Showing posts with label business failures. Show all posts
Showing posts with label business failures. Show all posts

Friday, September 11, 2009

Rover update

Keeping a roving eye out for a business in distress!More on the Phoenix Four from the BBC. They shouldn't be linked with a phoenix. Instead of rising from the ashes they are responsible for the demise, although they will have to be dragged trough a hedge backwards before they admit to that. A vulture is a more appropriate bird for them to be linked with.

Lord Mandelson seems genuinely aggrieved. He has criticised the men for not showing "an ounce of humility" and has called on them to apologise. He may have a long wait!

Thursday, September 10, 2009

Rover bosses took £42m from firm

Four Out-of-our-Range Rovers!What's that saying? Oh yes, "Rats desert a sinking ship". That's the one. Well the Rats of Rover have been truly fingered as dubious and double-dealing types. A report into the Rover collapse is now out. Robert Peston sums it up quite well by saying it was a "humiliating 800-page catalogue of how they enriched themselves while the last UK-owned mass market motor manufacturer hurtled towards insolvency". Greedy buggers!

The Phoenix Four may well think they were "flabbergasted" to be in the Serious Fraud Office's sights but they must have been the only ones. I think it is a crying shame they got to the teflon spray before the SFO could stop them.

Saturday, April 5, 2008

US Airline shutdowns!

And as I post on one airline going bust, I find it was the third in a row! Flightglobal.com reports that ATA Airlines has folded its wings and shut down, ending all flights abruptly yesterday, 4 April. "The privately held carrier lost a key charter contract, making futile its search for new funding to meet the demands of the pump. Its death after a lengthy wasting illness comes just days after another carrier with a long history and a well-known name, Aloha Airlines, shut down suddenly."

With fuel prices rising, how come these guys thought they could keep fares so low? Rocket science it's not! Rocket fuel, well that's another matter!

Aloha Airlines
ATA Airlines

Skybus Airlines goes bust - cancels all flights!

"All aboard! $10 a seat, and enjoy the flight!" Ten bucks only? What sort of airline were they contemplating. Cheap's not the word. It was certainly not a "robust business model". That will come later when those that were running the airline plead innocence, saying they did in fact have a "robust business model". This is business-speak for "we hadn't a clue"! One analyst said, "They had a dumb model". More like it.

The only people to benefit were those who flew whilst the cheap fares lasted. But what of money for maintenance and security? Doesn't bear thinking about, does it?

The free market is supposed to weed out those businesses that don't offer good service or properly made products. However, it must be up to the regulatory authorities to keep at bay moronic types masquerading as entrepreneurs and business operators. The customer may be in control over purchase decisions but a decision leading to unforeseen disasters and pecuniary misfortune should be avoided.

Skybus Airlines may have had a laudable proposition but just clear thinking should have told them that $10 a seat wasn't going to make a business success!
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