Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: alfie on 23 November 2011, 20:53:18
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With yesterdays news that Thomas Cook travel has had to ask the banks for extra funds,would you chance booking your next holiday with them.
How are the other travel companies doing,How are they handling this down turn in travel,I know that I've not yet booked next years holiday,how about you.
Alfie.
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Shouldnt be a problem booking with them.They are ABTA registered/ bonded so you wont lose your money. ;)
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Yes thats true but,it's takes abta a long time to refund your money,and you lose your holiday that if you'r like me and have to save hard for months to pay for it. I would be unable to just cough up another grand.
Alfie.
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also youve booked the time off work.
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Depends then how soon you need to book.I cant see the present situation lasting much longer.They will be rescued or go down the pan in the next few weeks I would think.My guess would be some sort of rescue package from the banks,but you never can tell these days. ;)
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Share has risen 29% so far today.Tempting,very tempting. :)
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Go on Albs, buy the company. Then asset strip and double your money! High street branches could be sold off to one of the charity shop outfits. :y
alfie you won't be the only person concerned. They may well be just needing bank funds (good luck with that) but it has amazed me that more high street travel agents haven't gone to the wall with the numbers of people booking their own flights, accommodation and so on. You don't have the security of ABTA for the whole package but with travel insurance and airline guarantees you aren't too bad off. I would wait a week or so.
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Go on Albs, buy the company. Then asset strip and double your money! High street branches could be sold off to one of the charity shop outfits. :y
alfie you won't be the only person concerned. They may well be just needing bank funds (good luck with that) but it has amazed me that more high street travel agents haven't gone to the wall with the numbers of people booking their own flights, accommodation and so on. You don't have the security of ABTA for the whole package but with travel insurance and airline guarantees you aren't too bad off. I would wait a week or so.
If you book directly using a debit card, then you can always purchase Airline Failure Insurance to insure your risk. They will refund your ticket costs and some do / don't also insure your other costs like hotels booking fees, transfers etc.
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Go on Albs, buy the company. Then asset strip and double your money! High street branches could be sold off to one of the charity shop outfits. :y
alfie you won't be the only person concerned. They may well be just needing bank funds (good luck with that) but it has amazed me that more high street travel agents haven't gone to the wall with the numbers of people booking their own flights, accommodation and so on. You don't have the security of ABTA for the whole package but with travel insurance and airline guarantees you aren't too bad off. I would wait a week or so.
Why asset strip.Its a great brand which has been very badly managed recently.It has gone on a £500 milion spending spree this year,its cash outgoings are £30 milion per month etc. Its share price 9 months ago was (iirc) over 200p.It needs good management and fast, who need to be able to demonstrate to its bankers that it can be turned around relatively quickly.
No use moaning about its bankers possibly being reluctant to lend it even more money unless you would be willing to ring your bank today and tell them to use the money in your account to purchase X amount of Thomas Cook shares as that is basically what the companies banks will be doing if they lend them more money.If they handed over the money without being confindent the company will survive then they would be guilty of gross irresponsibilty in the handling of the money belonging to their depositors and shareholders. They made that mistake before,by lending people in the U.S. money for mortages they couldnt afford to repay,which triggered the sub prime crisis which caused the credit crunch etc.If they are more reticent now about lending money to high risk borrowers we can hardly complain, can we ? ;)
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And now up 42%. ::)
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The reason they gave for the cash shortfall was the unrest in Tunsia and Egypt, so winter holidays are not being booked. If you think Greece, Spain and Italy as major summer holiday destinations are going to in peak financial form with no civil unrest, then their shares maybe a good bet, if maybe not, then Caveat Emptor. ::)
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yes but albs if you bought the company think how many spare parts you could then have ;D ;D ;D
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The shares were certainly a fantastic short term bet for those brave enough to buy them this morning.Medium term - hard to say imo. ;)
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yes but albs if you bought the company think how many spare parts you could then have ;D ;D ;D
Could export Omega parts in the cargo hold of the planes. :y ;D
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hmm think of all the hanger space waiting to filled up with 'that will come in handy one day' ::) ::)
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Could export Omega parts in the cargo hold of the planes
you could export complete cars ;)
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No money in it. ;D
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As is usual with our appalling media, they are hell bent on trying to sensationalise a non-story in order to make out its a big thing. Its not. Or at least wasn't until the useless crap media (likes of the BBC and the Daily Bullshit) made out they were going to go bust.
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A major British company losing 80% of its share value in a single day isnt a non story.Its a very big story indeed. ::)
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A major British company losing 80% of its share value in a single day isnt a non story.Its a very big story indeed. ::)
It WAS a non-story until the crap media started on it. And the excitable sheep who believe them.
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Its a genuine newsworthy event.Nothing to do with sheep believing it.It lost 80% in a day - thats a fact. ;)
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Its a genuine newsworthy event.Nothing to do with sheep believing it.It lost 80% in a day - thats a fact. ;)
It plummeted AFTER the media started reporting, as investers knew it was more in trouble due to media reports than it was from the (perfectly normal) extra loans required.
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Afaik it plummeted when it became apparent on the markets that it was the thick end of a billion quid in debt.
They dont watch BBC news down in the square mile and then react accordingly.It happens a bit quicker than that. ;)
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Afaik it plummeted when it became apparent on the markets that it was the thick end of a billion quid in debt.
They dont watch BBC news down in the square mile and then react accordingly.It happens a bit quicker than that. ;)
The £900m loans were long known about. They have had them for a while ;)
The media never started on Thomas Cook when they took out those £900m, obviously they were too busy trying to sink Murdock and co then ;)
Investers will, rightly, get jittery when the gutter press start putting the scare stories out, as that irresponsible trash reporting will be what is more likely to send them under.
Hopefully this current review going on will come out with a recommendation that the media have to report properly and accurately, as the current state of our UK media is a bloody disgrace, and a bloody embarrassment.
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It was the fact that they went and asked to borrow more money on top of the £900 million that set the alarms off**.The institutional investors were dumping the shares by the millions (conversely,this morning,those who wanted to buy them couldnt because there simply werent enough floating around to satisfy demand).The city editors in media organisations then heard about it,and due to the fact that its a big household name it moved off the city pages to the front pages.Nothing wrong in that whatsoever imo.
The company is in deep trouble because it has been run in a very incompetent fashion for quite a while,the media reported the aftermath of the problems,they didnt cause them.
In the main I tend to agree about the British media,they are a rather disgrace,but I think your barking up the wrong tree blaming them for Thomas Cooks near collapse.
As for sinking Murdoch & co.The rot set in when Murdoch started building his rotten media empire in this country.After listening to many of the witnesses to the enquiry (Kate McCann in particular) Im quite happy to see the Murdochs sink to the bottom of the ocean with a concrete block tied to their ankles.
** Correction - It was more to do with the fact that the company announced that it was delaying announcing its results.
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Kevin Wood - I need your 'bang head on brick wall' smiley ;D
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Na,you need the one that holds its hands up with "ok Im wrong" underneath. ::) ;D
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Na,you need the one that holds its hands up with "ok Im wrong" underneath. ::) ;D
I honestly do not believe I am.
All the 'experts' are saying Thomas Cook are fine (well, struggling at moment, but not worryingly so), no (overly worrying) issues with financing. Some costs are one-off restructuring, plus closing many of those High Street outlets will cost a fortune, but will save massive amounts in subsequent years. Yup, £1b is a lot of wonga, but not when you consider turnover, and not that high for a business of that size ;)
But I'm wise enough to know I'll never convince a stubborn Irishman ;D
So based on that, I'm off to wash my hair, then watch some paint dry ;)
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OK then,maybe you will believe The Economist. It should be going bust,but due to the fact that it owes so much money and the Civil Avaition Authority will probably have to go under with it,the banks will be under pressure to give them one last throw of the dice - but it will probably be the last. ;)
http://www.economist.com/node/21540271
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OK then,maybe you will believe The Economist.
Doubt it. ;)
I suspect the last 2 days will mean it stands a very good chance of going under - who will book with them now? Who would have been happy to book with them Tuesday? What's changed? ;)
But then the British Media - all of it - are only happy when they are bringing down a British institution.
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Thomas Cook announced they were delaying their results due to financial difficulties - thats when the media frenzy started.There could never have been any other outcome. ::)
Personally I dont think they will go under - yet.
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I hope you bought those shares Albs they have announced an extension to their £1m overdraft for the next 18 months at 5% above base rate. So all is well for the time being for Thomas Cook, its staff, and customers. :y
It will be interesting to see the rise in the share value come Monday morning, before us mere mortals can get any. :(
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80% Thursday,24% yesterday - Monday,who knows ?? :-\................and no,unfortunately I didnt buy any. ::)
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I hope you bought those shares Albs they have announced an extension to their £1m overdraft for the next 18 months at 5% above base rate. So all is well for the time being for Thomas Cook, its staff, and customers. :y
It will be interesting to see the rise in the share value come Monday morning, before us mere mortals can get any. :(
That should read £100m.
You should have done Albs you were right
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Yep,should have.Just wasnt in a particularily brave mood at the time,and then of course they rocketed.Hindsight is the worlds greatest trader. ;) ;D
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You know as well as I do that had you gone with you gut feeling then sods law says that the banks would have pulled the plug. ::)
They would in my case :(
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And up another 19% today. Trust your first instinct. ::).....he who dares wins Rodney. ;D
Looks like the British media campaign to bring the company down has failed. ::) :-X
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Looks like the British media campaign to bring the company down has failed. ::) :-X
They have the strike to get all excited about. And everyone clever enough to read a paper or watch the news saw it to be a non-event, so they had no choice but to pack-hunt something else ;)
Ah 'dangle berries', I said I wouldn't reply to this drivel. 'dangle berries', Albs, you sucked me in again! ;D