The Amazing Ronrico

I’m sure the company it’s leased from will be really pissed off.

I’d rather be not funny than sit online mocking people who have lost their jobs from behind an anonymous account like a total shitbag.

Do you think it’s funny mocking people pushed out of employment by events outside of their control? What an awful human being you come across as.

You really seem to be getting quite irrationally angry about all this. Why don’t you like people expressing their views on the debt position?

I don't need a lesson and I specifically said as a public company immediately before the transaction took place. Even at a private valuation of £124 mil, the debt position will very shortly be in excess of the purchase value of the company. But you say they’re not loading it with debt? That’s like buying a house for cash and immediately getting a 110% mortgage on it.

It looks to me that it’s about hiding taxpayer costs as otherwise why would they repay the £78 million with new external debt so soon? Probably so they can go back to the taxpayer By election time and say ‘this is now costing us nothing the taxpayer got it’s money back in 18 months’ while they’re stacking future debt inside the business instead. As I said above I’d like to know how many shares were in circulation before the sale to work out the likely market cap of the company relative to the £150M debt it’s now taking on.

It would be interesting to know what the market cap of the company was just before it sold. We paid £38 million for the equity it’s now going to have £150 million of debt sat in it. Which must be reasonably large compared to its market cap.

Not really it’s a monopoly that can be milked this government know that as much as any commercial buyer ever did. It’s worrying that they intend to load it up with £150m of debt almost immediately. And a big chunk of that new debt is going pay off .... debt originally lent to it by the taxpayer. It doesn’t bode well at all as the debt they are buying out was returning a good rate for Treasury. The new debt will now be returning a good rate for an external investor instead. It seems clear that they wish to use the company as a debt raising vehicle just like the last owners so that they can hide taxpayer costs.

I’m sure that’s exactly what Mac Quarrie and Espirito thought as they loaded previous incarnations of the SPC up with debt too. We’ll get it back in a few years. This is a cash cow. But it didn’t end well did it?

I think when most people hear of a contingency plan being in place the expectation is for that contingency plan to kick in immediately upon the happening of the event the contingency was planned for. Not a few weeks later after much head scratching and sitting on hands. Yet again the Channel Islands seem to have got their act together a lot quicker than here. It seems that our civil servants are so busy thinking how important they are that they can’t actually get their hands dirty.doing their jobs planning round this sort of thing. The announcement on hospital transfers was pathetic. Book another flight and send us the receipt. Firstly I’m sure there were lots of people who couldn’t afford to book another flight and secondly they probably missed their appointment anyway as there weren’t any flights to re book as EJ was booked out for the next 3 weeks within hours. The whole thing came across like they didn’t give a toss and they literally had months to get a proper plan in place as it was obvious Flybe was going to go bust at some stage. But they chose to do nothing but sit there with their fingers in their ears as it seems the actual contingency plan was: hopelessly hoping that Flybe would not to go bust so that they didn’t have to do any thing.

For £1 so they can all rake in the next round of taxpayer subsidies for themselves?

Yes of course I get that. But why on earth would you advertise that fact to the 9,000 people in your constituency? I was hoping to get insight into the political questions asked last week. Not restaurant tips and recommendations.

Is it like that every week? I thought that I might be able to read some of the logic behind the KWC bus question. Instead I read that he has taken his wife out for a meal (more than once) and another load of completely irrelevant rubbish that seems to have nothing to do with being an MHK.

I thought I’d get his views on this bus ticket thing to try to understand more about what was behind it so I had a look at his blog to see if he had added more. Christ on a bike I’ve never read so much drivel in my life. He’s taken his wife out for tea twice and watched some cartoons being made. What on earth does he jibber on about? It all absolute rubbish and seems to have nothing to do with anything policy related or explaining why he’s asked certain question this week. That’s 5 minutes I’ll never get back!

Even a complete wally like Harmer was on safe ground presented with having to answer such a completely stupid question. I suppose that shows how thoroughly stupid the question was.