What's going to collapse next...

[spygirl]

On 17/09/2019 at 11:08, spygirl said:

https://www.gazettelive.co.uk/news/teesside-news/live-updates-sirius-minerals-shares-16930426

I have held for coming on two years and have not sold a share, don’t see any point selling them now.

Honestly at this point, I would be happy with any profit but hopefully it’s too big to fail and perhaps we just need to wait that little bit longer.

Go big or go home.

?????

Kudos to spending their last millions on the most outrageous bit of PR spin.

https://www.thisismoney.co.uk/money/news/article-7541673/Cautious-Treasury-loses-Sirius-Minerals-millions-failing-company.html

 

Cautious Treasury loses out on Sirius Minerals millions after failing to back the company

•  Sirius asked the Government to guarantee up to $1billion of bonds
• If the Treasury had agreed, Sirius would have paid the Government annual interest estimated at $50million to $100million over the life of the bond 

[spygirl]

Fuck having a stock market or investment funds. Just let ukgov do all the investing for you.

A $50m return on $1bln for something like Sirius is nuts.

They could not get a sniff at 15% yield, so for 1bln would give ukgov 150m a year.

Maybe if the 'world beating board of directors' had not drawn so much salary.

Given such a fantastic invest, they out to have been happy being paid in stock.p rather than the paltry 2m/y the ceo gets in cash.

[dgul]

1 hour ago, spygirl said:

Kudos to spending their last millions on the most outrageous bit of PR spin.

https://www.thisismoney.co.uk/money/news/article-7541673/Cautious-Treasury-loses-Sirius-Minerals-millions-failing-company.html

 

Cautious Treasury loses out on Sirius Minerals millions after failing to back the company

•  Sirius asked the Government to guarantee up to $1billion of bonds
• If the Treasury had agreed, Sirius would have paid the Government annual interest estimated at $50million to $100million over the life of the bond 

Or maybe they could just wait for the company to go bankrupt and then offer the bond security to the company that picks up the pieces and which will be more likely to succeed without the accumulated debt to date.

Even better, wait for that company to do a bit more development, go bankrupt, and then offer the security to the company that picks up those pieces.

And, if no company comes in to pick up the pieces then it means independent people have looked at the business case and decided that it can't make money -- it is always good to take note of the opinions of those who have their actual money on the line (and not from people who have already broken the company, nor from people who spend other people's money).

[spygirl]

23 hours ago, spygirl said:

Kudos to spending their last millions on the most outrageous bit of PR spin.

https://www.thisismoney.co.uk/money/news/article-7541673/Cautious-Treasury-loses-Sirius-Minerals-millions-failing-company.html

 

Cautious Treasury loses out on Sirius Minerals millions after failing to back the company

•  Sirius asked the Government to guarantee up to $1billion of bonds
• If the Treasury had agreed, Sirius would have paid the Government annual interest estimated at $50million to $100million over the life of the bond 

Lying bastard.

Sirius has move from my list of high risk to out n out con.

https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-could-start-mining-17043274

They are nowhere near the deposits.

The tunnel they are digging is an access tunnel, required to get move the bulk product to the port.

Even in the unlikely event they could easily access a deposit (they really cannot, these deposits are much further down than Boulby)  then still have to get the stuff out of the ground and processed.

 

 

 

[spygirl]

On 30/09/2019 at 09:32, spygirl said:

One of the big 4 accountants.

There a stupid story in the FT

KPMG UK staff told to hand back work mobile phones

https://www.ft.com/content/ae2d4f70-e142-11e9-b112-9624ec9edc59

If employees need a work mobile phone, give them one - they only cost ~30/m for a top end one.

As a cost savings measures its fucking gormless.

Lots of slagging off in the comments - accountants are shit, useless.

I had filed this one of the constant paces that te FT publish to do with accountants n law groups - stupid, inefficient orgs that are useless, just pay for a lot of ads, so their poof piece/look at us! PR pieces get published.

 

Then theres this, published later:

https://www.bbc.co.uk/news/live/business-49849441

Goal soccer has seriously fucked up on trying to unfuck the VAT fuck up.

Anther massive audit fuckup, overseen by KPMG.

What in fuck is this org doing?

 

 

 

IN addition to this

BDO narrows gap with Big Four but warns audit is ‘broken’

Merger with Moore Stephens boosted growth and allowed firm to leapfrog Grant Thornton

https://www.ft.com/content/d5b3f894-e5d1-11e9-9743-db5a370481bc

Heightened awareness of reputational risks from audit clients has made firms reluctant to aggressively target larger clients. Grant Thornton, which last year said it would stop bidding for audit contracts from Britain’s largest listed companies, has been left tarnished by a string of high profile accounting controversies, including Patisserie Valerie and Interserve, while concerns over Sports Direct’s governance and practices have left it without any major firm — including BDO — willing to audit it.

All the Big Four firms, as well as BDO and Grant Thornton, have launched wide-ranging reviews of client lists to pick out those that put them most at risk, preparing the ground for a cull of clients.

[dgul]

Pizza Express is undergoing a try at renegotiating its debt.  Maybe it'll work, maybe it won't...

(debt is £1.6m per restaurant -- which is far more than it would cost to actually build each of the things -- and they're leasehold...  Yet another story of PE destroying a company with debt)

[Craig]

7 hours ago, spygirl said:

IN addition to this

BDO narrows gap with Big Four but warns audit is ‘broken’

Merger with Moore Stephens boosted growth and allowed firm to leapfrog Grant Thornton

https://www.ft.com/content/d5b3f894-e5d1-11e9-9743-db5a370481bc

Heightened awareness of reputational risks from audit clients has made firms reluctant to aggressively target larger clients. Grant Thornton, which last year said it would stop bidding for audit contracts from Britain’s largest listed companies, has been left tarnished by a string of high profile accounting controversies, including Patisserie Valerie and Interserve, while concerns over Sports Direct’s governance and practices have left it without any major firm — including BDO — willing to audit it.

All the Big Four firms, as well as BDO and Grant Thornton, have launched wide-ranging reviews of client lists to pick out those that put them most at risk, preparing the ground for a cull of clients.

BDO specialise in insolvencies, don't they? They'll be laughing over the next few years.

[spygirl]

On 06/10/2019 at 13:06, spygirl said:

Fuck having a stock market or investment funds. Just let ukgov do all the investing for you.

A $50m return on $1bln for something like Sirius is nuts.

They could not get a sniff at 15% yield, so for 1bln would give ukgov 150m a year.

Maybe if the 'world beating board of directors' had not drawn so much salary.

Given such a fantastic invest, they out to have been happy being paid in stock.p rather than the paltry 2m/y the ceo gets in cash.

https://www.proactiveinvestors.co.uk/companies/news/904353/sirius-minerals-boss-turns-fire-on-investor-bulletin-boards-904353.html

The boss of Sirius Minerals PLC (LON:SXX) has criticised online shareholder forums and called on regulators to investigate and potentially shut down the sites.

Chris Fraser, chief executive of the troubled North Yorkshire potash mine developer, said in an interview with The Times that the forums, where shareholders can post comments on their investments, were a “disgrace” and that it was concerning that “unregulated, unlicensed” individuals were able to give out investment advice online.

I would assume that the CEO and board have been hauled in for questions about some of their past statements.

[Errol]

Investors discussing a stock is just freedom of speech.

[dgul]

Sofa so bad...

https://www.bbc.co.uk/news/uk-wales-49977014

Quote

A furniture company has gone bust with 252 job losses after reporting "a catastrophic collapse in orders".

Triumph Furniture of Merthyr Tydfil, which has bases in the town and Dowlais, supplied more than 600 furniture sellers, as well as being a major supplier of central government.

They did office furniture -- I've sat at quite a few of their desks.

I think this is sad -- not just because of the job losses etc, but I believe that we're entering into an age of deglobalisation, and national suppliers of bulky goods should do well out of it.  However, they've got to survive the downturn first, and Triumph didn't even get to the start of it.

[spygirl]

3 hours ago, dgul said:

Sofa so bad...

https://www.bbc.co.uk/news/uk-wales-49977014

They did office furniture -- I've sat at quite a few of their desks.

I think this is sad -- not just because of the job losses etc, but I believe that we're entering into an age of deglobalisation, and national suppliers of bulky goods should do well out of it.  However, they've got to survive the downturn first, and Triumph didn't even get to the start of it.

Im trying to buy an arm chair.

Youd think it would be easy.

Its not.

How can an industry produce so much horrid junk?

[One percent]

1 minute ago, spygirl said:

Im trying to buy an arm chair.

Youd think it would be easy.

Its not.

How can an industry produce so much horrid junk?

Have you got your slippers and pipe to go with it yet?  

[spygirl]

8 minutes ago, One percent said:

Have you got your slippers and pipe to go with it yet?  

When i say arm chair, i mean a non dining chair to sit in n read stuff, rather than laying on sofa or floor.

Sll the chairs are either laziboy tupes. Or massive old people floral tanks.

[One percent]

4 minutes ago, spygirl said:

When i say arm chair, i mean a non dining chair to sit in n read stuff, rather than laying on sofa or floor.

Sll the chairs are either laziboy tupes. Or massive old people floral tanks.

I can see you in a wing back leather chair, resplendent in your smoking jacket and slippers.  

[spygirl]

7 minutes ago, One percent said:

I can see you in a wing back leather chair, resplendent in your smoking jacket and slippers.  

Dont want leather. i tend to sit around just in my boxers. A leather chair will take my skin off.

[sleepwello'nights]

1 minute ago, spygirl said:

Dont want leather. i tend to sit around just in my boxers. A leather chair will take my skin off.

There are some European manufacturers that make very good stylish furniture. 

[Chewing Grass]

2 minutes ago, spygirl said:

Dont want leather. i tend to sit around just in my boxers. A leather chair will take my skin off.

Leather ain't what it used to be, quality is shit nowadays, hides are sprayed with a vinyl coating to colour them, if you use the thing heavily it peels off.

[One percent]

8 minutes ago, spygirl said:

Dont want leather. i tend to sit around just in my boxers. A leather chair will take my skin off.

so what you are saying is that you sit in just your undies, posting stuff on an obscure Internet forum. 

fuck. 

[spygirl]

2 minutes ago, One percent said:

so what you are saying is that you sit in just your undies, posting stuff on an obscure Internet forum. 

fuck. 

Normally t shirt too.

[One percent]

2 minutes ago, spygirl said:

Normally t shirt too.

That’s ok then. 

[sancho panza]

Hays Travel?

https://www.retailgazette.co.uk/blog/2019/10/2500-jobs-saved-as-hays-travel-buys-555-thomas-cook-high-street-stores/

One of the UK’s largest travel agencies has said it will save thousands of high street jobs at Thomas Cook after it made a deal to buy 555 of its stores around the UK.

Hays Travel has already employed 421 members of Thomas Cook staff since the business collapsed last month after an unsuccessful rescue bid.

Hays Travel now intends to reopen the former Thomas Cook shops immediately, potentially saving up to 2500 further jobs.

 

Looks like we've passed the rich old biddy peak

[TNS]

Links of London topples:

https://www.bbc.co.uk/news/uk-england-london-49983489

[leonardratso]

23 minutes ago, TheNickos said:

Links of London topples:

https://www.bbc.co.uk/news/uk-england-london-49983489

thats upset me, i used do all my weekly 'ratner' style shopping there.

[spygirl]

On 06/10/2019 at 13:01, spygirl said:

Kudos to spending their last millions on the most outrageous bit of PR spin.

https://www.thisismoney.co.uk/money/news/article-7541673/Cautious-Treasury-loses-Sirius-Minerals-millions-failing-company.html

 

Cautious Treasury loses out on Sirius Minerals millions after failing to back the company

•  Sirius asked the Government to guarantee up to $1billion of bonds
• If the Treasury had agreed, Sirius would have paid the Government annual interest estimated at $50million to $100million over the life of the bond 

More money spent on a ~5min plug on R4 this morning.

Jesus.

Its going to happen!

Itll make so much money!

Its just got to happen!

We've sold loads of products .....

No youve not you fuckatards.

Sirius is more a belief than an investment FFS.

I notice that the |CEO n management were totally absent, just doing sound bites with workers and local investors.

 

[One percent]

1 hour ago, spygirl said:

More money spent on a ~5min plug on R4 this morning.

Jesus.

Its going to happen!

Itll make so much money!

Its just got to happen!

We've sold loads of products .....

No youve not you fuckatards.

Sirius is more a belief than an investment FFS.

I notice that the |CEO n management were totally absent, just doing sound bites with workers and local investors.

 

Talking to someone the other day who was saying that they are laying people off