What's going to collapse next...

[sancho panza]

 

2 hours ago, spygirl said:

Sharon White’s immediate challenges as John Lewis chairman

Key calls on management structure and policy await ex-Ofcom chief as she seeks to turn retailer round

https://www.ft.com/content/33adc46a-4361-11ea-a43a-c4b328d9061c

Corporate leaders from Tesco chairman John Allan to former Kingfisher chief executive Ian Cheshire stressed the former Ofcom chief’s strong interpersonal skills, firm grasp of strategy and ability to learn quickly. 

The last attribute is likely to be the most important as the partnership faces one of the most challenging periods in its 90-year history. Profits at the eponymous department stores are under pressure because of weak consumer confidence and widespread discounting by distressed peers. 

Ohhh. Ethnic basket weaving in yurts!

Top rated Comments

I can think of few markets scarier right now than British retail.. competition is immense. Hiring a career civil servant feels like bringing a toy phone to a knife fight.. 

This is madness, the ship is sinking and you bring in someone with ‘great interpersonal’ skill? Surely you need someone with actual seafaring experience. Merely delaying the inevitable , trim the fat, slim down. Too many complacent partners around. 

 

I write as someone who's spent much of the last 30 years working in retail /consumer.

The group restructuring is a nonsensical cost-wasting disaster, which will utterly distract management and will remove years of experience before being reversed in 3-5 years. Can someone explain to me how an ambient supply chain will be effectively merged with a mixed chilled/frozen/ambient one with completely different replenishment cycles? How are store ops going to be merged? Or the buying (of completely different products) departments?

Whilst I rarely shop in Waitrose, I used to be a regular at JL, but it has sadly lost its way over the last 5 years at least. Its "& Partners" rebranding was pointless, the virtual removal of staff uniforms stupid (it's really not obvious who the staff are now), its product ranging no longer matching its middle England customers (eg. far too many slim fit styles in menswear vs its regular-shaped middle-aged male customers), the recent Sale discounts uncompelling. Its website isn't as bad as many make out, but availability seems an issue.

Charlie Mayfield's stewardship has been a disaster and he has handed retail newbie Sharon White the ultimate poisoned chalice. It's a massive shame.

 

>> Its "& Partners" rebranding was pointless
completely agree - JL appears headed up by thicky twins.

 

>> Its "& Partners" rebranding was pointless
completely agree - JL appears headed up by thicky twins.

 

Just googled her.Not sure what the JL 'partners' are thinking.

https://en.wikipedia.org/wiki/Sharon_White_(civil_servant)

Edited February 2, 2020 by sancho panza

[Wight Flight]

Am I reading the accounts wrong, or is Vue Cinemas a zombie?

https://beta.companieshouse.gov.uk/company/08514872/filing-history

[Wheeler]

18 minutes ago, Wight Flight said:

Am I reading the accounts wrong, or is Vue Cinemas a zombie?

https://beta.companieshouse.gov.uk/company/08514872/filing-history

It certainly looks that way based on a quick glance through - financing costs 3x the gross profit, losing £85m last year and net liabilities of £470m.

Looks like they are borrowing to cover their losses - debt at £1.5b, and £878m of goodwill on the books as well!

 

[Wight Flight]

10 minutes ago, Wheeler said:

It certainly looks that way based on a quick glance through - financing costs 3x the gross profit, losing £85m last year and net liabilities of £470m.

Looks like they are borrowing to cover their losses - debt at £1.5b, and £878m of goodwill on the books as well!

 

That's what I saw. And not even depreciating the goodwill.

Another rape by the venture capitalists?

[spygirl]

9 hours ago, sancho panza said:

 

Just googled her.Not sure what the JL 'partners' are thinking.

https://en.wikipedia.org/wiki/Sharon_White_(civil_servant)

That the board knew what they were doing.

Its the idiot squaddy thats been in charge.

Fucked them up good n proper.

Now choosing someone so hopeless that it will overshadow his massive fuckup.

Ex army, no ex senior civil servant, whos rise can be attributed to being black n a woman.

NEVER HIRE ANYONE FROM TH PUBLIC SECTOR UNLESS THEY HAVE ACQUIRED A SPECIFIC HARD TO GET SKILL.

Public sector, be it civil service paper shufflers or army, just haveno idea of the complexity of large scale,. non trivial private sector.

Their usual way of coping when they dont understand something is to slow down and do nothing. Deadly in something like retail at the mo.

 

 

 

[spygirl]

1 hour ago, spygirl said:

That the board knew what they were doing.

Its the idiot squaddy thats been in charge.

Fucked them up good n proper.

Now choosing someone so hopeless that it will overshadow his massive fuckup.

Ex army, no ex senior civil servant, whos rise can be attributed to being black n a woman.

NEVER HIRE ANYONE FROM TH PUBLIC SECTOR UNLESS THEY HAVE ACQUIRED A SPECIFIC HARD TO GET SKILL.

Public sector, be it civil service paper shufflers or army, just haveno idea of the complexity of large scale,. non trivial private sector.

Their usual way of coping when they dont understand something is to slow down and do nothing. Deadly in something like retail at the mo.

 

 

 

https://www.dailymail.co.uk/news/article-7959041/Energy-regulator-Ofgem-announces-plans-10m-electric-vehicles-road-10-years.html

Plans to put ten million electric vehicles on the road within ten years and rip gas central heating from every home are unveiled today.

Energy regulator Ofgem has outlined how the nation will have to change the way it travels and heats homes to meet the Government’s target of net zero carbon emissions by 2050.

[Chewing Grass]

7 minutes ago, spygirl said:

https://www.dailymail.co.uk/news/article-7959041/Energy-regulator-Ofgem-announces-plans-10m-electric-vehicles-road-10-years.html

Plans to put ten million electric vehicles on the road within ten years and rip gas central heating from every home are unveiled today.

Energy regulator Ofgem has outlined how the nation will have to change the way it travels and heats homes to meet the Government’s target of net zero carbon emissions by 2050.

That second bit is the worst, politicised dogma before logic.

[Ash4781b]

23 hours ago, sancho panza said:

 

Just googled her.Not sure what the JL 'partners' are thinking.

https://en.wikipedia.org/wiki/Sharon_White_(civil_servant)

Missed this article which I think was pre new chair. I can’t think what the strategy is here? 

“The struggling John LewisPartnership is to stop publishing its weekly sales figures and said it would in future provide updates on its trading only every six months.”

https://www.theguardian.com/business/2020/jan/28/john-lewis-to-replace-weekly-sales-updates-with-twice-yearly-ones

[spygirl]

Forgot about these.

Micro Focus chairman Kevin Loosemore exits as group’s woes intensify

https://www.ft.com/content/e2b3790e-472c-11ea-aeb3-955839e06441

https://www.theregister.co.uk/2018/07/11/micro_focus_hpe_software_results/

Micro Focus has "completed and integrated" 17 buys in the past decade, including Attachmate in 2014, which it described as "transformational" because its assets were equivalent to more than twice the size of the existing Micro Focus business.

 

Micro Focus to buy Attachmate for $1.2bn

https://www.ft.com/content/441b350e-3cf9-11e4-a2ab-00144feabdc0

 

https://www.theregister.co.uk/2016/09/08/hpe_q3_2016_micro_focus/

Hewlett Packard Enterprise will eject its non-core software business in what it calls an $8.8bn "spin merge" deal with UK-based Micro Focus.

HPE's big data, security, and IT management products – including some of its ex-Autonomy assets – will be spun out into a new company that will merge with Micro Focus. That's a software portfolio HP spent at least $10bn acquiring.

The financial machinations are expected to complete before the end of HPE's fiscal Q3 2017 on July 31 of next year.

Microfocus market cap today is 2.7bln.

I think they had the most apt named CEO though.

 

[spygirl]

Jesus.

Sirius Minerals: The sad story of the disabled veteran who sank £250,000 Army payout into the mine

https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-disabled-veteran-says-17678509

But the ex-veteran, known only as John, said his life would be "radically changed" by the heavy losses he's facing and he's been left with "no choice" but to sell his shares.

He says if shareholders vote against Anglo American's offer later this month, he will "lose everything".

"There are tens of thousands losing their homes, pensions, life savings," he said.

"Mr Goodwill has made very light of this considering it's his colleagues in Parliament that have got Sirius into this mess."

Sirius Minerals asked the Government to underwrite a loan to allow construction to continue last September, but Whitehall officials refused.

"The Government couldn't see what was in front of them," John said.

"Anglo American can. They are jumping up and down, saying how fantastic, it's a Tier One project.

"We all knew this. I thought this was such a worthy project that I put it all in.

"All the people that have suffered so much are suffering because of what [Mr Goodwill] and his colleagues have done."

So .... UKGOV could nto see something that JOhn could see.

Yet someone how JOhns down ~250k.

[Loki]

What a moron

"Put all your money in a line and have it walk slowly towards the machine gun nests"

[Hardhat]

Sirius situation is just getting sad now.

Don't invest in what you don't understand!!!!

[Popuplights]

Also, don't Invest what you can't afford to lose.

No sympathy. Sheer stupidity.

[spunko]

Sad situation, but I would imagine someone willing to risk £250,000 into an unknown entity is a problem gambler, it just isn't specified in the article. Nobody would risk that much capital without a warped attitude to risk IMO.

[spygirl]

10 minutes ago, spunko said:

Sad situation, but I would imagine someone willing to risk £250,000 into an unknown entity is a problem gambler, it just isn't specified in the article. Nobody would risk that much capital without a warped attitude to risk IMO.

No, not in this case.

Ive spent the last 5 years listening to people like thus swallow pub bullshit, billy bollocks and chinese whispers.

1000s of jobs ....... billions to be made .... get in early.....

Theres been this deluded group - witness tge government fault, cant see what a great invedtment, tier 1 whatever in fucksakes that means.

The sirius board have been tertible to criminal. Pitching their bullshit n figures.

The few mining analysis there are didnt bother as the project was so unlikely.

 

 

[sancho panza]

On 03/02/2020 at 07:04, spygirl said:

 

 

On 03/02/2020 at 08:05, spygirl said:

https://www.dailymail.co.uk/news/article-7959041/Energy-regulator-Ofgem-announces-plans-10m-electric-vehicles-road-10-years.html

Plans to put ten million electric vehicles on the road within ten years and rip gas central heating from every home are unveiled today.

Energy regulator Ofgem has outlined how the nation will have to change the way it travels and heats homes to meet the Government’s target of net zero carbon emissions by 2050.

Whatever....shows how naieve they are.

On 03/02/2020 at 20:56, Ash4781b said:

Missed this article which I think was pre new chair. I can’t think what the strategy is here? 

“The struggling John LewisPartnership is to stop publishing its weekly sales figures and said it would in future provide updates on its trading only every six months.”

https://www.theguardian.com/business/2020/jan/28/john-lewis-to-replace-weekly-sales-updates-with-twice-yearly-ones

Speaks volumes about their lack of sales volumes.

9 hours ago, spygirl said:

Forgot about these.

Micro Focus chairman Kevin Loosemore exits as group’s woes intensify

https://www.ft.com/content/e2b3790e-472c-11ea-aeb3-955839e06441

https://www.theregister.co.uk/2018/07/11/micro_focus_hpe_software_results/

Micro Focus has "completed and integrated" 17 buys in the past decade, including Attachmate in 2014, which it described as "transformational" because its assets were equivalent to more than twice the size of the existing Micro Focus business.

 

Micro Focus to buy Attachmate for $1.2bn

https://www.ft.com/content/441b350e-3cf9-11e4-a2ab-00144feabdc0

 

https://www.theregister.co.uk/2016/09/08/hpe_q3_2016_micro_focus/

Hewlett Packard Enterprise will eject its non-core software business in what it calls an $8.8bn "spin merge" deal with UK-based Micro Focus.

HPE's big data, security, and IT management products – including some of its ex-Autonomy assets – will be spun out into a new company that will merge with Micro Focus. That's a software portfolio HP spent at least $10bn acquiring.

The financial machinations are expected to complete before the end of HPE's fiscal Q3 2017 on July 31 of next year.

Microfocus market cap today is 2.7bln.

I think they had the most apt named CEO though.

 

Micro Focus were a big name in the tech bubble back in the noughties.Amazing theyre still going.

17 minutes ago, spunko said:

Sad situation, but I would imagine someone willing to risk £250,000 into an unknown entity is a problem gambler, it just isn't specified in the article. Nobody would risk that much capital without a warped attitude to risk IMO.

x2

[spygirl]

Just keep it steady for a few quarters, dont do anything to upset the boat .... soon will be able to draw a line behind our past fuckups ....

https://www.reuters.com/article/us-metro-bank-lawyer/britains-metro-bank-hires-lawyers-over-cuba-and-iran-sanctions-breaches-idUSKBN1ZZ17I

How in cunting fuck did a small UK challenger bank get involved with Iran n Cuba FFS?

These people must be total fucking morons/crooks.

 

 

 

 

[sancho panza]

9 hours ago, spygirl said:

Just keep it steady for a few quarters, dont do anything to upset the boat .... soon will be able to draw a line behind our past fuckups ....

https://www.reuters.com/article/us-metro-bank-lawyer/britains-metro-bank-hires-lawyers-over-cuba-and-iran-sanctions-breaches-idUSKBN1ZZ17I

How in cunting fuck did a small UK challenger bank get involved with Iran n Cuba FFS?

These people must be total fucking morons/crooks.

 

 

 

 

Because they have little expereince of complaince issues until it's too late.

[spygirl]

On 11/01/2020 at 13:32, spygirl said:

Finablr, owner of Travelex.

If only half the claims coming out about travelexes system are true then its been a ticking bomb for 10 years.

https://www.telegraph.co.uk/technology/2020/01/09/daring-6m-cyber-heist-could-least-travelex-woes/

I didnt fully grasp that Finablr *AND* NMC health are different companies from the same Indian billionaire.

https://www.ft.com/content/ca54a7ea-4c20-11ea-95a0-43d18ec715f5

For almost five decades, Indian businessman BR Shetty has represented the ultimate expat dream. Arriving in Abu Dhabi two years after the formation of the United Arab Emirates, he built two businesses that would elevate him into the pantheon of global billionaires after they listed on the London Stock Exchange.

Now, FTSE 100 healthcare provider NMC Health and Finablr, the financial services group that owns currency provider Travelex, are facing a battle for survival, after a string of problems that have not only diminished the wealth and reputation of 77-year-old Mr Shetty, but dealt a damaging blow to London’s financial market.

Whod have guess 2 companies, owned by the same Indian, operating from UAE could turn out to be such hobbled together piles of shit?

 

 

[spygirl]

Intu ....

Upwards and upwards ...

https://www.ft.com/content/f58ab452-4cc2-11ea-95a0-43d18ec715f5

 

Oh. Sorry. I had the paper upside down.

Fucked.

 

 

 

[TheCountOfNowhere]

Ski holiday travel company's can't be long for this world. 

[spygirl]

Just now, TheCountOfNowhere said:

Ski holiday travel company's can't be long for this world. 

Indeed.

Or any company that relies on selling to Chinese tourists.

I might have another go at Bath. Last time I went I could not move for Chinese.

 

 

[TheCountOfNowhere]

42 minutes ago, spygirl said:

Indeed.

Or any company that relies on selling to Chinese tourists.

I might have another go at Bath. Last time I went I could not move for Chinese.

 

 

Last time I went to Bath it was silly money for a shit hotel. 

 

It's doubled since then. 

 

First time I went there it was run down, no one wanted to live there as its well away from civilisation. Was full of crusty dog on a string types and had some really rough bits.

 

Will head back that way at some point. 

 

Has a look at price of ski holidays. They're outrageous considering you can drive there from the UK 

Then there's half term ski holidays, the words, thieving money grabbing ####s springs to mind. Prices are double to quadruple the other weeks. 

You can learn to fly for the price if a week in the snow 🤣🤣🤣🤣🤣🤣🤣🤣🤣

[Don Coglione]

2 minutes ago, TheCountOfNowhere said:

Last time I went to Bath it was silly money for a shit hotel. 

 

It's doubled since then. 

 

First time I went there it was run down, no one wanted to live there as its well away from civilisation. Was full of crusty dog on a string types and had some really rough bits.

 

Will head back that way at some point. 

 

Has a look at price of ski holidays. They're outrageous considering you can drive there from the UK 

Then there's half term ski holidays, the words, thieving money grabbing ####s springs to mind. Prices are double to quadruple the other weeks. 

You can learn to fly for the price if a week in the snow 🤣🤣🤣🤣🤣🤣🤣🤣🤣

I thought you lived in Bath? Was the before or after France, or have you forgotten?

[TheCountOfNowhere]

One of the reasons I went to France was to get away from some serious Harassment.

 

I spoke to the police about it at the time and I will not hesitate to do so again. 

 

https://www.cps.gov.uk/legal-guidance/stalking-and-harassment

If you don't like what I say, block me. If you harrass me you had better be prepared to face the consequences of your actions 

I think you know who you are. 

@spunko based on events of a couple of years ago I find certain posts unwelcome, sinister and threatening. Please ask the person, or persons responsible to desist

 

Thanks