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Top story
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Auto package not enough, say experts
The automotive industry has responded with scepticism to the announcement by business secretary Lord Peter Mandelson that £2.3bn in loan guarantees would be made available to the ailing car industry, including £1.3bn in loans from the European Investment Bank. “This rescue package won’t succeed unless it is selective and comes with conditions that address the inherent problems of the larger car manufacturers,” said Liverpool entrepreneur Michael Welch, founder of tyre retailer Blackcircles.com. “The government’s responsibility is to ensure that any business it helps with taxpayer’s money is well run. Any loan guarantee scheme needs to come with strict conditions to ensure the inefficiencies of these companies are addressed.” Meanwhile, John Shinnick, head of motor retail and assurance at accountancy firm Grant Thornton in the North West, said that the package “won’t put us on the road to recovery”. He added: “It’s too focused on one industry. It is the banks’ willingness and ability to lend to business at sensible rates that will lead us out of recession.”
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Business
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Green printing at Redwood
Liverpool printing company Redwood has been awarded accredited status by the Forest Stewardship Council and the Programme for the Endorsement of Forest Certification for its efforts to source paper from renewable sources. The endorsements guarantee paper used by Redwood has been acquired from sustainable forestry, where any trees felled are renewed by seedlings and the forest is managed to ensure minimal impact on the natural environment and wildlife. 
New FD for Medicash
Medicash, the healthcare cash plan provider based in Liverpool, has appointed a new finance director. Michael Lawrie-Simmons joins from National Museums Liverpool, where he worked as finance director and was part of the executive board. He will head the finance and IT departments.
Addicted to email
Liverpool computer support company The PC Support Group has found that 63 per cent of people keep their BlackBerrys on when on holiday, while a 90 per cent admit not switching off hand-held email devices at evenings or weekends. The research found users can quickly become hooked on the devices, with 63 per cent saying they could not live without their BlackBerry and 47 per cent admitting to spending more than eight hours a week checking emails or surfing the internet. Many people don’t even realise that you can temporarily turn off the email function while keeping the phone on.
Anyone for tennis?
Now in its eight year, the Tradition-ICAP Liverpool International Tennis tournament has been able to move its slot a week back to fall after The AEGON Championships - formerly The Artois Championships - in a bid to attract some of the games ace names. From 17 to 21 June, Liverpool’s Calderstones Park will host the largest exhibition event in Europe. Tickets go on sale today.
Admins up but region stays off bottom rung
The number of North West administrations increased by 31 per cent in 2008, according to figures released today by Deloitte. The firm’s annual analysis is “very much in line with expectations” and it expects the figures to increase “drastically” in the coming months, but the region fared better than other areas of the UK, where the numbers were much higher. Businesses in the North East witnessed a 98 per cent increase in administrations compared to 2007; the South West experienced a 95 per cent increase in administrations, while Wales saw a 41 per cent increase.
Work starts on performing arts centre
Work has started on a new creative and performing arts centre at Liverpool Hope University. The £6.5m Centre for Music, Performance and Innovation will be located at the university’s Cornerstone Campus and will include music practice rooms, a 300 seat performance hall, an exhibition gallery and facilities for business incubation. The Northwest Regional Development Agency has awarded £3m of funding to the project, which is expected to be completed by November.
VPhase wins Ofgem approval
VPhase, a developer of energy saving-products for residential and commercial properties based in Chester, has received approval from industry regulator Ofgem to trial its VPhase VX1 product in a number of Scottish and Southern Energy customer homes. The trial is expected to cost £200,000, mainly funded by Scottish and Southern Energy, and will measure the reduction in electricity used as a result of product. It forms part of the government’s Carbon Emissions Reduction Target scheme, introduced last April to ensure energy suppliers cut carbon dioxide emissions by 2011.
Order your Top 500 CD-ROM today
Insider’s new North West Top 500 Companies 2009 CD-ROM will be available from February 2009. Reach new sales leads and promote your business to the most successful and profitable companies in the North West with this reliable and comprehensive business mailing list. As a valued reader of Insider Daily you will also receive a 20 per cent discount if you pre-order online inserting promotional code NW-T500CD-1. The offer is only available until 31 January 2009.
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Property
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Redundancy for Newman
Alastair Newman, partner in the Liverpool office of property consultancy King Sturge, has been made redundant as the firm looks to streamline its operations. Seeing that the property industry was not about to make a quick recovery, King Sturge announced at the end of last year that it was cutting 60 to 80 jobs in London through a redundancy consultation and the departure of Newman, who covered office, industrial and logistics, follows on from this decision.
Millennium over as market tumbles
Cheshire-based property developer Millennium Estates has been placed into administration. Restructuring firm Zolfo Cooper, which was formed in November 2008 following a management buyout from Kroll, has been appointed due to poor trading conditions in the UK property market and seven staff and the firm have been made redundant. The administrators are seeking to secure buyers and lessees for the company’s current developments, which include 58 units in the Millennium Tower at Salford Quays, and 147 units in the Alexandra Tower, a 26-storey residential tower situated on the banks of the Mersey in Liverpool. Millennium Estates made a loss of £1m in the year to 31 March 2007 against a turnover of £6.2m, which was down 61 per cent on 2006.
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