@ArielArrow
“I borrowed it from some guy on Prem many years ago Big Bangs”
Very honest of you - impressive. Thank you and thanks for the quote.
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I accept that Brexit made matters worse but feel that the extent of the debt meant that the situation was terminal.
Thanks for everyone’s contributions by the way. I appreciate it. I learn from you. Illbetabuck, hawking, Quisty (among others) - great posts. Thanks.
Quisty - I agree. You can see why TCG went under - PF still thinks they did nothing wrong. It’s incredible.
... and on 2/7/19 20/7/19 in reply to a thread titled “Chinese Proverb”, I wrote:
“Man who invest in company which pays four times as much in interest than it receives from operations learn hard way”.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=TCG&share=Thomas-Cook&page=91&thread=6D72C850-9FA5-41CE-A275-7BCE0E677C1B
I agree. The debt was the killer.
I said this back on 2/7/19 in a thread I started. No one replied to it.
Heading: Debt - Yahoo Finance article
02 Jul 2019 19:15
It’s the debt that worries me.
https://uk.finance.yahoo.com/news/why-d-shun-thomas-cook-112407308.html?.tsrc=applewf
“Over the 12 months to 31 March, Thomas Cook paid £122m in interest costs but only generated £30m of cash from operations”.
That’s terrible. Absolutely awful. Close to fatal. You’ve got to sell assets then.
“...The firm’s latest balance sheet shows total liabilities of £6,371m and total assets of just £5,026m...”
https://www.lse.co.uk/ShareChat.asp?ShareTicker=TCG&share=Thomas-Cook&page=117&thread=45BBC3CD-4803-4F16-A87B-2D55535205BA
@giro121: I don’t know if this is what you want. Click on MTRO on this page to open up details: https://shorttracker.co.uk/
... and Metro is down almost 30% today at the time of writing. JT Macs working his magic again.
JT Macs should set up a stock advice service - whatever he buys, short it.
“A lot of investors lost money but the clever ones got out at the right time day trading this for weeks”.
I find that hard to believe. Most day traders lose money, especially ones who were “day trading this for weeks”. And I don’t recall anyone posting on here when they sold & bought, doing so every day, consistently getting it right. But there’s plenty of people who’ll tell you after the event that they called it right. They’re very good at predicting the past.
... yet so many couldn’t see the wood for the trees such as “JT Macs”. Good God was he ****sure. He strutted around, calling people who disagreed with him “muppets” and (as such people often do) boasting e.g. claiming he was out to test drive his drophead. I felt he was a Walter Mitty, desperate to persuade us he wasn’t someone he wasn’t. Personally I suspected his name hinted at someone who flipped Big Macs for a living.
You always get a few of them. He’s moved to another crashed share - Metro. Poor people.
No because you got what you paid for. Unlike people who’ve booked holidays and not yet been on them.
Times:
Thomas Cook collapses after rescue negotiations fail
https://www.thetimes.co.uk/edition/news/thomas-cook-tourists-face-two-week-wait-wlprzfrm8
Published at 0158:
Heading: Thomas Cook planes parked away from terminal
Another Mirror reader called Kirsten just shared this with us...
“I’ve just landed back in the last hour from Skiathos to Manchester airport.
“Very sad having the plane park in line away from the terminals next to many more Thomas Cook aircraft.
“Crew very emotional as we landed unsure on what they are landing back to.
“All passengers whispering about it being there last ever flight with Thomas cook and what is going on. Just everybody feeling the sadness that is happening.”
https://www.mirror.co.uk/news/uk-news/thomas-cook-live-updates-british-20147529#344037
Thanks for that, @seac.
More here: https://www.mirror.co.uk/news/uk-news/thomas-cook-live-updates-british-20147529#344041
I see no glorying in peoples misery. In fact, illbetabuck may have saved investors a lot of money.
Re “No doubt you will rest in a very hot place on Judgment Day” - it’s 2019 not 1019.
I’ve since seen that Quisty has already posted a link to the same article in the thread “All over now”. Apologies for the duplication.
Quisty, sorry. I posted a link to this article before reading this thread containing your comment about the same article.
The article also features an ominous video of Peter Fankhauser leaving the law firm via the loading bay and not answering journalists’ questions.
https://www.theguardian.com/business/2019/sep/22/thomas-cook-in-last-ditch-talks-to-avoid-collapse?CMP=Share_iOSApp_Other
“I feel there will be a reprieve at the very last minute tho to save the company imo”.
I was hoping the same but apparently the £200m to save TCG v £600m to repatriate customers isn’t what it seems - the £600m includes the cost of reimbursing people who’ve paid for their holidays but not taken them yet which is covered by ATOL.
This article isn’t so optimistic that the government will step in with the £200m:
Why Thomas Cook might struggle to book a bailout https://www.bbc.co.uk/news/business-49781920
TC can raise the £200 million easily. Just ask the rampers to loan them all the money they say they’ve made.
Interesting article: https://www.theguardian.com/business/2019/sep/21/thomas-cook-holiday-nightmare-big-debts-bad-luck-brink