"British Steel on verge of administration"

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Boro Boy
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Re: "British Steel on verge of administration"

Post by Boro Boy » Tue May 21, 2019 8:56 pm

pabenny wrote:
Tue May 21, 2019 8:31 pm
Boro Boy wrote:
Tue May 21, 2019 7:03 pm
I tend to agree with you if you are a patronising, wimpy stockbroker belt Southerner but if you live in the North East you could be joining the existing redundancy queue containing thousands who for generations who are proud to have made Steel that has built the Sydney Harbour Bridge, the London Underground etc. all from the NE for over 150+ years; it being a family progression that Fathers and Sons found their livelihood in honourable manual work.

A long honourable history: http://news.bbc.co.uk/local/tees/hi/peo ... 220056.stm
I'm not any of those things and I acknowledge the honourable history of manual work in general. Likewise, those who fired and drove steam locomotives. But whilst steam locomotives were things of beauty, they were also noisy, dirty, simultaneously hot and cold uncomfortable places to work. Nostalgia apart, I doubt there are many train drivers who would permanently give up their air-conditioned cabs to go back to steam. (There are, of course, a fair number who do this voluntarily - but not as their day jobs).

(PS - I seem to recall someone complaining about a poster inserting a verbal portrait of an individual they do not know. Do you know who that was?)
My comments were ignited due to your comments. My previous complaint was directed at someone who wrongly assumed and vocalised what I would do in the future under certain conditions and with political links which I do not have and were all wrong...! Big difference!

Derbiean
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Re: "British Steel on verge of administration"

Post by Derbiean » Tue May 21, 2019 11:08 pm

There's a terrible echo in here :|

Looks like yet another casualty of the disastrous brexit fiasco and this is the tip of the iceberg if certain factions succeed in causing a no deal brexit crash.

I'm still waiting to hear for a plan from the brexiteers, you found the 350m a week you promised for the NHS yet?

:clap:
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blythburgh
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Re: "British Steel on verge of administration"

Post by blythburgh » Wed May 22, 2019 10:13 am

Boro Boy wrote:
Tue May 21, 2019 7:03 pm
I tend to agree with you if you are a patronising, wimpy stockbroker belt Southerner
I see you are talking about Nigel Farage again.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

blythburgh
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Re: "British Steel on verge of administration"

Post by blythburgh » Wed May 22, 2019 10:16 am

Derbiean wrote:
Tue May 21, 2019 11:08 pm
There's a terrible echo in here :|

Looks like yet another casualty of the disastrous brexit fiasco and this is the tip of the iceberg if certain factions succeed in causing a no deal brexit crash.

I'm still waiting to hear for a plan from the brexiteers, you found the 350m a week you promised for the NHS yet?

:clap:
Do not be silly even the liars who put the £350m on the bus knew we got a rebate so never paid over that amount and subsidies etc we cannot stop overnight would cut the amount that could be available for the NHS. But why not fool the electorate with a lie if it suits your purpose.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

William Joseph1
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Re: "British Steel on verge of administration"

Post by William Joseph1 » Wed May 22, 2019 10:19 am

British Steel is going into insolvency! The story is unfolding here:

https://www.bbc.co.uk/news/business-48365241
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Re: "British Steel on verge of administration"

Post by pabenny » Wed May 22, 2019 10:38 am

Deeply regrettable for all of those whose livelihood is dependent on the business.

To judge from some of the news reports, British Steel has been living on borrowed time for some years and the administration was inevitable.
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expressman33
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Re: "British Steel on verge of administration"

Post by expressman33 » Wed May 22, 2019 6:17 pm

British Steel actually made a profit last year.
Also the owners of BS , Greybull Capital , pumped £42m into a French steelworks as it begged Westminster for cash to save its Scunthorpe plant.
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Re: "British Steel on verge of administration"

Post by William Joseph1 » Wed May 22, 2019 6:23 pm

I cant find this reported anywhere although it has been stated on the news, that the government wanted to support British Steel but was unable to do so. Not just because of EU trade law , but also because it would have been against WTO rules.

Although the Chinese are flooding the market with low cost steel, it would appear that Brexit is being blamed for this disastrous failure, largely because of the failure of the EU to allocate carbon credits to the business as the UK was due to be leaving. Had we left it would have been possible apparantly to have negotiated another deal. But because we were in limbo it was not possible. it would seem that the UK is impotent to do anything to help the industry, hence the reason for insolvency.

it is interesting that state aid would have been banned under WTO rules. As although Brexit would seem to be a major cause had it been for another reason and had we already left. There would still have been no help forthcoming.
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Re: "British Steel on verge of administration"

Post by pabenny » Wed May 22, 2019 8:30 pm

Unfortunately, those facts about state aid and carbon credits don't fit the narrative of people who want to attribute blame in a way that suits their position.
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Re: "British Steel on verge of administration"

Post by William Joseph1 » Wed May 22, 2019 8:51 pm

pabenny wrote:
Wed May 22, 2019 8:30 pm
Unfortunately, those facts about state aid and carbon credits don't fit the narrative of people who want to attribute blame in a way that suits their position.
I felt it necessary to say it and is why I said it the way I did, without wanting to attribute blame to any one person or group of people.
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