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This should be on watch dog it’s unbelievable.
Do your home work on Bristol,
You will see agency driver jobs guarantee 50 hrs a week minimum £1000:00 plus overtime if you want it, also accommodation paid for.
Now first bus will pay £24 k plus overtime to its own staff,
There are not many left maybe 20% the rest agency.
Agency worker £52k plus overtime.
Yes there is a driver shortage due to staff leaving to work for agency’s.
But it’s all due to end soon and first bus and other operators won’t get any more funding and will go crying again to the tax payer.
This is like the bank scandal and people need to know.
Davde trust me the agency pay over £20 to their drivers first pay £9:50 and the government fund the rest,
£10:50 this is due to run out end of March 2023 it’s a joke that’s why they don’t have drivers they have all left to become agency drivers.
What a total con.
Same again for mechanics they all have left to do the same and even better still they get a massive grant to take on apprentice staff so Guess what it’s all apprentice mechanic's as the government fund it.
This is not a business it’s all government funded.
“Recruitment” as you say is a problem that everybody is having.
But a the moment first bus don’t care they have agency drivers who get paid over £20 per hr first bus pay 9;50 and the government pay £10:50.
So all the long term staff have left now this funding will end soon from the government will end soon and then you will see a true picture.
This shambolic business has been propped up by the tax payer for over three years it’s a disaster in the making.
And it’s not even attempting to offer a fit for purpose passenger service.
Public transport needs to government run for the people and not to fund failing bus company’s like first bus.
Well I know this forum is for us all to take part in as I stated I don’t hold this rubbish share
but will just add there is going to be three factors that will push this share down all will be reviled soon.
Todays news was expected markets have priced in what’s to come.
DYOR.
First I don’t hold stock,
I did hold stock that I sold at £1:35 38500 shares that I had bought in the last 7 years.
Now why I posted here is that I read a few posts and I was giving my opinion first group should have sold,
It was a fair and good offer and my point is first group said the offer undervalued it’s business.
I cashed out soon after, now when I made my post £1:02 p
Now uk government have to save money and first bus can’t stand alone,
It can’t rise ticket prices as people won’t pay,
From April things are going to get very hard for the bus industry and trains and first needs to spend a lot of money to improve its failing business,
The budget on the 17th should give you a hint of what’s coming.
My point is they should have taken the offer, that’s why I posted.
Good luck your going to need it,
Tell me what’s going to change to make it worth holding?
One thing a take over, revenue is going to be same old.
Price is going to keep falling sorry and I am not a buyer.
To answer your question no,
Just look at the last 10 years.
Show me the money?
And selling your best asset?
No dividend for 9 years ok it’s back now.
It’s been a bad investment and it won’t get better, it needs to much money to replace its clapped out fleet, high fuel cost, bus depots in poor state of repair, pension shortfalls,
Biggest issue can’t get drivers to stay “why is that”.
It’s a bad investment they had the chance to sell it off and they should have.
This is a really run in to the ground business,
It’s being propped up by governments funding should be cut big time see how undervalued they are then.
They pay agency bus drivers £21:00 and their own staff £10:50 sorry £12:00 it took 6 months to get that on a two year deal.
I would not own any stock in FGP it’s a doomed business every man and his dog has jumped ship and new faces don’t stay too long.
The saying you can’t polish a turd they have tried it’s still a turd.
Dump stock there is so much better options out there.
If it went 35p again I still would not buy.
Hope this will help,
If you only have done 3 years you can sell up but you will have to pay 20% tax and 12% NI so take 33p off the £1:05 so you will get 72p per share,
Plus you will lose the free matching shares.
You have to wait 5 years so for you to pay nothing at all on the shares 8 long years.
The way I looked to me was there is no 40p dividend you can opt to sell your shares for £105p and that’s what cost group will do at the end of this month and the 500 million pound will be used to pay for this and the shares will be removed from the market.
I looks to me like another first bus con 40p divi don’t make me laugh.
Hi Paul,
I work for FGP as a bus driver and have to agree with almost everything you say it sad but true.
The price drop tho is due to markets nothing too do with divi or how rubbish first bus really is.
Ps SAYE gone now BAYE pointless nobody happy there anymore, staff turnover very high sick through the roof,
Best outcome government run public transport.
I can see under 50p very soon as well,
Still not buying wish I had dumped at 97p and paid tax and nI on my BAYE and taken a loss myself.
It’s all good.
Cant speak for the trains but is very testing on the busses,
Without going too deep Can’t keep drivers being run in to the ground,
Very little investment across the group 20 year old busses all painted turds.
They talk a good game it’s all talk,
No interest from the market today tells the story.
Hope they have a plan B
It’s a real bad deal what a mess they are in,
You don’t sell your best asset to fund a loss maker,
It should be the other way around.
It shows desperation let the dust settle from pandemic and dump the losses if it don’t make money don’t do it simple and cull the big over paid fat cats.
Dennis Zonno is hand gell they don’t have a clue what they are doing,
The way forward is Gamma cleaning it being used in airports hospitals and so on, have a read up on it,
It’s safe just put it on the bus close the door job done.
Moonman, I have chatted with PYUECK and Dennis many times and to be honest don’t care if you believe anything I say but I don’t post here that often and there are members here that know me personally so think what you like.
I make 80% of my money from shorting shares I only come on here to observe what people are saying and I buy the odd share.
At this moment I own 6 shares and have over 20 shorts it changes day to day.
But I have no short positions in Transport I really see them oversold and will be buying some soon to trade.
Don’t own any now gutted I did not pick up STOB at 23p what a buy:
Hi Dennis RE cleaners your right the busses are grubby and full of bacteria for sure.
The way forward is Gamma Ray cleaning a robot it takes about 5 min per bus not sure of the cost but that’s what all bus operators will have to do in this pandemic:
As PYUECK has quite rightly said FGP is a shambles and mostly their own doing and they have a massive hill to climb now but at 38p to 32p I really think it’s all priced in, well I would not short sell it here I do see some trading opportunities up to November tho.
I do see a future for first group but they need to sort this mess out now:
I still see it as a strong buy.