Donmac Posted November 1, 2011 Share Posted November 1, 2011 Dear Don "I agree that it is better to be unemployed than working in McDs" mac, I was being sarcastic but am suddenly worried that you might actually feel this to be a valid opinion. There you go then. Link to comment Share on other sites More sharing options...
Donmac Posted November 1, 2011 Share Posted November 1, 2011 They tried to get private funds BEFORE they approached the Govt. but the terms can't have been satisfactory. Have you not heard how that the Banksters are unwilling to lend businesses esp manufacturers money at present. Why should the banks lend manufacturers their own money. Who do they think they are.....bankers or something? Link to comment Share on other sites More sharing options...
L00b Posted November 1, 2011 Share Posted November 1, 2011 They tried to get private funds BEFORE they approached the Govt. Never! Surely you jest! Are you SURE?!? Regardless, your comment doesn't answer my question of why did FM not go back to the banks AFTER the Gvt dropped the deal, if it was such a sure-fire commercial investment? Or were you being disingenuous, there, for a minute? but the terms can't have been satisfactory.You mean, the terms which any other SME would have to abide by when requesting a commercial loan? These unsatisfactory terms? Which just might have required some collateral in the form of shares? Just like so many other investors would demand? (have you ever seen Dragon's Den? It's made for entertainment, sure, but the basic principles hold) Have you not heard how that the Banksters are unwilling to lend businesses esp manufacturers money at present.(when was that deal first tabled again? ) Banks lend just fine, when the business proposal is sound...it's just that a lot of 'entrepreneurs' got just as easy money as subprime mortgagees back in the day, and investors/banks have re-learnt their lesson afresh since. Why do you think so many businesses went to the wall so fast, when the economy had only just started to wobble? Link to comment Share on other sites More sharing options...
wednesday1 Posted November 1, 2011 Share Posted November 1, 2011 Never! Surely you jest! Are you SURE?!? Regardless, your comment doesn't answer my question of why did FM not go back to the banks AFTER the Gvt dropped the deal, if it was such a sure-fire commercial investment? Or were you being disingenuous, there, for a minute? You mean, the terms which any other SME would have to abide by when requesting a commercial loan? These unsatisfactory terms? Which just might have required some collateral in the form of shares? Just like so many other investors would demand? (have you ever seen Dragon's Den? It's made for entertainment, sure, but the basic principles hold) (when was that deal first tabled again? ) Banks lend just fine, when the business proposal is sound...it's just that a lot of 'entrepreneurs' got just as easy money as subprime mortgagees back in the day, and investors/banks have re-learnt their lesson afresh since. Why do you think so many businesses went to the wall so fast, when the economy had only just started to wobble? That is not being done at the moment and is even acknowledged by the ConDems, as they are trying to get the banks to lend more readily to businesses through the latest qunatative easing (Plan B ). Link to comment Share on other sites More sharing options...
WalkleyIan Posted November 1, 2011 Share Posted November 1, 2011 I seem to remember the cross party Business, Innovation and Skills Committee report concluded that the original loan was affordable and represented good value. http://www.publications.parliament.uk/pa/cm201011/cmselect/cmbis/484/48405.htm#a5 It is clear that the loan was subject to the normal procedures within the Department, and approved by the then Permanent Secretary and HM Treasury. Therefore, we are convinced that former Ministers signed off the loan in the full knowledge that it could be funded A report that the coalition seem to have conveniently brushed under the carpet. Link to comment Share on other sites More sharing options...
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