-3x Short China Discussion Threads

[boffster] 10/6/2011 12:43

Not all that far behind you JC if it makes you feel any better. Still you win some you lose some. I'm still holding on for grim death though.

Currently having an interesting little race in my portfolio between SCHE, JPR & YELL as to which one can hit 0p first!

[fez77] 10/6/2011 11:55

Blimey! Watching the share price is almost as bad as sitting in a chair in front of the TV in one of the Care Homes nodding away and not understanding anything which is going on!

[selkirk69] 10/6/2011 10:36

In my fantasy world I still believe they'll get taken out as long as the LL's agree to reduce the rent, there's life in this dog yet.

Edit: none of the large shareholders have made any sort of move yet.

[stud-muffin] 10/6/2011 10:30

Bloody hell Aspers you have just broken the first law of ADVFN BB's.

Honesty...... Sheesh.

Still RAY looked after you, sadly I beleived the BOD when they said they were worthless.

I did think you were wrong here a good while back, so half of me was expecting you to come up smelling of roses.

[aspers] 10/6/2011 10:24

Down about £25K now!!! still its only money at the end of the day!!
Just about wiped out my gains on RRR last year!!!

[selkirk69] 10/6/2011 09:30

Essential
It's not about money, that's long forgotten about, it's the poor sod's in the homes and those that will die because of this mess.

[essentialinvestor] 10/6/2011 09:20

Far too late in the day for rants imv, at least re an investment context.

I was shouted off this BB when I said Sell at the 90 pence level
by some of the pernicious rampers, who have long since disappeared of course.

The Bulls did not want to listen, and clearly did not understand what
was unfolding here imv.

Would hope very few PI's are left holding.

[targatarga] 10/6/2011 08:46

Feels to me like an organised winding down of the company... Government at a distance and shareholders left out in the cold... Jarvis was a prime example...

[nermil] 10/6/2011 08:41

Daniel

On what basis do you feel this to be the case?

I did see a report on the BBC news I believe saying that they were in talks last night which would apparantly lead to some LLs taking over operation of some homes, and other homes closing. 200 homes was the figure being referred to.

[daniel] 09/6/2011 23:36

Some things are becoming clear: The company will continue to trade indefinitely as going concern and directors have admitted beyond July, the government will not interfere and wipe out investors, the LL are cooperating with Sche in their own interest (the alternative is worse), the Banker don't want to suffer public wrought if they even perceived to pull the plug on the elderly. The directors are determine to ensure the survival of the company and they will be foolish to sell out cheaply in any future deals or placing. The share cannot really lose further value, its already an overstretched elastic, that is bound to bounce back to 20p by July. Still not for widows & orphans.

[somethingalright] 09/6/2011 23:29

Kimboy2, litigate on what? They are broke..... lol

you'd be a bad lawyer

[kimboy2] 09/6/2011 23:20

FT saying they will surrender 132 homes. I would expect some litigation for breach of contract.

[boffster] 09/6/2011 16:36

From a shareholder's point of view it is a good thing that we won't have the interfering hand of the government. Because as soon as they get involved the PI can forget it.

[aspers] 09/6/2011 16:17

Typical of this Government....would rather payt out dole to an extra 40000 folk and make old folk suffer than give SCHE a hand......if it was good enough for the Banks then surely the care of the old should be a priority!!!

[essentialinvestor] 09/6/2011 16:13

How is this still listed imv?.

[topinfo] 09/6/2011 15:56

DJ UK's Cable Says Government Won't Rescue Southern Cross

LONDON (Dow Jones)--U.K. Business Secretary Vince Cable Thursday ruled out a government rescue plan for struggling care home operator Southern Cross Healthcare Group PLC (SCHE.LN), despite unions urging intervention to protect the company's 31,000 elderly residents.

Speaking in the House of Commons, Cable promised that any resident who lost their place in a Southern Cross home would be re-housed. The business secretary also pledged to increase scrutiny of private companies providing public services.

"I have asked my officials to look carefully at the business models of companies that provide public services and to ensure that they are stable and the sector regulators responsible for them are able to act appropriately," he said.

Southern Cross, the U.K.'s biggest private provider of care homes, is fighting to extricate itself from a financial crisis that has been exacerbated by its high rent bill, and falling fees and occupancy levels.

On Wednesday, the company said it was cutting 3,000 jobs, equivalent to 7% of its workforce. It had previously said it plans to defer 30% of its rent bill over the summer.

The crisis at Southern Cross has highlighted issues across the sector, in particular the role of private companies in providing public services, and the effect of the government's spending cuts on the provision of services.

The government has faced increasing pressure to intervene in the Southern Cross situation, with the GMB Union Wednesday calling for immediate financial support for the company to ensure the care homes continue to operate.

-By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [e-mail]

(Tommy Stubbington in London contributed to this report)

(END) Dow Jones Newswires

[johncraven] 08/6/2011 19:51

cut 3000 jobs?