Credit ratings Fitch has affirmed Ingram Micro's credit rating at BBB- stable putting it just a notch or two behind that of Ireland. Which raises the question of whether you'd choose to invest in an entity that will be existing on thin air and emigration for the foreseeable future, or a computer distributor with a presence in …
Grim, grim, grim.
Does Ingram Micro have a gigantic exposure to derivatives risk http://trueeconomics.blogspot.com/2010/12/economics-211210-derivatives-hole.html ? If not then that's probably another mark against Ireland. On the other hand you could argue that Ingram doesn't have direct access to the IMF, but then Ireland doesn't have that anymore either. :(
>Still, if you had to go somewhere for a stag weekend, or even a holiday, Ireland is possibly a better prospect than an Ingram Micro warehouse
You do realise the demographics of the Channel Reg readership? I'm pretty sure the warehouse would get plenty of takers, particularly if they threw in a trolley-dash competition.
(and if the warehouse was in Ireland?...)
"... Ireland is possibly a better prospect than an Ingram Micro warehouse."
I can agree with that.
I doubt there'd be much Guinness to be had in a parts distribution center...
Pity, though, because mixing alcohol and computer kit can often be quite entertaining.
Ingram & Ireland
It all depends on how well Ingram's management has performed:
1. Has it taken tens of billions of euros/dollars and emptied it into a big hole, never to be seen again?
2. Has it through either malice | incompetence | blind obeisance to Brussels + Frankfurt snatched defeat from the jaws of victory?
3. Are the good users and staff of Ingram being rewarded as well as the Irish? The Irish government and people lived by the principles of fiscal prudence and saving for the rainy day (much like the Japanese, the Germans and the Swiss) and now have a good infrastructure in place to handle metaphorical and real bad weather.
Of course, seeing how well the various Credit Agencies predicted the financial troubles in the last few years, I find them about as creditable as FIFA.
Quite: "3. Are the good users and staff of Ingram being rewarded as well as the Irish? The Irish government and people lived by the principles of fiscal prudence and saving for the rainy day (much like the Japanese, the Germans and the Swiss) and now have a good infrastructure in place to handle metaphorical and real bad weather."
Did I miss something? The only way the members of the Irish government have been "fiscally prudent" is with regard to themselves. I.e. making sure that they personally have become pretty much the best paid politicians in the western world, with superb pension entitlements, and making sure they get their retirement in en-masse *before* the upcoming general election whereby should they by some miracle get re-elected, they'd see those pension entitlements slashed come 2012.
Paris because she couldn't make more of an arse of running the country than this shower
Aren't Fitch one of the credit rating companies that rated various worthless stocks and vehicles as AAA for reasons which were basically fraud? Why should anyone care what they say about anything?
ingram v ireland
AAha, but don't let Intra near a bankeryt