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hi everyone, sorry to have this happen to you all. i have 2 questions, if i may? do you know when the board got there bonuses last and also, bearing in mind that thomas cook didnt get the funding required, is that because the banks/finance companies they were dealing with involved in tui?
im just intrigued. im sorry for the intrusion on your board at a time like this, but these 2 questions as an outsider looking in make me very curious.
appreciate your comments, and once again.... very sorry for those of you that lost out.
"Some investors are O.A.Ps. Many are computer illiterate.Many LTHs are old and disabled."
so......maybe buying a fund and having a fund manager would have suited them better
you dont get immunity to risk just because you are old ...
The idea is..you move to lower risk investments ...like Government bonds etc
"investors should be told to stay away."
well if they could read an annual report and the updates then maybe they would.......how many times should you warn someone a Tsunami is on its way ??
Many LTHs are old and disabled. They bought TCG when they were young and enjoyed
travelling. Traders know what is going on and trade the market up and down making
profits. Last Friday the writing was on the wall and many shorters closed their position
and others sold. Traders are in control and investors should be told to stay away.
LTHs are the losers. Hedge fund Managers collected 200 Mill doing what?
to be fair the Directors have been playing with the result of the last capital re-organisation which put them in the debt situation ...they have been struggling to have money to invest ever since .... a wonder they kept it going this far
Without the last capital re-organisation they would have been bust long ago...
Mapp, you're looking at the wrong villains here. TCG went bust because it owed over 3 billion quid, and wasn't making enough profit to service the debt (let alone ever repay it). Blame for this lies completely with the directors who got the company into this mess. Not with shorters, banks, hedge funds, the govt., auditors or Santa Claus. The directors. Period.
It was reported that Hedge Funds made a profit of £200 Mill or more.
Over night . They made what investors lost. Looting is acceptable in Finance.
In the real world one goes to prison.
Some investors are O.A.Ps. Many are computer illiterate. Those are the ones
who got another kick in the teeth and should not be allowed to buy shares.
Many are bribed with special offers. Discounted holidays? I was not a LTH but
I am concerned about investment and keep an eye on different boards. Who bought
and sold last Friday? I suspect traders only and not investors who might have been
Thanks Lazarus1. BBC presented the article as a win for employees and I guess it is in these circumstances.
"Short Sellers must feel guilty. They can afford to help those in need. It is not only weak management. Short Sellers are greedy, irresponsibl and ruthless. Wealth destruction thugs."
What utter nonsense ...in this case they raised the alarm and no doubt saved many a poor soul from buying shares at a vastly over inflated price
They also helped holders sell at a reasonable price before things gradually got worse and worse
Of course there were those who didnt listen to the canary in the coalmine
.... and they no doubt caused their own wealth destruction
the buck stops with BOD, short sellers were not in any way responsible for the huge amount of debt or collapse
Short Sellers must feel guilty. They can afford to help those in need.
It is not only weak management. Short Sellers are greedy, irresponsible
and ruthless. Wealth destruction thugs. The system is rotten from TOP to Bottom.
Agree Pokerchips all involved are best off out of this basket case and useless BOD, look forwards to see what action UK Gov take, questions due in Parliament today (am sure clueless MP's will be asking why more money wasn't added to the bonfire PF was building)
So ANEX Tour DID make an offer for the whole company. Ironically Fosun blocked it. Unbelievable.
"So much for UK government blaming EU rules stopping them from helping support TCG. Gutted for TCG's UK Staff."
The papers, filed by former chief executive, Peter Fankhauser, also show that its balance sheet had a deficit of £3.1bn, including guarantees to the Civil Aviation Authority
Helping support TCG ? ... and you talked earlier about being naive
TCG was a Zombie Company and throwing taxpayer money at it would have been wrong
I am pretty sure that RyanAir will start offering some of those flights and have a means to book the same holidays through them ..they will take up some of the lost business ...as will others ....some staff will work elsewhere in the sector and have a far more secure future than with a company with a £3 billion deficit
If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:
If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools:
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss[es];
If you can force your heart and nerve and sinew
To serve your [or our] turn long after they are gone,
And so hold on [to it] when there is nothing in you
Except the Will which says to them: 'Hold on!'
If you can talk with crowds and keep your virtue,
' Or walk with Kings - nor lose the common touch,
if neither foes nor loving friends can hurt you,
If all men count [on you,] with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son!
Longish, ‘its unlikely that they will get it later unfortunately, it looks like they are going to have to take a 10% haircut on their benefits. This will be down to an assessment of having to pay the final salary benefits for such a large group of people for quite a while. Whilst that will be disappointing for the beneficiaries, if you compare it to some other companies that went into administration where they had raided the pension fund over the years and beneficiaries were left with almost nothing, it could have been a lot worse.
According to BBC, the pension scheme is in surplus but those coming up to retirement will only be guarenteed 90%. Have they lost 10% or get it later when the dust settles?
also there is still the intangibles which of course are now worth zilch , thats another £3billion i think even after the write down
outrage , hopefully the useless audit prfoession will get another bashing
Your an ******** m8 that post just about sums you up!
Id hate to be one of your employees if you ran a company.
they have just lost their jobs.
Do you not have any compasion?
for sure the greatest robbery in UK history ….
Balance Sheet Defecit as reported in Times this AM. That’s a staggering number.
makes sense though as the current debt number is before they pay all their suppliers who clearly they haven't yet as the hotels are chucking customers out or making them pay again, am convinced that the money they were begging UK Gov for was just to pay wages and any payments due this money, hence this would continue every week going forward
seac what does that mean ? are they online?
the guy does not understand money