I'm not one to post messages like this but I have just been speaking to a mate of mine who works in security. He's starting a job on the stadium site as night time security in 2 weeks up at Glasshoughton. He's got a 2 year contract to look after the site.

Which means thats to look after what's being developed up there and built?

Yes, he's just said the contract has been agreed this week and he will get his start date next week. I've got no reason to disbelieve what he has told me.

You have to admit the scheme will need nighttime security – otherwise we'll get it 98% built, then some fly-by-night will nick it and move it two miles down the road

Speaking from my experience as a member of the main project board for a£70m or so central London office development – apart from housing this is a good time to build: steel prices are at an all time low, contractor costs similarly, etc

And employment is cheap due to the fact so many people looking for anything they can get as a source of income.

Hell, I'd go up there this weekend and start building for a few quid.

Quite right!! But unless the construction company/partners are cash rich then it is a very difficult to get the money at competitive interest rates from the banks....and that is the main issue within this current economic climate!

The man in the know

Sorry mate,but it has nothing to do with the interest rates.
Money is as cheap as it has ever been and the banks are currently lending at small margins over LIBOR(one month currently at 0.88%).

The problem lies in actually providing sufficient covenant for the lend to happen.
The banking industry got itself in a mess by irresponsible lending.
Unfortunately it has now gone to the other extreme and every deal they do is "buckle and braces"

Earlier in the year they asked for volunteers for a Stadium Steering Group. Has anyone been selected for this or had any feedback to their application?.