Inveresk Share Discussion Threads

[evileye] 03/12/2008 22:13

TheOriginalRed
Sounds like the company needs a leader with your passion. Are you up for it?

[theoriginalred] 28/11/2008 20:38

I would add that AW is a member of a board that has consistently lied to Company employees - past and present - and who in all likelyhood has lied to shareholders as well.

Cold blooded incompetent businessmen are not needed to run Inveresk.There is no honour amongst thieves.

[theoriginalred] 28/11/2008 20:01

Yes 2fedup the same man is still running the mill.

But the latest news is that Inveresk have at long last called an AGM and even better Alan Walker is up for re-election.
So now is the chance that shareholders have been waiting for and vote AW off the Board. The Company can then appoint new and forward looking blood to the Company instead of an MD who has no interest in manufacturing or the loyal and hardworking employees of Inveresk and who all he is interested in is the value of the land which by the way has dropped dramatically.
Come on shareholders do the right thing and vote him off instead of towing the line like in the past. Lets get that new blood in while we have the chance and before the Company dies a premature death.

[2fedup] 27/11/2008 17:19

Tell me TOR does you informants no if it is still the same arrogant man running the paper mill ? if so no doubt he is still picking up his huge wage. yet the people who have been kick out, oh sorry made redundant have had nothing still.
It is not only the loyal people left as they are getting some money each month, it is the loyal people who were sacked ( that is what it is called when you have your contract terminated with no money I belive )I hope those people get the money they deserve and the board get what they deserve !!.

[2fedup] 29/9/2008 19:50

I am sure that they found the money to pay those greedy arrogant people who are so say running this company,not sure if run is the right word,I think ruin would be more appropriate.
What do you think M.J.Crockett ?

[theoriginalred] 22/9/2008 08:30

Trouble is I doubt that Tullis have the money to pay. So what then ?
My informers (and I have a number) tell me that despite agreeing a redundancy package with the Union and making a number of loyal hardworking employees redundant on the 5th September Inveresk do not have the money to pay them their dues and that it is unlikely to be forthcoming before early October. What sort of Compnay treat their people in this way ?
One run by incompetent greedy people who should be removed by the shareholders ASAP because they have ruined Inveresk's reputation

[zainab1] 19/9/2008 19:24

Jonny Wilinson

Why do you want to know where i got the info from?

Hopefully the employees they made redundant!!!!! on 5th Sept will now get the redundancy payment they are due.

[jonny wilkinson] 19/9/2008 17:58

zainab1 - 18 Sep'08 - 13:21 - 1006 of 1006

Where did you get info from please.

[zainab1] 18/9/2008 13:21

I see that Tullis Russell lost their court action with Inveresk & owe Inveresk £900,000. This should put a few coiffuers in the pot.

[ade13] 12/9/2008 16:35

QUAZIE12

In my experience the staff are only a problem when they can see that the management are only doing things for there own gain's,if the staff are treated with a bit of decency and honesty then may be they would get some back.
What is it they say lead from the top.Well in the case of this lot there was not much good to follow, that is for sure.

[quazie12] 12/9/2008 12:47

TheOriginalRed - 31 Aug'08 - 09:25 - 1000 of 1003

TOR

You make some good points and I agree with some of what you say...

"The big problem was the negligence displayed by the board of directors in not continuing to invest in a thriving speciality business."

Alternate value of the land has probably ruled out the bod ever offering the business to the workforce as a buy out.

There should be legislation in place to prevent this ie planners should be able to recommend refusal on the grounds that the owners of the brown field site have not fully explored alternatives that did not involve a change of use.

q12

[quazie12] 12/9/2008 12:41

ADE13

"If you ran a business would you be happy if your workers jumped ship at the slightest sign of trouble ?"

Ask any employer in the UK and they will say the same, that the worst part of being in business is the staff side of things. A one sided relationship where all the obligation is on the employer. 30 years ago that was not the case but now things have gone too far the other way. New business startups employing more than 1 person are in a decline. It is pretty obvious why.Maybe if you tried it you would see what I am talking about.

q12

[theoriginalred] 09/9/2008 08:28

I have refrained frm making any postings in the vain hope that MJC (or could his real initials be AW ?)would either reply or come clean,but, obviously that is not going to happen. So the board of Inveresk really are afraid of the truth !
My informants also tell me that the money to pay for the redundancies arising from the closure of PM1 still hasn't materialised and that it will be at least another week before it arrives if then !
Due to these delays industrial relations at St.C. have fallen to a new low with the remaining workforce not trusting ANYTHING they are told by management.
The management of Inveresk really are a bunch of greedy amateurs and one cannot understand why there has not been a shareholders revolt - after all there must be some fair minded shareholders out there somewhere !
Also it must be getting close to the date when Inveresk will have to call an AGM or be told to call one by the Secretary of State as is required by law.
When this eventually happens the board will of course blame everyone but themselves for the demise of this excellent papermill. Its time they came clean and held up their hands for once.

[bargainbob] 31/8/2008 09:38

Carrongrove house open on the 12th & 13th of September before converting to flats.
Could you please rate my daughters Walkers Crisp flavour.



Thanks in advance Bargainbob.

[theoriginalred] 31/8/2008 09:25

Quazie 12 - Your ignorance of the products produced at St. Cuthberts amazes me.
The mill had 2 machines with PM2 producing mouldmade artists watercolour and special printing papers - the only machine in the uk - whilst PM1 produced the pre- impregnated papers. Preimpregnated papers are nothing like conventional paper are are in effect plastic reinforced highly pigmented fibrous structures containing up to 35.0% plastic ! Inveresk were the only manufacturer in the UK and one of only 3 mainstream manufacturers of this type of product in the World ! Before the rot set in they were market leaders for a time and in fact in terms of quality remained the leaders to the end. The big problem was the negligence displayed by the board of directors in not continuing to invest in a thriving speciality business.
I can never understand how so called intelligent businessmen are allowed to get away with such negligence as they have destroyed a highly specialised thriving business and put a number of hardworking loyal people out of work. There should be a law against it - come on Labour do something useful for a change !
What say you MJC ?

[ade13] 29/8/2008 07:48

Quazie 12
The shareholders could have also have jumped from the sinking ship as you put it, the shareholder may lose out as well but that is the risk you take with shares, but you go to work to earn a living not play financial games every day.
If you ran a business would you be happy if your workers jumped ship at the slightest sign of trouble ? The workers of this company stayed in the hope that they could get though the bad times and I think they deserve a pat on the back for trying to keep it going under very trying times.
I would not want to be beside you in a battle first sign of trouble and you would run a mile.

[quazie12] 28/8/2008 13:48

The originalred

the writing has been on the wall for all to read for years in the paper industry in the uk.

I agree with some of what you say but

1)Property sales have stemmed operational cash losses for years thus buying employees time to bale out of a sinking ship at their own leisure

2) The entire UK has enjoyed a sustained run of prosperity and relatively full employment for about 10 years. Employees are not indentured in the 21st century. I feel for anyone about to lose their job as I have done in the past but they surely are only there by choice alone, not obligation

3) I think the bod will prob lose out here as well as employees. Share options will be worth little and share purchases at higher levels are showing a loss

4) it will be the shareholder who will lose out the most

[2fedup] 19/8/2008 20:41

No doubt they will hold back with any announcement in the hope that the people that they have kicked out will have found work. The board will then see a way as to not have to pay out so much redundancy.
Lets hope everyone just sits and does nothing,just like the board have done for the last so many years.

[mjcrockett] 19/8/2008 19:34

2fedup, I was only trying to answer a fellow posters question. There will be an announcement soon.

[theoriginalred] 19/8/2008 19:33

The demise of St Cuthberts started when all its profits were being used to fill a black hole in Scotland instead of being invested in the future like their competitors in Germany did. As a result the mill became less and less profitable and even then NO attempt was made by the current board of directors to make the essential investment that would have ensured St. Cuthberts future in the furniture laminate market.

Thus when the crunch came and despite the very best efforts of its underpaid workforce there was nothing left - no more money could be saved nor any further cost could be taken out of its products - with the inevitable result that PM1 had to be shut.

Bear in mind that St. Cuthberts still has one machine left making artists papers but, without PM1 its medium/long viability must be in question and without investment this machine will surely go the sameway as PM1.
Leaving a lot of land worth millions for the directors to lay their gready grubby little hands on.

[2fedup] 19/8/2008 19:23

MJC
Who is your very reliable source ? is it yourself as it has been commented many times that you seem to know everything just before it happens.Yet most of the board seem to plead ignorance to most things as if they did not know.
Does the board not communicate with each other or is just one person doing what suits him.

[mjcrockett] 19/8/2008 18:57

I did not say it was nothing the directors had done. I was just saying that I believed the MAJOR cause of the problems was the industry.

MJ

[2fedup] 19/8/2008 18:38

MJC
You say it is nothing the directors have done,you are right there it is the fact that they done sod all over the years towards the paper making business.They just ran that in to the ground along with most of it's workers thinking they would be able to line there own pocket's from the land that the paper mills were sat on. No doubt they will not come out of it poor unlike it's workers.