TG approach3 Feb 2021 06:36
With 3 "green" posts on the trot, I have to admit I logged out, enabling me to view Donk's missives. Curiosity got the better of me, and I must say the new Donk seems much improved with the pubs closed due to Covid. Every cloud, they say.
In response, see TG's softly, softly, catch a donkey approach as very sensible and Sekaname's approach as 5h1t or bust , getting all their financing agreed up front which means they had to have a secure PPA from Botswana or elsewhere to show their potential earnings.
Comparing the two, TG's frugal approach has meant TLOU is surviving a pandemic having lost only time and patience and no doubt a manageable amount of money. The directors have willingly suffered in that dept too.
If Sekaname have agreed their finance deal, and have lost the same amount of time, their debt repayment looms closer BUT their ability to earn has moved on by that period .... I'd be worried if I was in their position!
No doubt there are thousands of mortgages out there which need to be paid by folks who have little or no income, they'll understand where I'm coming from!
TG is following in Michael Marks footsteps. Marks had no choice but TG does and I think it is a good one. Marks market stall is our "up to 2Mw" , it presumably earned him enough creditability to get bank loans and/or a partnership or both at affordable interest rates .... exactly what TG is doing.
Sekaname's approach is more akin to mortagees repossessing family homes if they are obliged to default on their mortgage. Imho a likely outcome.
I know which one I'd prefer!
"Marks & Spencer started life more than 130 years ago when the Jewish immigrant Michael Marks came to the north of England from his hometown of Slonim, Belarus. He arrived with little money and spoke poor English. Beginning as a pedlar, he soon owned a market stall in Kirkgate Market in Leeds."
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