Another day, another bust UK company Watch

Ferrograd
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This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying? We are being cheated by foreign industries and this government seems to care nothing about our own. If they were really as patriotic as they claimed, why are they not safeguarding British businesses, British jobs, British pride? We had the largest, greatest and strongest working class in the world. It's gone. We need a government that will re-industrialise our country and reivitalise failing industries.
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ByEeek
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(Original post by Ferrograd)
This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying?
This is a typical rose tinted view. Why do our traditiobal industries go bust? Because times, habbits and trends change whilst those "traditional" companies continue to do the same old thing.

But fret ye not. There are many companies out there who are evolving with the times and doing very well for themselves.
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Ferrograd
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(Original post by ByEeek)
This is a typical rose tinted view. Why do our traditiobal industries go bust? Because times, habbits and trends change whilst those "traditional" companies continue to do the same old thing.

But fret ye not. There are many companies out there who are evolving with the times and doing very well for themselves.
No, other countries seem to be fine. USA, Germany (mostly), China, Mexico etc.

We should have state owned industries like a state owned car company or a British equivelant of Huawei.
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ByEeek
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(Original post by Ferrograd)
No, other countries seem to be fine. USA, Germany (mostly), China, Mexico etc.

We should have state owned industries like a state owned car company or a British equivelant of Huawei.
Are you sure? Why would British news outlets get all bleary eyed about Germany or Mexico's long lost industry? Either that or German and Mexico's industry evolves with the times. Thomas Cook for example was a 21st century company operating a 20th century business model. Who buys a holiday from the high street travel agent these days? Jet 2 and Easyjet seem to have the right the right idea.
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Quady
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(Original post by Ferrograd)
No, other countries seem to be fine. USA, Germany (mostly), China, Mexico etc.

We should have state owned industries like a state owned car company or a British equivelant of Huawei.
Enjoy living in China then....
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CoolCavy
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We aren't being cheated out of jobs it's a deliberate decision by the west to outsource their designs to manufacturers in 3rd world countries because they have lower wages and questionable treatment of workers which makes production cheap. Manufacture in Britain and you have to pay overheads, the minimum wage, pensions etc. Why would any business want to do that when they can outsource to China and have slave labour do it for a penny per item.
That and a failure to modernise and get with the times means businesses will fail, seems strange how patriotic and conservative you seem in your OP yet bailing companies out to keep them afloat and nationalising sectors is a very left policy. Why should a business be kept afloat when it's just going to go bust the year after? People only wanted Thomas Cook for nostalgia, most things are done online now including holiday booking.
Last edited by CoolCavy; 2 weeks ago
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Rakas21
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(Original post by Ferrograd)
This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying? We are being cheated by foreign industries and this government seems to care nothing about our own. If they were really as patriotic as they claimed, why are they not safeguarding British businesses, British jobs, British pride? We had the largest, greatest and strongest working class in the world. It's gone. We need a government that will re-industrialise our country and reivitalise failing industries.
There are two simple answers to your premise..

1) UK governments since the 1980’s have largely decided that the disinflationary benefits of cheap imports are more important than the UK balance of trade. This has meant no protectionism.

2) Under EU law State Aid (favouring your own industries) laws any substantial protection is illegal.

I myself actually have some sympathy for your view in terms of outsourcing. Over the past 40 years more than 400bn worth of British firms have been acquired by foreigners resulting in massive outsourcing. We should amend share structures to mirror the US where ownership and control are different.

In terms of our post-Brexit future we should use a British sovereign wealth and investment bank to actively discriminate in funding British manufacturing in cases where automation can be developed to slash unit costs such that we can compete.

What we need to avoid is defensive tariff protectionism. It tells our businesses that being poor is fine because government will shield them and it increases consumer costs in cases where a foreign firm provides a plain superior product.
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milosrex
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It all comes down to private equity and investment banking. So many companies have been acquired by non-British and there are many international investors who are buying out companies that are struggling financially and then either helping them turn things around with financial and managerial restructuring or partitioning them off and selling them for a profit and this is the reality. To be fair, most of those involved in private equity are either accredited and or institutional investors as mentioned here https://dealroom.net/blog/private-eq...stment-banking .

The buyer can either restructure everything, and bring their own foreign identity to the UK lands or if we are lucky, after an equity investment the private equity firm can do very little to change the day-to-day operations of the company it acquired because, in some cases, the company is already running well and was acquired for other reasons. Some even send their companies to foreign investors for a profit only.
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Drewski
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(Original post by Ferrograd)
We should have state owned industries like a state owned car company or a British equivelant of Huawei.
That's exactly what we had. It was absolute crap and sold heaps of rust that didn't work and nobody bought.

And Wrightbus have only got themselves to blame. How many millions did it give away to the church it's owner was a pastor at..?
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Jammy Duel
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On average about a dozen UK businesses become insolvent every day (and about 70 individuals), it really isn't that big a deal.

The idea that we should re industrialise is an odd one, it's almost as if you aren't aware that it would be a step backwards
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Greywolftwo
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(Original post by Ferrograd)
This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying? We are being cheated by foreign industries and this government seems to care nothing about our own. If they were really as patriotic as they claimed, why are they not safeguarding British businesses, British jobs, British pride? We had the largest, greatest and strongest working class in the world. It's gone. We need a government that will re-industrialise our country and reivitalise failing industries.
I think your forgetting about Eddie Stobart? A British hauling company which is very successful
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Quady
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(Original post by Greywolftwo)
I think your forgetting about Eddie Stobart? A British hauling company which is very successful
Eh?
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Greywolftwo
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(Original post by Quady)
Eh?
Eddie Stobart? The white and green trucks who are named after truckers daughters and or wives?
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Quady
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(Original post by Greywolftwo)
Eddie Stobart? The white and green trucks who are named after truckers daughters and or wives?
The Scania (majority owned by VW Group) and Volvo trucks you mean?

Both are Swedish firms, neither has a production site in the UK.

What's the relevance?
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paul514
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(Original post by Ferrograd)
This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying? We are being cheated by foreign industries and this government seems to care nothing about our own. If they were really as patriotic as they claimed, why are they not safeguarding British businesses, British jobs, British pride? We had the largest, greatest and strongest working class in the world. It's gone. We need a government that will re-industrialise our country and reivitalise failing industries.
They go bust because they are uncompetitive it’s that simple.
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Greywolftwo
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(Original post by Quady)
The Scania (majority owned by VW Group) and Volvo trucks you mean?

Both are Swedish firms, neither has a production site in the UK.

What's the relevance?
Just look up Eddie Stobart
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Quady
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(Original post by Greywolftwo)
Just look up Eddie Stobart
What and the foreign take over bid speculation? Its majority owned by them anyway.
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Burton Bridge
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(Original post by Ferrograd)
This time its Wrightbus, the UK's last remaining bus maker. This should be a national disgrace. Why is it that all our once great industries are now decaying? We are being cheated by foreign industries and this government seems to care nothing about our own. If they were really as patriotic as they claimed, why are they not safeguarding British businesses, British jobs, British pride? We had the largest, greatest and strongest working class in the world. It's gone. We need a government that will re-industrialise our country and reivitalise failing industries.
If our parliamentarians would show the same passion towards about looking after out own interests as they doo are about looking after the EU's and the status quo of the wealthy get more wealthy maybe we would have a chance at becoming a little more progressive.

Unfortunately the time when the government was more interventionist has long since past. Nowadays we are more interested maintaining the right of elites to spend their money as they wish, to worry about elites spending on maintaining inequality of opportunities.

If we cannot get the above type of morality correct a return too nationalised industries is a pipe dream.
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Drewski
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(Original post by Burton Bridge)
If our parliamentarians would show the same passion towards about looking after out own interests as they doo are about looking after the EU's and the status quo of the wealthy get more wealthy maybe we would have a chance at becoming a little more progressive.
...or if the owners of these businesses didn't piss money away on their own endeavours rather than investing back into their businesses we wouldn't even be thinking about government intervention.
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Burton Bridge
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(Original post by Drewski)
...or if the owners of these businesses didn't piss money away on their own endeavours rather than investing back into their businesses we wouldn't even be thinking about government intervention.
Exactly, however you make the point for government intervention right here, possible by accident?

Running the country for the benefit of large businesses and their directors is exactly what has got us into this mess, we are not learning from our mistakes either to boot. The banking crash thought us nothing by the looks? Fast forward to today and Thomas cook (former nationalised) working class employees struggle to pay their mortgages, while to as cook directors figure out what luxury to spend their bonuses on, privatisation thatcherite ideals at it finest.

The definition of insanity is to continue to do the same things, expecting different outcomes.
Last edited by Burton Bridge; 2 weeks ago
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