Best Of The Best Share Discussion Threads

[traderabc] 11/10/2010 18:58

Jim Rogers: Schlarbaum Prize 2010

February 10, 2010 by Mises.org Updates
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The Schlarbaum Prize for the lifetime defense of liberty in 2010 goes to James Beeland Rogers. Jim Rogers has been a constant media presence for many years, accurately predicted the current boom-bust. He uses every opportunity to explain his economic rationale by his investment outlook, which is solidly rooted Misesian theory, not only of business cycles but of the costs of the welfare-warfare state.

In his commentary and investment outlook, he illustrates the way in which sound economics can serve as a critical intellectual infrastructure for understanding and interpreting economic events.

He has been guest professor at the Columbia University Graduate School of Business and is author of several important books on finance and investing. He was raised in Demopolis, Alabama, graduated from Yale and Oxford, co-founded the Quantum Fund in 1970, holds three world records for motorcycle travel (as noted by Guinness), and founded Rogers International Commodity Index in 1998.

The Schlarbaum Prize will be awarded at the Mises Institute Supporters Summit in Auburn, Alabama, October 8-9, 2010. The prize carries with it a $10,000 cash award. The prize has been given since 1999.

[lbo] 11/10/2010 18:22

Might be quicker to just ask BEST themselves!

Contact Best of the Best

William Hindmarch (Chief Executive)
2 Plato Place
72-74 St. Dionis Road
London SW6 4TU
Tel: [phone]
Email: [e-mail]

Rupert Garton (Commercial Director)
2 Plato Place
72-74 St. Dionis Road
London SW6 4TU
Tel: [phone]
Email: [e-mail]

[lbo] 11/10/2010 18:01

In order to be terminated they therefore existed!



It has become clear that BAA will be looking to sell one or more of its UK airports during 2009/10 and we have taken active steps to ensure that we are not adversely affected in any way. The 7 year Group contract that we signed with BAA in 2008 is with each individual airport, irrespective of ownership. We currently work with six different airport operating companies, and we look forward to any new relationships that these asset sales may result in, and to the opportunities they may bring for further expansion both in the UK and overseas.

[dnfa1975] 11/10/2010 17:54

Best of the Best today announces that its contracts with Baa Limited have been
terminated.

[dnfa1975] 11/10/2010 17:52

Best of the Best today announces that its contracts with Baa Limited have been
terminated.


maybe there were never any contracts...hmmm

[lbo] 11/10/2010 17:33

Not sure myself! How could they terminate 7 year contracts without compensation unless BEST are gaining from it to some degree? So Sales may fall but so will costs according to this piece. So although Heathrow and the other BAA sites were generating good sales were they generating profits for BEST after the cost of rents and other charges? That leaves Gatwick x2, Birmingham, Manchester x2, Luton, Bristol ,Dublin and Denmark not affected as not owned by BAA.

Also 21% of sales come from online.




Best of the Best paid BAA rent and other charges of £869,000 in the year to April 2010, down from £903,000 the previous year. That will include Gatwick for at least part of the period.

Operating leases on land and buildings accounted for £1.56m of company costs. The BAA payments are likely to come under this.

[pugugly] 11/10/2010 16:40

So what was in the contracts that allowed BAA to terminate -apparently from the rns without compensation (the reason I say apparently - is that there is no mention of apparently in the rns).

Do BAA still hold their stake or have they sold recently ???

Apparently a very sevre blow to bEST in terms of foot fall and I suspect consumer participation.

Any ideas how the business model will manage without BAA? Also the termination period not mentioned. Any views ?

Info: Not a holder but on long term watch list.

[lbo] 11/10/2010 13:51

Another Tip sheet slaughtering! LOL



Anyway has BAA breached that 2008 contract which seemed to run until 2014 or is that they are not renewing after 2014? Sounds like BEST could be getting a cash payment to exit if its before 2014? Also what BAA contracts are being Terminated as it seems most of the 7 year the contracts were not with BAA directly but with the individual airport operating companies? Also the Gatwick contract was transferred to the new owners of Gatwick so not with BAA anymore? Also as far as I make out BEST already have over £2m in cash and over another £1m in stock. And 21% of their business is now coming from the higher margin online business. BAA own nearly 14% of BEST so are those shares for sale now? Could we see a cheap bid now for less then NAV? Any thoughts anyone?



In addition, we have signed a 7 year pan-airport contract with BAA, covering seven of our existing airport sites (previously 3 year contracts) which underpins the stability of our operations and strengthens our relationship with the airport operator



It has become clear that BAA will be looking to sell one or more of its UK airports during 2009/10 and we have taken active steps to ensure that we are not adversely affected in any way. The 7 year Group contract that we signed with BAA in 2008 is with each individual airport, irrespective of ownership. We currently work with six different airport operating companies, and we look forward to any new relationships that these asset sales may result in, and to the opportunities they may bring for further expansion both in the UK and overseas.



The sale by BAA of Gatwick Airport is complete and our contracts have
transferred to the new owners

[topinfo] 11/10/2010 11:37

RNS Number : 1778U

Best of the Best PLC

11 October 2010

?

Best of the Best plc

("Best of the Best" or "the Company")

Trading Update

Best of the Best today announces that its contracts with BAA Limited have been terminated.

The airports company has advised that it will be using the space currently used by Best of the Best to provide more seating, signage and information for passengers.

BAA has been a minority shareholder in the Best of the Best Plc since 2001, helping build the Company into a successful, profitable AIM listed business operating in 14 sites in the UK and Europe. Best of the Best currently operates at four BAA airports.

It is, therefore, with great regret that the Directors of Best of the Best have learnt of the decision by BAA Airports Limited to terminate its contracts.

Best of the Best has for the past ten years provided a unique category of retail experience to BAA's passengers, and has performed strongly as a successful and growing retail operator. It is deeply regrettable that this relationship will be coming to an end.

BAA's decision has significant operational implications for the Best of the Best, and the Directors have worked closely with the BAA in the spirit of our long term relationship to effect an orderly termination of the contracts.

In the light of recent events, the Directors will be undertaking a strategic and operational review of the business and of the options available to maximise shareholder value. The Board will update shareholders in due course.

Enquiries:

+------------------+-------------------------+------------+

[traderabc] 10/10/2010 23:12

lol!

Foreclosure fraud parody

[traderabc] 10/10/2010 22:55

'Protect yourself with hard assets'

October 10, 2010
Tech Ticker Video Interview

[careful] 10/10/2010 20:35

it must be their version of equity release.
they must have thought property prices always went up.
negative equity in their 60's.
no fools like old fools.

[careful] 10/10/2010 20:35

it must be their version of equity release.
they must have thought property prices always went up.
negative equity in their 60's.
no fools like old fools.

[aspex] 10/10/2010 19:30

What the hell are a retired couple thinking when they take on a substantial mortgage at their age?
Senility or greed?

[traderabc] 10/10/2010 19:09

"What's really important is that law-abiding middle-class citizens are deciding that playing by the rules is nothing but a sucker's game. "


Thursday, October 7, 2010
The Coming Middle-Class Anarchy



Update I, below.

True story: A retired couple I know, Brian and Ilsa, own a home in the Southwest. It's a pretty house, right on the manicured golf course of their gated community (they're crazy about golf).

The only problem is, they bought the house near the top of the market in 2005, and now find themselves underwater.

They've never missed a mortgage payment-Brian and Ilsa are the kind upright, not to say uptight 60-ish white semi-upper-middle-class couple who follow every rule, fill out every form, comply with every norm. In short, they are the backbone of America.

[traderabc] 09/10/2010 12:47

Debunking Money (#1): Money, Myth, and Machiavelli

[traderabc] 09/10/2010 12:43

Careful, no doubt gold will have a huge pull back , the real issue is at what price it will occur at, we are nowhere near it yet (imo) That said until paper money is backed by physical assets, I doubt we will ever see our currencies appreciate in real terms during our lifetimes. I reckon the Sterling has only one chance long term, and that is to back itself with the 300 years of coal supply we apparently have here in the UK. Of course that won't happen till it's too late and we have an economy like Argentina.

[traderabc] 09/10/2010 12:40

O49balt, If beef prices go up enough to make them profitable in their own right, do the EU subsidies get phased out?

[careful] 09/10/2010 12:01

warren buffet missed huge profits on the dot com bubble also.
with gold he said he did not understand paying out lots of money to mine the stuff and then paying more cash to store it in a vault.

gold just sits there doing nothing in the dark.
no profit, no economic activity.

like tulipmania,the south sea bubble, the dot com boom, sub prime mortgage cdo's,
gold is the next bubble for the suckers to lose money on.
enjoy it while it lasts.
when it collapses you will all feel stupid.

[049balt] 09/10/2010 11:36

There is an article in this weeks Irish Farmers Journal titled "Is beef the next caviar"?

[traderabc] 09/10/2010 10:28

Agri-Food Thoughts October 5th
Submitted by Ned W Schmidt C... on Tue, 5 Oct 2010

Munching sound in back ground is that of locusts as they make Australia their Spring snack. Australia is in the process of preparing for war against the worst locust swarms in 75 years. In September, rains began to expose massive egg beds to the warming sun, encouraging them to hatch ahead of schedule. ABC News reported,

[traderabc] 09/10/2010 10:24

The Hail Mary
Submitted by Peter D Schiff on Fri, 8 Oct 2010

Since the US economy has failed to recover as widely predicted, pressure on the Federal Reserve to conjure a solution has increased. In fact, the Fed now faces the hardest choices in its history. It can either redouble its past efforts to re-inflate America's bubble economy (risking the destruction of the US dollar) or it can stop pumping and let the economy deflate to a self-sustaining level. Unfortunately, both choices guarantee severe economic pain - but only one offers the possibility of ultimate success.

[traderabc] 09/10/2010 10:10

Has Warren Buffett missed a trick by ignoring gold?

America's most famous investor, the Sage of Omaha has always disregarded gold investment as fundamentally flawed and has missed substantial gains as a result.
Author: Don Dion
Posted: Friday , 08 Oct 2010

[traderabc] 08/10/2010 19:21

Jim Rogers : Why Gold will continue to Rise

Jim Rogers - Gold to $2000 in 5 to 10 Years, Silver is an even better investment
Jim Rogers :"one reason gold will continue to gain is because of what he called the failed policies of the Federal Reserve, its Chairman Ben Bernanke, as well as Treasury Secretary Geithner and other government officials"
"They've all been dead wrong, totally unadulterated wrong," "Unemployment is higher now than it was before. Everything is worse instead of better. Let people go bankrupt. Let the system clean out and start over."
"If the world economy gets better I'm going to make money in commodities," Rogers said. "If the world's economy doesn't get better I'm going to make money in commodities, because the Fed is going to print money." and Rogers added that silver may even be a better buy now than gold because it is well off its historical high, while gold has been setting a series of new peaks lately. Rice will do well among soft commodities ,Jim Rogers always been very bullish on commodities and especially agri-commodities advised the CNBC journalist to go and get a farming degree ....

[traderabc] 08/10/2010 18:05

This is a good interview.

Max Keiser Al Jazeera's Inside Story – Jerome Kerviel: Villain or victim?