Thomas Cook

[philipl]

From the Times this morning:

[Mike E]

3 hours ago, Paul said:

I am left wondering how great an impact continual consumer demand for low cost products, across every retail sector, has contributed to this failure.

In the UK we seem to know the price of everything and the value of nothing.

John Lewis Partnership making a half-year loss for the first time ever shows the strain its 'Never Knowingly Undersold' policy is putting on it.

It's now relying on a good second half (usually where it makes more profit anyway), but in the midst of Brexit and the continued success of 'Black Friday' promotions, I worry for the Partnership.

Waitrose is still going strong, but I believe the future of the grocery market will be in E-Commerce and delivery, with supermarkets becoming less important.

Edited September 24, 2019 by Mike E

[den]

German arm of Thomas Cook - Condor Airlines - is getting a €380 million six month KfW bridging loan from German Govt/ Hesse Govt/ - continuing all flights, and keeping all 4,900 jobs and will “free itself” from insolvency claims against Thomas Cook

[Paul]

10 hours ago, Mike E said:

 

Waitrose is still going strong, but I believe the future of the grocery market will be in E-Commerce and delivery, with supermarkets becoming less important.

Interesting point of view. I shop online for things which are purely functional. We needed a new hoover recently and made a decision on the model we wanted and purchased online.

When it comes to "emotional" items, food, clothes, shoes etc. I would never consider online buying. I can't imagine allowing someone else to make my food decisions. My wife always wants to know why I waste time going to a clothes shop. It's simple.

I can go to the shop, touch, feel, chose size, colour etc. pay for it and go home. Alternatively I can order lots of clothes I "think" I will like online, wait for them to arrive, try it all on, reject everything except the item I want. Then I get in the car drive to the same frigging store to return everything I don't want. Ridiculous behaviour.

In my view an emotional purchase online is a total waste of my time. I've tried it. I don't do it unless I have absolutely no other option.

Edited September 24, 2019 by Paul

[philipl]

10 minutes ago, den said:

German arm of Thomas Cook - Condor Airlines - is getting a €380 million six month KfW bridging loan from German Govt/ Hesse Govt/ - continuing all flights, and keeping all 4,900 jobs and will “free itself” from insolvency claims against Thomas Cook

Condor is fundamentally profitable as are the operations in Belgium and Scandanavia.

The British parent is the debt burdened cash burning dog.

Note the bridging loan is entirely legitimate under EU rules.

The lack of State aid for Thomas Cook in the UK is entirely a Tory political ideological position.

[den]

Just now, philipl said:

Condor is fundamentally profitable as are the operations in Belgium and Scandanavia.

The British parent is the debt burdened cash burning dog.

Note the bridging loan is entirely legitimate under EU rules.

The lack of State aid for Thomas Cook in the UK is entirely a Tory political ideological position.

Thomas Cook airlines were profitable. Why has that not been sold or supported?

[philipl]

Just now, den said:

Thomas Cook airlines were profitable. Why has that not been sold or supported?

Looks like there is going to be an official enquiry into what has gone on here.

I suspect a bunch of city whizzes have set up insurance backed derivatives which made crashing Thomas Cook financially far more attractive than the hard work of turning round an ailing group.

The sort of vulture capitalists who lost a fortune betting against the Supreme Court outcome this morning but who are shorting all over the place in the hope of making derivative based profits from abject misery of No Deal.

[Mike E]

35 minutes ago, Paul said:

Interesting point of view. I shop online for things which are purely functional. We needed a new hoover recently and made a decision on the model we wanted and purchased online.

When it comes to "emotional" items, food, clothes, shoes etc. I would never consider online buying. I can't imagine allowing someone else to make my food decisions. My wife always wants to know why I waste time going to a clothes shop. It's simple.

I can go to the shop, touch, feel, chose size, colour etc. pay for it and go home. Alternatively I can order lots of clothes I "think" I will like online, wait for them to arrive, try it all on, reject everything except the item I want. Then I get in the car drive to the same frigging store to return everything I don't want. Ridiculous behaviour.

In my view an emotional purchase online is a total waste of my time. I've tried it. I don't do it unless I have absolutely no other option.

Don't get me wrong, supermarkets will likely still exist, but will probably function more like department stores as attractions like the Trafford Centre, with smaller 'Little Waitrose'/'Tesco Metro'- type shops being more common.

Just my view on it, I don't think my generation cares too much about emotional attachment to food.

[Silas]

Being reported the Thomas Cook collapse could be a big problem for Wolves.

Their owners were the biggest single shareholders at 18%. Estimated to be worth 1 billion at one point. 

The money they have already invested to get to the Prem and stay there,  coupled with a 1 billion loss, then the potential of relegation looming.

That could turn into a total disaster. Talk about quick changes of fortunes in football.

From their awesome season last year, qualification for Europe etc, playing great stuff on the pitch - they could be back in the Champ and bankrupt in 8 months. 

[DE.]

Just now, Silas said:

Being reported the Thomas Cook collapse could be a big problem for Wolves.

Their owners were the biggest single shareholders at 18%. Estimated to be worth 1 billion at one point. 

The money they have already invested to get to the Prem and stay there,  coupled with a 1 billion loss, then the potential of relegation looming.

That could turn into a total disaster. Talk about quick changes of fortunes in football.

From their awesome season last year, qualification for Europe etc, playing great stuff on the pitch - they could be back in the Champ and bankrupt in 8 months. 

When I saw Fosun were TC's biggest shareholder I did wonder how or if that would impact Wolves. If it does create a money problem then things could go downhill very rapidly there.

[philipl]

Fosun somehow have been able to hang onto Wolves when pretty well all other Chinese owners of international sports clubs have been forced to divest by the Chinese Government.

Even before the collapse they were looking to sell 20% of Wolves for £70m.

[Husky]

On 24/09/2019 at 11:24, philipl said:

From the Times this morning:

I have to say either of those decades is preferable to the present.

[Mike E]

1 hour ago, Husky said:

I have to say either of those decades is preferable to the present.

At least we weren't being bombed in the 70s.

[philipl]

1 hour ago, Mike E said:

At least we weren't being bombed in the 70s.

Forgotten the IRA?

[Mike E]

4 hours ago, philipl said:

Forgotten the IRA?

I had, actually. Ooops. Bloody Millennial.

[philipl]

Sorry to be a misery but looks like Cox & Kings, another venerable holiday operator is about to go. They are very much top end of the market and long haul.

[Tyrone Shoelaces]

On 26/09/2019 at 14:26, Husky said:

I have to say either of those decades is preferable to the present.

What and have to wear flares again ! Not that I ever did !

[broadsword]

On 26/09/2019 at 14:26, Husky said:

I have to say either of those decades is preferable to the present.

No, they're really not. 

 

Rationing, being bombed whether in the street or from above, bananas and chicken being seen as exotic food stuffs, three day week, binmen on strike , sick man of Europe. 

 

You must be joking. But the disaster capitalists want to make life miserable for the people again, and some of the people are helping them by believing their nonsense

[old darwen blue]

On 05/10/2019 at 22:26, broadsword said:

No, they're really not. 

 

Rationing, being bombed whether in the street or from above, bananas and chicken being seen as exotic food stuffs, three day week, binmen on strike , sick man of Europe. 

 

You must be joking. But the disaster capitalists want to make life miserable for the people again, and some of the people are helping them by believing their nonsense

... Labour government, union power....

[broadsword]

Three day week was under Ted heath, no? 

[Vinjay]

I didn't know where to put this but apparently it costs more for travel insurance if you have Aspergers. Of course you could just ignore it but what happens then if you break your arm or whatever? Would that invalidate the claim if they find out about aspergers and didn't declare? What the hell does Aspergers have to do with physical injuries? I'm considering not bothering with the insurance at all (as I didn't last time visiting the US) but it was cheap enough to lean towards getting it. I don't take kindly to being ripped off though.

[Paul]

 

22 hours ago, Vinjay said:

I didn't know where to put this but apparently it costs more for travel insurance if you have Aspergers. Of course you could just ignore it but what happens then if you break your arm or whatever? Would that invalidate the claim if they find out about aspergers and didn't declare? What the hell does Aspergers have to do with physical injuries? I'm considering not bothering with the insurance at all (as I didn't last time visiting the US) but it was cheap enough to lean towards getting it. I don't take kindly to being ripped off though.

What happens is if you fail to declare a pre-existing condition your insurance is invalid.

Who says you're being ripped off? Look around there are a plenty of insurance companies which specialise in offering cover to those with specific issues. Try World First.

On the other hand if you want to risk hospital bills for $$$$ that's your choice.

Edited December 29, 2019 by Paul