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It's not the Govt or taxpayers responsibility to bail out a company that's done nothing but generate loss making figures regardless what investments they've decided to make. Those are at their own risk, nobody else's......
Just looked up the definition of Bitter. Apparently its someone who post negative comments on a BB about a company they don't own shares in, while they are on holiday. Could be a man or a woman. I think that sums it up perfectly.
Fair comment to a point ,Consuela, but memories will fade if all of the claptrap arising this week and continuing in the Press can be negated. I really do not see how Sunak & Co can let H&W fail at this stage with significant investment in plant machinery and new build already placed into Belfast and ( may I say from the horses mouth of employees there as relayed to me personally ) with that yard at least buzzing with an overload of work ——maybe we can hear of a couple of further contracts very soon and perhaps some action from other members of the BOD who seem to have remained silent throughout —rough sees ahead and no firm sighting of land sadly !!
That is the funniest thing I've read all day.
Clearly JW was the lead in the 1.62 billion contract. Who approached who. Navantia wouldn't even have heard of HARL at the time. JW put the consortium together. You need talent for that. He will see us to £500 million turnover and a Main Listing.
Dawski, seriously?.... his sole reason for "Buying" H&W was to reduce fabrication costs on IM which was beyond laughable. He ran out of gas creating raises from IM so moved to another vehicle to raise cash...the amount of lies that have come out of there since then have been epic, remember Vitol!.. 🥴😂. Triumph, FRSU, RNLI.... car crash.
Wake up.
Stokey that’s correct
Don’t you mean “the John Wood “ for the trees ? ….JW ( and AR to a certain extent + all the valued employees ) have done us proud up to the 4th year of the 5 year plan…so far at least anyway .As many have said where would we be with the one trick pony that was and remains I.M. —that “bloody hole in the ground” that is yet to come to fruition.
Over the weekend I really would like to assess here the worth of the shenanigans appearing today about the “Big Deal ‘ being affected by our Scilly Venture -can’t quite get my head around that one ? Hopefully the lawyers will be working overtime at Field Fisher !!
Possibly Forest. I would imagine that the CEO of the East India Company got a Gong. Britain was once forged by entrepreneurial adventurers, not Supply Clerks. Mind you , they are important as well. With all those curries, bathroom supplies are essential.
Bubble2021 ref 14.27 post I hope he is careful what he says or risk a defamation lawsuit.
He didn't win that contract and yes, he is greedy.
Hi TDF. Wasn't such greed the source of "real" Knighthoods back in the day?
But you're not bitter right....
Https://www.euractiv.com/section/energy-environment/news/brussels-clears-green-french-state-aid-worth-over-e8-billion-in-just-one-month/
8 Billion Euros French State aid in a single month. Hold on, is not 8 Billion Euros worth more than £200m.
What a load of Pony.
Do you think that without the desire to grow and succeed , thousands of jobs would have been created in Belfast. Or the company would have the opportunity to reach a £500m turnover. Yes, dont try, stay a Supply clerk all your life.
This is classic oversell imo. It’s because so many can’t see the wood for the trees. These scenarios are where the 10-20 baggers come from.
All imho, of course.not a recommendation. Dyor
Lurkers? How very dare you. ;)
Could I be classed as local? Could be in Cornwall in less than five minutes?
The argument falls flat immediately, due to the fact the the loan is not state aid. Clearly the individuals here do not know the difference between private money ie banks and state ie Government. It becomes even more ridiculous when you consider Level up Funding. What on Earth is that if not state aid. Do you think that any company that benefits from LUP has a case to answer to Brussels. As i said a load of Pony.
Mr. Gonzalez. Why are HARL in so much debt? Might it be that it was part of the deal in preparing for the FSS ships?
Basically the company was awarded a subcontract on the condition that it increased its debt by circa £70 Million.
Might this make your comment, and the comments of various "trusted" journalists, mute points, does it not?
Speedy_Gonzalez ref 15.59 post I am not sure that the article is accurate in relation to the question of subsidy control. Earlier this week I posted a link to a video with regards to the Subsidy Control Act. I would observe that as the article states that the finance is coming from private firms. Also UKEF are not providing the loan they are only providing a guarantee. This results in a question as to whether the guarantee would amount to a subsidy as the finance is not coming from a public authority. I accept that if HARL was to default on the loan then the guarantee may be called in. However I would argue that means that the loan is not a subsidy. I think that IOSSC are just causing trouble for the sake of causing trouble out of spite and because of the setting up the ferry service.
Be interesting to hear that group's thoughts when they hear about what IOSSC have been up to whilst we have set up the ferry and freight services for them. I'm not posting this Telegraph article though, I'm not getting involved in that group but I do read it.
Think they only care about getting a new ferry. If this issue puts a spanner in that plan they may have been interested to know about it. Other than that, I don't think that they are interested in the companies bigger problems out side of providing one or maybe maintaining the freight service. imho
X - let me ease your growing paranoia, perhaps it was because they are: local, a member of the group, regularly contribute to the group….. unlike the ‘lurkers’ on here ha ha
Someone should send the plot of this finance application to Hollywood, I think they might be interested.
This now explains why Kevan Jones was asking a question about the ferry service. They have likely been in contact and of course IOSSC have reasons to fight HARL.
Makes you also wonder why someone felt the need to post the original Times article on the Isles of Scilly Sea Links Facebook group as soon as they could. 🤔
Https://amp.theguardian.com/business/article/2024/may/16/union-warns-of-threat-to-harland-wolff-jobs-if-treasury-vetoes-200m-support
Hmmm........So a broke govt desperate to salvage their reputation and go for re-election, is reconsidering a 200m loan guarantee to a company that's 100m+ in debt, has a market cap of 17m and never turned a profit.
What could Mr Hunt be thinking?