Nigel's plans scuppered? British Steel

#1
Let's hope a solution can be found ASAP.

British Steel has been placed in compulsory liquidation, putting 5,000 jobs at risk and endangering 20,000 in the supply chain.

The move follows a breakdown in rescue talks between the government and the company's owner, Greybull
 
#3
Greybull have quite the record for putting big firms into administration.
 
#4
Greybull were taking 20 million a year out of the company
 
#6
I live in Scunny and feel for those that work there. I wouldn't have done 20 or 30 years ago when some lads were quite proud of the fact that they could go a full 12 hours without lifting a finger or sleeping of the night before. The current workforce have jumped through hoops since TATA rinsed the place. Cost savings running into millions, increased production and a sense of purpose. All for nowt.
 

DaManBugs

LE
Book Reviewer
#8
As if Treesa Maybe give a toss whether the steelworkers and others keep their jobs or not. The total indifference is just dripping from her voice.

But isn't Capitalism wonderful?
Greybull Capital: Story behind firm that bought British Steel for £1
Here's a comical quote from the article:
One of the fundamental rules of capitalism is that businesses must be allowed to fail.
Unless it's a greedy, irresponsible bank, of course.

MsG
 
#10
I live in Scunny and feel for those that work there. I wouldn't have done 20 or 30 years ago when some lads were quite proud of the fact that they could go a full 12 hours without lifting a finger or sleeping of the night before. The current workforce have jumped through hoops since TATA rinsed the place. Cost savings running into millions, increased production and a sense of purpose. All for nowt.
Why is everyone mixing up the companies?
British Steel merged with Corus back in 1997. Tata (India) bought it in 2007 and renamed Tata Steel UK in 2010.
in 2016, Tata sold some of its holdings to Greybull in 2016 and they called the bit they bought British Steel (again).
It's that last bit that has gone into liquidation, not Tata Steel which is still going.
 
#11
My favourite Scunny graffiti and just down the road from his F-I-L's house.
cnt1.jpg
cnt2.jpg
 
#12
Why is everyone mixing up the companies?
British Steel merged with Corus back in 1997. Tata (India) bought it in 2007 and renamed Tata Steel UK in 2010.
in 2016, Tata sold some of its holdings to Greybull in 2016 and they called the bit they bought British Steel (again).
It's that last bit that has gone into liquidation, not Tata Steel which is still going.
Not mixing it up. Corus were shite, TATA raped the company for the knowledge and grants.
 
#13
I've visited about a dozen steelworks over the past 20 years. The two worst were Port Talbot and Scunthorpe.

Both were filthy even by steelworks standards and Scunny was a run-down sh!thole with poor efficiency.

I had the joy of staying in the Premier Inn on the A18 with my room having a *marvellous* view of the steelworks where I was to go the following morning. Were were working for Corus at the time.

Corus were systematically asset stripping the place and moving the best stuff out of the UK, Tata took asset stripping to a new level and the current owners have continued the trend.
 
#14
#16
#17
Can't nationalise them due to eu 'law'.
And where did that little gem come from?
There are loads of nationalised or part nationalised industries in EU which have been agreed with the Commission.
And what about Network Rail?
There are, I agree, lots of things that can't be nationalised due to the fair trade bits built in but nowhere is there a "EU law" against it.
Nigel was picked up for that error after quoting some Professor or other who quoted one regulation but ignored a different one.
Corbyn has recently been picked up on for making the same mistake.
 

seaweed

LE
Book Reviewer
#18
I think liquidation is the right answer. I doubt any taxpayers' loan would ever be repaid, the can would just have been kicked down the road a bit and the Govt asked for more billions. This is what Heath's infamous U-turn brought us - profitable companies being raped for tax to feather-bed lame ducks. One of the key advantages of capitalism is that it reallocates resources so much better than state control does.
 

diverman

LE
Book Reviewer
#19
And where did that little gem come from?
There are loads of nationalised or part nationalised industries in EU which have been agreed with the Commission.
And what about Network Rail?
There are, I agree, lots of things that can't be nationalised due to the fair trade bits built in but nowhere is there a "EU law" against it.
Nigel was picked up for that error after quoting some Professor or other who quoted one regulation but ignored a different one.
Corbyn has recently been picked up on for making the same mistake.
 

diverman

LE
Book Reviewer
#20
Once a compay has been de-nationalised it cannot be re-tionalised under eu law. Mosecontinental companies such as SNCF Air France Deutsch Bahn have nevr been de-nationalised
 

Similar threads


Top