Peter Hain in the frame

Peter Hain-endorsed Picture Financial to is to shed half its workforce.
THE loans company Picture Financial has announced it will be halving its workforce with the loss of 85 jobs as a result of the credit crunch.Picture, based in Newport, confirmed it would be “restructuring” its business to focus on its loan servicing operation.
Source :Western Mail

Comment:
So what does ‘loan servicing’ mean exactly? If you have a loan with Picture, let us know. Have you been serviced? It will be in the small print somewhere amongst the provisos and disclaimers and herewiths and hereins.
Why is a ‘loans company’ considered to be some kind of brilliant exemplar of business (hot 100) that needs to be pointed to by politicians and media as the way forward for the Welsh economy? Surely we can do better than this?

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Source: BBC NEWS | Wales | Wales ‘is leaving Labour behind’
Mr Hain spoke after Labour was battered at the elections on 1 May, losing overall control of six of the 22 Welsh councils and retaining an overall majority in just two.Labour performed worse in Wales than in England, where the party lost only three out of 137 councils. He is publishing a pamphlet arguing that Welsh Labour needs to face its failure and keep up with social changes, and told The Politics Show in Wales that two successive poor election results showed that “something in particular is afoot in Wales.”

“There are new estates, people don’t go down to the clubs any more, they drink at home, large workplaces don’t exist, unionisation in Wales is very low.”

He said Welsh Labour had always done better than in the rest of the UK, but it was now falling behind.Mr Hain said one reason was a lack of hard campaigning, particularly in heartland areas such as the valleys.

Comment
Yes, this may well be true but there are other equally valid reasons for Labour’s losses to do with complete loss of trust in Labour politicians such as Mr.Hain and in particular Mr.Brown (whose activities have been exposed and careers wrecked by political bloggers) . People are increasingly voting for local issues and local personalities whom they like regardless of their policies. This is reflected in the increases in the number of ‘independents’ and causing problems for not only Labour but Plaid Cymru as well.

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Peter Hain is blaming bloggers for his downfall – see latest installment here and here.

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