-3x Short China Discussion Threads

[boffster] 14/6/2011 08:51

How about 'Morning Star' as a nod to the old Southern Cross name but a sign of better things to come...

[selkirk69] 14/6/2011 08:48

It's moving so quick I'm finding it hard to calculate how much I'm still down...

[typo56] 14/6/2011 08:48

Looks like a cracking short squeeze on relatively low volume. But then I can't see that "shed load @ 9.75p". 4,949 shares?

[aspers] 14/6/2011 08:44

Someone just paid 9.75 for a shed load!!!

[selkirk69] 14/6/2011 08:43

The point is it's going in the right direction for a change.

[aspers] 14/6/2011 08:43

Its the start of the long haul back to profit.....They should re-name the Company "Phoenix" Care Homes as they rise from the ashes of doom and gloom!!!

[stud-muffin] 14/6/2011 08:42

I listened to the R4 piece with the CEO yesterday live and thought nows the time to buy.......

And didnt. 5.2p offer directly after and still sat still.

Doh.

[aspers] 14/6/2011 08:41

Southern Cross's landlords have agreed to take 'significant' long-term cuts to help the embattled care homes operator avoid insolvency.

[boffster] 14/6/2011 08:40

Holding 250k at an average that makes my eyes water to think about !

[aspers] 14/6/2011 08:40

10p indeed before lunch...what price at close???

[aspers] 14/6/2011 08:37

With £25K invested here at a far far far higher price than this I am only sadd I never had the balls to pick more up at 5p!!!! Well done to those that did, 100% profit in a few days and multibagger in the longer term!!

[selkirk69] 14/6/2011 08:35

LoL how ironic is that.

[boffster] 14/6/2011 08:33

I would never have believed you a year ago if you told me I'd be celebrating the fact that the share price is 8p.

[selkirk69] 14/6/2011 08:32

Someone just pd 9 on plus.

[boffster] 14/6/2011 08:30

10p by dinnertime?

[aspers] 14/6/2011 08:13

OK.......10p by the end of the day???

[boffster] 14/6/2011 08:09

Somebody pinch me!!

[aspers] 14/6/2011 08:08

Light the blue touch paper!!!!

[edmondj] 14/6/2011 07:22

Lovely jubbly motivation; more tricky aspects:


Separately, it emerged that Southern Cross plans to impose new contracts on its staff, with any who refuse the new terms subject to dismissal without redundancy pay.

The plan, submitted to the GMB union last week, said that workers could have their hours increased or decreased by 20 per cent as required, or be moved to a different home "within a reasonable area". Staff would no longer be paid for breaks at work, meaning full-time employees would now be paid for 38.5 hours instead of 42.

A care assistant at a Southern Cross home, who spoke on condition of anonymity, said: "We don't know what to do – only an idiot would accept [the new terms], but if we don't, they will fire us. We are demoralised, and we haven't had any word from the managers."

The document also gave details of the proposed job cuts announced last week. Up to 2,947 jobs would be lost, including 1,275 carers, 690 caterers, and a quarter of the company's 950 maintenance staff.

Jamie Buchan, Southern Cross chief executive, said the proposals were designed to achieve "best practice" in the company's staffing model.

[edmondj] 14/6/2011 07:06

Sounds 'delightful', board to be more accountable to creditors!

[aspers] 14/6/2011 06:58

Warranty...yes just heard that, Wife is always up for work at 0530 so I never miss it!!

[warranty] 14/6/2011 06:48

Radio 5 Live Wake up to Money programme tomorrow morning at 5:30am totally devoted to Southern Cross with views of future possibilities for the company. Should be interesting listening.

[boffster] 13/6/2011 23:52

Looks like tomorrow will be a good day, if this is true:



Heres an excerpt

Southern Cross landlords accept rent cut

Southern Cross's landlords have agreed to take "significant" long-term rent cuts to help the embattled care homes operator avoid insolvency, and will avoid any home closures in the next few months.

The 80 landlords also agreed on Monday to lobby for other creditors to "share the pain" of Southern Cross's restructuring, and for the board to be more accountable to creditors as well as its shareholders. The company owes £50m to Lloyds Banking Group and Barclays, and £20m in tax.

[crosswire] 13/6/2011 12:39

Also check out ASTO.... possible takeover!