The New Kings Cross Station Opens on the 19th
On of the largest building projects in London hits a big milestone on Monday, the 19th with the opening of the new reception area at Kings Cross station. Before that though drinkers will get a new pub called the Parcel Yard, next Wednesday.
They do seem to be going to hit their target. In one of the pictures, you might just see the working destination board.
A Better Picture
In this post, I said I might be able to get a better picture of the TBMs from a main line train. So today, I tried again.
I took a train to Ealing Broadway station and back again. I actually think if you want to take pictures it might be best to actually go to Acton Main Line, as the Oxford train, I got on return, went past the tunnelling site rather fast.
Note that each of the two tunnel boring machines consist of a large cutting head, with all sorts of ancillaries trailing on behind, like some giant tadpole.
I think that the gantries will be used to lift the machines to the portal at Royal Oak and support the conveyors taking out all of the spoil.
Is Now The Time To Invest In Zopa?
I ask the question as I was at Zopa‘s seventh birthday party and some of their people said, they needed more lenders.
If that had been said by many, you’d have smelt a rat, but I have been feeling for some time, that the value of loans wanted has been growing in size compared to the amount of money on offer.
So I have just been looking at the figures in my Excel spreadsheet that I use to track the company. In January 2011, the ratio of money offered across all markets to that demanded was 4.74. In February 2001, the ratio was 2.78. By comparison in January and February this year the two figures are 1.79 and 1.35. So the amount of money on offer has dropped with respect to demand over the last twelve months.
The drop is totally due to the rise in demand. The average demand in January 2012 was £12.19m, as against to £5.46m twelve months ago. This is a rise of 123%, whereas the money on offer has actually fallen. This could be for any number of reasons, but my guess is that because of the recession, more people are withdrawing repayments and interest, rather than reinvesting them.
So it would appear that Zopa has a bit of a funding gap for new loans.
Also. on the positive side the interest rates returned to lenders have also stood up well and if you take the A* market, this has hovered around the 7% mark since January 2011.
What is interesting and might frighten some investors is that there are occasional monthly fluctuations in the figures. For instance in November and December 2011, rates dropped, but had bounced back by the turn of the year. This probably explained by a slight lack of demand and an increase in money offered. Could savvy investors be putting their Christmas bonus in a safe place?
If I look at my bad debts over the last year, they have gone up by about £80 and 10 contracts. As I limit my exposure on any contract to £50, it is unlikely I’ll get any big hits of a hundred or so, I got in the early days.
So what are the rules for investing?
- Start slow, with investing something you could totally afford to use. I recommend a hundred pounds or so, until you have fully learned how to use the system.
- Concentrate on the two most creditworthy markets; A* and A. The rates you will get aren’t as high as in other markets, but they are less risky. I have a small proportion of my money in the Y or youth market, where 5 contracts have gone bad. But then 6 have in the A market, although these are obviously out of a lot more contracts.
- Set a maximum lending limit for each customer of £50.
- Check your account daily to make sure that the rates you are offering are in the zone or the Zone of Probable Agreement as Zopa calls it. If your rate is too high, no-one will borrow from you and if it’s too low, you might get less creditworthy customers.
- Join the forums on the site, to learn how others think and act.
- Only when you are happy with the system and can trust yourself, do you add larger sums of money to your lending pot!
£43,000 For Breast Enlargements
I had to have a chuckle at this story in the Standard last night, with a headline of, Swindler faked death in £43,000 scam to give his wife bigger breasts.
He’s now in Bangkok with yet another wife.
As it was a benefits fraud that paid for the breast operation, do we get our money or the implants back?
The treadmill and the crank were made for this man, as he would apear to be a serious danger to women, the country and probably himself as well.
Exploring Hackney Central
Many will think that Hackney Central is some run-down area, that was partially destroyed by the riots last August. But look at these pictures.
The church tower wasn’t even all that was left after it was knocked about by the Luftwaffe, but the remains left after an 18th Century moving of the parish church. More details are here on Wikipedia. I do wonder what would happen, if a parish wanted to rebuild their 16th Century church on a different site now!
The reason for the coffee, was that I had a very good one, in the excellent cafe in the Hackney Empire. The lady in the pleasant museum said that the coffee was also good in the cinema on the other side of the road. Note that the cinema is part of the nationwide and independent Picture Houses group.
After my quick visit to Hackney Central, I took the Overground to Stratford, from where I took the Docklands Light Railway to Canary Wharf for lunch. I could have taken one of any number of buses back home, to the City or the West End.
The New Bus for London as a Tourist Bus
I said in my post yesterday, that the new Bus for London makes a superb place from which to explore London as a tourist. So here’s most of the pictures I took from the bus, running on route 38.
The best place to board the bus is either at the Angel in Islington or at Victoria station. But as there is only one in service at the present, you could have a long wait. but there will be eight by the end of May.
i think it is true to say that the standard buses on route 38, aren’t bad for sightseeing. They’re all less than two years old and like the New Bus for London, they’ve been built by Wrightbus in Northern Ireland.
If you want to see a different side of London, go all the way to Hackney, getting off at Central. You can pick up a train from there to the Olympic Park at Stratford or even explore some of the buildings like the Hackney Empire, which is one of the largest theatres in London.
The New Bus for London Goes On Its Way
This was the last picture I took yesterday, as it was getting dark.
New Bus for London On Its Way to Hackney Central
It shows the New Bus for London crossing the traffic lights on its way to Hackney Central.
Note the advert saying it’s “Designed for Londoners” It is! And for visitors and tourists too!
Riding the New Bus for London
I finally caught up with the New Bus for London this afternoon. As I got to my stop to go to Islington, it was going the other way towards Hackney, so I got on the next 38 and asked the driver to ‘Follow that bus!’ Which of course he did, as all 38s go the same way. If there had been a bit of congestion and he’d manage to overtake my intended ride, I’d have just hopped-off one bus and hopped-on the other.
But we were held up and so a couple of stops before the turn around at Hackney Central, I disembarked and crossed the road to the Victoria-bound stop. Twenty minutes later and LT2 arrived.
I immediately went upstairs and the first thing you notice is how light and airy the inside is.
Upstairs on a New Bus for London
Colours are best described as classy and more subtle than most other buses, but light is good with LED downlighters everywhere. The windows are wide and aligned with the seats, as this view shows.
Wide Windows on the New Bus for London
Lincolns Inn Fields can be seen through the windows. Note too, the generous leg-room, compared to some other buses.
As we progressed towards Victoria I took a lot of pictures from the right hand side, with my elbow resting on the window frame, just like the gent in the previous picture is doing.
Hugh Myddelton Looks On
I wonder what Sir Hugh would have thought of it all.
Whatever the bus may be it is a superb place to film central London. I don’t think that the tours will be pleased as routes like the 38, will offer a similar experience for the price of a normal bus fare. How long before someone starts offering a smart phone app, that provides a running commentary, based on GPS. Or could the app tap into a signal from the bus to keep everything in sync?
At on point, the bus was fairly clear and I was able to look at the seats.
Upstairs Seats on a New Bus for London
They are comfortable and shaped to give good lumbar support. As I have said the legroom is good and you don’t feel crushed in because of the large windows and the ability to rest your arm on the window sill. You could also put a small bag underneath a lot of the seats. Compare this seat with that on the standard Wright product, that is very common in London.
The Seat on a Standard Wright Bus
The New Bus for London certainly has a better seat, with better support and if you’re on the window side, you have somewhere to rest one arm.
After a time I was able to move up-front.
Up Front on a New Bus for London
The view is again good and there is the usual grab rail beloved of kids of all ages. Strangely, I suspect that you might get better pictures from the side of the bus, due to the wide and deep windows.
As we progressed through London, the most astounding thing, was that everybody was looking at the bus.
Eros From a New Bus for London
Quite a few of the crowds on Eros were photographing the bus. As I think was this lady.
Caught in the Act
But we were outside Fortnums, so she might have been photographing the shop. At Victoria the cameras were out again.
The New Bus for London at Victoria
It’s when you see it here, you realise that the bus is only marginally bigger than the standard buses. Although, on the roads, the curves make it look bigger.
Soon we were off again and i took this picture of a visiting Pole in the back seat of the top deck.
On the Back Seat of the New Bus for London
On the old Routemasters and the RT’s before them, this seat was always popular for a cuddle. I suspect that it will get used for the same purpose on this bus.
I should say, that as someone, who is a bit weak down the left hand side, I didn’t find the stairs too difficult. In fact because there are two staircases, you use the one most convenient to where you are sitting. So I suspect on a crowded bus, you’d probably get off quicker and a lot easier. They are certainly no more difficult to use than those on the standard London buses. The picture shows the front staircase.
The Front Staircase on the New Bus for London
I think they might be a bit wider too. This picture was taken from the window seat just behind the staircase, which I think could be one of the best seats to take pictures from the bus.
So how do people like the bus?
I did talk to a few people and they were generally enthusiastic. Many too, were taking pictures on their phones or like me, had cameras with them.
Finally, I got off the bus and walked the short distance home.
But this couple were in a hurry and hopped on the bus, whilst it was stuck at the traffic lights.
Hopping On a New Bus for London
So will the hop-on/hop-off facility work? It seems to be what Londoners want. It will help me, as often when I walk round the corner to get a 38 to Islington, one is stuck at the traffic lights, so it might save me a couple of minutes waiting for the next one.
To summarise, I think that the designers have generally got it right. The bus is light and airey, the windows give good visibility out, the staircases are easy, the open platform appears to be working and the driver I spoke to liked the bus, which is surely important.
Quite a few men, seemed to be interested in the technical details like the hybrid power system, which gives the bus very good fuel consumption. When did you last discuss how your bus or train worked with someone?
Only one lady thought there might not be enough spaces for buggies, but she did like the seats and the big windows!
Another passenger didn’t like the new smell, as I didn’t on the journey to Victoria, but that will go away in a couple of weeks.
I think my biggest conclusion about the bus is summed up in a quote by David Hockney.
Art has to move you and design does not, unless it’s a good design for a bus.
There would even be space on the top deck for a dachshund under the seat.
I Finally Catch A New Bus for London in the Balls Pond Road
I only managed to catch it with a camera, as I had my shopping with me and was just going home.
A New Bus for London on Route 38
At least though they are not a figment of London’s imagination.
My last memory of it as it crossed towards Islington, was of the conductor balanced at the bottom of the back stairs, just like he would have been on an old Routemaster.
I should say, as I was taking the picture, I was approached by a well-dressed black guy about half my age, who’d just got off the bus. He was truly enthusiastic about the bus.
So does good design appeal to everyone?
The Anonymous Widower 