mikebatty Posted November 16, 2013 Share Posted November 16, 2013 As the Cop-op has made no profit this year there is no share out. How can a company that has made no profit continue to trade ? Many patrons of the Co-op do so in reliance of a little share out around Christmas .... This year they are to suffer some disappointment. There has been some publicity about the financial problems they have been experiencing. One could be forgiven for asking - Has this been due to their not spending enough or , is it simply down to very bad management ? Link to comment Share on other sites More sharing options...
Just Sarah Posted November 16, 2013 Share Posted November 16, 2013 They could have broke even. Could be creative accounting. Link to comment Share on other sites More sharing options...
Longcol Posted November 16, 2013 Share Posted November 16, 2013 As the Cop-op has made no profit this year there is no share out. How can a company that has made no profit continue to trade ? If a company has made profits for the previous x years and has reserves that it can usually easily manage a one year loss / break even. For example a company makes £1 million a year for ten years. In year 11 it loses £1 million. It still has £9 million reserves. Link to comment Share on other sites More sharing options...
Uptowngirl Posted November 16, 2013 Share Posted November 16, 2013 As the Cop-op has made no profit this year there is no share out. How can a company that has made no profit continue to trade ? Many patrons of the Co-op do so in reliance of a little share out around Christmas .... This year they are to suffer some disappointment. There has been some publicity about the financial problems they have been experiencing. One could be forgiven for asking - Has this been due to their not spending enough or , is it simply down to very bad management ? A company can trade whilst making a loss providing it has the where-with-all to cover those losses. eg profit from previous years. But it isn't all bad news. Whilst you might not get your usual Christmas divi, they have found the cash to give a divi of £1 million to the 28 sponsored Labour Mps. So Ed Balls, who's brother Andrew earns around £8 million/year as a merchant banker, will get a little bonus towards his Christmas turkey. Link to comment Share on other sites More sharing options...
algy Posted November 16, 2013 Share Posted November 16, 2013 A company can trade whilst making a loss providing it has the where-with-all to cover those losses. eg profit from previous years. But it isn't all bad news. Whilst you might not get your usual Christmas divi, they have found the cash to give a divi of £1 million to the 28 sponsored Labour Mps. So Ed Balls, who's brother Andrew earns around £8 million/year as a merchant banker, will get a little bonus towards his Christmas turkey. A bit misleading. The Co-op contributes to the Labour Party. They're about to hold a ballot of members to ask whether they should continue. When are the companies who contribute to Conservative Party coffers going to ballot their shareholders to see whether they agree? Link to comment Share on other sites More sharing options...
Uptowngirl Posted November 16, 2013 Share Posted November 16, 2013 A bit misleading. The Co-op contributes to the Labour Party. They're about to hold a ballot of members to ask whether they should continue. When are the companies who contribute to Conservative Party coffers going to ballot their shareholders to see whether they agree? Not misleading at all. The Co-op sponsor a number of Labour MPs. Here is a list. Jon Ashworth, Leicester South, Adrian Bailey, West Bromwich West, Ed Balls, Morley and Outwood, Luciana Berger, Liverpool Wavertree, Geraint Davies, Swansea West, Jim Dobbin, Heywood and Middleton, Stella Creasy, Walthamstow, Stephen Doughty, Cardiff South and Penarth, Gemma Doyle, West Dunbartonshire, Louise Ellman, Liverpool Riverside, Chris Evans, Islwyn, Tom Greatrex, Rutherglen and Hamilton West Mark Hendrick, Preston, Meg Hillier, Hackney South and Shoreditch, Cathy Jamieson, Kilmarnock and Loudon, Mark Lazarowicz, Edinburgh North and Leith, Chris Leslie, Nottingham East, Andy Love, Edmonton, Seema Malhotra, Feltham and Heston, Meg Munn, Sheffield Heeley, Lucy Powell, Manchester Central, Steve Reed, Croydon North, Linda Riordan, Halifax, Andy Sawford, Corby, Gavin Shuker, Luton South, Gareth Thomas, Harrow West, Stephen Twigg, Liverpool West Derby, John Woodcock, Barrow and Furness, It really isn't at all similar to point out companies also donate to other parties. Those other companies are not the ones knocking off the divi that folk built up through buying their Ginger Nuts from the company each week in the expectation of getting a loyalty dividend.. And just to get the facts right. The Co-op are donating £1 million this year to the Labour Party and the MPs listed. The directors of the Co-op group are discussing whether they should ballot member (that is folk who buy Ginger Nuts and fozen peas from their stores or use their banks) about whether they should continue to hand over money to the Labour Party instead of using it towards a divi. Link to comment Share on other sites More sharing options...
Nagel Posted November 16, 2013 Share Posted November 16, 2013 Why does a cooperative need to make a profit? Isn't the ideal just to break even? How does the Coop work? What's this hand out of dividends? Link to comment Share on other sites More sharing options...
SpikeMac Posted November 16, 2013 Share Posted November 16, 2013 It really isn't at all similar to point out companies also donate to other parties. Those other companies are not the ones knocking off the divi that folk built up through buying their Ginger Nuts from the company each week in the expectation of getting a loyalty dividend.. And just to get the facts right. The Co-op are donating £1 million this year to the Labour Party and the MPs listed. The directors of the Co-op group are discussing whether they should ballot member (that is folk who buy Ginger Nuts and fozen peas from their stores or use their banks) about whether they should continue to hand over money to the Labour Party instead of using it towards a divi. Then buy your Ginger Nuts elsewhere. The donation is public knowledge.Everyone who shops there has access to the information about donations and divis. If you don't want to contribute to Labour Party funds, go and shop at Sainsburys:rolleyes: Link to comment Share on other sites More sharing options...
tinfoilhat Posted November 16, 2013 Share Posted November 16, 2013 Then buy your Ginger Nuts elsewhere. The donation is public knowledge.Everyone who shops there has access to the information about donations and divis. If you don't want to contribute to Labour Party funds, go and shop at Sainsburys:rolleyes: Are you trying to catch out Tory voters with a short memory you scamp? http://en.m.wikipedia.org/wiki/David_Sainsbury,_Baron_Sainsbury_of_Turville Link to comment Share on other sites More sharing options...
WeX Posted November 16, 2013 Share Posted November 16, 2013 Then buy your Ginger Nuts elsewhere. The donation is public knowledge.Everyone who shops there has access to the information about donations and divis. If you don't want to contribute to Labour Party funds, go and shop at Sainsburys:rolleyes: Pffft, Waitrose maybe, but not Sainsburys. Link to comment Share on other sites More sharing options...
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