Image by Getty Images via DaylifeJust looking at some newspaper headlines for 28 August 2008 and reading that Taylor Wimpey‘s shares slump, Foxtons was being restructured and RBS investors expecting “deeper shake-up”.
Did I wake up and liquidate my share portfolio? Now I know why some bankers earn squillions and deserve them.
Happy neighbour who has just sold his house – “Beautiful house in good location finds a buyer in difficult times”. Perhaps it is time to sell mine and start looking out for a bargain. I might be able to afford a couple of buy to let flats in a secondary location! Perhaps I need a business plan for myself!
Image via WikipediaC & J Clark is the UK’s largest shoe retailer with a market share of almost 10%. It is still a family controlled company which was founded by Quaker brothers Cyrus and James Clark in Somerset in 1825. It sells 41millino pairs of shoes each year with sales of £1.05bn.
The shareholding is split between a large number of the family and they must feel vulnerable having so much wealth locked into one company With all the Icelandic banking problems remind us all of the fall of Barings Bank there must be a business plan to diversify the ownership. It is all so very different from the Active Equity Companies in the Cambridge Cluster where we will never see any family dynasties. But then who wants to stay in Cambridge for ever?
I guess we will always need shoes but they have become a fashion item – not that you would know it by looking at my footwear!
Image via CrunchBaseThe bearded wonder, also known as Sir Richard Branson, has written a new book called Business Stripped Bare and if you go to the page you might win a Sony Ebook Reader or a signed copy of the book. I have already received a copy of the book as a birthday present. Sir Richard has found a great ghost reader and I am making my way through the thrilling story. A bit too much I, I and I but what else did I expect.
All the chat about the Virgin brand has worked for me as I am back on cable having had a wonderful Virgin Media experience; so different from when I was trying to get rid of NTL. It is difficul to appreciate that it is the same network with a very different business plan.
The only small niggle was that when the router and wireless were installed, my friend realised that the wireless speed was very slow. After the third call to the help line we really did get some help and were told to move the wireless router as far away as possible from the PC. We did and the speed rocketed. Also the Netgear router supplied is so easy to long on to. I did not shed a tear as I put the Orange Live Box in the return bag – it was virtually impossible to hook onto the wireless and the VOIP never worked even though I phoned the Orange help centre for two hours. I never was given the promised priority!
Image via WikipediaA wonderful week in the Lake District with an all day walk round the Fairfield Horse shoe. Not a good idea in my new boots as I said in a previous post. On Friday, John Morrell of Walkingways made me brave the rain and walk up Black Crag and down to Tarn Howes and back to the start at Skelwith Bridge, the home of Kirkstone Slate. John does not like the local as they were rude to him once many years ago so we moved on to the Britannia Pub at Elterwater. No fires as they were waiting for the chimney-sweep to arrive. The beer was excellent.
Enough of the hills and soon it will be time to travel to Southwold to enjoy the pier. The pier was bought by Stephen and Antonio Bournes in 2005. Judging from their website they have done well with their business plan and increased foot traffic from 500,000 to 650,000. We will have to chose a quiet day as we do not want any salt-spray getting into the motor of the mobility scooter.
Image by Getty Images via DaylifeOli Barrett is billed as a leading blogger and social entrepreneur – a person who makes things happen. He sounds more like a celebrity to me but we need lots of blogging celebrities.
With a quick search, I found three sites: Oli Barrett home page, The Daily Networker and Battlefront. He seems to break the golden rule of the Internet by spreading himself around so Google does not know where to find him.
I have suffered from starting three blogs and now stick to this one; well, that is my plan right now!
One of the many great things about the Internet is that it gives us all a chance to shine. Jens Veerbeck, 40, has one of the largest collections of toasters in the world and has created his own on-line museum. One cost around £3,500 and some of the older ones suggest it would have been safer using a toasting fork over a fire – preferably outside.
Toaster charamalise the sugar in the bread and you end up with the lovely sweet taste. I hope that no one produces an instant toast as it always nice to enjoy the “Pavlov moment” and think about the choice of marmalade or marmite.
I used to collect Beanies which were one of the first crazes to be stoked by the Internet. I have a lovely bear for sale at £500! I hope that the honest people who bought Beanies as a way of saving for the children can wait for the craze to re-appear!
The Daily Telegraph ran a series on Britain’s Biggest Private Companies. In the Manufacturing section, Marshall’s of Cambridge came in 7th with turnover of £633million and employing 3,500 people. It is a big business but hardly features in the Cambridge Cluster although the Chairman, Sir Michael Marshall, is sometimes seen in the list of angels. Now in the third generation, there must be pressure from some of the family wanting to extract of their cash particularly if you include the development potential of Marshall’s Airfield. Wonder if it appears in their business plan?
Image via WikipediaIt must be a most surreal experience to enter into a deal with a bank, include a clause that the one who goes bust loses out, and then find out that it is the bank that goes bust. With the citizens of Iceland running a banking revolution with new rules, not that all the citizens realised that their country was highly geared, until the banks started to suffer from global warming and melt away.
So the Candy brothers suddenly found that they were sole owners of their developments in Beverly Hills and the other being the £200million Middlesex Hospital site in London.
I like the quote by Chris Candy “It is never satisfying to benefit fromother people’s misfortune and this is the last way we ever wanted to get control of both sites. This is clearly very good news for CPC Group and the underlying projects”. I bet this scenario was never in their business plan!
I have just received the “second ever” printed catalogue from Tim Nursey, the sixth generation to run Nursey of Bungay who sell clothes and accessories made from sheep skins. They are keen to ensure you know that all their “skins are meat industry by-products”. Everything is manufactured in Suffolk and available from the website or from the shop. They were established in 1790.
So it is all very different from the companies in the Cambridge Cluster and so must be their business plan. No rapid expansion and global domination but attention to detail with each coat being made by one person instead of using the more productive process of each operator stitching the same seam everday.
Might be worth a visit with the festive holidays nearby.
Just to make clear, I have no connection with Nursey of Bungay, have never bought or worn their products (as far as I know) but I was intrigued by the sixth generation business.
Interesting that they have gone to the expense of publishing a catalogue. Could they have been better served by blogging and Internet advertising. The website looks good but not sure how Google rates it. When I searched for “sheepskin coat” I realised that it is a very competitive market. They did not appear in the sponsored links. There were only eight on the page so the cost of coming nineth and still being on the front page might give a good return. It will be interesting to see if they pick up this post. Perhaps they need some photos on Flickr and an entry on Wikipedia. Even Zemanta does not pull up much for sheepskin coats. Strange?
Image via WikipediaI hope that there are no entrepreneurs in the Cambridge Cluster who have to take on money at the Buffet’s rates. His deal with Goldman Sachs was $5billion of preferential shares with a 10% coupon (or yield) plus the option to buy $5billion of ordinary shares in the bank at $115 a share at any time in the next five years. This gives him an instant $437million profit on the closing price when the deal was struck of $125.05.
Let us hope that most Cambridge Cluster companies have sufficent runway to keep trading, with tightening of the belt, to last out until there are better terms around. It is a down round leading to dilution of existing investors but not a wash-out round.
Not quite the business plan expected of the likes of Goldman Sachs.