RE: Sound23 Apr 2015 20:49
Hello Sound, I thought you might have had connections in the USA as you once posted on here at nearly 2 a.m. over here.
Please don't take this the wrong way but if you were mistreated as an employee of sports direct and had grave concerns about its business ethics, why did not only you but also your wife invest in the company and you were happy to make huge profits from that investment. I could understand you continuing to draw a salary until you found another job of course.
I didn't buy any shares here at either £3 or £11. I think you are mistaking me for another poster Tilly who has been here for a while. I do not currently have a position here but have to say to you that I would be happier to risk my money in here than in a lot of other British retailers at the moment. spd is a trading share for many because it does not pay a divi - but it does make profits and there are other retailers that neither pay a divi nor make profits at the current time. I cannot understand why somebody like yourself who has made huge profits here would try to put me off doing the handful of successful trades I have done here since you started posting.
In so far as the USC situation is concerned, it is not a unique one. Companies and retailers have been going bust in great numbers and the shareholders have been left with nothing. Some of these retailers have then risen Phoenix like with their debt jettisoned, some of the staff still with their jobs or other jobs, the companies even being able to retain the name but the suppliers and shareholders bearing the brunt. I am going to suggest to you that I know for a fact that in a year with no election, the politicians are not interested.
You mention the select committees. They have no teeth. The chair of the public accounts committee gave the chiefs of Amazon, Starbucks and Google a lot of stick for not paying a lot of tax on profits made in this country. Nothing much has happened. The chair of the committee's own family business also paid very little tax. That I am afraid is one of the biggest hurdles some struggling UK companies are facing as they are trading at a huge disadvantage and can't compete on price and our politicians are not doing enough .
Scratch behind the persona of many public figures and you will find an element of hypocrisy in their makeup. The chair of the Scottish Affairs Select Committee is/was a Rangers shareholder so his spat with sports direct may have had an element of self interest in it I would suggest. The guy has been in politics a long time, I didn't hear of him trying to do anything to end some of the most obnoxious discrimination that went on by a certain employer in the past and he was happy to invest. I'm afraid that's all from me here. Like yourself, I have a portfolio of many shares. I wouldn't let your concerns here eat away at you and you might find it refreshing to post on some of your other holdings. Take care and all th