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So the Government is seriously considering bailing out Jaguar, an Indian owned company. This was announced the day that Woolworths confirmed it's closure date and the loss of 217000 jobs!
What, I wonder, is the criteria that the government has adopted for bail outs?
is more relevant.
The criteria should be to preserve manufacturing jobs in this country. We don't have to have a new Jag, a beat up old Skoda will get us from A to B until things get better.
Without doubt the luxury items in this life have got to be the first to be allowed to wither & die.
Pressed post to early.
Jaguar may have to make some less luxurious products in the meantime. They started out with sidecars... I'm not suggesting that they do that again for a moment, but a UK built domestic market car that's reliable hasn't been seen for a while. Is their an opening for that product to be found in the the recession?
There will always be a Phoenix rise from every disaster.
There, there, wrong there, I know.
It's stupidity to bail out a company in trouble. Artificially supporting a non viable company puts a strain on other viable industries, with increased taxes and subsidised competition.
The recession will be much shorter if the government steps back and allows market forces to sort out the problem.
The government should be concentrating on cutting red tape and the new eco rules that plague business nowadays.
The firm I work for has closed early for Christmas, as we have completed the orders for December, which is a first.
But the company is still in good shape, because my boss is prudent, owning the company property and having no loans.
He has always had a strict policy of paying for goods smack on the thirty days. And expects our customers to do the same, or they are placed on pro-forma (doesn't matter who they are).
Most big companies try to delay paying for goods, or services for months, which is why they have got in trouble so quickly. They are already bankrupt and working on other peoples money.
The "Indian Company" Tata has only just bought Jaguar/Land Rover. They would have inspected the books for due dilligence, and I am suprised that they are asking the British government for assistance as they would have been well aware of the pitfalls ahead..It looks like jumping on the bandwagon to me as they are an extremely rich company.
Still Gordon Brown seems to be throwing money about like a drunken sailor, and saving the world to boot.
Make no mistake we will ALL PAY.
It annoys me. Tata, the owner of Jag/Land Rover probably has more money that the UK Govt, yet he has come, cap in hand, to help pay for the company that he bought!
Will that give licence to other foreign owned companies to come to us for cash?
I bet Tata get what they are asking for as it will be good PR.
It makes me feel sorry for all the people who have lost their jobs from UK owned companies, eg Woolworths.
The Govt have as usual, got it the wrong way round. They should not even be considering. Tat should have got a "sod off!" in response to his request.
Will that last person out please turn off the lites.
The reason for the bail out lies in the second brand - Land Rover.
They're working on a new military vehicle and need the cash for R & D...
"They are already bankrupt and working on other peoples money."
If there could be one single benefit emerge from this recession, I would like to see it enshrined in law that goods and services must be paid for on 30 day terms.
In the next few months there will be a lot of business casualties, and a lot of them will go under as others in the payment chain slow down and extend their terms without consent, strangling those in the chain that lose their cash flow through the actions of others.
There all traders that are still trading now, knowing full well that they are just putting off the obvious, and in the meantime will drag more hard pressed companies down in their attempt to keep their heads buried in the sand pretending it will be OK in the end.
If possible, securing business with a local authority means you'll get paid and quickly. My county council, Staffordshire, aim to pay supplier's invoices by the 14th day of the date of the invoice.
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