I swore I'd stop with Game of Thrones references after this bit about Albert Edwards expounding his Ice Age Thesis:
Société Générale's Albert Edwards: Winter Is Coming
Yes, Albert has been forecasting the arrival of the economic ice age since at least 1996 (our links go back to 2010 and probably earlier), but the House Fed has thwarted his House Stark at every turn.
Now he's getting ready to roll but it may be too late for him.
"I fought. I lost. Now I rest. But you, Lord Snow… you'll be fighting their battles forever."
Albert addressing another standing room only investment conference crowd
Okay, that's enough Game of Thrones references for now.But I can't help it. Plus, I see I left myself some "for now" wiggle room.
From City AM:
After TfL's licence decision, Uber must brace itself for a winter of discontent
TfL’s decision not to renew Uber’s private hire licence may have caught some off guard, but delve deeper into the firm’s ongoing series of operational controversies, and the shock subsides – rapidly.
The tech giant’s outing from the capital was justified by TfL due to its perceived “lack of corporate responsibility” in relation to safety, including concerns over its approach to reporting serious criminal offences and method of obtaining enhanced criminal offences checks.
Looking back over Uber’s past challenges, and subsequent reactions to criticism, it becomes apparent that this time, the firm may find need to find a renewed line of defence. In fact, it is likely that Uber’s perceived laissez-faire attitude towards customer wellbeing could be symptomatic of how the business perceives itself.
Back in October 2016, a group of Uber employees fought, and won, an Employment Tribunal where they demanded to be recognised as workers, rather than self-employed drivers. During proceedings, Uber rejected claims that it should ensure drivers receive holiday pay, sick pay, and the minimum wage, stating that it was a 'technology platform' that facilitates people getting taxis, distancing itself from having overarching responsibility for service users and employees.
However, another area of contention for the firm is its use of software. TfL states that Uber failed to explain how it used 'greyball', a system it has deployed elsewhere to actively stop law enforcement from investigating the company and its drivers - denying them rides. This lack of transparency in the use of data is not akin to the operations of a specialist technology platform.
Today’s woes aside, the eagerly awaited Employment Tribunal appeal hearing is due to take place at the end of the month, and it is my expectation that October 2016’s decision will be upheld. If so, Uber must completely redevelop its employment model or face legal action and disruption to its services UK-wide....MORE
