Thomas Cook

Discussion in 'Off Topic' started by flyer, 19 Sep 2019.

  1. Blue Mist

    Blue Mist

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    So the government do that to 3 airlines, then a cruise ship company and a windfarm or 2, the buses need help as well oh and trains...… where does it stop ? It was a very poorly run company that ran out of money. It is far too simplistic to say keep running TC until everyone is home.
     
  2. SilverFox2

    SilverFox2

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    No matter how good their order book is the fact is they are failing as a business by not making profits.
    The banks recognise this and are calling in their loans before the debt gets bigger and they lose even more money.
    I have no idea where their losses occur but managements job was to make profits not to be busy fools filling ones order books with loss making flights.
    If the market place requires low prices then they should have cut their costs or they are in the wrong sector of business. To expect the banks or the government to cover for their inability to understand their jobs is not the way it works.
     
    Blue Mist and Dubai Blue like this.
  3. jonmcity

    jonmcity

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    Was it poorly run, or was it as in most cases the unacceptable side of capitalism, i.e.
    1-Buy a company with the banks cash
    2-Cut costs thus hurting the operation, to make the company look like EBITDA is soring increasing the asset.
    3-Leverage the company and pocket all the cash.
    4-Sell the company
    5-The company now struggles to pay loans and goes bust.
    6-The tax payer pays.
     
  4. jazzy

    jazzy

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    I noticed the union who wanted the tax payers to put £200 million in , didn't offer to put any of their own cash in
     
  5. jonmcity

    jonmcity

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    We will probably end up paying a lot more in benefits, and costs.
     
  6. Ifwecouldjust.......

    Ifwecouldjust.......

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    Getting everyone home isn't just it tho.... its the additional funds required to shore up ATOL as well so anticipated final cost to taxpayer £600 million
     
  7. Tim of the Oak

    Tim of the Oak

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    I don’t know enough about how Tommy Cook’s business to say if the Government could or couldn’t have done more to help them. I doubt anyone does on here? However, your comment about it’s not the “way it works” is inaccurate. The banks that have pulled the plug on Tommy Cook’s were themselves bailed out by the Government.

    I’m more interested in the staff than political political arguments.
     
  8. jonmcity

    jonmcity

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    + benefits for 9000 people out of work
     
    Ifwecouldjust....... likes this.
  9. jonmcity

    jonmcity

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    Funny how governments can bail out the banks, but no one else.
     
    argyle likes this.
  10. SilverFox2

    SilverFox2

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    Certainly true if the redundant employees are unable to find any other employment.
    Somehow I think the good employees will benefit existing profit making companies.
     

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