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If the journalist and the editor who okd the publication of the article wished for a genuine and fair discussion , surely before speculating that the H and W company was about to fold they should HAVE ASKED HAnd W for their reaction . Unfair and biased nefarious article . One source only , no checking with the company at all . Dreadful journalism imo GLA
They did ask the company for comment hence why HARL was quoted in the original article saying it was “inaccurate speculation” (the last paragraph in the article).
Which begs the question, if HARL knew that this was going to drop (would have been given a few hours to comment at least, but probably overnight), why they weren’t they quicker off the mark with the RNS.
If you’re not ahead of the story, whatever is published becomes truth. The Mail have now published similar, all based on the original Times story. Not sure about sacking the board but time to sack the advisors.
They should be fired or sue the publisher.
The Times will have to cough up.
Is the mail owned by the times ?
No. But newspapers often copy a scoop from another publisher citing them as a primary source.
It would be good to know exactly when they became aware of this article. If it was before the market opened today, then I'm sorry, but that is another black mark on the BOD. Not that we may learn the truth of this.
But we will find out if the article was false and misleading at some point in the next few weeks.
My current theory: the article will be proved correct, insofar as the company not getting 100% funding.
Sign off will be granted for the typical 80% via the EDG scheme, leaving the company to raise the outstanding balance on that 20%. In that scenario, and in this credit environment, well, at the risk of being accused of de-ramping, I think it would be unpleasant for shareholders.
Fine for the BOD and the employees, unions will be satisfied enough, and the politicians will be able to both claim they did not bow to corporate pressures, protecting the tax payer, while still supporting UK industry and UK jobs etc. In that smug and irritating way of a politician.
If something like the above plays out, my opinion of that 'broad sheet' will be unchanged from my earlier comments. Appalling behaviour, IMO.
To be clear - that scenario is only my opinion, nothing more or less and not intended to influence anyone with their buys or sells etc.
LWHL, that isn't going to happen. So you are saying the company needs to raise 40m in cash in order to get a 200m loan? At that point the company only needs a 160m loan, and the guarantee is back to 100%. You don't raise your own cash as part of a loan, that's not how loans work.
I hope you aren't going to fill the board with negativity now that you have sold out on the drop.
Levsinvest, thanks just checking
No, I am not going to do that. But these chat boards get very boring, very quickly, if only bullish opinions are allowed.
Even when I was very bullish here myself, I always welcomed bear opinions and hearing a wide range of ideas.
Why would you not? Echo chambers lead to the poor house. Not that these platforms should influence buys or sells generally anyway of course.
Like I said before, if it turns out that that hit piece was...well a hit piece, based on lies, then it might result in some action against the paper.
Which I would potentially support, depending on the financial metrics. Not a cheap activity at the best of times and the media generally has a strong legal team, for obvious reasons.
My loss to some here would be fairly meaningful. To others, not much. For me, it has blown a hole in my trading profits, but in totality, without wishing to boast, it has not really touched the sides. It is the principle though.
I understand how loans work, thank you. The bottom line, as far as I can see, is that if they get the 100%, then the article will be proven to be false and misleading and IMO the company may have grounds to seek damages.
If the source turns out to be right, then maybe they get anywhere from nothing to 80%. We are all simply speculating at this stage until the finance deal is confirmed in full. A wait that at least cannot go on much longer than it already has.
LWHL, am sure JW and the board will be contacting them in someway
Hopefully in the form of a full length rebuttal in a rival newspaper, declaring that they plan to bring legal proceedings against them for a false and harmful article. Let me have that happy thought :)
Anyway, life is short. The weather is nice. See what the next few days or so brings.
Good evening all.
The press usually have a legal team that gives anything controversial or would put them at high risk of a claim a once over.... I'd say they're covered.
For those with an interest, I’d encourage you to get copies for the Telegraph and FT who have also now published similar stories to the Times (preferably before trading tomorrow). This is a doozie in the FT.
“The group is also engaged in pay negotiations with staff and “needs the money” to meet payroll, one person with knowledge of the business said.”
What a shabby piece of news. Someone’s lying and it appears it’s the times. Gov, JW and local MP all reporting business as usual and in negotiations. Ship yard closing WTF? Where they get they from?
Interesting quote LevsInvest. That's almost word for word what a certain poster on ADVFN was saying right before this all kicked off. Coincidence? I think not... All a well orchestrated attack in my view.
Https://www.ft.com/content/eb6aec9c-a8e1-43a0-b289-4e7413ea5ddc
Some serious debt JW has racked up eh, no wonder people are nervous as it's "Tax payers" money..... would you underwrite it?....
Does a chicken have lips?
Indeed well orchestrated load of rubbish
Https://www.ft.com/content/eb6aec9c-a8e1-43a0-b289-4e7413ea5ddc
Oh my looks like this could could down to the wire according to ft
Of course it is Bubble....... amazing how all the press are jumping on it eh..... they're all liars and full of rubbish.
Who else fits that description?...
I wonder if, upon your deathbed, you will look back at your life and say, 'yeah, those years I spent trolling harl, totally worth it'
Two to three weeks before financial news