myrtle bradley Posted September 26, 2012 Share Posted September 26, 2012 Is Mr Robertshaw still in charge? I know he's in the Keys now but lots of them have 2 jobs. Mr Singer is in Shoprite still and we sometimes see Mr Cretney in his shop. Quote Link to comment Share on other sites More sharing options...
credente Posted September 26, 2012 Share Posted September 26, 2012 No, I think he managed to crawl from the wreckage some time ago. 1 Quote Link to comment Share on other sites More sharing options...
on_a_pension Posted April 19, 2013 Share Posted April 19, 2013 Government to buy the Walpole Avenue / Middlemarch site for £4.5million and lease it back - debt being offloaded and reduced - new shareholders funds of £2m being introduced.... Quote Link to comment Share on other sites More sharing options...
Dr Gonzo Posted April 19, 2013 Share Posted April 19, 2013 Essentially CoMin (including former managing director) lashes £4.5 million of taxpayer's cash on former chief minister's hotel group? When we can't afford uni education / preschool / etc, etc? Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted April 19, 2013 Share Posted April 19, 2013 Government Acts to Protect Sefton Group http://www.manx.net/tv/mt-tv/watch/54481/government-acts-to-protect-sefton-group-1- Great - hope if the company I work for has troubles the government will step in and help us out?! Really? (Has Chris Robertshaw still got shares?) 1 Quote Link to comment Share on other sites More sharing options...
Ron Burgandy Posted April 19, 2013 Share Posted April 19, 2013 I can't see the reaction to this one being especially positive........ How much is that Middlemarch site really worth anyway? It's one derelict bomb site amongst many. Quote Link to comment Share on other sites More sharing options...
NoTail Posted April 19, 2013 Share Posted April 19, 2013 Don't worry Mr Teare will have done the necessary due diligence. This is almost certainly a very good investment. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted April 19, 2013 Share Posted April 19, 2013 From Manx Radio: Government ploughs £4.5 million into Sefton Group The Manx government is to plough £4.5 million into the struggling Sefton Group. It’s to loan the organisation £1.3 million, repayable after five years, to help reduce its debt. And it’s also buying the Middlemarch site in Lower Douglas for £3.2 million, which will be immediately leased back to the group as it tries to restructure. The Sefton Group employs 300 people in the Island’s tourism, leisure and construction sectors and Chief Minister Allan Bell says, while he expects government to be criticised over the deal, he insists the alternative was unpalatable. Of course this is in addition to the guarantee to allow them to refurbish the Castle Mona at taxpayers' expense for the mythical IT college - or have they lost all hope of drumming up even a token amount of outside money for that to justify doing so? And just like that situation, no Tynwald approval has been sought to lash out with more money from the reserves. Incidentally if the Manx Government is now the effective owner of the Middlemarch site (not to mention the soon to be redundant police station) won't that have interesting implications for planning permission. 1 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted April 19, 2013 Share Posted April 19, 2013 Jebus. 1 Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted April 19, 2013 Share Posted April 19, 2013 Every time I see Teare getting interviewed the more shifty he looks, and I mean really evasive. At least Bell hides it by just being brazen. 1 Quote Link to comment Share on other sites More sharing options...
Ron Burgandy Posted April 19, 2013 Share Posted April 19, 2013 Every time I see Teare getting interviewed the more shifty he looks, and I mean really evasive. At least Bell hides it by just being brazen. Nothing sinister. He just hasn't a clue what he's talking about. 1 Quote Link to comment Share on other sites More sharing options...
NoTail Posted April 19, 2013 Share Posted April 19, 2013 Maybe it will be Steamy to be saved next ..... Quote Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted April 19, 2013 Share Posted April 19, 2013 I assume that as co-owners, us Taxpayers now get reduced room tarrifs?? 1 Quote Link to comment Share on other sites More sharing options...
ptarmigan Posted April 19, 2013 Share Posted April 19, 2013 That's 300 jobs they are talking about - would you rather it was left to go under? It's a loan. IOM Government has done it before with other big employers who were a bit shaky. The Sefton Group made some really bad investments - but the core business is sound. The place would be a lot poorer without a decent hotel - and frankly we could do with another decent hotel in addition, the 4 star on Lord Street would have been great. We struggle to find places to put business visitors to stay to give them a good impression - if the Sefton went it would be a 'bad thing' for the IOM. 3 Quote Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted April 19, 2013 Share Posted April 19, 2013 All well and good, but where does that mentality end......what about small struggling firms.....where's the cut off. Too big to fail, now where have we heard that before. This is a piss take of the highest order....it may well be a loan but whats it secured against. Quote Link to comment Share on other sites More sharing options...
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