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  #21  
Old 22-05-2019, 12:42 PM
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Skintagain Skintagain is offline
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Quote:
Originally Posted by Hedgehog View Post
I'm sure it hasn't as it is fairly recent, but have Trump's tariffs had any adverse effect on steel exports specifically to The US?
I read that Turkish steel that would normally go to the US is coming into Europe as extra competition.
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  #22  
Old 22-05-2019, 12:56 PM
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Originally Posted by Chillo View Post
It was gone, it was renamed when part of the old British steel industry (i.e. the original British Steel) was bought from Tata steel.
So the Uk got the doomed Tata Steel and Tata got Range Rover and Jaguar, how are they doing ?
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  #23  
Old 22-05-2019, 01:44 PM
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Originally Posted by thefox View Post
So the Uk got the doomed Tata Steel and Tata got Range Rover and Jaguar, how are they doing ?
Announced a record £3.6bn loss a couple of days ago.
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  #24  
Old 22-05-2019, 02:25 PM
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Originally Posted by Blind_Eagle View Post
Announced a record £3.6bn loss a couple of days ago.
Ouch.
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  #25  
Old 22-05-2019, 02:28 PM
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Not hard to see why British Steel has failed leveraged with debts to Greybull capital owned by the lovely chaps below since 2017. I mean looking at their failures should have been enough for the government / Parliament to have stepped in and paid the £1 that greybull paid to take on the failing Tata Steel Europe. Some of the failures below

FRENCH-born brothers Nathaniel Meyohas, 46, and Marc Meyohas, 43 (pictured), are part of a wealthy French family and made their fortune from investments in private equity.

They set up Greybull Capital in 2010 but have had a series of failures. Before Monarch, which collapsed in October, Rileys Sports Bars fell into administration in September 2014.

My Local convenience store chain collapsed last year and, most famously, Greybull had a role in the collapse of electronics retailer Comet, which left the taxpayer with a £23m bill.
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  #26  
Old 22-05-2019, 02:42 PM
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Private equity can make loads out of sending companies bankrupt.
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  #27  
Old 22-05-2019, 11:54 PM
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British Steel

Quote:
Originally Posted by wedgetail View Post
Private equity can make loads out of sending companies bankrupt.

Depending upon what price and how they got in at the first place.

The concern here is its pass the parcel with the state as the backstop on a moral obligation. Getting the state to bail out private equity us objectionable particularly if that was the investment strategy in the
First place. If there is to be a state rescue Greybull’s investment gets wiped out.

On an electoral point, if Brexit uncertainty was an issue it demonstrates the consequences of both the result of the referendum and the vacillation of the politicians subsequently. Harsh but be careful what you wish for.

Last edited by JDawg; 23-05-2019 at 12:00 AM.
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  #28  
Old 23-05-2019, 07:58 AM
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Quote:
Originally Posted by wedgetail View Post
Private equity can make loads out of sending companies bankrupt.

JRM's style of successful market capitalism. Ker-ching!
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