Originally Posted by John146:
“Well the headline says 80 million, but wouldn't swear that's what Ford got”
“Well the headline says 80 million, but wouldn't swear that's what Ford got”
Really, the headline says ford got paid £80m
Lidl to create 5000 jobs despite Brexit
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Originally Posted by kidspud:
“Really, the headline says ford got paid £80m”
“Really, the headline says ford got paid £80m
”
Yup, and the text says:
George Osborne is under fire for backing an £80million loan to a truck *factory in Turkey – which went on to “steal” *hundreds of British jobs.
The Chancellor faces angry questions over the EU payout, which politicians believe played a key part in Ford’s decision to shut one of its *factories here.
Mr Osborne is a governor of the European Investment Bank, which last October approved the cut-price loan to Ford Otosan.
The cash was given to the firm that makes the latest Ford Transit vans at its Turkish *factory in Kocaeli.
Originally Posted by Mark_Jones9:
“Seagate have not publicly stated Brexit as the reason, they gave other reasons. I assume you are still relying on a friend said a friend was told by someone as your evidence brexit is to blame.
Rivington Biscuits and Hewden machine rental both cited brexit as a reason. However both were making substantial losses long before the referendum.
Mitie listed brexit amongst a very long list of other non brexit reasons why it had done surprisingly badly.
British Land has made a small percentage loss on the asset value of its property portfolio but underlying profits are up, since the referendum its been doing better than last year making more and better deals letting property with 98% of its portfolio let. And its increased its dividend.
Ford is continuing its investment in the UK despite what it said before the referendum it now has no plans to leave. The fall in value of the £ has hit Ford's profits and Ford plans to increase prices in the UK but expect that to impact UK sales. Ford however has had bigger problems this year a massive car recall in the USA.”
“Seagate have not publicly stated Brexit as the reason, they gave other reasons. I assume you are still relying on a friend said a friend was told by someone as your evidence brexit is to blame.
Rivington Biscuits and Hewden machine rental both cited brexit as a reason. However both were making substantial losses long before the referendum.
Mitie listed brexit amongst a very long list of other non brexit reasons why it had done surprisingly badly.
British Land has made a small percentage loss on the asset value of its property portfolio but underlying profits are up, since the referendum its been doing better than last year making more and better deals letting property with 98% of its portfolio let. And its increased its dividend.
Ford is continuing its investment in the UK despite what it said before the referendum it now has no plans to leave. The fall in value of the £ has hit Ford's profits and Ford plans to increase prices in the UK but expect that to impact UK sales. Ford however has had bigger problems this year a massive car recall in the USA.”
^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.
Originally Posted by TelevisionUser:
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
But on the bright side we might get a deals with countries that have public executions.
Originally Posted by TelevisionUser:
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
Absolute absurd nonsense. If this company was any good, it would have hedged its currency exposure. Currencies go up and down all the time. You hedge. It is basically blaming Brexit to hide the fact it wasn't a very well run company. You carry on blaming Brexit for everything. We're going. Accept it. And the economy is doing fine. Not spectacularly, but certainly not the disaster you lot predicted. Wrong when we didn't join the Euro and wrong again now.
Originally Posted by MTUK1:
“Absolute absurd nonsense. If this company was any good, it would have hedged its currency exposure. Currencies go up and down all the time. You hedge. It is basically blaming Brexit to hide the fact it's. It wasn't a very well run company. You carry on blaming Brexit for everything. We're going. Accept it. And the economy is doing fine. Not spectacularly, but certainly not the disaster you lot predicted. Wrong when we didn't join the Euro and wrong again now.”
“Absolute absurd nonsense. If this company was any good, it would have hedged its currency exposure. Currencies go up and down all the time. You hedge. It is basically blaming Brexit to hide the fact it's. It wasn't a very well run company. You carry on blaming Brexit for everything. We're going. Accept it. And the economy is doing fine. Not spectacularly, but certainly not the disaster you lot predicted. Wrong when we didn't join the Euro and wrong again now.”
^ Pure leave denial (again). You can in vain try to dissemble and spin as much as you like but the Brexit vote is already successfully destroying British jobs and your own vote played a part in helping to produce those redundancies in Wigan.
Originally Posted by TelevisionUser:
“^ Pure leave denial (again). You can in vain try to dissemble and spin as much as you like but the Brexit vote is already successfully destroying British jobs and your own vote played a part in helping to produce those redundancies in Wigan.”
“^ Pure leave denial (again). You can in vain try to dissemble and spin as much as you like but the Brexit vote is already successfully destroying British jobs and your own vote played a part in helping to produce those redundancies in Wigan.”
Noticed you've not addressed one point I made about currency exposure. Perhaps you don't understand how it works? Probably not. And no, my vote didn't have a part in anyone's redundancy.
Originally Posted by 1Mickey:
“But on the bright side we might get a deals with countries that have public executions.”
“But on the bright side we might get a deals with countries that have public executions.”
I heard that the Leave latest was the UK was going to conclude successful trade deals with Bhutan, Mongolia and Western Samoa and that all those deals would make up for all and any trade losses with the EU which is, of course, total bonkers.
Originally Posted by TelevisionUser:
“I heard that the Leave latest was the UK was going to conclude successful trade deals with Bhutan, Mongolia and Western Samoa and that all those deals would make up for all and any trade losses with the EU which is, of course, total bonkers.”
“I heard that the Leave latest was the UK was going to conclude successful trade deals with Bhutan, Mongolia and Western Samoa and that all those deals would make up for all and any trade losses with the EU which is, of course, total bonkers.”
Which trade losses are they? Have you jumped into the future? obviously it's completely lost on you that the U.K. Once it leaves will be the EU's biggest market for goods and services in the world. There is absolutely no way a trade deal won't be done. It's in their interest for us to keep buying their products.
Originally Posted by TelevisionUser:
“I heard that the Leave latest was the UK was going to conclude successful trade deals with Bhutan, Mongolia and Western Samoa and that all those deals would make up for all and any trade losses with the EU which is, of course, total bonkers.”
“I heard that the Leave latest was the UK was going to conclude successful trade deals with Bhutan, Mongolia and Western Samoa and that all those deals would make up for all and any trade losses with the EU which is, of course, total bonkers.”
I'll believe these allegedly amazing trade stories when they happen. At the moment its all speculation.
Originally Posted by MTUK1:
“Which trade losses are they? Have you jumped into the future? obviously it's completely lost on you that the U.K. Once it leaves will be the EU's biggest market for goods and services in the world. There is absolutely no way a trade deal won't be done. It's in their interest for us to keep buying their products.”
“Which trade losses are they? Have you jumped into the future? obviously it's completely lost on you that the U.K. Once it leaves will be the EU's biggest market for goods and services in the world. There is absolutely no way a trade deal won't be done. It's in their interest for us to keep buying their products.”
It is is you and your ilk - the zealous Leave supporters - who refuse to accept that the Brexit vote is doing ongoing damage to the British economy when it clearly is and even the Murdoch Times accepts the reality of the situation: http://www.thetimes.co.uk/edition/ne...ctim-rf96jb9d3
Originally Posted by TelevisionUser:
“It is is you and your ilk - the zealous Leave supporters - who refuse to accept that the Brexit vote is doing ongoing damage to the British economy when it clearly is and even the Murdoch Times accepts the reality of the situation: http://www.thetimes.co.uk/edition/ne...ctim-rf96jb9d3”
“It is is you and your ilk - the zealous Leave supporters - who refuse to accept that the Brexit vote is doing ongoing damage to the British economy when it clearly is and even the Murdoch Times accepts the reality of the situation: http://www.thetimes.co.uk/edition/ne...ctim-rf96jb9d3”
Paywall article. But nowhere does it say they accept that was the reason. And I still await your views on hedging. Do you have any?
Originally Posted by MTUK1:
“Which trade losses are they? Have you jumped into the future? obviously it's completely lost on you that the U.K. Once it leaves will be the EU's biggest market for goods and services in the world. There is absolutely no way a trade deal won't be done. It's in their interest for us to keep buying their products.”
“Which trade losses are they? Have you jumped into the future? obviously it's completely lost on you that the U.K. Once it leaves will be the EU's biggest market for goods and services in the world. There is absolutely no way a trade deal won't be done. It's in their interest for us to keep buying their products.”
MTUK, I thought you would realise by now that those who voted to remain are party to lot's more information than the leavers, I mean I didn't know we had made trade deals with Western Samoa, Mongolia and Bhutan, what are they buying off us, and more to the point what are we buying off them?
Originally Posted by John146:
“MTUK, I thought you would realise by now that those who voted to remain are party to lot's more information than the leavers, I mean I didn't know we had made trade deals with Western Samoa, Mongolia and Bhutan, what are they buying off us, and more to the point what are we buying off them?”
“MTUK, I thought you would realise by now that those who voted to remain are party to lot's more information than the leavers, I mean I didn't know we had made trade deals with Western Samoa, Mongolia and Bhutan, what are they buying off us, and more to the point what are we buying off them?”
I suspect it's the latest in a long line of bs.
Originally Posted by MTUK1:
“Paywall article. But nowhere does it say they accept that was the reason. And I still await your views on hedging. Do you have any?”
“Paywall article. But nowhere does it say they accept that was the reason. And I still await your views on hedging. Do you have any?”
Read and learn: Pink Panther wafers become first corporate victim of Brexit by Deirdre Hipwell, Retail Editor. Brexit claimed its first corporate victim yesterday as the maker of Pink Panther wafer biscuits plunged into administration after a sharp rise in costs following the fall in the pound.
Originally Posted by TelevisionUser:
“Read and learn: Pink Panther wafers become first corporate victim of Brexit by Deirdre Hipwell, Retail Editor. Brexit claimed its first corporate victim yesterday as the maker of Pink Panther wafer biscuits plunged into administration after a sharp rise in costs following the fall in the pound.
”
“Read and learn: Pink Panther wafers become first corporate victim of Brexit by Deirdre Hipwell, Retail Editor. Brexit claimed its first corporate victim yesterday as the maker of Pink Panther wafer biscuits plunged into administration after a sharp rise in costs following the fall in the pound.
”
No thanks I'm washing the cat. Now back to hedging. Do you know what it is? Your views on it are?
Originally Posted by MTUK1:
“No thanks I'm washing the cat. Now back to hedging. Do you know what it is? Your views on it are?”
“No thanks I'm washing the cat. Now back to hedging. Do you know what it is? Your views on it are?”
Originally Posted by TelevisionUser:
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
Rivington biscuits had been struggling for years they were bought by Van Delft in 2009 who attempted to turn the business around investing in the factory and then reducing its portfoil of biscuits, but to no avail. It made a small profit in 2010, very large loss in 2011, small but increasing profits 2012/13/14 then back to large losses in 2015 and 2016. Was the fall in GBP caused by the Brexit vote the nail in its coffin? Yes. Would it have survived if not for Brexit? Probably not as it was loss making before the referendum despite efforts and investment in trying to turn the business around.
Originally Posted by Mark_Jones9:
“Rivington biscuits had been struggling for years they were bought by Van Delft in 2009 who attempted to turn the business around investing in the factory and then reducing its portfoil of biscuits, but to no avail. It made a small profit in 2010, very large loss in 2011, small but increasing profits 2012/13/14 then back to large losses in 2015 and 2016. Was the fall in GBP caused by the Brexit vote the nail in its coffin? Yes. Would it have survived if not for Brexit? Probably not as it was loss making before the referendum despite efforts and investment in trying to turn the business around.”
“Rivington biscuits had been struggling for years they were bought by Van Delft in 2009 who attempted to turn the business around investing in the factory and then reducing its portfoil of biscuits, but to no avail. It made a small profit in 2010, very large loss in 2011, small but increasing profits 2012/13/14 then back to large losses in 2015 and 2016. Was the fall in GBP caused by the Brexit vote the nail in its coffin? Yes. Would it have survived if not for Brexit? Probably not as it was loss making before the referendum despite efforts and investment in trying to turn the business around.”
Shhhh. The truth isn't popular on here.
Originally Posted by Mark_Jones9:
“Rivington biscuits had been struggling for years they were bought by Van Delft in 2009 who attempted to turn the business around investing in the factory and then reducing its portfoil of biscuits, but to no avail. It made a small profit in 2010, very large loss in 2011, small but increasing profits 2012/13/14 then back to large losses in 2015 and 2016. Was the fall in GBP caused by the Brexit vote the nail in its coffin? Yes. Would it have survived if not for Brexit? Probably not as it was loss making before the referendum despite efforts and investment in trying to turn the business around.”
“Rivington biscuits had been struggling for years they were bought by Van Delft in 2009 who attempted to turn the business around investing in the factory and then reducing its portfoil of biscuits, but to no avail. It made a small profit in 2010, very large loss in 2011, small but increasing profits 2012/13/14 then back to large losses in 2015 and 2016. Was the fall in GBP caused by the Brexit vote the nail in its coffin? Yes. Would it have survived if not for Brexit? Probably not as it was loss making before the referendum despite efforts and investment in trying to turn the business around.”
It's net worth and turnover were both growing. It seems like a business that could have been turned around.
Originally Posted by TelevisionUser:
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
“^ That is a prime example of standard Leave dissembling, distortion and diversion because Leave voters cannot accept reality and cannot accept that the Brexit vote has already done noticeable damage to the British economy.
This is the true reality of the situation:
In a statement FRP Advisory said “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
99 of the current 123 staff employed by Rivington will be made redundant, with the remaining 24 staying on until a buyer for the company is found.
Russell Cash, partner at FRP Advisory, said: “A sustained deterioration in trading conditions and significant additional pricing costs since the summer following the sharp fall in the value of the pound, left the business facing unsustainable cash-flow pressure.”
In other words, the Brexit vote leading to the subsequent crash in the pound's value was the direct cause of them going under and resulting job losses.”
I think you shoud avoid the use of the word 'dissemble', what you describe as such, is nothing of the sort.
Rivington's, despite their bravado appearance have been, on and off, in the dodrums on more than one occasion. The effect of the exchange rate would only seriously be felt if they were importing any great amount of raw materials, yet there is nothing in reports to suggest that is the case. I have a suspicion that more may come out, eventually.
They have a competitor trading their pink biscuits through Lidl which will almost certainly have affected their trade....no mention of that.
They have a relationship with a Dutch company and Rivington's UK has two Dutch directors one of whom arrived in 2009, shortly followed by the departure of a number of existing directors.
And finally, if they can't turn it round for the reasons they quote, who is likely to want to buy it and would they re-employ those redundant people who may still not have found a job? Of course, neither of us know the answer but it's still the question.
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