Reply to: Comet plummets

[eek]

This is the sharp end of the issue for Comet - suppliers started asking for payment up front for goods == cashflow problems == corporate death.

There is only 1 real rule for business:-

Turnover Is Vanity
Profit Is Sanity
Cashflow Is Reality

Cashflow can kill any business even profitable ones.

[doomage]

They never hold any stock in my experience.

This is the sharp end of the issue for Comet - suppliers started asking for payment up front for goods == cashflow problems == corporate death.

[The Spartan]

Ok I'll try the Goods of Sale act line and see how it is received

[escapeUK]

Just a thought - now Comet are going into admin, will they be selling off their products cheaply ?

They never hold any stock in my experience.

[kaiser78]

Just a thought - now Comet are going into admin, will they be selling off their products cheaply ?

[bless 'em all]

Who needs a warranty when you get automatic cover when paying with your credit card these days

Who needs a warranty when the Sales of Goods Act state:

The quality of the goods sold must be satisfactory (prior to 1994, this provision required 'merchantable' quality; this requirement has been retained in most Commonwealth versions of the Act). The Act provides an objective test to determine satisfactory quality; the standard that a reasonable person would regard as satisfactory, taking into account the price, description and any other relevant factors.

So if you buy a dishwasher would you 'reasonably' expect it break down after just one year? No? Sales of Goods Act covers you.

It doesn't matter what some little t**t in a polyester shop uniform says about 'store policy' or a manufacturers warranty of a year.

They know it too, but hope you don't.

[vetran]

I never mentioned anything about politics, your arguments are trite and based on sloppy data. touche :P

Manufacturing is going to decline when you destroy it, you can't simply put it back.
Services were the promised land when these decisions were rashly made, so they are going to grow too.

Maybe this

What did the left have to do with the systematic destruction of industry

haven't seen any data from you. Just sweeping accusations that manufacturing was destroyed but not by the left. On previous discussions you have attacked the conservatives and especially Maggie without being able to substantiate it with data. 'pas de touché'

Manufacturing was destroyed because when the game changed all governments failed to help it restructure.
We have some of the most productive car plants in the world we could have more manufacturing like Germany if we had supported restructuring.

But we always hear that Maggie & co destroyed the pits, this is not true.
Arthur Scargill and his rent a mob did that along with the coal board since the war.
Maggie just put it out of its misery as we couldn't afford to subsidise it any more if 'the sick man of Europe' was going to recover.

Services are paying the bills, most manufacturers are doing a Starbucks because they are part of Global conglomerates that repatriate their profits to tax havens. or are so badly run they are either losing money or incapable of automating so they go to cheap overseas manufacture.


And manufacturing can be put back you just need the will.

Nissan car plant in Sunderland breaks UK record - Telegraph

Nissan was the first Japanese car manufacturer to open facilities in the UK when it arrived in 1986.

Nissan to open £200m UK car plant - Telegraph

Nissan, the Japanese car maker, is to invest more than £200m into the North East of England as part of plans to manufacture batteries for electric cars.

The Government has agreed to support Nissan's venture, probably through loans and grants via the £2.3bn Automotive Assistance Programme (AAP), although the size of support is unclear. A spokesman said talks were ongoing.

but this is why they go away

Dyson, champion of British industry, switches production to far east | Business | The Guardian

He said the fact that Britain remained outside the euro was only "a relatively small factor" in the decision. The driving force was the much lower labour and production costs in the far east and the fact that the company's suppliers were increasingly based in the region.

Dyson believes the move will enable it to cut production costs by around 30% and plans to plough the resulting savings back into research and development in Britain in a drive to continue to develop new technology products. The company, which chalked up sales of more than £220m in 2000, spends around 10% of turnover on new product development.

[Scoobos]

You think it is funny because the objects of your envy are being penalised and brought down to your level. so all the chat about caring for the poor" is bo**ocks. If people genuinely believe that the poor need help then people would be encouraged to earn as much as possible in order to increase the tax take which will (supposedly ) be spent "wisely" on redistributing wealth.

Unfortunately people like you and PollyToynbee are motivated more by envy than anything else

Envy of what? and whats "my level" ?

The simple fact is that the government is supposed to be elected to support the populace as a whole, not a small percentage of it.

It may surprise you to know that only 10% of the population live in London, yet most of these economic masterstrokes simply destroy diversity in labour and geographically exclude the majority of the voting public, from this generated "wealth".

I laughed as in my view, its silly to think that the "high earners" in london pay anywhere near the same proportion of their income on tax.

[Scoobos]

"You have a degree in economics and believe modern Labour will create sustainable jobs despite their history of creating taxpayer funded non jobs - now that deserves a few more"
.

I never mentioned anything about politics, your arguments are trite and based on sloppy data. touche :P

Manufacturing is going to decline when you destroy it, you can't simply put it back.
Services were the promised land when these decisions were rashly made, so they are going to grow too.

[DodgyAgent]

You think it is funny because the objects of your envy are being penalised and brought down to your level. so all the chat about caring for the poor" is bo**ocks. If people genuinely believe that the poor need help then people would be encouraged to earn as much as possible in order to increase the tax take which will (supposedly ) be spent "wisely" on redistributing wealth.

Unfortunately people like you and PollyToynbee are motivated more by envy than anything else

[vetran]

who do you think are the 1% paying 25% of the tax take? Clue - Its not the northerners sitting on the Dole while the Eastern Europeans take all the low paying jobs down south.

See the graph that shows services rising at 45 degrees while manufacturing falls at 5 degrees?

A mine used to employ a few hundred people, the same work is done with one machine and 3 operators. Same is true of most factories.
Combine that with manufacturing moving offshore both of which were enabled by computers & better communication systems which exploded in the eighties.
Failure to restrict or balance import costs, invest (not subsidise) manufacturing. Then add Labour unrest and more restrictive labour laws and you can see why we are deep in it.

You have a degree in economics and believe modern Labour will create sustainable jobs despite their history of creating taxpayer funded non jobs - now that deserves a few more




Try analysing the data not feeding your prejudices.

[Scoobos]

what lefties fail to realise is that the well paid jobs in the city feed taxes into the economy.

[gingerjedi]

I include IT people in that. If faced with this what would you do?
you would leave.

what lefties fail to realise is that the well paid jobs in the city feed taxes into the economy.

I've never worked in finance, as a support bod I've seen rates plummet to permy levels and outsourcers don't want permy staff so that's not an option, I'm already there!!

Thank god for the city spivs and their taxes eh!

[DodgyAgent]

I'd like to see that, I must be a lefty.

I include IT people in that. If faced with this what would you do?
you would leave.

what lefties fail to realise is that the well paid jobs in the city feed taxes into the economy.

[DodgyAgent]

HTH. What did the left have to do with the systematic destruction of industry , in the name of the "city" as we put all our eggs into the same basket?

The left had everything to do with the destruction of industry. Protective working practices, working within state controlled monopolies made them uncompetitive to the point where the rest of society had to subsidise them. The dam eventually burst exposing these organisations to market forces and they collapsed because they were no longer able to compete. There are examples of this everywhere from the USA to the Soviet Union