RE: Humbled24 Nov 2021 10:06
realturbo,
What makes you think that the H&W shipyards will ever be profitable, given that few, if any, other West European yards turn a profit, at least without massive State funding (illegal or otherwise)? I have stated from the day of acquisition of Belfast that the only hope for the company is public money and lots of it. Whilst I consider most politicians and public servants to be pretty dumb, they are not total fools and are hardly likely to dole out cash, only to see it funnelled into the directors' bank accounts. I have mentioned DeLorean, somewhat in jest, but NI politicians will be particularly circumspect due to that fiasco. I have asked repeatedly of the rampers to explain the secret sauce that JW brings, without reply.
I maintained my holding (and continue to do so) in the genuine belief that the granting of the marine licence would be transformative (I also believe that any legal challenge to IM will fail); in the event, it was a damp squib, reflective of the massive risk imposed by the yards. I now see no way out.
I have always maintained that Infrastrata should have remained focussed solely on IM; the project should have been wrapped in cotton wool until such time as the licence was granted. After all, this is why I, and all genuine long-term holders, invested in the first place. But where would have been the bonuses in that? Directors with a genuine plan for the future would be rewarding themselves with share options, no investor would object to that.
I wrote in April that I expected JW to be gone within a year; nothing to date suggests that he won't trouser as much cash as he can, then be gone by Easter. I know that he reads these boards and can only hope that recent sentiment shames him into doing the right thing, but his history as a phoenix makes this extremely unlikely.
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