The Pin Factory Blog

A message from a good friend of Junksmith:

Did you see the bit of news last week that had a Labour MP for Halifax, bemoaning the potential loss of jobs in her constituency as a result of the merger between HBOS and Lloyds – because HBOS was the second biggest employer in her constituency!! (after the Local Authority) How the hell does the largest UK provider of mortgages employ fewer people than the Local Authority of the town they just happen to be located in….???

He's got a point, you know...

Clowns in Zippo's Circus have been forced to down trumpets because their three-minute sketch would require them to apply for a live music licence at every location they perform. Circus chiefs say that is too costly and time-consuming for travelling circuses.

But Jacqui Kennedy, the Director of Regulatory Services ['Regulatory Services' ???] in Birmingham, where they are currently performing (or not performing) is uncompromising: "We do not condone unlicensed events," she said.

I would think that if Ms Kennedy tried to prosecute a troop of clowns under this daft law she'd be laughed out of court.

The moral of the story: vice shares outperform ethical investments.

A friend of Junksmith forwarded him this email:

1. Teaching Maths In 1970:
A logger sells a truckload of lumber for £100. His cost of production is 4/5 of the price. What is his profit?
 
2. Teaching Maths In 1980:
A logger sells a truckload of lumber for £100. His cost of production is 4/5 of the price, or £80. What is his profit?
 
3. Teaching Maths In 1990:
A logger sells a truckload of lumber for £100. His cost of production is £80. Did he make a profit?
 
4. Teaching Maths In 2000:
A logger sells a truckload of lumber for £100. His cost of production is £80 and his profit is £20. Your assignment: Underline the number 20.
 
5. Teaching Maths In 2008:
A logger cuts down a beautiful forest because he is selfish and inconsiderate and cares nothing for the habitat of animals or the preservation of our woodlands. He does this so he can make a profit of £20. What do you think of this way of making a living? Topic for class participation after answering the question: How did the birds and squirrels feel as the logger cut down their homes? (There are no wrong answers.)

The Guardian's Will Hutton believes the only viable British Paulson plan - bar a £500bn-plus international loan - may require us to join the euro to win the support of the whole of the European economy and the ECB as part of a pan-EU initiative to create `good banks` for Europe.

Just goes to show, sometimes the cure's worse than the complaint!

The IG Noble Awards from Improbable Research.

There are benefits during a financial crisis. 

Does the free market corrode moral character? Here Michael Walzer, Michael Novak, John C. Bogle and others give their answers to this question for the John Templeton Foundation.

Who knows that 'gove' means "to stare stupidly"? This man does; he has just finished reading all twenty volumes of the Oxford English Dictionary.