RBS Funds Kraft

  morddwyd 09:21 21 Jan 10
Locked

According to many reports, one here

click here

RBS, owned by the taxpayer, is funding the Kraft takeover of Cadbury, already forecast to cost jobs.

I shall never understand big business as long as I live.

  johndrew 10:14 21 Jan 10

My feelings are made here click here

  GANDALF <|:-)> 10:44 21 Jan 10

Kraft are purely motivated by the bottom line on their balance sheet (which is a good way to run a company) whilst Cadbury's adopted the same attitude but more paternally and have been reluctant to send production abroad to Eastern Europe etc.. In spite of everything that Kraft has spouted to gain ownership of Cadbury's (for which they paid over the odds) they will need to pay back a huge loan and I will publicly state here that there will be many Cadbury job losses in the UK during the next few years as production is transferral abroad and it is not as if Kraft have no track record in this (. If/when this does happen the irony of RBS (funded by the UK taxpayer) lending Kraft the money, will not escape me.

'Kraft have also promised to keep a facility open that Cabbury's was due to close, so I'd say this is a good deal all round'..(form a previous thread)....if you believe that you will believe that the moon is made from green cheese. The Keynsham facility, which I know well, is a bit of an anachronism and does not fit into Kraft's philosophy in any shape or form. Kraft know that the Keynsham's production would be much, much cheaper in the Czech Rebulic or in Poland.

Incidentally, have we any British-owned manufacturing companies left to sell?

G

  michaelw 11:04 21 Jan 10

What annoys me is that countries like Switzerland can take over companies in other countries but no one is allowed to do the same to them.

  Quickbeam 11:24 21 Jan 10

So much for the philanthropist ideals of Bournville.
Gimme gimme gimme...

  john bunyan 16:55 21 Jan 10

We all regret this take over but the UK is a major investor in US companies, too - eg Unilever took over Ben and Jerry's Ice cream and Bestfoods, and in the captalist "free economy" we live in , it is very difficult to prevent such mergers.

  shellship 17:45 21 Jan 10

Another article today stated that foreign takeovers by British companies over the past few years have exceeded foreign purchases of British companies. Sauce for goose?

  jakimo 19:01 21 Jan 10

GANDALF <|:-)> is probably right in what he thinks lies ahead for Cadbury`s,the shareholders take their quick buck,and another great British company most were proud of joins the plasticated American food chain.

Anyone tried Toblerone???

  OTT_B 19:14 21 Jan 10

Just to play devils advocate; does it really matter which 'country' owns a company?

I can understand that people care about where the manufacturing takes place, but it doesn't matter whether the company is American, British, German or Polynesian, almost all companies are shifting manufacturing to the lowest cost country.

  morddwyd 19:43 21 Jan 10

Doesn't bother me which country owns it.

What bothers me is that I, a taxpayer and therefore a major shareholder in RBS, am financing a huge US company like Kraft.

Why can't the American taxpayer fund this deal (because they've got more sense that's why)?

  wee eddie 11:58 28 Jan 10

of whom only 4,500 are employed in the UK. The rest are elsewhere in the world.

On that basis, Cadburys is only nominally British and is, in reality, an International Company.

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