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Thomas Cook about to tank
https://www.beexcellenttoeachother.com/forum/viewtopic.php?f=3&t=8074		 Page 2 of 2
Author:  MrChris [ Tue Nov 22, 2011 13:21 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
Mr Kissyfur wrote:
Really? Who's doing that then? All the middle class people I know are swapping to UK vacations, many of them (including us) going camping for much of the year's holibobs, with a week at a cottage as the "big" holiday.
I dunno. But I have access to sales for the UK's biggest ecommerce travel site and you're asking your mates, so I know who's data I put more faith in ;)


I wasn't questioning the validity of your statement, you gnomic little leek muncher, I was asking quite literally "who is doing that then"? As in what demographic?

Quote:
The domestic holiday thing is a factor, sure. It even has a horrible jargon term for it -- "staycation".


We do not say that word.

Quote:
But the whole industry braced for a total collapse in 2008 and instead we got a slump. A few smaller guys went under but the bigger firms have been getting buy alright (Cooks ecommerce business had (by a wide margin) its biggest peak trading season ever last year).


Interesting, that. You hear a lot about people not going abroad, but clearly it isn't happening to anything like the degree the media had been suggesting, up until this summer even, that it had been.
Author:  ApplePieOfDestiny [ Tue Nov 22, 2011 13:23 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
A few smaller guys went under but the bigger firms have been getting buy alright (Cooks ecommerce business had (by a wide margin) its biggest peak trading season ever last year).

In recent memory, I don't think I've ever heard of a travel company going bust that I had actually heard of before the news.
Author:  Cras [ Tue Nov 22, 2011 13:26 ]
Post subject:  Re: Thomas Cook about to tank
Mr Kissyfur wrote:
Really? Who's doing that then? All the middle class people I know are swapping to UK vacations, many of them (including us) going camping for much of the year's holibobs, with a week at a cottage as the "big" holiday.

Then again everyone we know has kids.


You wouldn't understand.
Author:  myp [ Tue Nov 22, 2011 13:27 ]
Post subject:  Re: Thomas Cook about to tank
Craster wrote:
Mr Kissyfur wrote:
Really? Who's doing that then? All the middle class people I know are swapping to UK vacations, many of them (including us) going camping for much of the year's holibobs, with a week at a cottage as the "big" holiday.

Then again everyone we know has kids.


You wouldn't understand.

DINK-5!
Author:  MrChris [ Tue Nov 22, 2011 13:29 ]
Post subject:  Re: Thomas Cook about to tank
Craster wrote:
Mr Kissyfur wrote:
Really? Who's doing that then? All the middle class people I know are swapping to UK vacations, many of them (including us) going camping for much of the year's holibobs, with a week at a cottage as the "big" holiday.

Then again everyone we know has kids.


You wouldn't understand.

Heh.

You're aware, of course, that we used to not have kids?
Author:  Cras [ Tue Nov 22, 2011 15:16 ]
Post subject:  Re: Thomas Cook about to tank
I remember. Do you?

:kiss:
Author:  Doctor Glyndwr [ Tue Nov 22, 2011 17:14 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
kalmar wrote:
How likely is the government to bail out Thomas Cook?
Zero.
Wait, non-zero. I forgot how ATOL and the Air Travel Trust works. It holds a certain amount of the insurance money in the form of bonds that holiday firms have to buy to get an ATOL licence, but that sum isn't guaranteed to cover all the losses if someone huge goes under. Any shortfalls end up being met by the government.

Apparently, measured from last June, Thomas Cooks' share price has fallen by 93%.

Quote:
Thomas Cook finance director Paul Hollingworth said the group was looking to borrow around £100m to tide it over during December, when trading is traditionally quiet, and give it sufficient headroom to be in no danger of breaching banking covenants. That is in addition to the £100m short-term credit line that Thomas Cook agreed with its banks following talks in October.
It's bloody awful that they are having to go back to the banks less than a month after last asking for loans.

Also:
Quote:
About 200 retail stores are expected to close and six aircraft sold off to help the company withstand the enormous headwinds.


Worth pointing out that its previous chief exec, Manny Fontenla-Novoa, was abruptly sacked in August following the company issuing the third profit warning of the year.

Finally, if you have any oustanding Thomas Cook bookings, this is a good guide as to what might happen if the company goes under.
Author:  kalmar [ Tue Nov 22, 2011 17:17 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
six aircraft sold off to help the company withstand the enormous headwinds.



Now I'm no aeronautical engineer, but...
Author:  Goddess Jasmine [ Tue Nov 22, 2011 17:17 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
Manny Fontenla-Novoa

That's never a real name! You just made that up didn't you???
Author:  Goddess Jasmine [ Tue Nov 22, 2011 17:18 ]
Post subject:  Re: Thomas Cook about to tank
kalmar wrote:
Doctor Glyndwr wrote:
six aircraft sold off to help the company withstand the enormous headwinds.



Now I'm no aeronautical engineer, but...

:D
Author:  Doctor Glyndwr [ Tue Nov 22, 2011 17:19 ]
Post subject:  Re: Thomas Cook about to tank
Goddess Jasmine wrote:
Doctor Glyndwr wrote:
Manny Fontenla-Novoa

That's never a real name! You just made that up didn't you???
Nope. I've never met him, but I've passed him in the corridor a few times. He's just as colourful a chap as his name suggests apparently.
Author:  kalmar [ Tue Nov 22, 2011 17:20 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
Goddess Jasmine wrote:
Doctor Glyndwr wrote:
Manny Fontenla-Novoa

That's never a real name! You just made that up didn't you???
Nope. I've never met him, but I've passed him in the corridor a few times. He's just as colourful a chap as his name suggests apparently.


Image
Author:  Goddess Jasmine [ Tue Nov 22, 2011 17:26 ]
Post subject:  Re: Thomas Cook about to tank
Doctor Glyndwr wrote:
Goddess Jasmine wrote:
Doctor Glyndwr wrote:
Manny Fontenla-Novoa

That's never a real name! You just made that up didn't you???
Nope. I've never met him, but I've passed him in the corridor a few times. He's just as colourful a chap as his name suggests apparently.

Brilliant! I suspect you'd have to be to carry that off in this country though. :D
Author:  Goddess Jasmine [ Tue Nov 22, 2011 17:26 ]
Post subject:  Re: Thomas Cook about to tank
kalmar wrote:
Doctor Glyndwr wrote:
Goddess Jasmine wrote:
Doctor Glyndwr wrote:
Manny Fontenla-Novoa

That's never a real name! You just made that up didn't you???
Nope. I've never met him, but I've passed him in the corridor a few times. He's just as colourful a chap as his name suggests apparently.


Image

L-LOL :DD
Author:  Zardoz [ Tue Nov 22, 2011 17:39 ]
Post subject:  Re: Thomas Cook about to tank
He got £1m when he was 'sacked' too.
Author:  BikNorton [ Tue Nov 22, 2011 17:49 ]
Post subject:  Re: Thomas Cook about to tank
Quote:
About 200 retail stores are expected to close and six aircraft sold off to help the company withstand the enormous headwinds.
I've re-read that half a dozen times and still read
Quote:
six aircraft carriers
Author:  Doctor Glyndwr [ Tue Nov 22, 2011 18:15 ]
Post subject:  Re: Thomas Cook about to tank
http://www.guardian.co.uk/business/nils ... sfeed=true

Quote:
Debt crises are doubly dangerous for travel companies when they affect bookings. Thomas Cook needs the banks to choose that "rational and right" option and do it quickly and loudly to restore confidence. The lenders number 17, which doesn't make the task simple.


Quote:
Restructuring would have been better conducted years ago, rather than in the midst of the current crisis. Manny Fontenla-Novoa, jettisoned as chief executive in August, was the chap who had the chance to steer a different course. Lest we forget, he earned £14.5m over four years in pay and bonuses – another excellent advert for putting claw-back provisions in directors' contracts.
Author:  markh [ Tue Nov 22, 2011 18:26 ]
Post subject:  Re: Thomas Cook about to tank
Having been involved in some of these multi bank deals it can be a bit dangerous to think the 'bank has to help them'. I bet some of those risk analyst scoundrels with the smallest exposures are wondering how quickly they can get out of there and leave the rest holding the baby...
Author:  LewieP [ Wed Nov 23, 2011 11:20 ]
Post subject:  Re: Thomas Cook about to tank
GAME Group shares drop 57 per cent in five days following reduced sales forecasts.
Author:  myp [ Wed Nov 23, 2011 11:56 ]
Post subject:  Re: Thomas Cook about to tank
LewieP wrote:
GAME Group shares drop 57 per cent in five days following reduced sales forecasts.

I have a holiday booked with them. :(
Author:  zaphod79 [ Wed Nov 23, 2011 12:01 ]
Post subject:  Re: Thomas Cook about to tank
myp it wrote:
LewieP wrote:
GAME Group shares drop 57 per cent in five days following reduced sales forecasts.

I have a holiday booked with them. :(


Is it in Skyrim ?

As others have pointed out , after the launch of BF3 as the biggest Battlefield launch ever , the launch of MW3 as the biggest entertainment launch of anything ever and the launch of Skyrim (biggest launch of a game called Skyrim ever) if Game cant make money off that then they are probably doing something wrong ?
Author:  kalmar [ Wed Nov 23, 2011 12:01 ]
Post subject:  Re: Thomas Cook about to tank
COOKTANK REQUEST
Author:  Zardoz [ Wed Nov 23, 2011 12:18 ]
Post subject:  Re: Thomas Cook about to tank
.
Author:  Grim... [ Wed Nov 23, 2011 13:05 ]
Post subject:  Re: Thomas Cook about to tank
Craster wrote:
I remember. Do you?

:kiss:

Someone POTW this - I'm on the mobile site.
Author:  Doctor Glyndwr [ Wed Nov 23, 2011 13:58 ]
Post subject:  Re: Thomas Cook about to tank
I am amused that TC paid for CookTank.jpg.
Author:  Zardoz [ Wed Nov 23, 2011 14:05 ]
Post subject:  Re: Thomas Cook about to tank
I WAS ON A BREAK!
Author:  kalmar [ Wed Nov 23, 2011 14:05 ]
Post subject:  Re: Thomas Cook about to tank
Hahaha, good point!
Author:  pupil [ Sat Nov 26, 2011 12:22 ]
Post subject:  Re: Thomas Cook about to tank
http://www.guardian.co.uk/business/2011 ... with-banks

Good news for Gaywood and Zardizzle! Hope things don't get screwed for you guys and this makes work secure.
Author:  Zardoz [ Sun Nov 27, 2011 22:23 ]
Post subject:  Re: Thomas Cook about to tank
Cheers our kid, yeah share prices were rising again on Friday too.
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