Premier Marinas - Why haven't they furloughed staff?

[[165264]]

There have been some odd statements here; one being, effectively, that Covid isn't that serious an illness. Well, try speaking to some people in N Italy or Spain. We DON'T know the true figures and won't until we get a decent antibody test. Probably not far off, but if the experts are correct in that 80% of people get it in a mild form, and c 50% of cases are asymptomatic, then we've already had several hundred thousand cases in the UK.
Wellcome Trust don't make a lot of profit from Premier. I can't remember the figure, but it is one of their less successful areas. (Our son works there in a fairly senior role now.)
Wellcome use all their disposable income for charitable purposes over time.
I don't own a boat yet. I am still thinking about it. I could pay for one, but purely personally, it if were that close a shave for me financially, that I wanted a rebate in the current situation, then I'd not bother.
I wonder, more widely on the issue of Covid 19, about what it will do to the leisure boating world. Possibly some marinas might go to the wall. If so, I bet they would be re-developed for housing, so maybe there wouldn't be a lot of extra spaces available for boats, so the law of "supply and demand" wouldn't come into it? I had thought that it might mean marina fees would fall in the medium term. I might well be wrong. Even more interesting to me is whether the cost of used boats would fall. Some people might give up boating this year, simply because they hadn't had good value. And some, given our demographic, might die and therefore have their executors selling the boat. I am also told that younger people are less interested in buying boats now, but more interested in yacht shares. So, it's interesting times, and it will probably be a year before we even get a good feel about how things will settle down. One thing is for sure; now is probably not a good time to be buying a boat, even if you can go and look at one.

 

[[165264]]

Hotels, yes, bars, no. Purely personal prejudice.

BTW- Amazon is doing EXTRAORDINARILY well out of the current crisis. Bezo's shares are worth an additional $28Bn according to one source I saw.

 

[FlyingGoose]

Sorry FG, but apart from your incorrect use of English, you really are wrong. Firstly, it's the Welcome Trust. It is a CHARITY. In fact it's the UK's biggest, and I think, the second biggest in the world in terms of funds under management. It doesn't make a habit of buying businesses. In fact, people were surprised when the Charity Commission allowed them to buy Premier. The Trust was allowed to do this simply because it is so well regarded by the regulator. They would NOT BE PERMITTED to buy a dodgy business. As it happens, they make little money from Premier. And the "bottom line" as you put it, is using ALL of its money for charitable works. Including putting millions into Covid-19 research. I know this is correct because my son works in a fairly senior role there.

Why does ones English writing bother you , for all you know I could be so disabled I am writing with my toe but you feel the need to complain about it
May I suggest you go to company house and look at Premier Marinas books which you clearly have not looked at for that nice profit.!!
Why would a charity Trust buy a marina business, do they feel sorry for boaters, are they changing the planet for the better for boaters, is marinas the new disease cure, you are disillusioned to think in any manner why a Trust bought a marina business, it is a cash cow, and with welcome trust having charitable status how much charitable deductions on tax they will receive from a marina
You again have not read all the posts , you clearly do not understand a service business, and why large Conglomerates, or pension funds or Trusts buy such service industries,
Oh I know because it makes little money, is hard to run , and has high running costs

 

[[165264]]

1. You've told us you have a boat, so unlikely you're physically disabled. Educationally- clearly. .
2. You're a troll
3. Go back to your usual position at the bar of your unfortunate club, where you can resume your accustomed role of well known club bore.

 

[Blue Sunray]

Wellcome Trust don't make a lot of profit from Premier. I can't remember the figure, but it is one of their less successful areas. (Our son works there in a fairly senior role now.)

Just for info their accounts are here:

PREMIER MARINAS LIMITED - Filing history (free information from Companies House)

I have your interlocutor on ignore but I can guess who he is.

 

[dom]

Just for info their accounts are here:

PREMIER MARINAS LIMITED - Filing history (free information from Companies House)

Indeed, Total Profit after Tax £4,782,000; Gift Aid £4,830,000.

 

[FlyingGoose]

1. You've told us you have a boat, so unlikely you're physically disabled. Educationally- clearly. .
2. You're a troll
3. Go back to your usual position at the bar of your unfortunate club, where you can resume your accustomed role of well known club bore.

1. I am physical disabled thanks have not hidden it on this forum and have talked about it quite extensively , both physically and mentally due to a rare immune disease which affects my brain and whole body , also .prone to bouts of depression , anxiety, as not much serotonin in the body , with Asperger;s to boot but with your 49 posts and expressing myself as a troll seems hardly likely
2. No I have given you perfectly good advice , I have posted accounts on the Premier marina , and I come with 25 years in the service industry I feel that I I have made perfectly clear were I stand on this , you nature of my langue skills and now calling me a troll because I have clearly shown you up shows how insecure you really are
3, I do not drink , I do not visit Bars at all , is this your opinion or a fact , in that this is were you hangout and watch so called people like me

May I ask why disabled people cannot sail
MayI ask did you read the full thread or Jumped in with an arrogant opinion and let you belly rumble
May I ask as you have mentioned you seem to have a vested interest in this Marina because of a family member , would you think that this might be giving you a some what biased opinion

Edited to take away to lack of decorum on my side (apologises if I offended anyone)

 

[migs]

Goodness me; who’d have thought that posters would stoop to personal attacks on this venerable forum. In fact, whoever called somebody a ‘selfish fecker’ should definitely apologise.

I know it’s tough bothering to read so many posts before blasting forth with stuff that’s been done to death fifteen times before, so for those people, here is a summary to date:

A. You’re unlikely to get a reduction from a marina based on ‘loss of use’ as the marinas will simply say ‘it wasn’t our decision to close’. Some posters feel that you shouldn’t even think of asking, as all boaters are rich bastards only interested in ‘me, me, me’.

B. Some posters didn’t want marinas to furlough staff (and pass any savings back to customers) as they felt it was ‘wrong to trouble the taxpayer’. It turned out that people with this opinion tended to be wealthy ‘New Large Hanse of Hamble’ owners, and a post mentioning our (minuscule) boating budget was met with stony silence; most likely out of utter incomprehension…

C. If marinas do end up with excessive profits as a result of the crisis, the wealthy were happy to hand over their money as long as everyone else agreed to be labelled as tightwad whiners (social media speak for ‘I don’t give xxxx about your opinion. Mummy I want to see the bad man fly…)

NB. If there are any skint people out there who are still happy to pay full whack; then as has been said before - you’re adorable

Please, please let’s not regurgitate the whole unedifying mess over and over? And a little less naked aggression in future would be greatly appreciated.

 

[FlyingGoose]

The Good lord Always said , You do not Ask you will Never receive.
But never feel guilty for an organisation with billions of assets and a cash cow business printing money for them , Banks eh who would have though , we used to go in and talk to our Branch mangers , now your lucky to get in the doors and plenty of moaning about them,
I an in the middle of my negotiations with my Marina regarding the outcome of my extended stay and the future, because for the sake of say a 200 pound cash discount, they get my loyalty for many years, running into many thousands of pounds ., so for the not so business savy that is good customer and business sense
I have not received anything back but it is under consideration , and I will not name the Marina , as I feel now it is up to the individual to asses their needs as a lot of boats are in different circumstances and separate negotiations are needed , but good luck to all that try

 

[steveeasy]

Well you can go round and around but the original question was
Why haven't they furloughed staff?
Its an easy answer, cos they choose not too. What I don't understand is, what businesses is it of ours. well I suppose their not closed really, cos their open, in that they continue to trade. But their not open their closed. to You and me. Sure you know what to ask for!!.
Steveeasy

 

[FlyingGoose]

Bit Dramatic there Steve and if we do not discuss the whys and hows of the boating community we would have nothing to do on these forums , that is called debate and the need for information ,some do not give a hoot and wander through life oblivious of the under current , some Like Viago have uncovered the secret order of things , information is king and I like to ramble through lock down

 

[Frogmogman]

Goodness me; who’d have thought that posters would stoop to personal attacks on this venerable forum....................



..................... a little less naked aggression in future would be greatly appreciated.

Quite so. Even when we disagree on things, there is absolutely no need for personal abuse.

 

[[165264]]

Just for info their accounts are here:

PREMIER MARINAS LIMITED - Filing history (free information from Companies House)

I have your interlocutor on ignore but I can guess who he is.

Thanks- I didn't realise you can do that, so I have now. "Do not feed the troll" as they say.

 

[dom]

Why would a charity Trust buy a marina business....

.....a service business, and why large Conglomerates, or pension funds or Trusts buy such service industries,

On this point you are quite correct. Wellcome has a fantastic track record in identifying and monetising business opportunities. A good endowment's investment portfolio will seek to achieve Base Currency Inflation + Global Real GDP as a starting point, a benchmark which proves elusive for most of the “professionally” advised endowments.

And yet Wellcome has far exceeded it, in some ways by treating investing as simply another branch of science, where magic must mix with rigour and honesty. Its results are phenomenal and it’s kind of inspiring to see the good guys win!

 

[FlyingGoose]

To put people on ignore because you do not agree after you have insulted them , seems a bit drastic and can be allocated to throwing ones toys out of ones prams . but I would never think that on here

 

[Sadlerfin]

Thanks- I didn't realise you can do that, so I have now. "Do not feed the troll" as they say.

How do you do that

 

[FlyingGoose]

On this point you are quite correct. Wellcome has a fantastic track record in identifying and monetising business opportunities. A good endowment's investment portfolio will seek to achieve Base Currency Inflation + Global Real GDP as a starting point, a benchmark which proves elusive for most of the “professionally” advised endowments.

And yet Wellcome has far exceeded it, in some ways by treating investing as simply another branch of science, where magic must mix with rigour and honesty. Its results are phenomenal and it’s kind of inspiring to see the good guys win!

No one is disputing that a good buisness that buys other businesses to further their agendas is bad , this is what happens daily on Stock Markets and take overs , the point being made was a multi billion organisation , bought a well run profitable business to generate more cash, the argument was then we should not feel sorry for said Marina group and not feel as a customer we should be made to feel guilty about asking for a refund .
Many banks portfolios will also be in life sciences and other notably worthy groups in their portfolio of investments , but it does not stop us having littler sympathy for the banks during their bailout from the government in 2010
The linking of a business to the umbrella business is IMHO wrong, Premier Marina is run as an independent company with its own MD
My hotels that I worked for owned by an investment arm for a pension scheme another good deed company , but if a client was to complain it would not be directed to the investment fund but to the company sitting under the main group.
I would never expect a client to complain to the investment company or request their refund if I did not provide the service they were paying for. I find the argument of the Wellness trust in this discussion as a mote point , and we should only be dealing with Premier marina which in its self is a self standing company, with 4 million profit .
So again I do not think a small reduction in fees for any lockdown period , would overly affect he profit of said business,
How much profit is acceptable to people before it becomes too much , if next year after refunds to make only 3 million profit would this be acceptable to most

 

[FlyingGoose]

How do you do that

click on my avatar and you wil see ignore on it ,

 

[smert]

Premier have furloughed a lot of their staff.

They will also be losing income from visitor berthing, lifts, and temporary shore storage.

 

[chrisharris]

Premier have furloughed a lot of their staff.

They will also be losing income from visitor berthing, lifts, and temporary shore storage.

How do you know this? That's not been communicated, although several posters have suggested it was possible or indeed likely....