Pheonix four - Mandy tries to ban them! What next?
Discussion
So, four blokes undertake management buyout, keep rubbish company afloat for 5 years.
They legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
They legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
johnfm said:
So, four blokes undertake management buyout, keep rubbish company afloat for 5 years.
They legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
Here is a list of what they did wrongThey legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
1. made politicians look stupid (not difficult)
2. umm...errr.
Unfortunately the government understand Rover worker mentality and have played them very well into blaming the directors, not the government and taking attention away from themselves.
Sadly, most former Rover workers will now be voting Labour whilst beating their old Union-issue drums as they see it as a strike for the "working man" that their former bosses have been punished
Sadly, most former Rover workers will now be voting Labour whilst beating their old Union-issue drums as they see it as a strike for the "working man" that their former bosses have been punished
sone said:
So the directors take 40 million away in Rover assets cash etc, all the suppliers and workers get bugger all!. Now it may well be legal but it's certainly not moral.
It may well be not legal if theya) continued trading while knowing the business to be insolvent.
b) extracted cash from the business for themselves that should have been paid to creditors.
The problem here is that the absurd £16m investigation failed to find evidence of criminality, so despite the fact that we all know they behaved reprehensibly and enriched themselves while making little or no effort to save the company, there are no grounds to disqualify them. This is typical Labour playing to the "court of public opinion", just as with Fred Goodwin.
johnfm said:
So, four blokes undertake management buyout, keep rubbish company afloat for 5 years.
They legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
What I can't understand is that when Mandy does something dubious (house financing, expenses etc) he's innocent as a virgin... but typically as a socialist grabs any money, or position and fills his boots; and then has the cheek to pontificate about others who do the same... SHAME ON YOU you labour scumbag....They legally pay themselves loads.
How can they be banned from beinf directors!!
Mandy in idiotic publicity stunt shocka!
What about the thousands of double glazing of companies that phoenix every year!
All these guyts have done is identify an asset rich rubbish business being sold by a distressed seller and buy it for the market price - £10.
http://news.bbc.co.uk/1/hi/business/8250252.stm
And the difference between Rover and the banks was?
With regard to the Vauxhall sham, I heard a bloke on the radio this morning saying all of the job cuts will be in the UK as it's illegal to fire the staff in Germany.
And the difference between Rover and the banks was?
With regard to the Vauxhall sham, I heard a bloke on the radio this morning saying all of the job cuts will be in the UK as it's illegal to fire the staff in Germany.
JagLover said:
sone said:
So the directors take 40 million away in Rover assets cash etc, all the suppliers and workers get bugger all!. Now it may well be legal but it's certainly not moral.
It may well be not legal if theya) continued trading while knowing the business to be insolvent.
b) extracted cash from the business for themselves that should have been paid to creditors.
Felix Dennis's excellent book "How To Get Rich" hammers home the point - the money in your company is NOT yours. It belongs to a legal entity that is NOT you.
And, not being an MP, I even check with the accountant when I can put a restaurant meal on expenses.
audidoody said:
JagLover said:
sone said:
So the directors take 40 million away in Rover assets cash etc, all the suppliers and workers get bugger all!. Now it may well be legal but it's certainly not moral.
It may well be not legal if theya) continued trading while knowing the business to be insolvent.
b) extracted cash from the business for themselves that should have been paid to creditors.
Felix Dennis's excellent book "How To Get Rich" hammers home the point - the money in your company is NOT yours. It belongs to a legal entity that is NOT you.
And, not being an MP, I even check with the accountant when I can put a restaurant meal on expenses.
Battenburg Bob said:
A nice diversion from the Governments inept handling of the Vauxhall affair!
I'd go with that too. Swine flue worked for the economy/expenses, now they've dragged Rover up as another smokescreen.
Amazing how Rover suddenly comes into the BBC 'news' just as Vauxhall are about to vanish.
Cynical? Moi?
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