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Clearwater

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Everything posted by Clearwater

  1. You don't make the money he's made by accident. Of those businesses, I'd argue there's a commonality of either price sensitive nature, brand name recognition and the need for an efficient and effective distribution model.
  2. The ranges of cars purchased are greater than those manufactured in the UK. It simply isnt economic to manufacture all types of car in any single market hence cheaper to build at scale in one country and export to another. Cheaper to have the toolings etc for car type A in one factory and build that car to the plant capacity and pay the distribution costs of cars rather than carry 10 types of toolings in 10 different countries and have lower distribution costs.
  3. That's not how it works. If a company listed in the UK is taken over by a foreign firm, the UK shareholders receive cash. They then reinvest that cash in other companies / investments. From the UK shareholders' perspective, they will only agree to sell to the investor if the price the foreign investor offers is greater than that the shareholder values the company at itself and the selling shareholder feels they have other reinvestment options that offer them greater value. Its just like thinking about savings accounts or mortgages. If you have a fixed rate mortgage with a penalty fee, there will be a point when mortgage rates have fallen sufficiently that you can save money even after accounting for the extra cost.
  4. At the heart of the Sports Direct model is efficient and rapid distribution of their product. They can and do move goods to and from their large distribution hub in Derbyshire. I can see how they must look at businesses like Hornby and think we can cut the distribution overhead. I suspect that's why they brought GAME and other businesses. If they can add marginal load to lorries already doing a trip from the type of small towns that still have a model shop and a branch of Sports Direct, then they increase their overall profits. As a large single shareholder, whether Phoenix wants to invite them into join the board is a good question - I'm sure they're talking. For Fraser Group, this is not just a financial play - it's an operational play.
  5. On paper but selling 10% is not the same as selling 0.0000001% so he'd likely not achieve the current quoted market price.
  6. It's also a micro cap and thinly traded hence the price jumps massively particularly when a serious player like Ashley rocks-up. There's a mix of FOMO and "me too" going on. If you have a large amount of capital to deploy, then even 2.5% of Hornby at the new price is £1.5m. For some managers, a bet to double that £1.5m alongside someone who they think they know what they doing is one worth taking.
  7. Worth noting that DJH did have an online ordering and payment system. Quite efficient from what I recall when I used it!!
  8. Different less efficient methods of purchase. Do you want to turn the clock back on other inventions too? Progress is good otherwise we’d all still be in caves….
  9. Hi Rich There you go. Only image of 3335 in the book Hard to tell colour though I'd suggest green? David
  10. From a quick skim, please see below from Becket GWR carriage workings. Looks like a carriage a day was detached and would reach Hull with the stock being provided on alternative days by the different companies. May be some other services that had similar routes. David
  11. Wasn’t there a 1930s service from Swansea to Hull, the port to port route? May be slightly misremembering. It may also be a simple typo….
  12. I agree. Two things strike me: 1) The way people enjoy model rail changes with many younger enthusiasts showing sometimes impressive, sometimes unimpressive layouts or techniques via YouTube. Not quite the same as seeing a layout or a demonstrator in practice but the same mindset 2) Across all volunteer organisations, people are not joiners and organisers in the way they were years ago. The volunteers I see running churches, sports clubs etc similarly are all often relatively old. David
  13. Thanks Miss P. Hadn’t seen rhe Dapol link. I wasn’t clear, perils of typing last on 25/12…, I meant a quirk of the locos allocated to the Birmingham district rather than the class as whole being birmingham based.
  14. Having a productive festive day, I was reading Warwickshire Railways and looking at photos of the 3100s. Looking at one at Leamington, there’s what looks to be a fairly prominent tool box on the front left and right of the running plate. In the Maidment book, there seem to be some similar pictures but others where the toolbox doesn’t look to be there. Was this an exception, a Birmingham division quirk and doesn’t look to be there on the Dapol samples? REMOVED BY 1910 SO PHOTO IM LOOKING AT MUST BE THAT PERIOD. PROMPTS QUESTION IF Dapol WILL DO AS BUILT VERSION WHICH MIGHT MATCH THEIR TOPLIGHTS? Presume some of the castings from other kits could be adapted to customise if required? Also does anyone know how far south Birmingham division prairies would have ranged? David
  15. Is there a list of what’s in the Blacksmith range?
  16. Yes, minorities have very little say/influence but I think the lack of cash flow and the continued dire figures drive the quoted share price more than thr free float. The majority shareholder has effectively taken a greater portion of the overall enterprise value through their loan further depressing thr share price (think an equity release mortgage for comparison except the release has funded business cash flow). looking at the accounts , the figures the leapt out at me were 1) the fall in gross profit. Sales increased at a lower rate than costs. 2) the large increase in sales and marketing expenses.£1.4m increase of 30%. 3) the acquisition of Warlord for c£1.25m valuing that business at £6m. Looks to me like management looking for a miracle 4) the fall in capital commitments for tooling in note 6. Suggests less cash outflow/ sweating of assets in future. Unwind of higher than average spend for tt120? Let’s see what full year brings but I’m not optimistic.
  17. When I asked, they suggest 18m from January to produce these delicacies.
  18. well no-one can say that BRM doesn’t have a sense of humour putting these two adverts ‘head to head’ in the December issue!
  19. Railwayana & Model Train Online Auction - Leonard Auction www.leonardauction.com/auction/auction-310/ This is quite the collection up for auction in the States. Loads of GWR plates. The O gauge stock is also pretty stunning. According to facebook, belonged to a guy called Tom E Jones
  20. Presumably a castle did pass through Little Bytham in roughly that guise in 1923/24 on the exchange trials? Though hauling teak stock not clerestories! David
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