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Jun 14th, 2026
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Joined: Dec 2018
Posts: 465
Learner Plates Off!
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Learner Plates Off!
Joined: Dec 2018
Posts: 465 |
I have worked for Thomas Cook for the last 22 years. Flew for them for 15 years.
It's a massive loss for many great colleagues today. I have felt privileged to have worked with such a great group of highly professional and dedicated people.
Dark Red 4/4 80th Anniversary
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Joined: Mar 2009
Posts: 11,526 Likes: 312
Smile, it confuses them Member of the Inner Circle
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Smile, it confuses them Member of the Inner Circle
Joined: Mar 2009
Posts: 11,526 Likes: 312 |
Sorry for you and the working people of the company Pete. Management failed the customer and the staff here. The high street is looking the same with the Amazon movement.
Everyone loves a Morgan. Even me, unless it's broken again.
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Joined: Jan 2009
Posts: 5,945 Likes: 28
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,945 Likes: 28 |
Payments made to directors and managers should be treated the same way. It can be hard to prove but in Australia it is an offense to trade whilst knowingly insolvent.
Its an offence to trade whilst knowingly insolvent here too. Is there any suggestion that Cooks have done this? As for the directors, why should they not be paid their salary when others are paid their salary? Are they responsible for this Brexit farce that has undoubtedly been the final nail in the coffin? The whole idea of private enterprise is that good companies make money and bad companies go bust. Thi is what has happened here and the big losers are the shareholders
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Joined: Jan 2009
Posts: 5,945 Likes: 28
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,945 Likes: 28 |
Payments made to directors and managers should be treated the same way. It can be hard to prove but in Australia it is an offense to trade whilst knowingly insolvent.
Its an offence to trade whilst knowingly insolvent here too. Is there any suggestion that Cooks have done this? As for the directors, why should they not be paid their salary when others are paid their salary? Are they responsible for this Brexit farce that has undoubtedly been the final nail in the coffin? The whole idea of private enterprise is that good companies make money and bad companies go bust. Thi is what has happened here and the big losers are the shareholders Incidentally, the company is majority German owned quoted both in London and Frankfurt with 52% of it shares owned by the German company Arcandor. They owned the whole of Thomas Cook until it took over a British Company My Travel and once again got a bit of a British connection. Until then its only British bit had been its name,.
Last edited by howard; 23/09/19 06:45 PM.
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Joined: Apr 2011
Posts: 8,646
Needs to Get Out More!
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Needs to Get Out More!
Joined: Apr 2011
Posts: 8,646 |
Thats the biggest problem with loss making businesses. There are too many ways to keep them going long after there is any chance of recovery
Yes. When your business owes the bank £5,000 then you have a problem. When your business owes the bank £5,000,000 then the bank has a problem. Mmm. Except, when interest on your debt is eating 25% of TOTAL turnover (as has been the case for Thomas Cook over the last 10 years), it very much is your problem. Pete, I'm gutted for you and your fellow employees at Thomas Cook. The company always had a good reputation with the paying public. The fact that the management tried to fix an outdated business model by merging with a competitor with even greater problems is no reflection on the quality or professionalism of the workers at the coal face.
Giles. Mogless in Paris.
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Joined: Jun 2014
Posts: 11,616 Likes: 43
Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
Posts: 11,616 Likes: 43 |
Sorry for you and the working people of the company Pete. Management failed the customer and the staff here. The high street is looking the same with the Amazon movement.
Yes I share those sentiments Pete
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
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Joined: Jan 2016
Posts: 853
Talk Morgan Regular
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Talk Morgan Regular
Joined: Jan 2016
Posts: 853 |
Makes sense to me. But I guess the staff are redundant & the planes leased not owned. This. Thomas Cook has been on very dodgy ground for years, with a £1.7bn of debt. Didn't stop the CEO and his predecessors paying themselves something near £20m quid over the last 5 years or so, though. From a company valued at just £69m. I'm all in favour of big rewards for top performance, but this level of rewarding failure is just bizarre - and of course it's we taxpayers who end up footing the bill +1
Ken A.
Plus 4 2009 Centenary Metallic Red
Plus 8 1994 Dark Green (prev)
Honda CB100 The Big One
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Joined: Jan 2016
Posts: 853
Talk Morgan Regular
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Talk Morgan Regular
Joined: Jan 2016
Posts: 853 |
Another example of the "Unacceptable Face of Capitalism".
But not as odious as the unacceptable face of socialism, in my view. Peter have you transed?your avitar is much improved!
Ken A.
Plus 4 2009 Centenary Metallic Red
Plus 8 1994 Dark Green (prev)
Honda CB100 The Big One
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Joined: Apr 2011
Posts: 8,646
Needs to Get Out More!
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Needs to Get Out More!
Joined: Apr 2011
Posts: 8,646 |
Peter have you transed?your avitar is much improved!
Giles. Mogless in Paris.
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Joined: Mar 2009
Posts: 11,526 Likes: 312
Smile, it confuses them Member of the Inner Circle
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Smile, it confuses them Member of the Inner Circle
Joined: Mar 2009
Posts: 11,526 Likes: 312 |
I still find it a bit odd to see the photo. I think he is playing with our minds. If I had one it might be working.
Everyone loves a Morgan. Even me, unless it's broken again.
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