Ulster Bank's Operating Loss Up £56 Million.

The Ulster Banks parent, RBS, published its annual results for the year ending 31st December 2012 this morning. As befits a multi billion pound Company the report extends to over three hundred pages. A physically impressive tome it may be, but the figures presented by Mr Hester hardly merit that adjective, - well maybe with a large dose of sarcasm. The, "Shreds," successor tries to see positive elements in the columns of figures. He points to the operating profit before impairment losses. But you do have to take account of impairment losses. They may, strictly speaking, be non recurring items, but they seem to be becoming a regular feature in the accounts. The bottom line, and isn't that what we should be concentrating on, shows a loss attributable to shareholders of £5,971,000,000.

The index to the report points us to page fifty for the constituent figures for Ulster Bank. Unfortunately they don't provide a little nugget of hope for the Group. Before impairment losses the operating profit has declined from £400m to £324m - a decline of 19%. What then of the infamous impairment losses? Well they have declined from £1384m to £1364m. Hoorah! However after you factor these into the figures we find that the Ulster Bank's operating loss has increased from £984m to £1040m. Hardly an A*performance. The fallout from the property crash is still affecting the figures.

Mr Hester is reported as saying that the Royal Bank Group will be ready for sale by 2015. Is he being overly optimistic? On the evidence of the present figures it might be difficult to share his confidence.

Tottering Around the Track - But not too gently.

Spring is in the air even if it isn't quite in my stride. Flatness of stride is something which the middle distance runner of mature years has to fight against. It is rather an unequal fight as you can't excise the years, but there are some things that you can do, to at least slow down the inevitable decline associated with age. At most of our group training sessions we would spend at least fifteen minutes performing various drills, forcing us to run tall.

Yesterday saw the group take to the track for a series of long reps. This was prefaced by the usual warm up and sprint drills. The actual session consisted of 4 x1000m with a two minute, 200m walk/ jog between the efforts. I wasn't quite sure how this session would go. I started off with a 3min 33s. This was followed by 3min 28s, 3min 29s and then 3min 19s. So an average of 3min 27.25s. The session is supposed to give an indication of your 5k time.

Late Winter Parsnips

There tends to be a paucity of vegetables in the garden at this time of year. The humble parsnip is however one of our winter stalwarts. A hard night's frost brings no fear to this trusty vegetable. Indeed a good hoar frost brings a nutty sweetness to the dear old parsnip.

Come Friday of this week it will officially be spring. My remaining parsnips seem to have already received the news that Spring is in the offing, A few green shoots are already presaging the change of seasons. I will have to eat or process the final stalwarts of the drills within the next few weeks. The above specimens will end their days in the soup saucepan along with a few potatoes and onions and a good dollop of herbs and spices. Parsnip soup can be a bit bland without the addition of the oriental.

Death of the Empress of Blandings

Died suddenly at her home, Crom Castle, Co. Fermanagh. Greatly missed by her friend Queenie. Fondly remembered by her friend and fellow actor, Mr Timothy Spall, (aka Lord Clarence Emsworth). Sty strictly private. No flowers please. Donations if desired to the Smokey Bacon Trust.

Brought up in Lancashire, the Empress, as she was fondly referred to, moved to Co. Fermanagh to take up an acting career with the BBC. Despite not having any previous acting experience she proved to be a consummate performer. Audiences adored her and fellow actors admired her.

Monetary gain was never something which drove this actress. What was important to her was that she had performed to the utmost of her ability. The respect of her peers was payment enough. If she had any fault then it was her excessive love of food.

The BBC have acknowledged that they were, "lucky to have found such a characterful and humorous pig ."

Orchard and Nuttery (part 4)

My nut and apple tree order arrived on Wednesday as advised by the Nursery. They left the deep south at 6 30pm on Tuesday and arrived with me at 10.15 am on Wednesday. Not bad for 15 yoyo me thinks.

Unfortunately I still haven't managed to plant my embryonic orchard.There has been much more work than I anticipated. For the moment the baby trees have been healed in. I have however managed to purchase the necessary rabbit guards. These were sourced from Workmans, the agricultural suppliers in Garvagh. The price was not untoward. Sixty two and a half pence per guard. I also purchased a new grape (digging fork). I was told to go up the yard and go through the first door and proceed to the first floor to inspect the available forks. This involved climbing up a flight of wooden steps which was angled at 50 degrees or more. Lucky for Workmans that the premises must be at least one hundred years old. I don't think that Building Control would be happy with the present layout.

Today I marked my planting spots and I even managed to dig the holes for three of the trees. Hopefully the weather will remain dry for the few days so that I can dig the remaining planting holes and complete this task.

BBC has , "Prostrate," Cancer

I was reading an article on the BBC News Website tonight regarding a research grant which has been awarded to the University of Ulster. We are told that the monies are to be used to , "try to find ways to reduce the spread of prostrate cancer."

I am sure that the researchers would be very keen to prostrate the cancer in question, but I don't think that the name of the affected body part has gained an extra letter.

The writer of the article might also like to reconsider the use of the word, "spread." My medical knowledge might be limited to, "Dr Kildare," and, "Embarrassing Bodies," but I don't think that prostate cancer is an infectious disease which, "spreads." Hardly the correct word methinks.

I wonder if there will be any alterations to the article?

Brain Drain in County Fermanagh.

The Fermanagh Economic Development Organisation is apparently concerned that young people in County Fermanagh are being, "educated for export." Quelle surprise! It has been ever thus and not just in that County, but right across Northern Ireland and the other outlying regions of the United Kingdom.

 

Highly paid jobs tend to be concentrated in large conurbations and tend to require highly qualified individuals. Is it therefore surprising that young people who happen to be gifted,whether academically or technically, should take the boat or plane to London, Birmingham or further afield? I think not. There were forty three individuals in my upper sixth year. I think that twelve have remained in Northern Ireland. I do however have to concede that in the mid 1970's there were other very real reasons to exit this part of the world.

 

The economics of location mean that Co Fermanagh will never have the Uk average of highly paid jobs. Certainly not from organic growth. Government grants or subsidies might persuade the occasional high profile business to set up shop in that County, but without that governmental cloche the economy of Fermanagh is unlikely to ever stanch the brain drain.