# Show me the taxi driver



## mo3art (8 Jan 2006)

Getting a headstart and getting the thread up before the show starts at 8.30pm on RTE1 this evening.
Detailed analysis (please read opinions)  to follow..........


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## CCOVICH (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

I predict that they will have been foolish with their money and will be advised to spend less!!!!!


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## DrMoriarty (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

I predict that the groom will emerge from the process
(a) flushed with triumph at having heard 'on Hobbthority', and probably for the first time in ages, that yes, dammit, he had a point questioning whether they _really_ needed €1,000 worth of effin' flowers in the Church...  — but also
(b) somewhat discomfited at the revelation that his own 'discretionary' spending patterns are no more rational/less excessive than his blushing bride's.


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## mo3art (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

I predict that they will be advised to consolidate their debt!  LMFAO


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## Audrey (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

Programme just ended.  They weren't a bad couple, as such, not really over-spending, not really bad with money, but hey, could neither of them have figured out that his taxi-driving overheads were way too high?!  I mean, in the end, just by threatening to leave the company he was with, his overheads were immediately almost halved!!  Don't want to be too harsh on them, but sometimes I just can't understand how people don't figure these things out for themselves!!  Am I being hard?


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## mo3art (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

OK, so a brief synopsis for those who missed it:
Young couple with 1 child with very little disposable income and debtors at the door with demands.  Husband is a taxi driver with massive overheads, wife is a barmaid with low income as she works part time.  Stress is taking a serious toll on husband's health.
Eddie recommended that they (surprise, surprise) consolidate their debt by going to the local Credit Union, thus increasing their monthly disposable income by €400.  Husband renegotiates his business overheads, releasing more income.  Wife agrees a raise in her salary.
Net income makes a massive jump & they are much happier.
My comments:
Yet again nothing really about household management.  It was mentioned that they used some left over money from the consolidation loan to pay off an ESB bill so they wouldn't have another for 2 months.  It's a pity that EH focussed on the business end of things and not day-to-day money management.
I couldn't understand how long they went without actually knowing what his income was and the real effect of the overheads.  Mr Mo commented that perhaps the wife did know but didn't understand the nature of the business and that the overheads could be reduced.
Overall, not bad for a 30 min programme but I do feel that a full hour would be better served to look at the bigger picture.


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## contemporary (8 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

He worked a 60 hour week, however they wife said when he got a call from a creditor it would upset him and he might of out and work that weekend. Working in the taxi game the weekends are were its at, you can do 60 hours monday to thrusday and not make nearly as much as 30 hours at the weekend, he didnt seem to fond of work to me. He couldn't see himself working in an office or factory he loved driving so delivery driver perhaps? paying 650 a week for the "pleasure" of driving a taxi was madness. The old reliable credit union got a "hit" again...


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## sherib (9 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

I thought it was a great start and heart warming. It showed a nice decent couple that was nieve about business. I doubt if “Setting up a business” was on the curriculum of the schools either attended . Eddie Hobbs illustrated how a little expertise about basic business management could dramatically improve the income of a hard working couple, both of whom worked Friday nights when most are planning an outing Eddie said.

There were no outings, no holidays and no extravagance apart from a (not very) wide screen television on which interest of 43% was being charged EH told them. The wife earned €300 per week in a part time job which paid the rent (€8,750 p.a.) and child minding costs (€2,500 p.a.) leaving €15 *per week* to add to the husbands earnings to pay bills, food, clothes and general living. Consolidating a debt of €10,400 with the Credit Union reduced those repayments from €870 to €470 per month, a saving of almost €5,000 p.a. 

The main area that needed advice was how to change the husband’s taxi leasing costs from ~ €21,000 to a level where he was working for the family and not for those from whom he rented. These costs were “nuts” Eddie said. Encouraged by Eddie’s advice, the husband went elsewhere for a taxi leasing arrangement saving €8,000 p.a. And the wife plucked up the courage to ask for an increase and got an extra €55 per week or €2,500 p.a.

A great program showing how good advice could dramatically improved the finances of a family from a previous joint income of €28,000 to a projected one of €50,700 per annum. Great entertainment as well as practical advice. Three cheers for Eddie Hobbs!


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## ClubMan (9 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*



			
				sherib said:
			
		

> I thought it was a great start


This was actually the second episode of the new series.


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## sherib (9 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*

You're so right ClubMan - thanks for pointing out my error . Must be because the first was so forgettable compared to this one.

A Q - does anyone know if participants are paid for their contribution? I'd love to see that couple last evening getting the €6,500 for a taxi plate which they can't afford right now.


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## Brendan Burgess (9 Jan 2006)

*Re: Show me the taxi driver!*



> It's a pity that EH focussed on the business end of things and not day-to-day money management.



I thought the exact opposite. Many people's problems are caused by the crap way in which they manage their small business. I have suggested to Eddie a few times that he should increase the number of couples/individuals where the interaction between business and personal finance was stressed.

This couple's problems stemmed from the fact that, he was earning €14,000 a year for working a 60 hour week. Eddie sorted him out on this and so his problems are well on the way to being solved.

Brendan


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## Carpenter (9 Jan 2006)

*Re: Eddie Hobbs - Show Me The Money - The Just-Married Couple*



			
				sherib said:
			
		

> You're so right ClubMan - thanks for pointing out my error . Must be because the first was so forgettable compared to this one.
> 
> A Q - does anyone know if participants are paid for their contribution? I'd love to see that couple last evening getting the €6,500 for a taxi plate which they can't afford right now.


 
Why didn't they seek a larger loan from the credit union to enable them to purchase the plate?


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## Dipole (9 Jan 2006)

The renting out of taxi plates should be made illegal or they should be made so plentiful that no one would consider renting and buy instead.  I remember in Dublin at the height of the taxi shortage people who drove on other peoples taxi plates were called - the sharecroppers of the industry.


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## Sherman (9 Jan 2006)

And while you're at it we should ban the renting out of houses too! Damn landlords!


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## Dipole (9 Jan 2006)

Sherman, justify to me why a taxi plate should be considered an asset which generates revenue for someone who doesn't work it.
The local UDC are responsible for most of his financial problems - if he had been able to afford his own plate he wouldn't be in half the trouble he is in.


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## Sherman (9 Jan 2006)

Dipole, a taxi plate is treated like any other asset. Ownership of a taxi plate is not a right - if he can't afford it, yet wants to work as a taxi driver, there is no option open to him but to rent one.

No one is forcing him to work as a taxi driver while renting a plate - he could easily work in a factory, save his money, and buy one outright.

I agree that having this arbitrary €6,500 fee is a bit of a joke and obviously a tasty money spinner for the local authorities, but I fail to see what's so wrong with someone who owns a plate leasing it to someone else, as opposed to using it themselves. The local UDC are responsible for none of his problems - he is/was - he is now making the sensible adjustments necessary to prosper.

Your argument makes no sense to me - your logic could just as easily be applied to the farmer who doesn't 'work' his land but instead leases it to his neighbour. Should he be banned from owning land unless he's going to 'work' it himself? Of course not. I see no difference between this and someone leasing out a taxi plate to another. The owner is earning a return on his asset by providing a service to the person renting from him, enabling him to operate as a taxi driver where otherwise he would be prevented from doing so. So everyone wins, no?

If the rent is too high, the taxi driver would be a fool not to either renegotiate his rent (which he did, to great effect), or get out of the business. The market would then drive the rent on a licence down.


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## Bluebean (9 Jan 2006)

I agree with Carpenter - why on earth didn't Eddie encourage them to try and increase their loan (after they had both increased their income) and buy the taxi plate outright? 

I found this program much better than last weeks - much more realistic and the couple were quite likeable.  I thought it was lovely the way the Mam was trying to make sure that her 7 year old wasn't worrying about money.  Unlike last week's mother where she was hiding her purchases from her 12 year old - definite case of role reversal there, the son seemed to have more cop on than she did!

I hope there is more shows along the lines of last night's.


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## Theo Goon (9 Jan 2006)

yes it was heartwarming to see that the mother felt she could now afford to buy a few comics for the little girl.


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## Dipole (9 Jan 2006)

Sherman, OK let's probe a bit further.....

If you are from Dublin were you happy with the supply of Taxis in Dublin City until recently.
I'm trying to understand where you are coming from.

I think the program last night established that not everyone was winning.
We have a family which considers a comic for a child to be a luxury.
We have a man working in excess of 60 hours and sick with stress.

Comparing the worth of a tangible asset like a farm to a piece of paper is a bit suspect to me.  A farm has an intrinsic worth, a taxi plate doesn't and it's value is purely dependent on local government policy at the time.
Come to think of it... I'm going to find a councillor's name for Athlone UDC and do something about it.

I don't know how you can be happy justifying the renting of taxi plates by talking about the operation of market forces in a market which is anything but free when it is controlled by a UDC with a definte substantial barrier to entry.

For your information I've seen someone forced out of the taxi industry prior to de- regulation because they couldn't afford to rent their plate - I had no strong feelings for the person either way but I found it hard to see how society benefitted from his exiting the market; people wanting to socialise on a weekend certainly didn't benefit, people wanting to go to the airport didn't benefit, traffic jams didn't get any shorter.

I see your point of view, can you see mine?


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## Carpenter (9 Jan 2006)

Dipole said:
			
		

> The renting out of taxi plates should be made illegal or they should be made so plentiful that no one would consider renting and buy instead. I remember in Dublin at the height of the taxi shortage people who drove on other peoples taxi plates were called - the sharecroppers of the industry.


 
If I remember rightly the guy applied for and sold his own plate- basically sold his means of making a living- presumably as a short sighted way out of some of his debt problems at the time.  So neither the local authority or taxi company were to blame for his woes.  Personal responsibility is called for here- lets not blame a licensing system that's functioning properly for everyone else.


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## Dipole (9 Jan 2006)

Mailed a councillor in Athlone.  Might find out more from that.

In my opinion the only thing that should qualify a person to work as a taxi driver and ply their trade is that they are of good character and fit to see members of my family safely from door to door.

I too formed the impression that he wasn't the brightest but he appeared to have a good wife who should save him from his worst mistakes.


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