The Northern Echo
Business Echo FOR THE BEST COVERAGE IN THE REGION www.businessecho.co.uk The Northern Echo TUESDAY, NOVEMBER 27, 2007 NEWS IN BRIEF As stricken lender names Virgin as its preferred bidder: Christmas cheer for cheesemaker CHEESEMAKER Shepherds Rock shares rally,but Purse has secured a contract with supermarket chain Sainsbury’s to trial one of its cheeses over Christmas. The company, based in Thirsk, North Yorkshire, will see its investors want more Monks Folly cheese sold at 39 THE Sainsbury’s stores across the region during the festive period. The mould-rinded soft cow’s By Kate Bowman VIRGIN milk cheese is one of three Business Editor cheeses, including Olde York and Byland Blue, made by [email protected] OFFER Shepherds Purse from recipes inspired by monks in the Middle NORTHERN Rock’s share price ■ Virgin will repay £11bn of Ages. leapt yesterday after announcing the Rock’s loan from the Bank that a rescue team led by Sir of England. The Bank of CONTRACT WIN: Marketing Richard Branson’s Virgin Group England will also be given a agency Adessi, which has was its preferred bidder. “clear path” towards offices in Newcastle and The Newcastle-based mort- repayment in full. Middlesbrough, has won a gage lender confirmed it was now competitive pitch to provide PR ■ Virgin will put £1.3bn into in “accelerated” talks with the the business, while Virgin and marketing services to Virgin-led consortium, which specialist recruitment Money business will support plans to repay £11bn of the esti- Northern Rock. Half of the consultancy, Unity. Adessi, mated £25bn borrowed from the which was recently named money will come from the Bank of England immediately. consortium, with the North-East CIPR Agency of the However, the offer was met by Year, will handle a rebrand for remainder being raised opposition from Northern Rock’s through an offer to existing Unity and help expand the largest independent shareholder. business. Rock shareholders to buy new RAB Capital chief executive shares for 25p each. RETAIL AWARD: The JD sports Philip Richards said yesterday’s ■ The Virgin consortium will store in The Mall shopping events were a “step closer” to se- hold no more than 55 per cent centre, Middlesbrough, was curing the business, but contin- of the company once the presented with the Best Instore ued to press for a higher offer. transaction has been Branding award at the recent Mr Richards said: “We do not concluded. Visual Merchandising and believe that this proposal reflects ■ Northern Rock will be re- Display Awards in London. JD the true value of Northern Rock, branded Virgin, its stock moved to The Mall a year ago and we would expect either that market listing will be retained from its previous site in the this proposal be improved or that and the company will continue alternative proposals be brought town’s Linthorpe Road. DEMANDING ANSWERS: An investor at a meeting of small shareholders in Newcastle yesterday as a going concern without any forward which would combine a break-up of the business. SITE SALE: The former similar repayment schedule for ■ There will be no substantial Clariant manufacturing site in the Treasury together with im- The Northern Rock name customers, Sir Richard said he right solution.” Northern Rock job losses and the business will Darlington Road, proved terms for shareholders.” would also go as part of the pro- was hoping to bring about a would merge with Virgin Money continue to operate from Northallerton, North Yorkshire, RAB Capital’s opposition could posals, with the bank rebranded “fresh start” for the stricken as part of the deal, with Virgin Newcastle. has been sold to a Leeds-based pose a potential threat to the under the Virgin banner. bank. Money chief executive Jayne- ■ Northern Rock Foundation, a developer for £3.3m. The eight- deal. The group has already said Virgin plans to inject £1.3bn In the letter, Sir Richard said: Anne Gadhia appointed to lead charity established in 1997 acre site was put on the market it would block any deal that into Northern Rock in return for “Over the past two months, Vir- the group. when Northern Rock converted when it became “surplus to would not deliver value for a controlling stake in the bank gin has been working hard on a Virgin’s team confirmed it from being a mutual requirements” earlier this year. money for shareholders. and intends to retain most of its proposal to save Northern Rock would continue contributing to organisation, will continue to Clariant is a Swiss-based A letter was sent on behalf of 6,000 staff and continue operat- and rebuild its financial the Northern Rock Foundation – be supported from the profits chemicals company employing Northern Rock’s small share- ing the business from Newcastle. strength. I have been personally the single largest charitable of the company. about 21,500 people on five holders to company chairman The so-called “tripartite au- very committed to finding the benefactor in the North. ■ Virgin will make an continents. Bryan Sanderson yesterday to ex- thorities” – the Bank of England, Bryan Sanderson, who took additional payment of £10m in press fears that directors were the Treasury and the Financial over as chairman of Northern each of the financial years up AMEC WIN: Engineering and planning a “fire sale” of assets. Services Authority – are sup- Rock after Matt Ridley stepped to 2015 that the company’s pre- project management company Robin Ashby, a spokesman for porting the offer so far. down last month, yesterday wel- tax profits exceed £638m – the Amec, which has a base in about 100,000 Northern Rock A spokesman for Prime Minis- comed the deal as “very good aggregate of the profits of Darlington, has won a £13.5m shareholders, the majority of ter Gordon Brown said the bid ap- news” for the group. Northern and Virgin Money for deal to design facilities for the whom are based in the region, peared to meet Chancellor Alis- But the bank confirmed it was the past financial year – for a Atomic Weapons Establishment said: “The Virgin offer is good in tair Darling’s criteria of continuing to explore other op- maximum of five years. at Aldermaston, in Berkshire. parts, but I do not believe that protecting the taxpayer and de- tions as part of its strategic re- London-based Amec’s nuclear this is the best or the final offer. positors, while being consistent view. North-East, and as one of the business will carry out the The way the share price has with maintaining wider financial Virgin’s bid would need to se- greatest philanthropic bodies via work. jumped on Monday morning is stability. cure the backing of Northern its foundation, Northern Rock an indicator the market believes He said: “The Treasury has Rock investors, who have become holds an important position in Inside there is value in Northern Rock.” been making clear that they back increasingly concerned that a the regional economy. The deal for the troubled the Virgin bid on the grounds sale of the company could wipe “The staff of Northern Rock Business News...... 2 lender – at the centre of the UK’s that it meets these three princi- out the value of their sharehold- have worked stoically through- Small Business...... 3 first bank run for nearly 150 years ples.” ings. out the recent financial crisis. Law...... 4 in September after soaring bor- Shares in Northern Rock James Ramsbotham, chief ex- They, together with the founda- Rural Affairs...... 5 rowing costs forced it to seek surged on the back of the an- ecutive of the North-East Cham- tion, will eagerly look forward to having certainty of their fu- Commercial Prop...... 8 and 9 emergency funding from the nouncement, at one stage climb- ber of Commerce, gave a cau- tures.” Personal Finance...... 10 Bank of England – would see Vir- ing 42 per cent in morning trad- tious welcome to the bid. CASH CALL: Robin Ashby at Market Report...... 11 gin Money and Sir Richard pay ing, closing up 24.2p at 110.1p. He said: “As one of the largest £200m. In a letter to Northern Rock yesterday’s meeting private sector employers in the Comment – Page 18 2 BUSINESS ECHO www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 Exploring Committed to potential of developing the workforce Martyn life-saving Pellew THE Northern Echo’s parent company electronics Newsquest (North East) has demon- strated its commitment to staff train- ing and development by signing the THE potential development of Skills Pledge. Reducing electronic equipment that can Peter Barron, editor of The North- operate in extreme conditions ern Echo, and David Coates, managing and help save lives is being ex- director of Newsquest (North East), the risk of plored in the region. have backed the initiative, which aims Scientists at Newcastle Uni- to increase the skills levels of the na- versity are researching the effec- tion’s workforce. human tiveness of advanced electronic More than 50 North-East businesses devices and communication and organisations have now signed the techniques that can be used in Skills Pledge, which is supported by error space and at sea. the North-East Chamber of Commerce If the technology is proven, it (NECC) and the Confederation of USINESSES could be developed further in the British Industry (CBI). across the region North-East with the creation of James Ramsbotham, chief executive and, indeed, the hundreds of jobs. of the NECC, said: “A large and well- UK, must have The project, carried out at the known organisation like Newsquest B been rife with talk School of Electrical, Electronic signing up to the Skills Pledge sends this past week about the and Computer Engineering out a very strong signal about how missing Child Support Agency (EECE), will use silicon carbide committed it is to staff development. CDs, containing personal to develop equipment that works “It also reinforces the message about details of more than 25 million in high temperatures, high radi- the benefits of staff training, which people. ation and corrosive environ- pays dividends when it comes to in- Following the resignation of ments and can communicate creased efficiency, staff motivation Paul Gray, chairman of Her through the steel-hull of a ship or and the growth of a business.” Majesty’s Revenue and oil platform. ■ See Back Page COMMITMENT: Peter Barron and David Coates sign up for skills broker Chris Hetherington Customs (HMRC), which lost The creation of a research and the discs, morale and development facility at Newcas- confidence will be incredibly tle University will cost £3.4m. Re- low among its staff. gional development agency One Only too recently, we have NorthEast has already pledged seen the knock-on effect low £2.1m in funding. confidence and morale can Chris Pywell, head of strategic Report points to vital have on a team, with the economic change at One North- sacking of the England football East, said: “There’s no doubting manager. the significance of this research But where does the blame and its potential value to the re- lie? A junior official has been gion. It will attract other inter- pin-pointed as the reason national research and develop- role for public sector behind this shocking blunder, ment activities in the area of which has caused widespread advanced materials.” concern. But ultimately, who is The university will work along- responsible? side One NorthEast, the Centres A KEY report has highlighted By Deborah Johnson pens in pockets around the re- Gordon Brown last week of Excellence, Cenamps and the the role the public sector could Business Correspondent gion – it needs to become the announced that the Northern Defence Industries to play in closing the North-South norm if we are going to get the Information Commissioner [email protected] identify potential markets and economic divide. £1.35bn economic boost Buy would now be given powers to supply chains for the technology. Research by the Institute for North East believes is possible.” spot-check Government Professor Nick Wright, dean of Public Policy Research North the public sector to spend an Sue Stirling, director of Ippr departments without their business development for the sci- (Ippr North), has found that the extra one per cent each year until North, also stressed the impor- consent to avoid this ence, agriculture and engineer- public sector should be seen as 2016 contracting services from tance of the public sector. happening in the future. But is ing faculty at Newcastle Univer- “an engine for economic growth” within the North-East, generat- “Some people say the public it a little late to put such sity, said: “With this vital grant and could help support the ex- ing an extra £1.35bn and creating sector in the North is too big. In measures in place now? from One NorthEast, we will be pansion of the private sector. 6,000 jobs. fact, the private sector is too As a member of staff at a able to build a truly ground- The report is part of a strategy NECC research has shown that small,” she said. large business in the region, I breaking technology centre that to help close the £30bn output of the £3.5bn spent by the public “The North needs a strong pub- know all too well it is difficult to will develop new technology in gap between the North and sector assigning contracts each lic and private sector if it is to keep track of the mammoth collaboration with North-East South over the next 20 years. year, less than half is spent di- East spend £3.5bn buying goods tackle deep-seated problems like quantity of information and international companies in Ippr’s findings have been rectly with local suppliers. and services from businesses high levels of worklessness and circulated among its hundreds the marine, aerospace and oil and hailed as being “at the heart” of Ross Smith, head of policy and each year and, by doing this in a child poverty.” of employees. gas sectors.” The Northern Echo’s Buy North- research at NECC, hailed the smarter way, they can play a big The Ippr report, published But with well-communicated East campaign, which aims to findings of the report. part in the region’s future ahead of today’s Northern Way plans and procedures in place, bring thousands of jobs and “Ippr’s report is right in high- growth. summit in Newcastle, also rec- the impact of human error, more than £1bn to the region over lighting the role the public sector “The best examples of public ommends the improvement of although still a risk, can be For news updated on the hour the next decade. could play in stimulating the procurement help to promote transport links between the kept to a minimum. visit The Northern Echo Run in conjunction with the economy, which goes to the heart economic growth, foster innova- North and South, simplifying un- Similar to my own, many of news website at North-East Chamber of Com- of the Buy North East cam- tion in our businesses, create employment benefits and subsi- the region’s organisations www.northernecho.co.uk merce (NECC), the campaign paign,” he said. jobs and boost skill levels. dising entrepreneurs to encour- proactively manage their staff seeks to encourage and support “Public bodies in the North “But at the moment, this hap- age future business growth. and business practices as part of their corporate social responsibility. These positive measures Reducing bills and ensure the ongoing protection Industry leaders meet of both people and assets. If carbon emissions the Government had adopted a similar approach, maybe this to discuss challenges A MANUFACTURER in the North-East is recent error could have been expected to achieve annual cost savings avoided. of more than £35,000 a year after being The overriding factor in this shown how to be more energy efficient. crisis is for the Government to LEADING business figures will meet to- The exercise has been organised by in- Engineers from regional development instill confidence and stability morrow to discuss ways of overcoming novation agency RTC North, which man- agency One NorthEast’s energy resource among the remaining HMRC the challenges facing manufacturers in ages the region’s Manufacturing Adviso- efficiency programme have been work- staff and the public. the region. ry Service (MAS North-East) on behalf of ing at the Geka Manufacturing plant for The Government’s belief in An industry task force will tackle regional development agency One North- the past five months. UK businesses and its people issues such as rising costs, competit- East, and the newly formed Department An energy audit of the site, on the is critical to long-term success ion from low wage economies and of Business Enterprise and Regulatory Tanfield Lea Industrial Estate, Stanley, among all organisations, large skills shortages in the first of two Mod- Reform. County Durham, was carried out and en- or small. ernising Manufacturing consultation ex- RTC North managing director Gordon gineers identified areas where the com- What we now need is for the ercises. Ollivere said: “The North-East has an ex- pany could make efficiency savings. Government not to talk at us, The second consultation will take cellent tradition of excellence in manu- Changes were made to the company’s but to work with us and help us place in January and the task force will facturing, which still accounts for 25 per compressed air system, which account- to develop and grow our then report its findings to policymakers cent of the regional economy. ed for almost 35 per cent of its energy businesses and to recognise and Government ministers at a third “This event is about responding to usage, and training was given to our worth within the UK meeting, in February. global competition and keeping our com- staff. economy. Its recommendations will be used panies ahead of the competition.” As a result, Geka, which produces to shape the Regional Economic Strate- For more information about the event, plastic packaging for the cosmetics in- ■ Martyn Pellew is chairman of gy and ensure that manufacturing re- contact Carol Hodgson at RTC North on dustry, has cut its carbon emissions by the North-East Chamber of mains at the heart of the North-East’s 0191-516-4400 or visit www.mas-north about 300 tonnes a year and reduced its Commerce economy. east.co.uk/siteEvents.asp energy bills by a fifth. TUESDAY, NOVEMBER 27, 2007 www.businessecho.co.uk SMALL BUSINESS BUSINESS ECHO 3
Showthe world youmean business Pilates instructor puts 0845 600 9006 www.businesslinknortheast.co.uk classes on the internet
A FITNESS coach has in- By Kate Bowman gether to achieve the goal of pilates classes as often as vested £40,000 in a web- Business Editor a better balanced body and they like. based service as demand for [email protected] overall fitness. She said: “Pilates is an in- her exercise classes contin- Ms Jewison took up pi- credibly popular form of ex- ues to soar. lates six years ago at the age ercise because of its many Pilates instructor Lindsay exercise affordable, conve- of 50 and was so impressed benefits such as improved Small Jewison, from York, has set nient and fun because we all with the results that she de- strength and muscle tone, up an internet site that al- know how hard it is to fit it cided to make a career out of better posture and balance, lows users to take part in a into our hectic lives,” she the exercise. increased flexibility, re- Business range of classes whenever said Since qualifying as a pro- duced stress and improved they want and from wherev- “The online classes mean fessional instructor, she has joint mobility. By JILL LEE er they are . that you can take part any- continued to increase her “I currently teach all ages Ms Jewison, who has been time, anywhere and with knowledge of pilates with – even people in their eight- teaching pilates classes whoever you want, whether ongoing study and research ies – as it can help to relieve Match skills throughout the wider York- that’s with a group of around the world. the symptoms of many ill- shire region for the past five friends or by yourself.” Her new business – nesses. It’s also very popular years, hopes the venture will Pilates is a unique system www.myexercisestudio.com with sportsmen and women with training to create five jobs for instruc- of stretching and strength- – is one of the first of its who want to improve their tors and administration ening exercises developed kind to be launched in the performance.” staff over the next couple of more than 90 years ago by UK. Ms Jewison plans to add ensure success years. Joseph Pilates. It is a membership web- other forms of exercise to “The aim of www.myexer- It focuses on training the site and users pay a month- the website in the coming in business cisestudio.com is to make mind and body to work to- ly fee of £9.99 to take part in months. INTERNET PILATES: Lindsay Jewison HATEVER the size of your ‘Publicise W business and whichever sector you Luxury gifts operate in, to be successful you need to identify any areas where you are underperforming and make improvements. at the click changes to Developing the skills of people working in your business is an important way of waste laws’ doing this – new skills can improve your of a mouse productivity, competitiveness and profitability. A LEADING small business or- Comparing the skills you have with the THE daughter of the founder of ganisation has called on the En- skills you need to achieve your business Milligans Bakery is following in vironment Agency to do more to goals is an important step towards her father’s entrepreneurial publicise major changes to waste improving your performance. footsteps by launching an online disposal laws, which came into Training can help to improve skills in the gifts store. force recently. short-term and help to build staff loyalty Louise Milligan is launching Under the rules implementing and dedication, increasing the emphasis on Xclusivetreats.co.uk, which will the EU Landfill Directive, liquid work-life balance and motivation. provide a forum for the region’s waste will be banned from land- We know that the day-to-day pressures of leading independent retail stores, fill and all landfill waste will running and managing a business often small boutiques and venues to offer have to be pre-treated. mean it is difficult to find the time to step their goods online. The Federation of Small Busi- While it will initially focus on the back and analyse staff training needs. nesses (FSB) said the changes North-East, the company is already However, as staff are an incredibly would have a “profound effect” eyeing national expansion. important resource for almost every on the UK’s 4.5 million small Luxury gifts include spa business, it is vital to encourage their business owners, who will have treatments, adventure days, development. the ultimate responsibility for To help North-East businesses take designer jewellery, accessories and what happens to their waste. control of the future success of their flowers. Colin Stratton, the FSB’s company, we can work with them to Ms Milligan is following the North-East chairman, said: “The establish how to improve areas of business lead of her father, Lloyd FSB supports the environmental workforce development by providing access Milligan, who set up Milligans, in to information and the right help on Newcastle, and helped to turn it principles that have led to these everything from leadership development to into one of the largest bakery changes. motivation and recruitment. chains in the region. “But it would be nothing less The Business Link website enables you to Ms Milligan said: “Online than a dereliction of duty for the access key information 24 hours a day, shopping has grown significantly Government to bring in these seven days a week. But if you would like to over recent years, and I identified a new laws without a sustained discuss your training needs with one of our gap in the market for this type of publicity campaign to ensure team, we are always at the end of the luxury gifts service, especially small businesses are aware of phone. when focusing on a regional basis. them. Businesses can also sign up for email “While this will focus on the “The Environment Agency alerts to ensure they remain a step ahead North-East initially, we are must do more to let small busi- and fully informed about training developing the website to nesses know what their obliga- developments. incorporate other UK regions and tions are. With a team of trained skills brokers, we this will allow visitors to purchase “Putting information on a can help you to identify training specialists gifts, organise days out or book website is simply not enough. that suit the needs of your business. hotels tailored specifically to those “There must be widespread Whether you know what you want, or areas.” ONLINE GIFT SHOP: Louise Milligan, who has launched Xclusivetreats.co.uk publicity otherwise small busi- need to identify staff development nesses could be punished for opportunities, Business Link can direct you breaking laws they knew noth- to effective services that make a real ing about.” difference to your company. Wrought-iron fence maker looks for new markets
■ Business Link’s team of expert brokers A POWDER coatings Hebburn, South Tyneside, The couple have received support towards new For news updated on operate across the region in local access company in the North-East last December. support from Business Link equipment and ICT the hour visit points and on a mobile basis. For details is expanding less than one The pair now plan to North East. facilities, which in turn has The Northern Echo year after being taken over. expand the business, which Ms McLaughlin said: improved efficiencies and about the Business Link service visit news website at www.businesslinknortheast.co.uk or call Dorothy McLaughlin and manufacturers wrought-iron “Business Link has provided provided us with the 0845-600-9006. Thomas McDonald acquired fencing and security grilles, guidance on cashflow, basic opportunity to expand the www.northernecho.co.uk Victoria Coatings, in and enter new markets. administration, training and business.” Showthe worldyou mean business 08456009006 www.businesslinknortheast.co.uk 4 BUSINESS ECHO ECHO LAW www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007
IN ASSOCIATION WITH Blackett Hart &Pratt Law firm Joining the team at Muckle in partnership with business
If youare looking foralawfirm that talks your language, whereyou arethe centreofattention,thenlook no further. setting its sights on EchoLaw expansion By JAMES WHARTON
Your rights and By Deborah Johnson Business Correspondent ‘ responsibilities [email protected] . . . for the time being, under Data Act NORTH-EAST law firm Clark we are prioritising our Willis is expanding one of its re- resources in gional bases and has plans to ex- ITH the loss of 25 million records pand another. Darlington by HM Revenue and Customs, data Earlier this month, the firm ex- W panded beyond its original base Jonathan Willis protection has hit the headlines in a startling way in the past few days. in Darlington’s Bondgate to take This is not an issue only concerning another office in the town’s Val- governments and large companies; all ley Street, and is increasing its organisations must abide by the rules. present workforce of 60. increased quantities of Legal Aid The Data Protection Act provides a Nineteen people will be based work. framework for the handling and storage of in new premises, which include It is the only firm in Darlington information. the housing and personal injury to hold more than four licences to It contains key rights, in most cases claims departments. conduct Legal Aid work under allowing individuals to see what is held Clark Willis is also looking to the LSC Unified Contract, hold- about them. The Act also sets out a move to new premises to enable ing them in the family, crime, framework for the protection of data, it to expand its operation on the housing, mental health and me- requiring anyone who stores personal Army base at Catterick Garrison, diation categories of law. information to ensure it is: North Yorkshire, from where its New appointments have been ● Fairly and lawfully processed conducts property, family and made in the housing, criminal, ● Processed for limited purposes courts martial work. family and property depart- Jonathan Willis, managing ments, increasing the number of ● Adequate, relevant, not excessive NEW ARRIVAL: Nick Todd ● Accurate and up-to-date partner at the firm, said Clark lawyers at the firm to 26. ● Not kept longer than necessary Willis was already looking to Paul Smith, partner in the firm build on its recent expansion. and head of civil litigation, said: REGIONAL law firm Muckle LLP has ap- and is ambitious in its desire to see that ● Processed in line with your rights pointed Nick Todd as a partner in its pub- develop over the coming months and ● Secure “In Darlington, we really need- “It was a difficult decision, we ed more space and very quickly, felt you either had to be totally lic sector team. years.” ● Not transferred to other countries Mr Todd has joined the Newcastle firm Mr Todd has joined Muckle, one of the without adequate protection. as a result of an increase in work committed to Legal Aid or not, volumes, but now we need to look and we realised that it was not from rival Evershed and has considerable region’s leading commercial law firms, at If you store personal data, it is important experience in public sector property work a time of significant growth. you fulfil these requirements. at the future and how we can sensible just to dabble in it.” move on from here,” he said. Clark Willis also has an office to help develop Muckle’s growing reputa- The company plans to move to bigger If you feel a company or organisation tion in the sector. offices in Time Central, Gallowgate, New- storing information about you is not “Our plans are to ultimately in Billingham, near Stockton, bring us back under the same where the firm was established in He specialises in local government, castle, next year. complying with the Act, you can complain health and education and has recently Alan Grisedale, head of the public sec- to the Information Commissioner’s Office, roof, which may include new pur- about 1965 by John Willis. pose-built premises.” His son, Jonathan, took over worked on town centre regeneration, pro- tor practice at Muckle, said: “As we con- who, if it is deemed necessary, can take jects for further education college and tinue to develop and strengthen our sec- appropriate enforcement action. “In Catterick, the building we the business in 1993 when he was occupy is quite old, and although with his then business partner, academy school accommodation, NHS tor experience, I am delighted to welcome You can also find out what data a trust property transactions and university Nick to the team. company or organisation holds on you by it’s in the centre, it does not lend Colin Clark, in Darlington’s Duke itself well to modern working Street. campus redevelopment “Providing an excellent level of service writing to them with a subject access He said: “Muckle LLP has a reputation and resource to our public sector clients request. This is, in effect, a letter asking methods. The two later joined with Peter “In due course we will need to Wastnedge in the firm’s present for excellent lawyers, for its open and chal- is essential for our practice, and Nick’s for all relevant data to be disclosed. The lenging culture and for its commitment to particular areas of expertise fit perfectly company or organisation is entitled to consider perhaps something Bondgate base in 1995. There are more suitable but, for the time now five partners – Jonathan the North-East – all of which appeal to me. with our public sector ambitions and re- charge an administration fee for a copy of “It has a healthy public sector client base quirements.” the data, but in most cases this will be less being, we are prioritising our re- Willis, Peter Furness, Phillip than £10. sources in Darlington.” Clark Duffy, Christopher Bunting and Should some of the information held Willis is expanding on the back of Paul Smith. about you prove to be inaccurate, you can ask that it be corrected. It is good practice to keep copies of all correspondence, including letters you have Planning to build on construction success sent and received, so that if a problem arises and you need to make a complaint to the Information Commissioner, you will have a clear record of what has been done. THE construction team at Newcastle Ms Short trained with Ward growth in instructions from a range pleasing to see the confidence placed Data protection is becoming ever more law firm Ward Hadaway has made Hadaway and was, until of clients. in the team by clients from across the important as identity theft increases. The two appointments. qualification, chairwoman of the Its expertise has been sought for a construction sector and it is clear framework already in place provides a Leigh Child and Kerry Short have Trainee Solicitors Group, in variety of schemes in sectors how much they value our expertise. wide range of protection for individuals joined the unit, which this year has Newcastle. She will concentrate on including process engineering, “We always aim to provide an and the Information Commissioner’s Office advised on projects worth more than commercial development. commercial property and efficient and pragmatic service and has comprehensive guides on its website at £300m. Ralph Wrighton, head of housebuilding, as well as retail, local our clients have given us a reputation www.ico.gov.uk Senior assistant solicitor Ms Child construction, said: “We are delighted authority and publicly-funded for ‘always getting the job done’. has been recruited from Watson to welcome Leigh and Kerry to the developments. “The construction and engineering ■ James Wharton is a member of the Burton. team. Demand for contentious and non- industries have always been a company law team at Blackett Hart and She has experience of contentious “Their arrival will give us genuine contentious advice has also touchstone of the North-East Pratt LLP Solicitors, in Darlington. He can and non-contentious matters for a strength in depth and help us to continued to rise from contractors economy and we are delighted to be be contacted on 01325-466794. range of private and public sector extend our growing list of clients.” and sub-contractors. playing a role in its continuing clients. The team is enjoying continued Mr Wrighton said: “It is very success.”
business & employment & Acting with flexibility &commercial foresight, we canassist you company law business disputes BlackettHart &Pratt LLP Solicitors whether you are looking to invest, protect your assets, set up a BHP Commercial newventure, sell or growyourbusiness, develop propertyand land, enforce yourrights or if you are engaged in adispute. commercialproperty planning &design For advice &guidance and to find out more about our commercial services call us on 01325 466794 or visit our website at www.b-h-p.com. Westgate House, Faverdale, Darlington, DL3 0PZ. OfficesinNewcastle, Durham, Darlington &Newton Aycliffe. Regulated by the Law Society.Authorised and regulatedbythe Financial Services Authority. TUESDAY, NOVEMBER 27, 2007 www.businessecho.co.uk RURAL AFFAIRS BUSINESS ECHO 5 NEWS IN BRIEF Bank manager optimistic about farming Rent review Bluetongue tops A SENIOR bank manager be- pacity to meet overseas demand. forecast to grow to nine billion by half times the size of England, meetings meeting agenda lieves British farming has a The same company expects its 2050 which, along with reduced Scotland, Wales, Southern Ire- bright future. average farm gate milk price of world poverty, could see a dou- land and Northern Ireland put to- for tenant A MEETING of the North-East A burgeoning world popula- 26.5p per litre (ppl) to be nearer bling in demand for food. gether.” National Farmers’ Union (NFU) tion and falling poverty levels 30ppl by the spring. In China, demand is rising by Water is another issue – col- Regional Livestock Board has will see greater demands for food Addressing a Tenant Farmers’ nine per cent a year and is ex- lecting and storing winter rain- farmers bluetongue at the top of the – and better prices. Association meeting at Scotch pected to go up by 17 per cent for fall for use in spring and summer agenda. Jeremy Jones, David Humphreys, NatWest se- Corner, Mr Humphreys said poor the next seven to eight years. would increase the amount of veterinary officer with Leeds nior agricultural manager for world harvests and increased de- On the issue of food versus “free” water available. TWO important meetings for ten- Animal Health, will give a Yorkshire, said China and India’s mand had seen cereal prices rise fuel, Mr Humphreys said the US Mr Humphreys said Britain ant farmers are being held in the briefing on the disease and take booming economies were already and prices looked good for the planned to increase its has many advantages over other region. questions. Fiona Campbell, having a major impact. next two years. bioethanol production from five parts of the world – not least the The recent increase in com- NFU food and farming advisor, China’s demands had led to a Although livestock prices are billion to 35 billion gallons over experience and skill of its farm- modity prices – notably cereals said: “Yorkshire and the North- shortage of skimmed milk pow- down, particularly for sheep, he the next decade. ers. He said: “NatWest considers and milk – have resulted in a East is home to more than four der and, he said, the Dairy Farm- said the growing world popula- They will need about 130,000 there is a massive future for the large number of landlords serv- million sheep, more than any ers of Britain milk company now tion would mean greater de- square miles of land to achieve industry. The glass is definitely ing rent review notices. other English region, so has a plant working at full ca- mand. The world population is that. He said: “That is one-and-a- half full, not half empty.” Many tenants have not had an farmers are rightly very increase since 2000 because of concerned about how they foot-and-mouth and the previ- might be affected.” Other items ously all-time low cereal prices. include an update from Steve The meetings, organised by the Powdrill, of the English Beef Bedale office of George F White and Lamb Executive, and NFU ‘Young drivers may and the Tenant Farmers’ Associ- work in the red meat sector. The ation, will discuss whether in- meeting, open to all NFU creases are justified, given in- members, is at the Holiday Inn, creased costs and the volatile Tadcaster Road, York, wheat market. tomorrow, from 7.30pm. They will provide an update on tenancy processes, recent FARMING HERO: Peter be breaking the law’ changes in legislation, what the Kendall, president of the NFU, financial implications may be has been named the Farm and how to take discussions for- Business magazine’s Food and By Mike Bridgen ward with landlords. Farming Personality of the Hugh Fell and Kevin Guy will Year at a ceremony in the Rural Affairs Editor talk tenants through rent review House of Commons. Cedric [email protected] notices, the legal process of rent Porter, editor, said the year had reviews, current market rents been one of unprecedented and likely rental values in the fu- challenge and opportunity for MANY young drivers who tow British farming. He said: horseboxes or livestock trailers ture. “Throughout the year, Peter could be breaking the law with- The meetings will be useful for Kendall has been at the out realising it. any tenant farmers, but particu- forefront of defending, Regulations introduced ten larly those on a secure AHA 1986 promoting and championing years ago stated that drivers who tenancy. the industry. He has passed their driving test after The meetings are at Malton highlighted the real pain that January 1997 lost the right to and Norton RUFC on Thursday, this year’s disease outbreaks pull trailers if the vehicle and and The Rendezvous Hotel, Skip- and flooding have caused trailer combination exceeded 3.5 ton, on Wednesday, December 5. farmers across the country, but tonnes. In effect, it means all Both start at 7pm. also stressed that British such drivers under 27 must pass Tenants planning to attend are farming has a vital role in a separate driving test before asked to contact Paul Young, on providing the food, fibre and they can tow livestock trailers 01665-600164 or email paul fuel that the public at home and and horse boxes. [email protected] abroad cannot do without.” Graeme Gill who runs the Deepdale Off Road 4x4 Driving FREE EVENT: A free event in More than Centre at Smartgill, near TRAIL-BLAZER: Graeme Gill who has set up a trailer training business Teesdale will highlight ways of Barnard Castle, says those who reducing lameness and worms have not passed the test are dri- ving experience was chatting and was breaking the law and was been involved in an accident and 15,000ha in sheep. Fiona Lovatt and ving without a licence and are it became clear he knew nothing uninsured. the police come along and check Debby Brown, of Castle Vets, therefore uninsured. about the trailer legislation.” Mr Gill thinks a lot of the ig- their licence.” registered will give practical advice at a He is so concerned about the A major company that sent its norance about the rule change is Mr Gill’s trailer training busi- meeting in Marwood Social number of young drivers and drivers for 4x4 training was also because it happened ten years ness employs a specialist driving MORE than 15,000 hectares of Centre, Barnard Castle, on companies unaware of the legis- unaware and had to immediate- ago and appears in the small instructor and supplies a vehicle land has been registered with the Monday, at 7pm. Lameness and lation that he has established one ly stop half-a-dozen of its drivers print on the driving licence and trailer to allow drivers to ac- Land Registry by landowners in worms in ewes and lambs cost of the first trailer training busi- from towing trailers until they which many people do not read quire the skills needed to pass the County Durham in the past year. the region’s sheep farmers nesses in the area. passed the test. or understand. test. It costs a minimum of about Teesdale accounted for millions of pounds a year. By Mr Gill said: “We have put A couple with a large 4x4 and He believes there could be £400 to complete the training, in- 12,525ha of the increase and Dar- correctly identifying the causes, about 20 drivers through the test caravan, which together weighed many young drivers unaware cluding the £100 test fee. lington an additional 2,000 treating accordingly, and over the past three months. more than 3.5 tonnes, had been they may be breaking the law. Mr Gill can be contacted on hectares. implementing a planned “Only the other day, a farmer’s allowing their son to take it on He said: “The problem is, they 01833-630802, or by emailing Now other landowners are management programme, the son who came here on the 4x4 dri- holiday – neither was aware he may not know until they have www.deepdaleoffroad.co.uk being urged to follow suit – Coun- costs can be significantly ty Durham still has 135,000 reduced. The meeting is free, hectares of land unregistered (32 but farmers should register per cent) and 35 per cent of land with Helen Tordoff, Eblex BRP Reducing costs thanks to brassica fodder in Darlington is unregistered. events co-ordinator, on 0870-609- The Land Registry – the gov- 1840 or email hellent@ ernment department responsible eblex.org.uk TEESDALE farmer Tony Wilson to avoid having to keep cows in- months. The aim is to bring calv- grown for wholecrop silage to for registering land ownership in DATE CHANGE: The annual is entering a second season of doors. ing forward to April – outside – to winter-feed growing cattle. England and Wales – wants to meeting of the North Riding outwintering his 70-cow beef He said: “The cost of growing allow the calves longer on the This will be followed by a fast- help landowners identify and and Durham County NFU has suckler herd on brassica fodder a crop of kale that will feed the cows before weaning. growing brassica crop which will register what they own. been moved back to Thursday, crops to reduce costs. cows for 120 days is just a fraction All the dry cows would then be be grazed by breeding ewes in De- Harry Charlton, register de- December 13, to allow Carmen Success so far suggests that of this, and – even with moving outwintered on 16 to 18 acres of cember and January and fol- velopment manager for the Suarez, NFU economist, to keeping his cows outdoors all the feed fence every day – I be- kale. This year’s kale area is just lowed by a spring grass and North-East, said: “We have seen attend. It takes place at year round is a definite possibili- lieve the outwintering system over eight acres, sufficient for 30 clover re-seed. an increase in the amount of land Darlington Rugby Club, at 1pm. ty. requires less labour overall.” cows for 120 days. The brassica crops enable Mr registered in County Durham of Jim Walker, past president of On Wednesday, December 5, he Most of the Limousin x Belgian Mr Wilson has switched from Wilson to maximise his forage more than 15,000 hectares and of NFU Scotland and former hosts an open day at his West blue cows calve in May and June. a taller variety to the semi-dwarf acres and provide essential almost 40,000 hectares in the chairman of Quality Meat Highwood holding, near Barnard Calves are weaned at the end of Maris Kestrel, for superior leaf breaks in the overall rotation. North-East as a whole. Scotland, is guest speaker at the Castle, as part of an English Beef November and go inside. size and leaf-to-stem ratio. They are also very cost effective “We are delighted so many Northumberland County NFU and Lamb Executive (Eblex) Bet- Bulls are kept entire and are The crop was drilled in June to grow. have recognised the value of reg- annual meeting, at St James’ ter Returns event. reared to finish at about 650kg following first cut silage, and will To attend the event, contact istration and would welcome in- Park, Newcastle, on Thursday, Mr Wilson, a tenant of the liveweight at 17 to 18 months. be followed by a spring-drilled Eblex on 0870-609-1840 or email quiries from as many landowners at 7pm. Raby Estates, said the object was Heifers are finished at 21 to 23 crop of triticale and lupins [email protected] as possible.” State-backed registration gives MILK AWARD: The 2007 landowners greater security of presentation dinner for the title, providing them with better Yorkshire County Milk Book now for second National Farmers’Union conference protection against claims of ad- Recording Herds Competition verse possession. takes place at the Millstones DAIRY farmers across Yorkshire Arms, Greta Bridge, near of milk quotas. The free half-day event begins The Registry is offering a 25 Restaurant on the A59 and the North-East are urged to Barnard Castle, next Tuesday. It will also feature the region- at 11am and will be followed by a per cent discount on the cost of Harrogate to Skipton Road on book now for the National Farm- The focus will be on new chal- al launch of the NFU’s new Dairy buffet lunch. voluntary registration. Full de- Monday, at 7.30pm.Tickets, ers’ Union (NFU) second North- lenges facing the dairy sector – Contract, which is designed to The event is open to all NFU tails are available at 0800-432-0432 costing £19.50, are available ern Dairy Conference. not least the impact of proposed bring greater fairness to the re- members. To book a place, con- or at www.landregistry.gov.uk; or from David Jones, honorary Milk Matters – Facing the Fu- revisions of Nitrate Vulnerable lationships between milk pro- tact Enid or Claire on 01904- by email to registerland@land secretary, on 01423-887472. ture takes place at the Morritt Zone regulations and the future ducers and purchasers. 451550. registry.gsi.gov.uk 6 TUESDAY, NOVEMBER 27, 2007 www.businessecho.co.uk BUSINESS ECHO www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 7 Will North’s ex-pats answer the call?
fraction of the numbers once employed on the Tyne. In the mid-Nineties, it was estimated more than 30,000 were employed in the yards – either directly or in the supply chain. We tried to secure central McNulty’s alone once employed 5,000. government funding to Since then, the river has seen a gradual head off the current By Nigel Green decline, punctuated by short bursts of orders. because of the skills we have in this sector, During that time, shipyard workers have situation, but it never and a number of North-East firms are [email protected] been forced to take their skills to oil-rich currently bidding for sub-contracting work countries. materialised on the Royal Navy’s new aircraft carriers. The Northern Offshore Federation, which N the depths of the Depression, Steve Keyworth, “The North-East is also focusing on represents a range of companies across the shipyard workers from Tyneside were McNulty’s managing director lucrative, high-value ship design engineering North-East, say they have workers in 22 willing to march 300 miles to London. countries, ranging from the former Soviet work and has opened the International The Jarrow March of 1936 saw I states of Azerbaijan and Kazakhstan, to Marine Design Centre, in Newcastle, to pool hundreds of men gather outside Nigeria, Libya and Iran. the region’s strengths in this sector to land Parliament to demand jobs. The GMB union estimates up to 3,000 major international ship design contracts.” More than 70 years later, their descendants workers from the North-East are overseas. But Martin Callanan, the Conservative are willing to travel to the four corners of the One example of the foreign legion of Euro MP for the North-East, says: “It’s a earth to find work. As a contractor, I have never really workers who have left the region is Bill scandal that they cannot find people to take McNulty’s Offshore is one of many Bateman. well-paid jobs. This is a massive indictment of companies that have sent thousands of known much more than six months The 63-year-old, from Whitley Bay, North the Government’s training policy. North-East workers around the world over in advance. It’s really interesting Tyneside, started as a 15-year-old plater at a “We have had ten years of Labour the years. local shipyard, but for the past two decades, government. They keep telling us how much But now, for the first time in its 20-year living and working in Azerbaijan, but he has worked overseas, including South they’re spending on skills and education and history, the company is opening a facility in Africa, Saudi Arabia and Dubai. yet we have the evidence that companies on India. my contract is completed at the He now works as a construction manager the Tyne cannot get workers to fulfill Managing director Steve Keyworth is end of the year and I am now for BP, in Azerbaijan, where huge oilfields contracts. going to India to secure the deal to turn a under the Caspian Sea are being opened up. “We will be losing both ends up by missing shipyard into an offshore facility capable of looking for work in south-east Asia Bill says: “As a contractor, I have never out on wealth coming into the region and building rigs and floating oil production or the Emirates really known much more than six months in having to pay out unemployment benefits. vessels. advance. “These days, there’s so much social and Although reluctant to name the location, Bill Bateman “It’s really interesting living and working environmental legislation coming from the he says: “We will also use this yard as a in Azerbaijan, but my contract is completed EU that even companies that can find trained stepping stone to get into the Far East at the end of the year and I am now looking staff can’t afford to employ them. market – including China, Vietnam, for work in south-east Asia or the Emirates. “We hear so much about how the EU wants Indonesia and Australia. skills and key workers employed at South “The facility at South Shields would be the The company, which employs fewer than “Singapore seems a good possibility. I still ex-pats will return home to help build the have exact figures for the number of skilled local employees to the North-East to be an economic powerhouse, but it’s in “While McNulty’s has worked all over the Shields. centre of gravity for all this work.” 300, would join forces with A and P Tyne, in intend to work for two more years then I will aircraft carriers. members who are abroad, but it must be who are presently working overseas. terminal economic decline and it’s dragging world, we have never had a facility outside “I think it would create opportunities for Workers at McNulty’s South Shields yard, Hebburn, to build sections of the carriers. probably retire to Dubai.” Davey Hall, Northern Regional Secretary hundreds. “We are seeing firms bringing major the North-East down as well. the UK. skilled offshore workers and management on South Tyneside, are confident they will A and P employs about 600 men refitting A welder can earn more than £60,000 for the Unite union, is responsible for “I bumped into a lad I know from Wallsend contracts to the North-East – such as the “It would be a terrible tragedy if the “This would be a first. on the Tyne and create opportunities for win a major share of the contract to build and converting vessels. overseas – twice the money they make on the thousands of electricians and other skilled a week ago who works in Malaysia. £300m Seadragon oil and gas platform craftsmanship and skills that have sustained “The yard in India will heavily rely on the them in India. two aircraft carriers for the Royal Navy. But the combined workforce is only a tiny Tyne – and it is yet to be seen if the Geordie workers in shipyards. He says: “We don’t “He’s a boilermaker and he told me you’d bound for Tees Valley – attracted here the Tyne for so long are lost forever.” be amazed at how many Geordies there are over there. “He’s an incredibly hard grafter. Most of these men are my age – in their 50s. GREATCONNECTIONS WITH TEES VALLEY #2 “They now probably have a fairly good Chris Rea - Middlesbrough born singer-songwriter,selling over 30 million albums worldwide to date. I bumped into a lad I know from Wallsend a lifestyle in a warm climate. How do you find afresh week ago who works in Malaysia. He’s a “It would have to be a fairly lucrative enticement to bring them back to the harsh take on aclassic brand boilermaker and he told me you’d be realities of a British winter.” Q Tom Brennan, regional secretary of the and increase salesby amazed at how many Geordies there are GMB, says: “I would say there must be over there. He’s an incredibly hard grafter. between 2,000 and 3,000 workers from the £4 million? North-East working abroad. Most of these men are my age – in their 50s “They will come back if they have the continuity of employment. If they could get two to three years work from the aircraft Davey Hall, carriers – and there is no reason why they Unite Northern Regional Secretary can’t – that would be sufficient for them to come home.” Incredibly, despite the downturn in work, men who are skilled in “black trades”, such as welding and boiler-making, are usually snapped up by the few remaining yards. The lack of apprentices being trained over the past two decades has left a dwindling supply of skilled men. Mr Brennan says: “I welcome McNulty’s opening a place in India if it helps them. “There won’t be any threat to jobs in the North-East, because there’s going to be lots of work from the aircraft carriers. “The threat will come from the skills shortage. “There’s going to be a massive skills On the road to hell? Relax! shortage unless we start training people and getting more apprentices.” McNulty’s struggles to find welders, pipe- Let Vantis help you go your own way, fitters and electricians on South Tyneside, where nearly one in four people are and steer you out of your business congestion. unemployed. A typical welder on the Tyne earns an annual salary of £25,000 for a 40-hour week, Call Vantis, your local financial drivers on 01642 221 331 with the opportunity to boost his salary with for afree, no obligation business profile. overtime. Mr Keyworth says: “There was a River Designing Demand: Tyne initiative in 1997 led by Swan Hunter, A ■ ACCOUNTANCY ■ TAXATION ■ BUSINESS ADVICE ■ CORPORATE FINANCE ■ ASSET aprogramme to help businesses realise their potential. FINANCE ■ FORENSIC ACCOUNTING &DISPUTE RESOLUTION ■ BUSINESS RECOVERY ourselves and A and P Tyne. &PERSONAL INSOLVENCY SERVICES ■ RESTRUCTURING &TURNAROUND SERVICES ■ “It was estimated that the average age of a SME Workshop, North East BIC 20.11.07 OUTSOURCING ■ MANAGEMENT CONSULTANCY ■ COMPANY SECRETARIAL ■ worker was 49. Now I would say it’s probably To book call: 0191 244 4000 or visit: www.designingdemand.org.uk CUSTOMS DUTY RECOVERY&ADVISORYSERVICES ■ INDEPENDENT FINANCIAL ADVICE 50-plus. ■ HIGH NET WORTH SERVICES ■ SPORTS ADVISORYSERVICES &SOLUTIONS “We tried to secure central government funding to head off the current situation, but Vantis ·Tees Valley (Middlesbrough, Darlington, Hartlepool) it never materialised.” A spokesman for the Government-backed T: 01642 221 331 · F: 01642 218 515 regional development agency One NorthEast E: [email protected] · www.vantisplc.com think success says: “Clearly, it would add great value to the LOCATION, LOCATION, LOCATION: McNulty’s yard, in South Shields, South Tyneside, which will remain the hub of the company’s operations, even when it opens a yard in India regional economy to be able to bring back 6 TUESDAY, NOVEMBER 27, 2007 www.businessecho.co.uk BUSINESS ECHO www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 7 Will North’s ex-pats answer the call?
fraction of the numbers once employed on the Tyne. In the mid-Nineties, it was estimated more than 30,000 were employed in the yards – either directly or in the supply chain. We tried to secure central McNulty’s alone once employed 5,000. government funding to Since then, the river has seen a gradual head off the current By Nigel Green decline, punctuated by short bursts of orders. because of the skills we have in this sector, During that time, shipyard workers have situation, but it never and a number of North-East firms are [email protected] been forced to take their skills to oil-rich currently bidding for sub-contracting work countries. materialised on the Royal Navy’s new aircraft carriers. The Northern Offshore Federation, which N the depths of the Depression, Steve Keyworth, “The North-East is also focusing on represents a range of companies across the shipyard workers from Tyneside were McNulty’s managing director lucrative, high-value ship design engineering North-East, say they have workers in 22 willing to march 300 miles to London. countries, ranging from the former Soviet work and has opened the International The Jarrow March of 1936 saw I states of Azerbaijan and Kazakhstan, to Marine Design Centre, in Newcastle, to pool hundreds of men gather outside Nigeria, Libya and Iran. the region’s strengths in this sector to land Parliament to demand jobs. The GMB union estimates up to 3,000 major international ship design contracts.” More than 70 years later, their descendants workers from the North-East are overseas. But Martin Callanan, the Conservative are willing to travel to the four corners of the One example of the foreign legion of Euro MP for the North-East, says: “It’s a earth to find work. As a contractor, I have never really workers who have left the region is Bill scandal that they cannot find people to take McNulty’s Offshore is one of many Bateman. well-paid jobs. This is a massive indictment of companies that have sent thousands of known much more than six months The 63-year-old, from Whitley Bay, North the Government’s training policy. North-East workers around the world over in advance. It’s really interesting Tyneside, started as a 15-year-old plater at a “We have had ten years of Labour the years. local shipyard, but for the past two decades, government. They keep telling us how much But now, for the first time in its 20-year living and working in Azerbaijan, but he has worked overseas, including South they’re spending on skills and education and history, the company is opening a facility in Africa, Saudi Arabia and Dubai. yet we have the evidence that companies on India. my contract is completed at the He now works as a construction manager the Tyne cannot get workers to fulfill Managing director Steve Keyworth is end of the year and I am now for BP, in Azerbaijan, where huge oilfields contracts. going to India to secure the deal to turn a under the Caspian Sea are being opened up. “We will be losing both ends up by missing shipyard into an offshore facility capable of looking for work in south-east Asia Bill says: “As a contractor, I have never out on wealth coming into the region and building rigs and floating oil production or the Emirates really known much more than six months in having to pay out unemployment benefits. vessels. advance. “These days, there’s so much social and Although reluctant to name the location, Bill Bateman “It’s really interesting living and working environmental legislation coming from the he says: “We will also use this yard as a in Azerbaijan, but my contract is completed EU that even companies that can find trained stepping stone to get into the Far East at the end of the year and I am now looking staff can’t afford to employ them. market – including China, Vietnam, for work in south-east Asia or the Emirates. “We hear so much about how the EU wants Indonesia and Australia. skills and key workers employed at South “The facility at South Shields would be the The company, which employs fewer than “Singapore seems a good possibility. I still ex-pats will return home to help build the have exact figures for the number of skilled local employees to the North-East to be an economic powerhouse, but it’s in “While McNulty’s has worked all over the Shields. centre of gravity for all this work.” 300, would join forces with A and P Tyne, in intend to work for two more years then I will aircraft carriers. members who are abroad, but it must be who are presently working overseas. terminal economic decline and it’s dragging world, we have never had a facility outside “I think it would create opportunities for Workers at McNulty’s South Shields yard, Hebburn, to build sections of the carriers. probably retire to Dubai.” Davey Hall, Northern Regional Secretary hundreds. “We are seeing firms bringing major the North-East down as well. the UK. skilled offshore workers and management on South Tyneside, are confident they will A and P employs about 600 men refitting A welder can earn more than £60,000 for the Unite union, is responsible for “I bumped into a lad I know from Wallsend contracts to the North-East – such as the “It would be a terrible tragedy if the “This would be a first. on the Tyne and create opportunities for win a major share of the contract to build and converting vessels. overseas – twice the money they make on the thousands of electricians and other skilled a week ago who works in Malaysia. £300m Seadragon oil and gas platform craftsmanship and skills that have sustained “The yard in India will heavily rely on the them in India. two aircraft carriers for the Royal Navy. But the combined workforce is only a tiny Tyne – and it is yet to be seen if the Geordie workers in shipyards. He says: “We don’t “He’s a boilermaker and he told me you’d bound for Tees Valley – attracted here the Tyne for so long are lost forever.” be amazed at how many Geordies there are over there. “He’s an incredibly hard grafter. Most of these men are my age – in their 50s. GREATCONNECTIONS WITH TEES VALLEY #2 “They now probably have a fairly good Chris Rea - Middlesbrough born singer-songwriter,selling over 30 million albums worldwide to date. I bumped into a lad I know from Wallsend a lifestyle in a warm climate. How do you find afresh week ago who works in Malaysia. He’s a “It would have to be a fairly lucrative enticement to bring them back to the harsh take on aclassic brand boilermaker and he told me you’d be realities of a British winter.” Q Tom Brennan, regional secretary of the and increase salesby amazed at how many Geordies there are GMB, says: “I would say there must be over there. He’s an incredibly hard grafter. between 2,000 and 3,000 workers from the £4 million? North-East working abroad. Most of these men are my age – in their 50s “They will come back if they have the continuity of employment. If they could get two to three years work from the aircraft Davey Hall, carriers – and there is no reason why they Unite Northern Regional Secretary can’t – that would be sufficient for them to come home.” Incredibly, despite the downturn in work, men who are skilled in “black trades”, such as welding and boiler-making, are usually snapped up by the few remaining yards. The lack of apprentices being trained over the past two decades has left a dwindling supply of skilled men. Mr Brennan says: “I welcome McNulty’s opening a place in India if it helps them. “There won’t be any threat to jobs in the North-East, because there’s going to be lots of work from the aircraft carriers. “The threat will come from the skills shortage. “There’s going to be a massive skills On the road to hell? Relax! shortage unless we start training people and getting more apprentices.” McNulty’s struggles to find welders, pipe- Let Vantis help you go your own way, fitters and electricians on South Tyneside, where nearly one in four people are and steer you out of your business congestion. unemployed. A typical welder on the Tyne earns an annual salary of £25,000 for a 40-hour week, Call Vantis, your local financial drivers on 01642 221 331 with the opportunity to boost his salary with for afree, no obligation business profile. overtime. Mr Keyworth says: “There was a River Designing Demand: Tyne initiative in 1997 led by Swan Hunter, A ■ ACCOUNTANCY ■ TAXATION ■ BUSINESS ADVICE ■ CORPORATE FINANCE ■ ASSET aprogramme to help businesses realise their potential. FINANCE ■ FORENSIC ACCOUNTING &DISPUTE RESOLUTION ■ BUSINESS RECOVERY ourselves and A and P Tyne. &PERSONAL INSOLVENCY SERVICES ■ RESTRUCTURING &TURNAROUND SERVICES ■ “It was estimated that the average age of a SME Workshop, North East BIC 20.11.07 OUTSOURCING ■ MANAGEMENT CONSULTANCY ■ COMPANY SECRETARIAL ■ worker was 49. Now I would say it’s probably To book call: 0191 244 4000 or visit: www.designingdemand.org.uk CUSTOMS DUTY RECOVERY&ADVISORYSERVICES ■ INDEPENDENT FINANCIAL ADVICE 50-plus. ■ HIGH NET WORTH SERVICES ■ SPORTS ADVISORYSERVICES &SOLUTIONS “We tried to secure central government funding to head off the current situation, but Vantis ·Tees Valley (Middlesbrough, Darlington, Hartlepool) it never materialised.” A spokesman for the Government-backed T: 01642 221 331 · F: 01642 218 515 regional development agency One NorthEast E: [email protected] · www.vantisplc.com think success says: “Clearly, it would add great value to the LOCATION, LOCATION, LOCATION: McNulty’s yard, in South Shields, South Tyneside, which will remain the hub of the company’s operations, even when it opens a yard in India regional economy to be able to bring back 8 BUSINESS ECHO COMMERCIAL PROPERTY www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 It’s a healthy outlook!
xLeisure, the new gym and treat Hair and Beauty Salon within conurbation. It provides easy access FIGHTING FIT: Shami health club based at UK Fx Leisure, which has also proved to to Newcastle International Airport Land Estates’ Maingate de- be a big hit with both members and and to Newcastle Central Station and Chodury (left) with John F velopment on Team Valley, non-members alike. includes office, hotel and retail/cafe Seager at Fx Leisure has had a flourishing first Centre manager, Shami Chowdury, users and provides a vibrant devel- six months since opening its doors in said: “We have worked extremely opment at the north end of Team Val- May. hard to ensure that the equipment ley. The gym has proved a roaring suc- and facilities on offer are second to John Seager, development survey- cess with its members and raises the none and the response we’ve had or at UK Land Estates and also an Fx standard in terms of equipment and from our members has been fantas- Leisure member, said: “The develop- facilities they have to offer. tic – they love it! ment has transformed the northern As well as a state of the art gym- “The gym currently employs 15 entrance to Team Valley and the ad- nasium, Fx has a fully air conditioned staffto look after all training needs dition of Fx Leisure has enhanced aerobics studio, a cardio-disco room, and applications for membership this further. a dedicated yoga and pilates suite and have been so strong that we have de- “The development has brought a spinning room on the first floor. cided to limit the numbers at the cur- more than 300 jobs to the Valley.” The ground floor includes an 18m rent prices with only 50 places left.” Patrick Matheson, of Knight Frank heated pool, two Jacuzzis, a sauna The gym completes UK Land Es- in Newcastle, said: “Maingate has at- and a Japanese steam room. All this tates’ mixed-use Maingate develop- tracted the highest quality occupiers. as well as running 60 exercise classes ment and space is fully let. It has created an iconic vitality to a week. The development has access to the complement the region’s longest-es- July saw the opening of City Re- A1 and to the entire Tyne and Wear tablished business park.” Racing certainty
BUSINESS agents Moralee & Co pletion took a mere four weeks. has announced that J H Johnson, The detached pub situated in one of the most renowned race- its own grounds was sold offan horse trainers in the area, has asking price of £250,000. purchased The George, a large ■ Business agency Christie + NH500 KITCHENS, BEDROOMS & DOORS in Teeside. Turnover freehouse in Crook, County Co has sold a traditional £200,000. Good Profits. Spacious showrooms, workshop, storage Durham. newsagent on the outskirts of and 2 bed accom. Lots of parking. Retirement sale. Huge potential. Michael Wilds, of Moralee & North Shields in Tyne and Prop & Bus £375,000 + SAV. Wear. NH557 HAIR & BEAUTY in Co, said: “Freehold properties of sought after North Yorkshire town. this particular quality are few C&D News is situated on T/O £135,000 pa. Only 5 days trading. Spacious very well and far between and we are de- Howdon Road, which is one of designed salon. Long established. Scope for enthusiastic owner. On lighted that a local businessman the main roads leading out of rent (new lease). Business the town. The sale of the £89,500 + SAV. has decided to purchase. NH572 SUB PO/CONVENIENCE “The whole process, from Mr business included two-bedroom STORE in East Coast village. T/O £364,000 pa @ 20% gross & Johnson’s initial interest to com- owner’s accommodation, a large increasing. PO salary £24,000 pa. Unopposed position. Attractive 3 backyard and an bed accom. Secluded garden. outhouse. Simon Prop & Bus £425,000 + SAV. Aycliffe Industrial NH600 FIRES FIREPLACES Robson, of Christie + & HEATING in North East Park of England. Turnover £310/ Co, said “The 320,000 pa. Good trading WEModernSELL position. Retirement sale. On rent purchaser is a local possible freehold. Business business owner, who £49,5000 + SAV. BUSINOfficeESSES I M P R E S S I V E : The Staincliffe To Rent plans to introduce Telephone: new lines to form a Hotel at Seaton Carew 0113 2390330 TalkFrToom £50Us convenience store.” clifford-lax.co.uk per week inclusive An asking price of (plus VAT) £125,950 was sought.
FOR SALE AGENCY|VALUATION SERVICES | INVESTMENT |CONSULTANCY Faverdale North Sea-view hotel Darlington on the market Approximately36,000 sq ft on 2.89 acres Suitable foroccupiers,developers and investors Hotels +Pubs +Restaurants +Retail +Care www.christie.com Contact Jonathan Simpson 01642 870870 HOTEL with superb viously been used for wedding RobertHouse Westpoint House sea views, situated on functions. Teesdale Business Park Stockton on Tees TS17 6BA DURHAM NEWCASTLE sandersonweatherall.com the coast of Seaton Chris Parrott, who is handling £110,000 Leasehold £100,000 Leasehold Carew, near Hartle- the sale, said: “The vendors have Sanderson A pool, has been placed owned the business for over four Newcastle Office THE HARDWICK ARMS HOTEL SHIP INN, BENTON Weatherall on the market through the New- years and are wishing to sell to ex- Shakespeare House +Imposing former coaching inn +Established pub in sought-after area castle office of international hotel plore other business interests. 18 Shakespeare Street •Village centre location •Wet sales only, sales year end 2 007 £343,375 net agents Christie + Co. “We feel that an opportunity to NE1 6AQ •11ensuite letting bedrooms •4-bedroom owner’s accommodation The Staincliffe Hotel is an im- purchase a good-performing Tel: 0191 222 1740 •Public bar and restaurant (40) •Good size public areas posing three-storey building with hotel, restaurant and function OFFICE TO LET a single-storey elevation to the business situated in Seaton Fax: 0191 222 1749 Newcastle Office Ref64/LP4930/G1a Newcastle Office Ref64/LP60519/L1 DURHAM NEWCASTLE rear and comprises 20 themed en Carew, which should benefit from [email protected] suite letting bedrooms, a 40-cover the various re-generation £90,000 Leasehold OIEO £50,000 Leasehold Northallerton lounge/bar, a 65-cover restaurant schemes that have been proposed RESTAURANT RESTAURANT and two function rooms. in the area, very rarely come on to There is ample car parking and the market.” +T/O 2005 £277,161 net of VAT +Busy city centre location a lawned area to the front of the An asking price of £2,300,000 is •15year term lease •35-year lease term, 20 years remaining hotel and further enclosed lawn being sought for the freehold in- •Prominent trading location •Rent c.£16,000 pa, rates c.£4,500 pa Available now, space to the rear, which has pre- terest. •Rent £30,000 pa, 60 covers •Approximately 60 covers Newcastle Office Ref64/LP6848/W1 Newcastle Office Ref64/LP6841/W1 ground floor office in LOTUS has announced DURHAM DURHAM Thirsk Road, Northallerton. the opening of a new dealership in Harrogate. £369,000 Freehold £275,000 Freehold Suitable for small business. Welcoming DriveStyle POSTOFFICE/CONVENIENCE STORE NEWSAGENT Horseless Carriages, Mike Kimberley, CEO of +Post Office remuneration c.£35,000 pa +Prominent main road location Fully renovated and carpeted. Group Lotus said: “We •Advised increasing weekly T/Oc.£6,500 •Confectionery, tobacco and newspaper sales are at a very exciting •Advised Lottery sales approximately £2,400 pw •Established business well known locally 200sq ft. All inclusive FOR SALE stage of our •3-bedroom owner’s accommodation •Advised weekly T/Oc.£7,500 Residential Re-development Opportunity development, with two Newcastle Office Ref64/LP10449/T1 Newcastle Office Ref64/LP10393/C1 rent (excluding BT lines) Nestfield Street, Darlington. new cars due by early 17 UK Offices 2009 and 2010. HARTLEPOOL NORTH EAST minimum term 12 months. The Forge Tavern site. Former public house with “We are focusing on the £224,950 Freehold £95,000 Leasehold planning permission for demolition and erection Lotus of tomorrow. International Offices of 8 self-contained apartments with on-site Steve Williams, London .Barcelona DSSTORES CHILDREN’S DAYNURSERY parking. Planning permission granted managing director of Berlin .Dusseldorf November 07, planning reference 07/00927/FUL. DriveStyle said: “We are Frankfurt .Hamburg +Business in the same family for 20 years +Total registration of 88 Madrid .Marseilles for full details phone Freehold - Guide Price £225,000 delighted to take on the Munich .Paris •Average weekly sales £4,700 •Purpose-built facilities Lotus franchise for •3-bedroom house included •T/O approximately £285,000 pa Harrogate, an area which •Massive scope to extend into spare rooms •Nursery and out of school club 01609 780315 Tel:01325 466945 abounds with sports car Newcastle Office Ref64/LP10463/C1 Newcastle Office Ref64/LP7868/D1 www.carvercommercial.co.uk enthusiasts.” TUESDAY, NOVEMBER 27, 2007 www.businessecho.co.uk COMMERCIAL PROPERTY BUSINESS ECHO 9
Security conscious: Forest Grove has benefited from new security measures, landscaping, repairs to the central car-parking areas and refurbished signage
NEW TO LET
MANDALE PARK BELMONT INDUSTRIAL ESTATE, DURHAM, DH1.
OLLOWING the acquisition a host of further improvements are improvements, both to the units and the common parts, for a term of years of a majority interest in For- planned. the park, and as a result we have at- to be agreed. est Grove Business Park last Units have been refurbished to in- tracted many new occupiers. Letting agents for Forest Grove Busi- F year, new owner Anthony clude new UPVC doors/windows, elec- “Some are new businesses and others ness Park are storeys:ssp, contact Jere- have moved into the area. We are now Bethell, has made a signifi- trically-operated security shutters, re- my Scott for further information (01642 LUXURIOUS OFFICE ACCOMMODATION cant financial investment. tractable anti-ramraid bollards, looking to find tenants for the last re- 230800). This, and the continued enhance- internal/external redecoration, burglar maining units.” SPACEAVAILABLE FROM 200 TO 50,000 SQFT. ments made to the surrounding area alarm and an overhaul of heating and The available units range Mandale Park is abrand new office development at the under the Riverside Park Initiative, has electrical installations. from 62.70 sq m (675 sq ft) to Aycliffe Industrial Park made the location much more attrac- Property manager, David Price, said: 203.73 sq m (2,193 sq ft) and in heart of North East’s communication network, DH1. tive to potential occupiers. “One of the most important issues to a some cases units can be com- Modern Boasting high quality office space set amongst arange of The park has benefited from new se- tenant is good security. bined to provide larger floor Office business activities, including amajor new hotel, curity fencing/gated access, replanting “Before its acquisition by Mr Bethell, areas. restaurant facilities, creche and more. of the landscaped areas, resurfacing/re- the Park was suffering from neglect Lettings are on a full repair- To Rent pairs to the central car parking areas and the majority of the units stood va- ing and insuring basis, with a From £50 TEL 0191 372 7000 and refurbished signage. cant. service charge payable towards per week inclusive www.mandalepark.com A CCTV system is being installed and “Since then we have made significant costs of providing services to (plus VAT)
ALVIS COURT, BILLINGHAM THE BLUE ROOM, DARLINGTON PLAY BAR, DARLINGTON LAND AT OUTRAM COURT, DARLINGTON STATION ROAD, USHAW MOOR Guide Price: £95,000 - £135,000 ALVIS / 15240 / 1 Guide Price: £295,000 - £365,000 THEBL / 15259 / 1 Guide Price: £400,000 - £500,000 ATLAN / 15212 / 1 Guide Price: £95,000 - £140,000 LANDA / 15242 / 1 Guide Price: £115,000 - £155,000 STATI / 15209 / 1 FOR SALE BY AUCTION: A detached single storey FOR SALE BY AUCTION: The Blue Room, Richardson Yard, off Houndgate, FOR SALE BY AUCTION: 38 Coniscliffe Road, Darlington. The subject property is a two storey, FOR SALE BY AUCTION: Land at Outram Court behind FOR SALE BY AUCTION: A two-storey mid-terrace property of traditional workshop and office premises set within a purpose-built Darlington. The subject property is a bar premises situated within the main Grade II listed restaurant premises situated in a desirable location within the centre of Darlington. Larchfield Street, central Darlington. The location is construction set within an established location at Station Road, Ushaw development within the established Cowpen Industrial entertainment area of the town centre. The premises provide a total net area of 326 The subject premises provide extensive and unique accommodation to the ground and first primarily made up of established residential and Moor, Co Durham. The property contains a ground floor retail premises Estate at Billingham. The location is strategically located sqm (3509 sqft) mainly over the ground floor. Accommodation is laid out allowing for floors. The ground floor is given to the main restaurant element of the property that includes an commercial property with access to services and provided with shop window frontage. The premises are provided main for access to the A19, allowing distribution throughout a dance floor, main bar, seating areas and WC provision. The first floor contains a entrance bar / waiting area, main restaurant, rear bar / lounge areas and kitchens. The first floor sales area and significant stores. Net internal area 83m2 (893sqft). The facilities in and around the centre. The subject site is the North East and beyond. Accommodation comprises ‘Quiet Bar’ area. We are advised the property has a capacity of 350 and is permitted is made up of a variety of accommodation including offices and storage space. The property accommodation above is a maisonette comprising kitchen, lounge, of offices, workshop / stores, vehicular access and staff to open until 3am at weekends. Darlington is an established location supporting a provides extensive accommodation as existing and may allow for further development to the level and cleared providing planning permission to erect bathroom and three bedrooms. Ushaw Moor is a small yet established facilities. Gross Internal Area 120m2 (1241ft2 ). The sizeable local community and surrounding population. Transport and services are currently underused floor space, particularly to the first floor. Ground floor area 258m 2 (2777 four apartments and allowing parking provision. The location to the West of Durham City provided with a reasonable level of property is offered for unconditional sale by auction well established including access to the A1 and National Rail network. The property sqft). First floor area 226m2 (2432 sq ft). Total internal area 484m2 (5209 sqft). This site is property is offered for unconditional sale by auction local services and facilities. The property is offered for unconditional on the 27th November 2007. is offered for unconditional sale by auction on the 27th November 2007. offered for unconditional sale by auction on the 27th November, 2007. on the 27th November 2007. sale by auction on the 27th November 2007.
FREDERICK STREET MEADOWFIELD PARKGATE Asking Price: DARLINGTON £255,000
Guide Price: ABFRE / 15218 / 1 £100,000 - £140,000 PARKG / 15195 / 1 Tenanted Investment for sale: 14, 14a, 14b Frederick Street North, Meadowfield, Durham, DH8 8NB. The subject property is a two storey mid terrace of traditional construction. The site has been the WEST ROAD, LOFTUS ALLIANCE INDUSTRIAL ESTATE, DARLINGTON HIGH STREET, TOW LAW subject of recent full refurbishment to allow for three Guide Price: £110,000 - £140,000WESTR / 15238 / 1 Guide Price: £80,000 - £110,000 ALLIA / 15246 / 1 Guide Price: £70,000 - £110,000 FORME / 15185 / 1 elements, a ground floor shop, a one bedroom terrace house and a one bedroom first floor flat. The FOR SALE BY AUCTION: The subject property is set in FOR SALE BY AUCTION: A mid-terrace Industrial FOR SALE BY AUCTION: Former Barclays Bank premises FOR SALE BY AUCTION: Newly refurbished ground ground floor shop premises is occupied by an established commercial location within the centre of Premises set within an established commercial situated at High Street, Tow Law. The subject property is a floor retail unit with A5 consent and two bedroom first Loftus. Forming part of the A174 connecting Redcar with location off Dodsworth Street, Darlington. The two storey end of terrace structure of traditional construction Chisholms Bookmakers at £6,000 per annum Whitby on the North East Coast and approx 25 miles including stone main walls. The interior comprises former floor flat. The subject property is a mid terrace exclusive with approximately six and a half years subject premises provide roller shutter vehicular traditional construction forming part of a row of similar from Middlesbrough. The property is a two-storey three- access door to a workspace within. Unit 7B - Gross customer counter area, offices and safe to the ground floor. remaining of a ten year term. The one bedroom floor solicitors offices with ground floor retail frontage The first floor contains former offices and staff provision. 2 units providing a range of services including A1, A2, terrace and flat are both let on Assured Shorthold and additional office / storage facilities to the ground first Internal Area: 78m2 (838ft ). Unit 8B - Gross Internal Internal viewings are not available due to the current 2 A3 and A5. The property will be offered for sale by and second floors. The property is offered for Area: 78n2 (838ft ). The property is offered for condition of the interior. Gross external floor area 314m2. Tenancy terms at a rent of £375 per calendar month unconditional sale by auction on the 27th November unconditional sale by auction on the 27th Site area 264m2. The property is for unconditional sale auction with vacant possession on each. Total gross rental income £15,000 per annum 2007. November 2007. by auction on Tuesday, 27th November, 2007. 27th November, 2007. exclusive. 10 BUSINESS ECHO PERSONAL FINANCE www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 Between a rock and a safe place
By Jeremy Gates The product is regulated by the [email protected] Financial Services Authority ‘ (FSA) meaning that 90 per cent of Many of you will have any deposit is protected in the event of failure, but a redemption AS Northern Rock shrinks be- a nomination for your fee on early encashment means fore our eyes, and money markets own worst investment investors should only get in- around the world are hit by volved if they are determined to warnings that the credit crunch of 2007, but mine stay the course. could still be causing trouble by With cash increasingly king, I Christmas next year, it is hardly may be hard to beat. can well understand brave in- surprising cash is gushing into vestors signing up to plans that the building societies. So far, I am about promise ten per cent gross in- Figures from the Building So- £1,400 out of pocket cieties Association (BSA) show come with the possibility, at net receipts for last month rising least, of their money back in full above £3bn (£3,2024m to be in December 2017. exact), nearly four times the All they need to remember is £772m raised in October last year. ship, while new members get 6.60 that they are stepping into as yet With lending levels falling as per cent. unproven territory. the housing market runs down, There’s a monthly income op- ■ Many of you will have a nomi- the 59 surviving building soci- tion available on all these bonds, nation for your own worst in- eties are awash with cash. And but any one-year bond closed vestment of 2007, but mine may with only £91m paid into cash within its allotted span loses 90 be hard to beat. So far, I am about ISAs (the tax-free shelter limited days’ interest. £1,400 out of pocket on Invista to £3,000 per person in 2007-8) dur- Nationwide’s rates are guaran- European Real Estate Trust, but ing October – against £65m in Oc- teed, which could look increas- that is the least of my worries. tober last year – savers might be ingly attractive if the governor of This fund is based in Luxem- rushing for cover instead of the Bank of England carries out bourg, which means Kevin the thinking long-term about where his promise to reduce rates next postman forever waking me to to find the best returns on cash. year if recession looms. sign for registered letters from Savers ready to lock up money Anyone determined to stay in Luxembourg inviting me to at- STORMY TIMES: Cash is pouring into building societies as savers seek a port in the storm for at least a year can expect cash for a long time ahead might tend the latest meeting over gross returns approaching seven look at the Assured Income Plan there to hear how badly we are ■ Shopping till you drop may be the UAE, Saudi Arabia, Kuwait, items and hand-me-downs we per cent – one-year fixes include (AIP) from Baronworth Invest- getting on. Invista encouraged the main spectator sport for Qatar, Egypt and Oman, with the don’t actually like, with the aver- Birmingham Midshires at 6.88 ments, an Ilford, Essex-based fi- high hopes early on, but I fear Western visitors to Dubai, but flexibility to invest also in Mo- age person owning 12 items at an per cent, with a monthly income nancial advisor, which says that my holding in Alpha Pyre- the Middle East is also worth a rocco, Tunisia, Lebanon, estimated value of £9,466 per per- option, and Principality’s at 6.85 many of its clients are too ner- nees – another European proper- look by the shrewd investor, says Bahrain, Jordan and Palestine. son. per cent. vous to hold shares. ty fund – is doing miles better. Mick Gilligan, at fund manager ■ If the financial going gets re- According to Prasad Shastri, Nationwide’s new range of The AIP, devised by Catalyst My broker, keen to see the good Killik and Co. The region is ally tough, many of us could flog Abbey head of insurance mar- fixed-rate bonds includes one Investment Group, promises ten in everyone, explains: “Invista is tipped by the IMF to deliver GDP the items in our own homes to keting, only 20 per cent of us year at 6.70 per cent (for annual per cent annual gross income suffering because of poor news- growth of 5.9 per cent this year raise some extra cash. bother to sell on the items we income, 6.55 per cent for month- fixed for ten years, 8.25 per cent flow. Nobody knows what’s going and next. Abbey’s home insurance oper- don’t really like, while 15 per cent ly) for existing members with a fixed for seven years or 7.5 per on, so it’s falling because of gen- Gilligan tips The Arab Gate- ation reckons our homes are bite the bullet and display those minimum three years’ member- cent fixed for five. eral lack of interest”. way Fund, already invested in stuffed with £50m of inherited things we don’t like. TUESDAY, NOVEMBER 27, 2007 www.northernecho.co.uk SHARES BUSINESS ECHO 11 Punch scotches talk of merger with pub chain Now not the time
PUB group Punch Taverns yes- By Business Staff pledged to invest heavily in its terday poured cold water on spec- [email protected] portfolio of pubs in the North- for irrational and ulation it was in talks about a East and North Yorkshire in the £5bn merger deal with the owner coming year. of All Bar One. mer’s turmoil in financial mar- Shares in the company have Punch Taverns, which oper- kets delayed M&B’s £4.5bn plans fallen steeply since the summer, hasty decisions ates about 200 licensed premises to put 1,300 of its pubs into a tax- from a high of £13.97 in May to a in the region, was said to have ap- efficient property venture with low of £8.24 last week. entrepreneur and major share- proached leading shareholders of M&B was founded in 1898 from N theory, making money by holder Robert Tchenguiz. Mitchells and Butlers about a the merger of two Midlands’ fam- investing in the Stock deal to create a business with Some M&B investors are said ily businesses. I ‘ Market should be a simple 11,000 pubs. to be keen to revive this deal as fi- Its other brands include Toby affair – all you have to do is When share prices But following a weekend of nancial markets recover, al- Carvery, and O’Neills. buy a share at one price and press speculation, the group told though others are understood to Its pubs and pub restaurants – sell it for a higher one. are falling sharply, the stock market yesterday that have looked favourably on a tie- mainly concentrated in residen- Of course, in practice, things many investors often no such talks were taking place. up with Punch to create returns tial areas – are managed, giving are not that simple. For one The statement said: “Punch for shareholders. the company control over the thing, share prices can fall, panic and sell the Taverns notes the current specu- Punch, which is based in business. sometimes rather alarmingly, lation regarding Punch and Staffordshire, has more than M&B, which will report its an- as Northern Rock shareholders same investments Mitchells and Butlers. 8,400 pubs and earlier this month nual results on Thursday, has will testify. they had bought a “Punch confirms that it is not posted pre-tax profits of £282m run up costs of £140m so far In addition, it is also in discussions with Mitchells and for the year to August 18. thanks to its delayed property impossible to predict which few months earlier Butlers or any Mitchells and But- At the time, it said it was opti- deal. Last year group profits were way a share price will move lers shareholder regarding any mistic about future trading, de- £208m, although that is expected with absolute certainty, offer or merger.” spite “unprecedented poor to fall by about six per cent to NO DEAL: Punch chief because there are a myriad of Why am I telling you this? The reports came after sum- weather and flooding” and £196m. executive Giles Thorley factors that can move share In recent weeks, we have prices, many of which cannot seen incredible volatility in be easily quantified. stock markets, and there are Market report Share prices One of the more fascinating signs of market irrationality. areas of investing, in my Only a month ago, many opinion, is the complex area of stock market investors were THE FTSE 100 Index lost more NORTH AMERICAN Low Bonar...108½ -¼ IND ENGINEERING OIL & GAS PROD Indicators behavioural finance, which pretty euphoric, driving the than one per cent of its value yes- B & Dck .£39.16 -0.52 Mrshlls ....291¼ +4½ 600 Group ...... 55¾ Norsk Hdro .635 -10¾ tries to explain how investors FTSE 100 Index, the most high- terday, despite the emergence of Du Pnt .£21.75 +0.16 ELECTRICAL EQUIP Charter...... 903½ -5 Premier...... 1182 +8 cause, and react to, share price profile UK stock market a potential saviour for troubled AEROSPACE Chloride...... 183 -½ Fenner ...... 255¼ +2 R Dtch Shll A1969 -25 The FTSE 100 ...... 6180.5 movements. benchmark, above the 6700 R Dtch Shll B1953 -28 lender Northern Rock. Chemring.....£20½ -½ Domino .....267½ -2½ FKI ...... 72½ -4½ Down...... 81.6 The theory says that if level for the first time in nearly IMI...... 466 +2¾ PHARMACEUTICALS investors can recognise the The crisis-hit group finished Cobham ..199½ +1¾ Invensys..246¼ +5¼ seven years. Meggitt....311¾ +1½ Mrgn Cru...254½ -3¼ Man Brnze .....602 +8 Astraznca ....£22½ -½ US dollar ...... 2.0689 inherent psychological flaws the session more than 28 per cent Axis-Shield...255 +½ This was despite the much Rolls Royce ....517 -½ Ox Instmts ..213 +1¼ Metalrax ...... 24 +1½ Up...... 0.0111 wired into their brains, higher after a Virgin-led team Glaxo ...... 1227 -11 publicised collapse of the US AIM Volex Grp...... 136½ -3 Molins...... 140½ irrational behaviour and poor was named as preferred bidder to REAL ESTATE Euro ...... 1.3919 sub-prime mortgage market Cape...... 248 -3 FOOD RETAILERS Renold...... 92 +1¼ investment decisions can be Senior...... 107 -6½ Brit Land.....860 -42½ and the corresponding credit revive the business. Chaplthrpe...32½ +¼ Morrison.....299 +1½ Up...... 0.0048 Spirax Srco...970 -4½ DTZ Hldgs...... 310 -4 reduced. crunch that has battered many But the Footsie failed to hang Dawson Intl...... 2½ Sainsbury..422½ -2½ Weir Grp .....782½ -15 Gt Port ....481¼ -22¼ Many books have been companies around the globe. on to early gains as wider uncer- Inveresk...... 10¼ Tesco...... 465 -8 IND TRANSPORT Hamrsn ...... 950½ -49 written on the subject, several tainties over banking and prop- Thorntons.....189½ -3 Popular shares Now, only three weeks later, Nichols...... 256½ -½ Forth Ports ....1775 -2 Land Secs....1460 -68 of which recall entertaining erty stocks dragged the bench- FOOD PRODUCERS the FTSE 100 Index is trading Scapa Grp ...30¾ +¼ Salvesen...... 90¾ -1¼ SUPPORT SERVICES stories of previous stock mark index down 81.6 to 6180.5 by AB Food...... 881 -1 Alliance & L...... 614½ -31 HSBC HLDGS...... 811½ -15½ close to the 6000 level, a rapid Youngs ...... £20¼ -1¾ TDG...... 204 -6 Amec...... 732 -6½ market bubbles, fads, crashes the close, which is below its start- AUTO & PARTS Cadbry Sch....598 +3 API Grp...... 38 -3½ Aviva ...... 653 -17½ Intl Power ...... 469 +¼ collapse of more than ten per INVESTMENT BAE Systems ...... 460½ -13¾ Kelda...... 1088 +32 and general mayhem in ing point for the year. GKN ...... 304¾ +3¼ Carrs Millg ...... 557½ Bunzl ...... 699 +14½ cent. All Trust...... 347 -3½ BG ...... 965½ -20½ M&S...... 614 +3 markets. Nth Foods.....93½ +1 Capita...... 687 -7 Confidence has been US markets also fell into the Wagon...... 24¾ +¾ Br Assets ...... 130¾ BP...... 573½ -4 National Grid...... 815 +13 One of my favourites is BANKS REA Hldgs .....510 -10 Davis Serv..511 +6½ replaced by a distinct whiff of red after a brief rally following Candover.....£20½ -¼ Bradford & Bing...264¾ -12¼ Pennon Grp ...... 648½ -14 Charles Mackay’s the Thanksgiving break – further Alld Irish..969½ -22¼ Tate Lyle...... 422¾ -¾ Dunedin Inv ..242 -1¼ De La Rue....781 +13 Brit Airways...... 329¾ -16 Sainsbury...... 422½ -2½ panic, with talks of a US Elctro Com .....217 -¾ Extraordinary Popular All & L...... 614½ -31 Unilever ...... 1757 -10 Dunedin...... 121¼ -¼ British Energy ...... 501 +13 Scottish & Sthrn...... 1539 -18 recession, a Chinese stock undermining confidence in Lon- Hays ...... 121¼ +½ BT Grp ...... 285½ -5½ Severn...... 1462 -7 Barclays .....497 -13½ GENERAL FINANCIAL Edin Invst ..450¼ -7¾ Delusions and The Madness of market bubble and the collapse don. Johnson Serv...37 -26 Centrica...... 345¾ -2 Tate Lyle...... 422¾ -½ Bk Ireland ..704 +7½ 3i Group ...... 1062 -40 Edinb USTT...... 544 -1 Crowds, written in the 1840s. But Northern Rock was the McAlpine A....479 +8 GlaxoSmithKline...... 1227 -11 Tesco ...... 465 -8 of the UK housing market, just Clse Brs ..877½ -14½ Forgn & C.....304½ -5 Mackay highlights how Footsie’s leading riser, advancing HSBC ...... 811½ -15½ Menzies J...518 -11½ HBoS ...... 742½ -12½ United Utils...... 724 +6 a few issues now on investors’ Prov Fin...810½ -12½ markets are particularly Lloyds .....455½ -14¾ Hend Smllr Cos242 -1 Prm Frnll..139¾ +2¾ minds. 24.2p to 110.1p as shareholders Schroders....1304 -41 Scot Am ....227¼ -1½ susceptible to manias, panics welcomed the chance to stay on Ryl Scotland ....413 -8 Rentokil ...149½ +2½ As I’ve said before, Stan Chart ...1689 -22 Schrdrs NV ..1136 -32 Witan...... 456¼ -1¼ and crashes because prices can board to benefit from any recov- Travis & P..1302 +20 Northern shares investment is a longer term BEVERAGES Avon Rbbr ..160 +1½ LIFE INSURANCE Wolseley....660½ -7½ be driven to extraordinary game and nobody knows what ery, despite the likelihood of a Rexam ...... 478 +1 Friends Prov..153 -1¾ heights by irrational Barr AG...... 1198 +5 TECHNOLOGY Arriva ...... 765¼ -6¾ Northern Rock...109¼ +23¼ the future may bring. However, cut-price offer to investors. Diageo...... 1076 -9 Smith DS ..216 +10¼ Lgl & Gen ..125½ -3¼ Psion ...... 97 behaviour, only for confidence Old Mutual ....157¾ -3 Barrat Dev ...... 457½ -26½ Northern Venture Tst ...... 73 in such volatile market But among other banking Scot New...721½ -9½ Tomkins...... 186 +7 Sprnt Com...64¼ -1½ Bellway...... 955¾ -37¾ Northgate ...... 723 -7 and greed to turn quickly into Prudential ...... 632 -28 conditions, now is not the time stocks, there was more nervous- CHEMICALS GENERAL RETAILERS TELE (FIXED LINE) Chieftain ...... 182½ North Water...... 328½ -½ fear and despair, sending MEDIA to make irrational and hasty ness over credit crunch fears as Croda ...... 553 -5 Ashley L...... 24 +1 C&W ...... 182¼ +¾ Garner ...... 6½ Opsec Security...... 57½ -1½ prices into freefall. HR Owen ...... 125½ BSkyB ...... 629½ -4½ Clt Telcm ...155¼ -3¾ Go-Ahead...... £24½ -¼ Persimmon ...... 769 -25 decisions. HSBC revealed bailing out two of Delta ...... 114¾ +¾ Grainger ...... 351 -8¾ Two commonly recognised Chrysalis ...... 106 -1 Thus Group.....130 -¾ Premier Direct ...... 40 its investment vehicles cost the Elem 98.....86¾ +2½ Inchcape ...411½ -7¾ Greggs ...... £47½ -½ “psychological flaws” are the 3 D Mail Tst .....543 -6½ TELECOM (MOBILE) Sage Group ...... 202¾ -5¼ lender £20bn. ICI ...... 664 +½ Kingfisher ..162¾ -5 / 8 Helius Energy ...... 57¾ -½ Pearson ...... 727½ +3 Vodafone...183½ -3¾ ScS...... 116¼ -6¾ tendency for investors to buy Jhnsn Mat..1676 +19 M & S...... 614 +3 Kelda...... 1090 +34 HSBC was down nearly two per Reuters Grp .....592 -7 TOBACCO Metnor Group...... 202½ Severfield Rowen ..495½ -2½ shares close to the top of the COMP SERVICES cent, or 15½p, at 811½p, while Next...... 1777 -35 Trin Mirr...346¾ +3¼ Br Am Tob....1840 -15 Northern2VCT...... 79½ Southern Cross...555¾ +5¼ market, only to panic out close other financial shares in the red Computcntr....171 +3 Signet...... 77 -1½ MINING Imp Tob...... £24½ -½ Northern Investors ...... 221½ Stadium...... 61½ -1 to the bottom. Northern Recruit ...... 84 Vp...... 396½ +1½ after early gains included Logica.....123¼ +2¾ WH Smith ...301¾ -15 BHP Billiton..1541 -27 TRAVEL & LEISURE Many studies have shown Misys ...... 188¾ -5¾ Barclays, off 13½p at 497p, and HEALTH CARE Lonmin...... £29½ -¼ Compass.....297½ -½ that investors are most Royal Bank of Scotland, 8p CONSTRUCTION Smith Nph...... 574 -1 Rio Tinto...... £52½ -½ FirstGroup...... 696 -8 Bal Beatty ...460¾ +1 Tourist Pound comfortable committing funds weaker at 413p as interbank lend- HOUSEHOLD GOODS NONLIFE INSURANCE Ladbrokes...... 302 -7 CRH ...... 1668½ +25 Reck Ben...£27½ +¼ Marsh McL ..1193 -11 Rank Org ...82¼ +1¾ in association with to the stock market when the ing rates edged higher. Costain...... 27½ +½ Tay Wimp ..198 +1½ Ryl & Sn..139¾ +1½ Stagecoach ..241 -1¼ economy is buoyant, company Meanwhile, mortgage lender results are strong and there is Alliance and Leicester was 4p to 573½p, and Royal Dutch generally a feeling of economic the Footsie’s leading faller, down Shell slipped 28p to 1953p. Australia...... 2.234 dollars Malta ...... 0.570 lira wellbeing in the air. 31p, or nearly five per cent, at Another faller was pubs chain Canada ...... 1.941 dollars New Zealand ..2.597 dollars Unfortunately, by the time Cyprus...... 0.776 pounds Norway...... 10.648 kroner 614½p, after weekend reports of Mitchells and Butlers after these conditions prevail, share possible sub-prime mortgage Czech Rep .35.328 korunas South Africa...13.445 rands prices have generally already Punch Taverns dismissed specu- Denmark...... 9.916 kroner Sweden ...... 12.347 krona writedowns. risen sharply, and most of the lation of talks about a possible Euro ...... 1.341 euro Switzerland.....2.178 francs Apart from Northern Rock, Hong Kong...15.341 dollars Turkey ...... 2.337 new lira best gains have already been bid for the All Bar One owner. Mark McMullan, above mining stocks made the early Japan ...... 213.879 yen US ...... 1.989 dollars had. Shares in M&B were off 32½p at ■ Mark McMullan is an assistant direc- running to lift the benchmark Similarly, there is a natural 608½p, a fall of five per cent. tor in the Teesside office of Wise Speke, index, although their advance Elsewhere in the sector, there HAYS TRAVEL tendency to sell shares at the and can be contacted on 08452-131340. tailed off as the session pro- Property also had a poor ses- 0% Commission on foreign currency wrong time. was patchier progress, with sion amid concerns about a slow- Prices may fluctuate from time of press Views expressed are the author’s own gressed. Xstrata gaining 45p to 3063p and Branches at: When share prices are falling and are not necessarily held throughout Rio Tinto touted its growth ing market, with Hammerson BISHOP AUCKLAND Tel: 01388 663777 sharply, many investors often the Brewin Dolphin Group. Past perfor- Vedanta Resources ahead 20p CROOK Tel: 01388 766166 prospects yesterday and revealed off 49p at 950½p and British DARLINGTON Tel: 01325 486131 panic and sell the same mance is not a guide to future perfor- at 2056p. DURHAM Tel: 0191 3847690 plans for a dividend increase as it Land down 42½p at 860p. investments they had bought a mance. The values of investments can fall FERRYHILL Tel: 01740 654003 and you may receive less than your orig- seeks to ward off interest from Energy stocks were also in In the second tier, waste man- NEWTON AYCLIFFE Tel: 01325 320611 few months earlier – at a much focus with oil prices close to $100 PETERLEE Tel: 0191 5184990 higher price – in order to inal investment. Wise Speke is a division BHP Billiton. But Rio finished agement company Biffa was off SEDGEFIELD Tel: 01740 622411 of Brewin Dolphin Ltd, a member of the a barrel, with British Energy up SHILDON Tel: 01388 777000 preserve what capital they the day 83p lower at 5232p, while 33½p at 291½p after it confirmed SPENNYMOOR Tel: 01388 819297 London Stock Exchange, authorised & 13p at 501p and Tullow Oil ahead it had rejected a private equity- have left, out of fear of losing regulated by the Financial Services Au- suitor BHP was down 27p at WE OFFER 1541p. 12½p to 588p. Elsewhere, BP fell led takeover approach. even more money. thority. 12 BUSINESS ECHO www.businessecho.co.uk TUESDAY, NOVEMBER 27, 2007 Skills Pledge Gathers Pace
An initiative aimed at increasing the skill levels of the nation’s workforce is proving to be a hit with businesses and organisations in the North East.
The Skills Pledge was launched back in July “However, we need as many businesses as at an event in London, heralding the fact possible to commit to this important that more than 1.7 million private and initiative if we are to truly change the skills public sector employees were to be covered levels of this region’s workforce.” by a Skills Pledge Liz Smith, Assistant Regional Director of In the North East, the Skills Pledge is being the Confederation of British Industry, said: supported by leading business “The business case for training is clear cut, organisations, the North East Chamber of with it leading to improvements in Commerce (NECC) and the Confederation productivity, job satisfaction and staff of British Industry (CBI). retention, and companies investing in Since its launch, more than 50 North East training their staff are investing in their businesses and organisations employing business. thousands of staff have demonstrated their “Businesses in the UK invest £33bn in commitment to training and development training and skills, and by signing up to the by signing the Skills Pledge. Skills Pledge companies can make public As the campaign has gathered momentum their commitment to training. To compete over the last four months, major employers in a global economy it is vital that like Bannatyne Group, Middlesbrough companies continue to invest in their Council, The Student Loans Company, and workforce. Many North East employers The North East signs up to the Skills Pledge. Pictured from left to right are: Simon Murray, of CITB most recently Newsquest (North East) Ltd, have already signed up, and we would Construction Skills; Jackie Huckvale, of Southern Cross Healthcare, Gillian Collinson (rear) of One encourage other businesses to do so.” NorthEast; Sarah Green (front) Regional Director of the CBI, Steve Pallas, of Nissan, Joanne Machers, of the publishers of the Northern Echo, Hartlepool Borough Council; Trevor Mann, Senior Vice President of Nissan Manufacturing Europe, Dave Darlington & Stockton Times and the Chris Roberts, Regional Director, LSC Cheetham, of Nissan, and Chris Roberts, Regional Director of the Learning and Skills Council North East. Advertiser series, have made the Skills North East said: “The big message from Pledge. this campaign is don’t get left behind. We Below is a list of all the North East businesses and The Skills Pledge is open to all employers want it to be as easy as possible for people organisations who have signed the Skills Pledge as of of all sizes in the private, public and to access information and understand what voluntary sectors, and the CBI and NECC help is available for them to get the skills 31st October 2007 are encouraging more employers to follow needed to get on in life and business. Altechic Metromail Ltd suit. “A well trained workforce equips all types Applied Heating Services Ltd Minacs UK Ltd Employers that make a commitment to the of organisations with the ability to meet the Assessment North East NCP Lantit Skills Pledge will have access to a Skills challenges of today’s fast-moving world of Beamish Museum Newcastle City Council Broker, part of the jointly funded LSC work. Thankfully, more and more Bioscience Centre Newcastle College North East and One NorthEast Tr ain to employers are realising the sound sense and B-Skill Ltd Nissan Motor Manufacturing UK Ltd Gain service. Developed as part of a wider commercial advantage of improving the C2M (UK) Ltd Northumbrian Water Limited effort by the Regional Skills Partnership in skills of their staff, and we are delighted C&S Driveways OneNorthEast the North East to increase the productivity that Newsquest has joined an ever CCS Training Percy Anderson Limited and further regenerate the region, Tr ain to expanding list of Skills Pledge supporters.” CELS Premier Waste Management Gain will ensure that skills brokerage is Centrex Computing Services QGS Synergy The Skills Pledge was introduced as a direct Limited available to all employers in the North East response to the findings of the 2006 report Reach Out Care Chesshire-Hope Redcar & Cleveland College “Review of Skills” by Lord Leitch. Central Chester le Street District Council The service offers impartial advice and Rok to the report’s recommendations was an City Of Sunderland College matches training needs to local learning Slater Drive Systems Ltd ambitious challenge for the UK to become Darlington College providers, to ensure that flexible, South Ty neside College a world leader at all levels of skills, and the David Fry Ceramics responsive training programmes are Special Occasion need for individuals and employers to Debmat Surfacing Limited delivered to meet employers’ needs. A core Springboard element of Tr ain to Gain is the access to recognise the value of training and skills. E T E C Engage TV Stockton Riverside College appropriate funding of Skills for Life, first Steve Pallas, Training and Development Flatbread Coy Student Loans Company Level 2 NVQs, Level 3 NVQs and Manager at Nissan Motor Manufacturing Hartlepool Borough Council Sunderland City Council Management and Leadership training. UK, one of the first organisations in the Hartlepool College Of Further T & C Industrial Cleaning James Ramsbotham, North East Chamber North East to sign the Skills Pledge, said: Education Te es Valley Regeneration of Commerce Chief Executive, said: “One “The business benefits of training are clear Hellens Group Limited The B Group of the most pressing issues facing and, at Nissan, we see direct correlation Hytorc Unex Ltd The Images Group businesses today is skills, so we are between training and improvements in ITEC North East Limited To tal Sport delighted that businesses in the North East quality and productivity. If we measure key Jilanda Securesmart Tr anscendit Limited are embracing the importance of the Skills performance indicators before and after John W & S Dorin Ltd University Of Te esside Pledge. training, we always see an improvement.” Mclaran Financial West View Project