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Thread: Thomas Cook

  1. #91

    Re: Thomas Cook

    No they don't......and Blair. Brown...both of the same mould.

  2. #92

    Re: Thomas Cook

    I'm starting to think you aren't a reliable or neutral source

  3. #93

    Re: Thomas Cook

    I am just stating facts.

  4. #94

    Re: Thomas Cook

    Quote Originally Posted by Maurice Swan View Post
    I am just stating facts.
    You arenít though

  5. #95

    Re: Thomas Cook

    Yes I am...just READ the links fully. If you think I am wrong, tell me on what basis...ie links that say individual countries CAN bail out companies.,f

  6. #96

  7. #97

    Re: Thomas Cook

    Quote Originally Posted by Maurice Swan View Post
    Yes I am...just READ the links fully. If you think I am wrong, tell me on what basis...ie links that say individual countries CAN bail out companies.,f
    You are wrong - the rules on state aid are usually used to stop states conferring an advantage to for example a manufacturer based in their borders at the detriment of competition to other manufacturers i.e. if we offered a subsidy on all cars made in the UK but not elsewhere in Europe.
    Offering a secured loan to help an ailing business through a cashflow crisis wouldn't fall into the same category.

  8. #98

    Re: Thomas Cook

    Quote Originally Posted by Rjk View Post
    You are wrong - the rules on state aid are usually used to stop states conferring an advantage to for example a manufacturer based in their borders at the detriment of competition to other manufacturers i.e. if we offered a subsidy on all cars made in the UK but not elsewhere in Europe.
    Offering a secured loan to help an ailing business through a cashflow crisis wouldn't fall into the same category.
    Exactly

  9. #99

  10. #100

    Re: Thomas Cook

    Quote Originally Posted by Maurice Swan View Post
    The "after many years of EU governments rescuing sensitive industries" line should give you a clue.
    They absolutely could have done it if they had wanted to, there have been many precidents, but the UK and especially this government is very beholden to the idea of the efficiency of the market and favours letting things run their course.

  11. #101

    Re: Thomas Cook

    I tell you what...why don't you contact your local MP and ask the same question....

    As I said..some countries ignore this..others don't (ie the UK)

  12. #102

    Re: Thomas Cook

    Quote Originally Posted by Maurice Swan View Post
    I tell you what...why don't you contact your local MP and ask the same question....

    As I said..some countries ignore this..others don't (ie the UK)
    I'd say it's more about interpretation of the rules rather than ignoring it or not. We choose to interpret the rules in a way that suits the ideology of this government. Other nations interpretation is different.

    Not a lot of point in writing to my mp now is there?

  13. #103

    Re: Thomas Cook

    That is what I said originally...the rules are that a government CANNOT bail out a failing company.....BUT some countries choose to take a different interpretation. I tell you what - I WILL contact my MP for the offiicial ruling and come back when received.
    Maybe you can be troubled to do the same.

  14. #104

    Re: Thomas Cook

    Isn't this a meaningless debate? £3 billion in debt & the £200 million had a life expectancy of 90 days. Just wasting money delaying the inevitable. Step back to when they were given their (annual) license to operate, how the feck did that get through the auditors?

  15. #105

    Re: Thomas Cook

    Yes I agree.....that is another reason why no bailout.

  16. #106

    Re: Thomas Cook

    Quote Originally Posted by Des Parrot View Post
    Isn't this a meaningless debate? £3 billion in debt & the £200 million had a life expectancy of 90 days. Just wasting money delaying the inevitable. Step back to when they were given their (annual) license to operate, how the feck did that get through the auditors?
    The auditors don't assess whether they should get a license to operate. But I agree with your main point.

  17. #107

    Re: Thomas Cook

    Quote Originally Posted by Maurice Swan View Post
    That is what I said originally...the rules are that a government CANNOT bail out a failing company.....BUT some countries choose to take a different interpretation. I tell you what - I WILL contact my MP for the offiicial ruling and come back when received.
    Maybe you can be troubled to do the same.
    Do you think that Thomas cook should get a loan from govt? The state aid rules don't preclude that. But even if they did it would be a waste of public money to stand up a failed travel agen in any case.

  18. #108

    Re: Thomas Cook

    A private company has gone bust due to poor management ,market pressure and strategic decisions that failed , it won't be first wont be the last . Its not like a steel company going and thousands of lives and comm unties suffer ,our taxpayers money is best served in funding public services ,this is just another example of blame and making political capital as Corbyn did today.

    Help the folk stranded and move on ,perhaps these airline industries should get together and introduce their own insurance protection fund instead of enjoying decades past of profit .

  19. #109

  20. #110

    Re: Thomas Cook

    Thomas Cook Northern Europe (Scandinavia) also back up-and-running due to bridging loan whilst looking for buyer.

  21. #111

    Re: Thomas Cook

    Quote Originally Posted by Baloo View Post
    Thomas Cook Northern Europe (Scandinavia) also back up-and-running due to bridging loan whilst looking for buyer.
    Impossible, it is not allowed.
    I wish these countries would check on this message board before they go ahead and do things like this, it would save them a lot of embarrassment in the long run

  22. #112

    Re: Thomas Cook

    Quote Originally Posted by Rjk View Post
    Impossible, it is not allowed.
    I wish these countries would check on this message board before they go ahead and do things like this, it would save them a lot of embarrassment in the long run
    Who repays the bridging loan?

  23. #113

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    Who repays the bridging loan?
    The company

  24. #114

    Re: Thomas Cook

    Quote Originally Posted by Croesy Blue View Post
    The company
    unless they cannot afford to / go bankrupt

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