So whats up at Sunseeker

[jfm]

DFTT!

Yep, I know, will refrain

It would be very helpful if Westie34 would candidly answer the question "Have you, Westie34, ever posted on ybw.com / mby.com forums before under a different user name?"

Westie34?

EDIT - Urgh, forum timewarp again, this is in reply to tico's don't feed the trolls post, which is somehow below

 

[tico]

DFTT!

 

[westie34]

it was an accident and I retract and apologise

Apology accepted, and thank you for clearing up some issues that frightened me, I am still waiting for further information, and was in fact given an explanation about the changes on the board by my accountant a few days ago.

I may well contact you for other advice, but in the meantime I will stick to the lounge where people are less aggresive!

 

[aviator]

Apology accepted, and thank you for clearing up some issues that frightened me, I am still waiting for further information, and was in fact given an explanation about the changes on the board by my accountant a few days ago.

I may well contact you for other advice, but in the meantime I will stick to the lounge where people are less aggresive!

Westie is quite right to get his own advice and not from the forum. Also great to see you have sold your business and buying a nice boat. That is the way to go. Well done!

The rumours/hints by jfm are not good since he is meant to be 'in the business'.

I don't see any comments by him about the rather nastier situation with Fairline and their backers, but then in the past he claimed to be an advisor to that company.

 

[Bosun Higgs]

I think Westie has a point however badly expressed. The first 2 posts in this thread certainly made me wonder if Sunseeker was going under, and the problem with that sort of chatter on the www is that it can become self fulfilling if there is enough of it.

We have already had the "would you buy anything from Raymarine" thread and I'm sure that effect was reflected in their boat show sales.

 

[Deleted User YDKXO]

Don't know about anyone else, but I was surprised to read that in FY2007/8 they only made 5% margin, i.e. profits of 15.6m from just shy of 300m turnover.

I guess it's a sign that it's a very competitive business, but even so I was surprised because if they're not in the luxury end of the market I don't know who is! As such I would have expected at least 8-10% margin.

Was anyone else surpised by this?

Fairly typical of a manufacturing business in a mature industry. An old boss of mine once told me that manufacturing is a mug's game

 

[wakeup]

This country is in enough financial turmoil and working hard to get out of the mess we are in, the last thing we need are pompous, self important twits, spreading idle gossip and unconfirmed snippets of information discrediting UK companies. This is a global forum and a lot of eyes are watching, so in short it is either put up or shut up, or even more importantly engage brain before posting!

The above is NOT aimed at anyone in particular, it is just a general view, I am, as a loyal British citizen doing my best for Britain.

Are you on drugs?

 

[Firefly625]

..................... but in the meantime I will stick to the lounge where people are less aggresive!

..forgive me for pointing out what I am sure everyone else will be thinking....but the most aggressive poster on this thread was surely you...?

But if you do hang around here you will find that jfm has a true wealth of knowledge that I and the other non aggressive dwellers of this Mobo forum value very highly indeed.....

 

[MedDreamer]

I don't frankly care, I want to see it on here, and if he will not put it on here then he should not have started what he has. Where does that leave me, is my accountant a liar?

What he has done is totally and utterly wrong, it is dangerous and he should know better. While he is at it, if he is so clever let's see Fairline and Princess details while he is at it.

My investment is going to be 7 figures, I want to know! Don't worry an e-mail has already gone to my accountant!

Crikey You're a grumpy one, are you ever a happy one?

 

[Firefly625]

Who the hecks calls buying a boat an 'investment'!

............. easy answer, Every last one of us!! (whilst trying to sell the idea to SWMBO!!!)




---------------------
edited bit; Oh, how did I know you were going to say that?!!

 

[alt]

Who the hecks calls buying a boat an 'investment' - It couldn't be more the oppisite, it's a depreciating money-pit!

 

[gjgm]

Who the hecks calls buying a boat an 'investment' - It couldn't be more the oppisite, it's a depreciating money-pit!

Well, you just need the disclaimers...
highly speculative,established market may not exist for exiting,strongly advised to obtain independent advice,carry out due diligence,value may decrease (surely some mistake,Ed?)dont blame me if it sinks etc etc
Anyway, what did you tell Swimbo !!

 

[reginaldon]

Oh the joy of being 'of modest means' and anyway no pockets in a shroud.

comments of an observer.

 

[Trundlebug]

Fairly typical of a manufacturing business in a mature industry. An old boss of mine once told me that manufacturing is a mug's game

Hmm, have to take issue with you there I'm afraid.

I work in a manufacturing company, with 95% export, that's been doing very well throughout this current economic crisis, helped by the weak pound and no borrowings. Although I don't know about s/s's borrowings situation, they too are 80%+ export I believe, and I would have thought that would have been helping their profit margins over the last couple of years.

As for manufacturing being a mug's game, well I'll try not to bite too hard even though you've hit a raw nerve on that one! Suffice to say, if this country had retained more manufacturing and had a bit less emphasis on easy money from banking & insurance, we'd all be in a much stronger position than we are now, and will be for the next 15 years or more. I still can't believe how much we keep hearing about how much banking earns for the country, when their mistakes have cost us so much we'll be paying for them for generations. Not that good an earner then!

Anything that isn't fundamentally "creative", i.e. manufacturing, building, farming, chemicals, pharma, film industry, extractive etc, is in my view effectively a parasite on those that are - including law, service, retail, & insurance.
Whilst the conditions for mnanufacturing are tougher these days with far east competition, it's worth to the country remains, especially in respect of balance of payments.

Without it, and the others listed above, the country would go bust.
So no, far from a mug's game in my view!

 

[Jack @ Bosun's Locker]

Being rude and demanding will not assist IMHO. I thought your tone was a little gruff - FWIW.

Here here, westie34 you sound like a complete douchebag! Not wanting to descend any lower, I would like to say jfm, you're courteous handling of westie34's comments is a credit to you; I, with the hot-bloodedness of my youth, am unable to respond with such decorum.

Keep up the good work!

Peace & love,

Jack.

 

[jfm]

Apology accepted, and thank you for clearing up some issues that frightened me, I am still waiting for further information, and was in fact given an explanation about the changes on the board by my accountant a few days ago.

I may well contact you for other advice, but in the meantime I will stick to the lounge where people are less aggresive!

Westie34, if you'd care to read my whole sentence and not selectively quote, you'll see I wasn't apologising to you.

So, what did your accountant say by way of explanation of the board changes? Does he know really why they've been made? Does he say s/seeker never had a liquidity issue? You're quite sure he knows more about this than me, right?

Any chance of a candid answer to the question above: have you Westie 34 ever posted on here under a different user name?

 

[westie34]

See private message

 

[GSL]

Did someone not complain recently that the Forum has become uninteresting and bordering on boring????

I can't tear myself away from this one...........

Graham

 

[mjf]

None seen here???

 

[jfm]

I think Westie has a point however badly expressed. The first 2 posts in this thread certainly made me wonder if Sunseeker was going under, and the problem with that sort of chatter on the www is that it can become self fulfilling if there is enough of it.

I share your general concern about self fulfilling. Tricky subject of course, as to where to draw the line. Should s/seeker not be required to post their finacial statements for the world to see? Should the 20% shareholder, in trying to sell that stake, not be free to prepare a sales memorandum (with detailed finacials) and show it to lots of potential buyers? Should sunseeker not tell the world it has a new CEO who is a restructuring/troubled companies specialist? And so on.

But it is especially tricky if people don't read what's written. I haven't said s/seeker have any current troubles at all, in fact I said the opposite. I said they had a difficulty in the past, and I said that merely as an explanation of the board chages this week.

We have already had the "would you buy anything from Raymarine" thread and I'm sure that effect was reflected in their boat show sales.

For the record, I supported Raymarine in that thread and said they would continue, albeit under a different capital structure which their customers ought not to worry about. I said folks shouldn't worry and should buy their stuff if they like it. And that's not hot air. At LIBS last week, I spent £11,580 on Raymarine gear from their stand (and paid 50% deposit, and wont get the hardware till next week). I'd very much urge people to carry on buying Raym if they like the gear