Sunday, December 14, 2008

Dubai's soup kitchen

A hotel in Dubai is offering those laid off a free meal, if they show their pink slip:

"A lot of people are finding themselves in a very difficult situation right now," said Mark Lee, general manager of the Arabian Park Hotel, which is offering the meals. "Being made redundant at this time of year is no fun at all, and we're trying to give a little bit of festive cheer back."

The offer comes as Dubai, a fast-growing but debt-heavy city of new skyscrapers, grapples with its first mass layoffs in years.

Several property developers — the most visible employers in town — have laid off hundreds of employees in recent weeks.

Don't think that OPEC will do their best to get prices higher when they meet Wednesday in Algeria.

Which is why Russia, the world's second largest oil exporter has become a strange bedfellow with OPEC, and will attend along with Azerbaijan, Syria and Oman.

The prediction of $30 oil by the Investment banks that touted $200 crude in July is at worse just disengenious and just stupid.

As the lawyers say, "Govern yourself accordingly."

1 comment:

Anonymous said...

Property professionals have spoken in favour of the project. Derek Hatton, director of local agency Morpheus Investments, told OPP: “A great number of buyers are rightly being cautious at present and are making sure that before buying a property, for whatever reason, that the area is sustainable and has plenty going on to ensure its resale potential and capital growth in the future.”