-3x Short China Discussion Threads

[b1llyboy] 11/7/2011 09:11

Something for nothing?.......... hardly.I don't call a 13 billion deficit nothing.

Every socialist government eventually runs out of money,sunrise,sunset.

Had a punt here with 5K.........peanuts compared to some brave souls.

Hopefully my accountant can find an expense account suitable for this.

[simon cawkwell] 11/7/2011 08:58

daniel,

You are quite right. Why Blubgurn Brown ever allowed the credit climate that engendered SCHE other than for his own base because foolish political ambitions I have no idea. The country as a whole has been very naive - as ever, wishing something for nothing. This is of course the heart of socialism.

Simon Cawkwell

[still waiting] 11/7/2011 08:47

hasn't Four Seasons got a tonne of its own debt as well?

[boffster] 11/7/2011 08:46

Well, there we go. After death my a thousand cuts theres a part of me glad that this has happened, now I can write it off. I suppose there's still hope of retrieving something but I'm not holding my breath. The 'new operators' of these homes are going to need some capital injection... good luck to any investor backing that, you're braver than me.

[b1llyboy] 11/7/2011 08:30

Over and out.

[targatarga] 11/7/2011 08:01

daniel - they eventually had no choice. Personally i feel these have been in a kind of administration for some time... The vultures have had very little to feed on! imho

[mavverick] 11/7/2011 07:15

sadly, not definitive, but looks like you are right goliard

[goliard] 11/7/2011 07:03

Understatement of the year Mavverick! It's dead... and so is this board...

[mavverick] 11/7/2011 06:56

really hope you can all get through this financially somehow...not looking good at all

[goliard] 11/7/2011 06:19

And now we find out that those still left with shares get nothing. A sad end for this company and its shareholders.

Dealy - do you still hold?

[targatarga] 11/7/2011 06:18

Feel for the holders... Just another connaught.... imho

[mavverick] 10/7/2011 23:06

as BB refers

[b1llyboy] 10/7/2011 15:56

The right piece of news will attract the hot money.
Not much else about to pile into.

[boffster] 07/7/2011 16:12

Thanks for the sentiments LEJ2

[lej2] 07/7/2011 10:07

Dilnot report did nothing to help SC (as mavv predicted).

I was surprised that the Four Seasons proposal to take back 50 or so poorly performing homes didn't warrant an RNS and a mini boost to the share price

I hope that the long termers here see some joy in the next few months, particularly dealy who was a stalwart for so long.

[boffster] 07/7/2011 09:44

Bloody hopeless stock this, seems destined to drift without constant support from good news. Oh well, I suppose its the end game that matters.

[selkirk69] 06/7/2011 16:39

Hardly any activity for days, so a 250k buy with a premium 4 minutes before the bell stands out.
Lets hope it's a good sign.

[boffster] 04/7/2011 23:12

Its that it is stated that a solution is expected by the end of the month which I find encouraging. If the committee members were at loggerheads with each other I doubt this would be the case.

[selkirk69] 04/7/2011 17:30

Interesting, it's expected already to lose homes, priced in the share price IMO.
Obviously very good news from a residents point of view in that they wouldn't have to move and have all that unsettlement etc.

However, what we don't know is the current position of the homes, do they need repairs and would that now be down to SC, what the occupancy level is, how profitable they are, could Four Seasons do any better personally I doubt it.

And from a pure business point of view would there be a premium on goodwill, it's a going concern with an income.
Could actually be a result for SC.

[boffster] 04/7/2011 09:44

FourSeasons to take over Southern Cross homes



committee "likely to reach a long-term agreement by the end of this month"

"Everything that's happening...is very constructive."

"Clearly Court Cavendish is capable of doing that [running SC homes] – if we need to do it we can do it – but I haven't been asked to do that,"

[rbcrbc] 02/7/2011 09:55

It isn't the debt that is the issue it is the high rents.
So a debt for equity swap is irrelevant.
A rent reduction for equity swap however.....

But the landlords will have to accept much lower rents from the new tenants if SCHE go under or they find new managers so SCHE hold all the cards IMHO.

[boffster] 02/7/2011 09:36

EI, no occupancy figures although they keep quoting the number 31,000 so it must be at least that. Although you might expect occupancy to rise in the summer months so its probably dropping in real terms, I don't know.