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Thread: Thomas Cook

  1. #51

    Re: Thomas Cook

    Quote Originally Posted by lardy View Post
    I think by now we know who wants brexit and who doesn't. And particularly who does and doesn't want no deal. I honestly can't see where underhand comes into it.
    The Lib Dem’s are the only party who have come out and said exactly where they stand.
    Labour don’t know whether it’s September, Christmas or pancake day.

  2. #52

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    The Lib Dem’s are the only party who have come out and said exactly where they stand.
    Labour don’t know whether it’s September, Christmas or pancake day.
    You won't find me defending Labour, but by and large you know how their MPs would place their individual brexit vote (and I think Corbyn doesn't do the whip on those votes any more).

  3. #53

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    The Lib Dem’s are the only party who have come out and said exactly where they stand.
    Labour don’t know whether it’s September, Christmas or pancake day.
    If you named a labour MP I could tell you whether they are leave or remain. Labour's policy has been pretty clear for a while now, they want no deal brexit off the table and want the brexit date to be pushed back, they then want a general election and one of their policies will be a new referendum, they will negotiate a new deal and put new deal vs remain on the ballot.

    The Libdems simply want to revoke Article 50.

  4. #54

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    Of course it hasn’t kicked in yet. We’ve not even left yet. We.may not even leave? We may leave with a deal?
    Its all speculation at the moment, but the CCMB’ remain chariot is racing ahead full pelt with the likes of you and Eric the half Bee sat up front whipping the horses into a frenzy.
    Can you please come and explain that 150 people we've made redundant and the other 400+ who will be made redundant over the next 36 months! Plus hundreds more in our supply chain.

    Our new factory is now under construction in Eastern Europe and all of our contracts will transfer by 2023. We export around 75% of our product to German & French automotive companies, their contracts are now have a clause stipulating the product must be made within the EU. The message was/is very clear, if you want to retain their business then transfer manufacturing to within the EU. No "uncertainty" decision made.

    I have the unpleasant job of of winding down the profitable UK facility and managing the creation of the EE facility.

  5. #55

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    The Lib Dem’s are the only party who have come out and said exactly where they stand.
    Labour don’t know whether it’s September, Christmas or pancake day.
    Labour don't want to alienate the 17.4 million people who voted to leave, many of them traditional Labour voters from areas that have been failed by politicians and have seen their livelihoods sold off or closed down because it just wasn't cost effective-The question as always, Cost effective for who?

    Corbyn is a real left alternative, he understands that alot of the working class people who voted to leave aren't simply uneducated, racist or ignorant, they've just had enough, and when offerred the opportunity to 'protest' through the ballot box plenty of them took the opportunity. This mess is down to the political and business elite. As for the EU, i did vote to stay in it but i'm no fan of it and it's failed Neo-liberal policies.

  6. #56

    Re: Thomas Cook

    Quote Originally Posted by Des Parrot View Post
    Can you please come and explain that 150 people we've made redundant and the other 400+ who will be made redundant over the next 36 months! Plus hundreds more in our supply chain.

    Our new factory is now under construction in Eastern Europe and all of our contracts will transfer by 2023. We export around 75% of our product to German & French automotive companies, their contracts are now have a clause stipulating the product must be made within the EU. The message was/is very clear, if you want to retain their business then transfer manufacturing to within the EU. No "uncertainty" decision made.

    I have the unpleasant job of of winding down the profitable UK facility and managing the creation of the EE facility.
    What you are basically admitting there, is the EU has become a tyranny, that ties up countries for life once they join. Any that have the audacity to want to leave and be a bit more independent, must face dire consequences.
    That is not the fault of folk like me who voted to leave, and still want to leave.
    What happens to the workers you’ve already made redundant and the UK factory your about to close, if Brexit gets stalled again and is eventually stopped.?

  7. #57

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    What you are basically admitting there, is the EU has become a tyranny, that ties up countries for life once they join. Any that have the audacity to want to leave and be a bit more independent, must face dire consequences.
    That is not the fault of folk like me who voted to leave, and still want to leave.
    What happens to the workers you’ve already made redundant and the UK factory your about to close, if Brexit gets stalled again and is eventually stopped.?
    Are you suggesting that the EU inserted that clause into a contract between third parties?

  8. #58

    Re: Thomas Cook

    Quote Originally Posted by Optimistic Nick View Post
    Are you suggesting that the EU inserted that clause into a contract between third parties?
    No.

  9. #59

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    No.
    Seems a bizarre example of their tyranny then.

  10. #60

    Re: Thomas Cook

    Quote Originally Posted by Optimistic Nick View Post
    Are you suggesting that the EU inserted that clause into a contract between third parties?
    No. But it would be interesting to find out when the clause was first introduced into the contract.

  11. #61

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    No. But it would be interesting to find out when the clause was first introduced into the contract.
    Why? Is there something tyrannical about a company seeking to ensure the viability and cost of its supply chain?

  12. #62

    Re: Thomas Cook

    Quote Originally Posted by Optimistic Nick View Post
    Why? Is there something tyrannical about a company seeking to ensure the viability and cost of its supply chain?
    No. But it tells you that, as I said, leaving the EU is not without its penalties. Shouldn’t be that way.

  13. #63

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    No. But it tells you that, as I said, leaving the EU is not without its penalties. Shouldn’t be that way.
    It’s a trading bloc, it isn’t a penalty it’s just more difficult to trade from outside the trading bloc.

    It’s like complaining about being less wet once you’re out of a swimming pool and blaming the swimming pool for having a monopoly on water.

  14. #64

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    No. But it tells you that, as I said, leaving the EU is not without its penalties. Shouldn’t be that way.
    What is the penalty? There are benefits to being in the EU. If you leave, you lose the benefits. Hardly a penalty.

  15. #65

    Re: Thomas Cook

    Quote Originally Posted by Optimistic Nick View Post
    I don't think we are disagreeing as regards Woolworths. But that doesn't mean that the financial crisis was to blame for the inevitable failure of that company.

    And I don't think that Brexit is to blame for the mess Thomas Cook is in. It was a bricks and mortar travel agent ffs, wedded to the high street travel agent model in a world moving quickly towards online, in the same way that Kodak was wedded to film in a world adopting digital photography. Brexit would likely have had some impact on short-term cashflow as people put off booking holidays, but they must have had one foot over the edge of the cliff already for this to have happened. What got them to the cliff was an antiquated businesss model and a mountain of debt.

    That the loss of 9k jobs is unhelpful for the economy is undeniably true but entirely irrelevant to the point you are making (i.e. that Brexit is to blame).

    One point on "Brexit has not happened yet" that others have made: it hasn't, but businesses are doing lots in preparation and it creates huge uncertainty. Just look at Thomas Cook - a tiny example of some of the detail tehy will have had to consider: You buy a package holiday to France for summer 2020. In pricing the package, what APD cost do you think they build in for the flight back from France? Because they won't know what APD they will actually have to pay over at the point the flight departs, as it will depend on whether the UK is in the EU or not; whether it has a transitional agreement or not etc etc.
    I’m not saying it’s solely to blame, but it’s the straw that broke the camel’s back, like with Woolworths.
    So without Brexit, it might well have survived long enough to transform itself for modern times.

  16. #66

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    You are getting so paranoid about brexit that it seems to be self consuming. I always thought you came across as an intelligent poster on here, but the fact you opened up a rugby thread earlier in the week, that clearly stated not to bother, if you didn’t like the game, just to tell us once again (Zzzzzzzz), that you wouldn’t waste a second of your time watching it, seems to have dispelled that thought.
    Fair play, you yet again fail to debate the point I make, preferring only a character assassination.

  17. #67

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    What happens to the workers you’ve already made redundant and the UK factory your about to close, if Brexit gets stalled again and is eventually stopped.?
    All existing contracts will remain in UK until end of life, last one 2023, all replacement contracts starting in 2022 commence in EE. The factory will now close regardless of whatever the future Brexit course takes.

    We moved the major contract from Japan to UK in 2017 due to the "must be made in EU clause", we now have to move that into an EU country.

    It's soul destroying, I spent the last 18 years pulling in manufacturing contracts from Czech, Hungary, Thailand, China, Japan & Mexico, quadrupled the size of the business, employed 300 extra staff and it will all be gone in a few years time.

  18. #68

    Re: Thomas Cook

    Quote Originally Posted by The Hooded Claw View Post
    I’m not saying it’s solely to blame, but it’s the straw that broke the camel’s back, like with Woolworths.
    So without Brexit, it might well have survived long enough to transform itself for modern times.
    Nope, I disagree and I think you are completely wrong.

    I think you over-estimate the ability of management teams who proved to be failures; the drag that massive (rising) rental costs have on retailers with declining revenues; and the weight that a massive debt puts on a company's balance sheet.

    There will always be a straw that breaks the camel's back but that doesn't add any credence to the argument that Brexit caused an outdated, poorly run travel agent to go bust because it simply didn't. I think you are suggesting that people held off booking foreign holidays; and/or fewer foreign holidays were booked, because of the devaluation of Sterling and/or tightening of discretionary spend by UK consumers in light of general Brexit uncertainty. That may have some impact on immediate cashflow and possibly turnover, but other companies I can think of are significantly increasing their package holiday offering so clearly there is confidence out there that Brits still want and will pay for their foreign trips, it's just that they don't want to do that with Thomas Cook any more. When you last thought of booking a flight or a holiday, did you think to yourself "I'd better pop into town to speak to Thomas Cook"? And even if you did, what do you think that the 18-30 year olds do when they want to book a holiday?

    There is a place for travel agents, but mid-market is not it. It's not fair to blame Brexit for this one.

  19. #69

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    No. But it tells you that, as I said, leaving the EU is not without its penalties. Shouldn’t be that way.
    The company decided to put the EU clause in. Presumably because it helped them in some way and being in the EU is 'better'.

    You appear to be saying that we shouldn't have a situation where one place is better than the other, but because we do then we should leave the better place.

  20. #70

    Re: Thomas Cook

    Quote Originally Posted by Des Parrot View Post
    All existing contracts will remain in UK until end of life, last one 2023, all replacement contracts starting in 2022 commence in EE. The factory will now close regardless of whatever the future Brexit course takes.

    We moved the major contract from Japan to UK in 2017 due to the "must be made in EU clause", we now have to move that into an EU country.

    It's soul destroying, I spent the last 18 years pulling in manufacturing contracts from Czech, Hungary, Thailand, China, Japan & Mexico, quadrupled the size of the business, employed 300 extra staff and it will all be gone in a few years time.
    If you don’t mind me asking, who put the “must be made in the EU” clause in ?, and how many workers in Japan lost their jobs?
    Also, how much has the EU subsidised the company to build a factory in EE ?

  21. #71

    Re: Thomas Cook

    Quote Originally Posted by lardy View Post
    The company decided to put the EU clause in. Presumably because it helped them in some way and being in the EU is 'better'.

    You appear to be saying that we shouldn't have a situation where one place is better than the other, but because we do then we should leave the better place.
    It may appear to you that that is what I’m saying, but actually what I’m saying is that the EU is like the worse kind of loan shark out there.
    Come and tie yourself up in knots with us, doesn’t matter if your up to your balls in debt, and it will be all candy floss and marshmallows.
    That is until the day you actually have the audacity to want to leave!!

  22. #72

    Re: Thomas Cook

    On a football related note, tough times ahead for Wolves?

    https://www.dailymail.co.uk/sport/sp...ky-escape.html

  23. #73

    Re: Thomas Cook

    Quote Originally Posted by William Treseder View Post
    If you don’t mind me asking, who put the “must be made in the EU” clause in ?, and how many workers in Japan lost their jobs?
    Also, how much has the EU subsidised the company to build a factory in EE ?
    One of the major German automotive companies.

    I don’t know the exact number as they were able to backfill with a new Japanese contract, whereas we’re unable to do that.

    We have received zero from the EU to build on EE. We’ve obviously gone through a competitive tendering process and the decision was made on a multitude of criteria but we’ve not asked for or received any EU money.

  24. #74

    Re: Thomas Cook

    Quote Originally Posted by The Hooded Claw View Post
    I’m not saying it’s solely to blame, but it’s the straw that broke the camel’s back, like with Woolworths.
    So without Brexit, it might well have survived long enough to transform itself for modern times.
    Having a quick look of TCG a few months ago and losing out after buying shares, I would say they were always destined to fail when their assets weren’t worth what they thought.

    They are just a brand and put too high a value on something intangible. The debts would have never been cleared.

  25. #75

    Re: Thomas Cook

    Quote Originally Posted by the other bob wilson View Post
    On a football related note, tough times ahead for Wolves?

    https://www.dailymail.co.uk/sport/sp...ky-escape.html
    Every cloud

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