Fairline - any news?

The administrators have called a meeting for all Fairline employees to attend today at 11 am. My understanding is they will be told where it goes from here.
 
jfm said:
Personal risks: all the investors in Ferretti (2007 buyout), Oyster (2007) Canados (2007), Princess (2008), Fairline (2006 and 2011), and a bunch of others I can't remember, have lost absolutely shed loads of their money on these investments. (And I'm not sure Joe public made any meaningful contribution either!). The only successful ones I can think of in recent years are the Irish financial investors who bought and sold sunseeker, though they did take risk
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Jeepers, does no mid volume maker actually make any money - proper old fashioned profit on turnover? Is it just a choice between niche or Bavaria-mass-production?
 
Boatingboy said:
The administrators have called a meeting for all Fairline employees to attend today at 11 am. My understanding is they will be told where it goes from here.
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When they were sent home Wednesday they were asked to return today for a meeting and all those previously laid off were contacted with same request. The administrators have been infinitely more considerate to the needs of the employees than either WB or BC......let's see what happens next.
 
Shadow63 said:
The administrators have been infinitely more considerate to the needs of the employees than either WB or BC......
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That's hardly surprising, considering that from a mathematical standpoint even the smallest number is infinitely larger than zero! :nonchalance:

Oh, and in reply to all those who argued that financial investors are good guys after all, because sometimes they loose money:

First of all, there's nothing restricting them to give up the PE game if it's so miserable, and go find a proper job instead.
After all, they are at least as qualified as Kevin Spacey was in American Beauty when he found a job cooking fast food burgers, so that could be a good starting point, if I may throw in a suggestion.

Secondly, but most importantly, I'm afraid you are mixing up things, folks: you can both earn or loose money following proper business ethics or not - I never heard anyone pretending that financial results, neither when good nor bad, can be taken as an indicator of that.
And as I understand it, it's business ethics we were talking about - that's where this breed of investors fail miserably, because they simply have none, regardless of when they win or loose.
 
petem said:
Will you let us know the outcome?

Pete
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Well very sad news. Everyone will be made redundant with immediate effect other than a handful who will complete a couple of boats. The employees will get all monies owing to them and the 3mths missing pension contributions paid over. I consider myself very lucky to have worked for Fairline in it's hey day, Sam days, they were great and going to work was an absolute pleasure. I wonder how he feels today?

There are now many excellent and skilled personnel looking for work so if you have any way of helping them please do so. Some of them have had only £126 in 10 weeks and final payments will take time, they don't deserve this.
 
jrudge said:
What fine words.

Hope to get over to Sardinia next summer
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Thanks for your appreciation. And goes without saying that you'd be more than welcome to come back, anytime.
Also because, among all forumites who came to CF last summer, you are the one who had less time to try all the nice spots the area has to offer! :)
 
Shadow63 said:
petem said:
All but 69...

http://m.northantstelegraph.co.uk/n...g-business-despite-loss-of-380-jobs-1-7105909

At least a skeleton staff remain to finish in build boats
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This is expected to take about 4 weeks and then they too will be made redundant....unless a buyer an be found of course.
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I agree it's a a very small consolation for the staff but better that than customers not getting the boats they've paid for.

It will be a sad day when the remaining workers clock off for the last time and the last boat leaves the factory.
 
I agree with shadow having worked for FB in better times...lots of sad and sorry people and to be honest lots of relieved people that are at last free from the terrible situation that WB put them in. Fairline was a fantastic place and one may be under different circumstances I may work with them again, but as for the moment it's a relief to be free from the menace that FB has become to its very loyal staff... Be aware of WB any people of business out there..to the younger especially some of the office staff who may not have alot of life experience..life goes on and good luck..the shop floor..fantastic tea, I hope every one gets on and finds a future...oh.. Unorthodox as it may be,,,any one needing an excellent customer liason / sales... Vicky Farrow ..good luck all.
 
Pete, I wonder whether it is worthwhile for the owners' club to look at buying the IP in the name. Won't help any employees but might put you all in a good position to license out the brand rights to another manufacturer you like rather than see the name get bought and used for something none of you do like. The administrator might want silly money but, you never know.
 
benjenbav said:
Pete, I wonder whether it is worthwhile for the owners' club to look at buying the IP in the name. Won't help any employees but might put you all in a good position to license out the brand rights to another manufacturer you like rather than see the name get bought and used for something none of you do like. The administrator might want silly money but, you never know.
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I don't want to sound like a grave robber but there are a few assets that I'd like to acquire. It's a topic that at I'd like to discuss with you and a few others offline. Would you be happy to PM me your email address?

Pete
 
petem said:
I don't want to sound like a grave robber but there are a few assets that I'd like to acquire. It's a topic that at I'd like to discuss with you and a few others offline. Would you be happy to PM me your email address?

Pete
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PM sent
 
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