Wetherspoon ( J.d.) Share Discussion Threads

[ignoble] 29/3/2020 20:10

Why would a Valuation Surveyor ever be sued?
There is no magic formula, surely

I suppose square footage but how are you meant to value the value of a square foot.

Put Houses on Ebay, I suppose that a house that sells at Auction probably sells at the right price

[konradpuss] 29/3/2020 19:56

Noble, you can bet the surveyors are already taking fright and valuing down (if they were actually working).

I remember 1990-1991 when many valuation surveyors got sued - they have not forgotten that one.

Surveyors can only value based on market transactions - there will be very few for a while so they are snookered.

I am unfortunately a valuation surveyor (non-practicing for 35 years thank God!)so I realise what they face right now. I believe they have dreamt up a thing called a 'Corona clause' to put in any valuation.

[ignoble] 29/3/2020 19:33

The way it looks now, you are not wrong

There is no Housing Market anymore
How do you value a house
Lot of negative equity around the corner

No buyers to hold the price up...

[konradpuss] 29/3/2020 19:20

Smithie, personally I think there was/is only one course of action. The elderly need to self-isolate together with the people who have an existing health condition. All the remainder should build up an immunity and carry on working, obviously with sensible restrictions.

A question - how many people under thirty have died of the virus so far?

I think you will find very few (under 10?) that do not have some form of existing condition in the U.K.

The whole country will be bankrupt if the government do not realise soon that they are driving us all over an economic cliff if they don't change their policies.

Just my view and I might be wrong.

[smithie6] 29/3/2020 18:57

"...
Some of them will behave terribly, and many more will make mistakes along the way. But few of us can honestly claim we would do any better."

difficult to criticise directors since they have a very difficult situation to deal with, (but the steps to take are fairly obvious I think, reduce the monthly outgoings, try to maximise any income (to reduce monthly cash burn), borrow/obtain money & ensure you have enough to cover your monthly outgoings for say 18 months, or the option to obtain that money if desired)

but
we can justifiably criticise the political & medical/scientific leaders

their years of medical training, high wages (& pension) & the growth of the infection numbers in China & also the tough lockdown steps that China took (when it finally acted)

made it BLATANTLY OBVIOUS that there was only 1 real possible course of action

- stop all people from arriving from countries that had the virus (in January !!), eg. China, & then Italy.
& start a programme to prepare for the possibility that that was not enough, buying masks, tests, ventilators etc.

& if the virus got in then close down the country, isolate people who the infected person had met & much more quickly get the numbers to 0, whereas from 30.000, 50.000, 100.000 infections it is a much longer, more difficult & expensive task.

[konradpuss] 29/3/2020 16:12

Different countries have dealt with the virus in different ways. Sweden has almost no restrictions and a very low death rate - so far.

O.K. they have a small population and there are many single households.

Their Chief Medical Officer Anders Tegnell has taken a different tack to almost all other countries.

Their bars, restaurants etc. with some restrictions, all still open.

Is he right?

Well when the history of this virus is written we will then know whether 'Big Tim' and Anders Tegnell were right or wrong.

[standish11] 29/3/2020 16:01

From today’s Telegraph:-

As the country struggles to operate an economy on lockdown, the search has already started for entrepreneurs and CEOs to blame, with the likes of Tim Martin at JD Wetherspoon and the restaurateur Rick Stein publicly pilloried for their decisions. We haven't started lynching them from the lamp-posts yet or organising show trials. But, heck, it is only week one. Let’s give it time.

And yet, in truth, scapegoating individual business leaders is the last thing we should be doing. With plunging sales, and closed premises, companies are facing an extraordinarily complex situation. They are being forced to make lots of tough decisions in real time.

Some of them will behave terribly, and many more will make mistakes along the way. But few of us can honestly claim we would do any better. And the most important priority is to preserve as many companies as possible, because that is the only way the economy will ever be able to bounce back.

[essentialinvestor] 29/3/2020 15:52

From today's No 10 press conference, the social distancing measures may last 3-6 months appears to be the line?.

[la forge] 29/3/2020 14:47

LONDONLOVES BUSINESS


Burglar’s target pubs and shops during UK lockdown
0
By LLB Reporter at 2:36 pm March 29, 2020 Business News, Coronavirus, Food & Drink, Law, Politics, World News

Police forces across the UK are having to carry out extra night patrols in empty city’s and town centres, as burglars target shops and pubs during coronavirus lockdown.

Manchester police reported a number of suspects were found carrying crowbars and hammers, whilst Liverpool police said, several pubs and construction sites had been targeted this week.

Police in Cleveland, a county in north east England, said nine business premises were broken into in the space of 24 hours last week.

Chief Inspector Zac Fraser, of Greater Manchester police’s City of Manchester division, told the Sunday Times, “Over the past few days a number of suspects have been arrested following reported break-ins in the city centre.”

Pat Karney, Manchester’s city centre chief and council spokesman said, “When the businesses are closed down, some scallywags will see it as an opportunity to break in and burgle.

“I think some will be licking their lips at some commercial premises and we are taking every precaution.”

Pam Kelly, the chief constable of Gwent police, said they are changing their “tactics”; to adapt to the current climate.

The chief constable said, “We’re seeing a 20% reduction in crime being reported as a result of people self-isolating and being in their homes.

“We are preparing to make sure premises that are left empty are being checked regularly.

“Now people are in their homes and it is pubs, restaurants and businesses that are vacant.

“There is a transferral of vulnerability that we are adapting to.”

Boris Johnson announced last Monday a three-week lockdown to prevent the spread of coronavirus.

The government warned on Sunday that the UK wide lockdown is not fixed in terms of length of time, and it will depend on how the public behave.

Gove told Sky News Sophy Ridge on Sunday the lockdown could be shortened, if people do follow the governments advice, but did not provide a time limit.

Gove said, “There are different projections as to how long the lockdown might last. But it’s not the case that the length of the lockdown is something that is absolutely fixed.

But disease expert Professor Neil Ferguson, from Imperial College London said lockdown measures could last until June, in an attempt to stop the spread of coronavirus.

Professor Ferguson told the Sunday Times, “We’re going to have to keep these measures [the full lockdown]in place, in my view, for a significant period of time, probably until the end of May, maybe even early June.

It is feared that civil unrest is about to “explode at any moment” as the largest cities across Europe are struggling with either no or low incomes due to the pandemic, a Red Cross chief has warned.

Many countries across Europe are having lockdowns extended, particularly in Spain and Italy as the cases are rapidly climbing.

A Red Cross official has warned that Europe’s cities will imminently erupt with civil unrest, as this is a “social bomb.”

[ignoble] 29/3/2020 11:00

Eurostar too

[johnwise] 29/3/2020 10:53

22 Feb 2020
Video

Importing the virus
29/03/2020.. UK boarders are still open. If they were serious about stopping the spread they would have closed those and stopped all flights from china, iran, Italy and spain.

[bookbroker] 29/3/2020 10:38

That Foot and Mouth was a load of cobblers, most of the vets had never encountered the virus, worked with a South African in Devon who had witnessed it first hand in his own country, so he understood the distinction between mouth blisters and lameness in cattle and other cloven hoofed livestock. But many hasty decisions taken on herds and flocks, and there was very little concrete evidence to suggest the symptoms were genuine in the culled animals. It was just blanket slaughter of stock, and contiguous animals within a radius of farms. But the whole thing was a whitewash, and fraudulent claims being made by many involved in supply of machinery during the clear-up.

[standish11] 29/3/2020 09:28

Professor Ferguson is not a “health chief”.

[johnwise] 29/3/2020 07:05

Lockdown until JUNE? Senior health chief warns entire population of Britain could need to stay home for nearly three months to avoid worst effects of coronavirus

[johnwise] 29/3/2020 07:01

VIDEO Coronavirus: The Brutal Truth

[johnwise] 27/3/2020 07:20

British pub chain JD Wetherspoon has suspended payments to its suppliers in the Republic until its pubs reopen after the coronavirus crisis

[wantage] 25/3/2020 23:21

Refusing to tide over workers, pay small suppliers show the great pub chain is under threat, or is it plain meanness that motivates the idiot savant?

[konradpuss] 25/3/2020 21:37

Debt should always be long term and at a fixed rate.

I think 'Big Tim' should have raised more equity and taken on less debt.

We are however where we are.

Yes, he is conserving cash.

I think the company will get through this however 'Big Tim' needs to come to terms with less debt and owning a smaller percentage of the company.

Finally, not paying your suppliers is not ideal.

[chinahere] 25/3/2020 21:31

That's water under the bridge - many companies have done buybacks that with hindsight look foolish.

I reckon all will be back to normal for pubs before the end of this year and in the interim the government is generously supporting them.

[chestnuts] 25/3/2020 21:27

China

If Tim had protected the cash instead of buy backs he would have been in a better position, its like giving a pint of blood then drinking it

[traderglt] 25/3/2020 21:13

Won't pay means can't pay

[chinahere] 25/3/2020 21:13

Tim is protecting the cash - very sensible. They're a good bet from here I reckon.