and the CO2 produced manufacturing these vehicles is considerably greater than a conventional car. Their finished weights of well in excess of two tons mean they produce a lot of particle matter from tyres and these are a major contributor to poor health. In the meantime conventional vehicles are demonized whereas the salient facts on electric vehicles continue to be glossed over.

When so many people live in flats and apartments and many new build shoe box houses have no drives nd garages just where are people expected to charge the new generation of electric cars and why is it that we are manipulated into believing that pollution we can't see is acceptable.

The Doran ruling is also against the FCA's interpretation so hopefully this won't amount to much. But I think there may be more to come and I am still concerned about what the £90 Million was set aside for in April by Lloyds. Such a strange amount to add to their PPI pot.

You are right about German car manufacturing plants in different countries. I think half of BMW production is away from Germany. The growing market for manufacturing plants will be China.

America was very slow to adapt to producing fuel efficient vehicles, probably because their fuel costs had always been kept very low. But they had to change as European and Japanese cars began to dominate their market. Now many car designs are "world cars" meaning they sell with little change around the world. The Focus we have here is like the Focus in the USA. Plus America loves Porches, Mercs and BMWs and therein lies a problem with Trumps threatened car tariffs.

This is rather old news and I wrote about it several months ago. Not that it isn't worrying. It concerns the Plevin ruling where commission levels above 50% that were not revealed at point of sale on PPI have to be refunded in full, plus interest. This does not affect those policy holders who have been compensated so far, but those who have had their claims turned down and may now be eligible to claim under this ruling. There could be many millions of policyholders.

Two and a half months ago Lloyds set aside a further £90 million for PPI, which was a very strange amount and with virtually no supporting information. I said at the time I wondered if this was to contact all those policyholders who had had their compensation claims turned down but may now be eligible under this new (as of last year ) ruling.

Lloyds typically are not forthcoming on the matter and also don't respond to emails I've sent to ANO requesting further information and figures on PPI.

That's approaching three and a half percent of shares issued. Quite a reasonable slice of the total and significant if the trend were to continue.

I'm happy for you to remain baffled, Jayfax. Summarises you perfectly.

Jayfax, you really can make some very offensive statements -" Brexiteers are busy cheering on the rise of governments far more similar to the Nazis than the ones they replace". There may be a small element who are vòcal in their support for far right extremists, but the majority of people who supported Brexit are well grounded and generous people who have welcomed diversity into their country. They want to have the right to control the sheer numbers who have been coming into this country and not see a population of 80 million by 2050 with all the issues on housing and public services. We're already creaking at the edges and continuing to allow such population growth was one of the principal reasons people voted in the way they did. Secondly, we don't seek further integration into a federalist Europe, with policies proposed by unelected beauracrats. We want a democratically elected Government and if we object to their direction and proposals we want the control and choice to remove them from office.

I don't begrudge compensation at all. Just begrudge the instigators of the fraud walking away scot free. I asked the SFO to investigate, not remotely suggesting they had anything to do with covering it up. But the people responsible still probably still sit on some of the Boards and that is not right.

Interesting how we are so accepting and dismissive of recent amounts set aside for the PPI fraud. We've become conditioned into accepting that an additional �90 Million is pocket change and not worth losing any sleep over. I look at it another way. If the same amount had been added to the year end dividend I would have been well over �600 better off. In my opinion the shysters and the conmen are still sitting on the Boards of Directors around the country. I wrote in detail to the SFO quite recently asking why no Bank Board members had been fingered and didn't even receive a reply. Every extra �1 set aside for PPI comes out of our pockets and the criminals continue to draw their vast salaries and expenses.