Quote:
Originally Posted by jfman
It was hardly badly run, it ran up huge debts while handing out money right left and centre to shareholders and directors. All profiting from mergers and acquisitions along the way. That's what a company is run for, is it not? Squeezing money out for shareholders.
|
Like I said badly run.
Many ways to grow a business, one is organically over time slow and steady. Another is to leverage you business borrow against it and buy another suitable business instantly increasing your consumer base but crucially also your overhead. You have to cut your overhead as quickly as possible through rationalising your back office, your systems and your people.
If you don’t do that you’ve achieved nothing. They made acquisitions and failed to rationalise, increased their debt, been done a thousand times before. Therefore Badly run.
Jet 2, Tui, Virgin, and a host of other operators will fill the void. I agree the long termers with substantial pensions and who may have hoped one day for pay out at the end of their time are big losers.
---------- Post added at 18:43 ---------- Previous post was at 18:42 ----------
Quote:
Originally Posted by jfman
That's capitalism Den, as long as you're not the one left holding the baby them the job is a good one. Creditors and Government will take the hit, partially cover the pension scheme, etc.
|
Perhaps we should nationalise the tourism industry?
A ministry of joy? I believe Hitler had one of them, and was a socialist too!