BS Thomas Cook in Liquidation 22 Sep 2019

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Jim Carroll
Date: 25 Sep 19 - 11:46 AM

"I wish I had had a job that paid eight million quid"
If overpayment was an issue we would have lost far mor businesses that Thomas Cook Al
Amazing how these issues anly become issues when Brexi is involved
Jim

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Big Al Whittle
Date: 25 Sep 19 - 11:12 AM

I wish I had had a job that paid eight million quid. I'd remain inside the Arab League for that.

In fact one million quid would have been nice.

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Steve Shaw
Date: 25 Sep 19 - 09:54 AM

Yebbut climate change is brexit's fault, as we all know!

I notice that the bus-building company that made the Boris brexit bus has gone into administration. Now let me think...

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Rain Dog
Date: 25 Sep 19 - 09:46 AM

Blame Brexit for burnt teacakes? No way. Surely that is down to climate change Steve?

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Steve Shaw
Date: 25 Sep 19 - 09:36 AM

I want to blame brexit for everything that brexit can be blamed for, which is quite a lot. But I'm not going to dilute my argument by clutching at straws and jumping on bandwagons. If brexit has helped to nobble Thomas Cook, it's played a very small part only. Thomas Cook appears to have been badly run for many years and with its huge number of high street shops it's been looking like a high street dinosaur for ages. Jet2, one of its biggest and most successful competitors, hasn't got a single shop. As they say over the water, go figure.

Raindog, brexit was definitely to blame when my toasted teacakes got burnt yesterday. Don't try to deny it!

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Jim Carroll
Date: 25 Sep 19 - 08:18 AM

"you are simply wrong Jim. "
Don't think so RD - Brexit has made the future of too many businesses to show
From the Guardian
"Brexit
“There is now little doubt that the Brexit process has led many UK customers to delay their holiday plans for this summer,” said the chief executive, Peter Fankhauser, in May. That account chimed with rivals’ and it is possible that uncertainty around the latest Brexit deadline of 31 October infected the banks’ mood. So, yes, one can say Brexit helped to push an already teetering Thomas Cook closer to the edge."
It goes on to say that this isn't the whole story, but it certainly played a major part
BRANSON'S SUMMARY OF THE EFFEXTS OF BREXIT
Denying the inevitable effects on the future of these companies is flying in the face of reason and letting Brexit off the hook
Sorry - I quite often find myself agreeing with you - not this time
Jim Carroll

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Rain Dog
Date: 25 Sep 19 - 07:50 AM

With regards to Thomas Cook you are simply wrong Jim. Trying to service huge debts while having virtually no assets to speak of, will probably turn out to be the main reason for their failure. Try and keep to the facts. There is just so much 'useless noise' with regards to Brexit on this board.

Steve it was raining very hard here this morning. I resisted the temptation to blame Brexit.

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Jim Carroll
Date: 25 Sep 19 - 07:05 AM

"Brexit will have played a small part in it, no doubt, but the problems with Thomas Cook have been going on for a number of years."
As is the case with all industries since the referendum
In May the BBC reported that Brexit was already causing crisis of confidence problems regarding international Travel - Thomas Cook featured as one of those then
That Cook has its own problems does not alter the fact that Brexit has been a major issue in their downfall
BRANSON'S STATEMENT HERE suggests they might not be the last
Denying is this is to totally ignore the other businesses that have gone belly up or pissed off
GO CHECK WITH AN ARCH BREXITEER
OR ANOTHER
THIS CROWD HAVE IT SUSSED
Jim Carroll

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Steve Shaw
Date: 25 Sep 19 - 06:03 AM

If it pisses down when I'm planning a barbecue, that's entirely down to brexit and you know it!

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Rain Dog
Date: 25 Sep 19 - 05:51 AM

Jim Carroll posted "This is down to Brexit and you are making excuses for that fact"

No it is not down to Brexit.

Brexit will have played a small part in it, no doubt, but the problems with Thomas Cook have been going on for a number of years.

In 2011 it seems they had about £2bn of debt. Reports seem to suggest that at the point of collapse they had a debt of £1.6bn. I imagine that the debt amount might well turn out to be a lot bigger once the dust has settled.

You cannot simply blame everything on Brexit.

Subject: RE: BS-Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Big Al Whittle
Date: 25 Sep 19 - 04:46 AM

Apparently the boss was paid 8 million for his expertise that led us to this point.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Jim Carroll
Date: 24 Sep 19 - 08:39 AM

I have little doubt that the rush to blame the victims of Brexit will serve some of its apologists equally as well when they start blaming those who voted for it as the country sinks further into the mire
Thomas Cook is just one in a growing line which sank under the weight of the gross stupidity of this decision
Beats blaming the last Government, which is the standard, kneejerk excuse for failure, I suppose
The "own feet" Britain is going to stand on are sinking into the klarts as each day passes
Jim Carroll

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Steve Shaw
Date: 24 Sep 19 - 08:34 AM

Their money back.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Bonzo3legs
Date: 24 Sep 19 - 08:19 AM

If people must book holidays with such companies, what else can they expect???

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Iains
Date: 24 Sep 19 - 08:15 AM

They would be unhappy campers if they had! Are they not all grounded still?

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: robomatic
Date: 24 Sep 19 - 06:30 AM

Sounds like a solid postmortem will get done in the money trades and business schools. I was wondering if they had purchased any Boeing 737 MAX planes. . .

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Backwoodsman
Date: 24 Sep 19 - 06:16 AM

Says it all...

The Magic Money Tree was shaken for thr greedy, reckless bankers too - to the tune of £800 billion. Iceland jailed their greedy, reckless bankers. Just sayin’.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Steve Shaw
Date: 24 Sep 19 - 05:24 AM

No government bailout. Correct decision, not just that good money shouldn't be thrown after bad either. When capitalists crow about how we need vast profits "for investment," shareholders sitting on their arses making money for doing nothing, competition making things better, must incentivise the top dogs with huge unearned bonuses blah blah, they seldom focus on these rather embarrassing failures. There are plenty of those. Just walk down any high street for your evidence.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Iains
Date: 24 Sep 19 - 04:21 AM

Like several other tour operators Thomas Cook failed to adapt to a changing market. Who goes to a travel agent when the same can be done online ?
Blaming Brexit is a cop out. What should be looked at is the fat cats profiting from a failing business model.
Thomas Cook simply follows on the heels of Monarch who went bust a couple of years ago this year Superbreak and LateRooms announced they had gone into administration.
Thomas Cook has experienced problems for some time, long before the EU Referendum was even announced. Thomas Cook can be said to have faced problems from four fronts - those being financial, social, political and meteorological.


    Weather issues, volcano eruptions and other meteorological events have impacted the bottom line
    The rise of budget airlines and online travel agents have increased competition in the market.
    Social trends have also been changing, with more Britons booking flights and holidays separately, rather than through package holiday providers such as Thomas Cook.
    Thomas Cook has also had to adapt to changing political climates in the UK and around the world - for example, terrorist attacks. .

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Big Al Whittle
Date: 24 Sep 19 - 04:11 AM

The real mystery is what Cook's directors have been paid a bonus for?

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Jim Carroll
Date: 24 Sep 19 - 03:53 AM

"can we blame it on Trump & Brexshit?"
PROPHETIC WORDS IGNORED
Jim Carroll

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: The Sandman
Date: 24 Sep 19 - 03:48 AM

how about this ,who were Cooks Bankers?were the ChinesE involved as providers of capital as well, is there a possibilty of retaliation by the chinesE , for the applalling burning of their flasg in hong kong? if there was cia or mi5 agents causing trouble in hong kong, is it possible that China [as a shareholder?or financial provider then sabotages the company? these are questions.
were the chinese involved as a financial provider or shareholder in Thomas Cook?if so why did they withdraw
Thomas Cook had been proceeding with a £900m rescue package that would result in majority shareholder, the Chinese conglomerate Fosun, taking control of its tour operator arm, as well as a minority stake in its airline in return for £450m of capital. ... Thomas Cook declined to comment. Downing Street declined to comment.
off topic..
can you imagine the furore if the chinese burned the uk flag in london.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Mr Red
Date: 24 Sep 19 - 03:45 AM

can we blame it on Trump & Brexshit?
Or the uncertainty that has followed in their wake?

The answer will be argued over in years to come, but the answer has to be "in part".

The worms are crawling out of the woodwork.

Subject: RE: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: Stilly River Sage
Date: 23 Sep 19 - 09:48 PM

There was quite a long interview on one of the NPR news programs this evening. Marketplace, maybe? If speculators got rich on the demise of this company and all of it's employees and customers, something is very broken. A lot of the practices in the stock market these days were illegal a few decades ago. For a good reason.

Subject: Obit: Thomas Cook in Liquidation 22 Sep 2019
From: robomatic
Date: 23 Sep 19 - 09:37 PM

I have had a little something to do with Thomas Cook in the past. I once did some traveling in Europe with their travelers checks. Otherwise I'm pretty ignorant as to how much of a historical fall is being charted with this news. The present
Thomas Cook Group is majority owned out of Germany. A few years ago the historical Thomas Cook & Son was acquired and became Thomas Cook Group.

It isn't so good to go suddenly and leave a lot of travelers in uncertain conditions while hedge funds are reaping the rewards of their big shorts.

I supposed this is a historical falling of a big name if nothing else.