howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
28 February 2011
17:0194593peter
you are referring to the stake/shareholders that shell out a tenner, the real money is that what will be paid to government in the event of the scheme getting the go-ahead.
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
17:1194596You said the right word there Peter "Lenders" and they will need to see a "CASH" RETURN WITH A VERY BIG+ as well,this plan will never never work.If I were for selling the port and as you all know I am not.I would go with the DHB plan,which would give the town of Dover £5million + on the very day of the sell,no "Lenders" nothing to pay back .The other way will see paying back to Lenders will take many many years before Dover see,s any funding if at all.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
28 February 2011
17:1894597Howard - no, that will not be enough in itself. Financing through the City will fill the gap.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
28 February 2011
17:5294600Wrong, Vic. Please read all the information out there before setting out your disinformation stall.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
28 February 2011
18:3694607that is what i am saying barry, the 10 quid bit is irrelevant to the financing, it is there to give people a say in how the port is run.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
28 February 2011
18:5894615That is how I understand it Howard. Sorry is I misunderstood your post.
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
18:5994616So what you are saying THE Lenders That is the ones who are going to give most of the funding will not need any return for the £millions they are going to put in into it. Sorry I do not buy that one.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
28 February 2011
19:1494618We pay them interest Vic. As long as we keep up the payments they keep their noses out. Just like the mortgage on a house.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
19:3194620Well what I have been saying for the last year or more is true,if we see a downturn in trade within the port at at this time ,we are seeing just that. the port could go bankrupt because the port would not keep up the payments,and then the port would be sold off again for alot less And Just like a mortgage the banks could take in over for next to nothing.
Guest 671- Registered: 4 May 2008
- Posts: 2,095
28 February 2011
19:4494621It clearly states on the
http://conservativehome.blogs.com/platform/2011/02/charlie-elphicke-mp-how-dover-provides-a-safe-harbour-for-the-big-society.html below:-
"That's why a bid has been organised for the people of Dover to take over the port. The People's Port community trust is composed of serious experts living in the Dover community and eminent business figures like Sir Patrick Sheehy and Algy Cluff. A £200m bid has been submitted to the Prime Minister. Anyone living or working locally can become a member for £10, as it is organised like the co-op"
So the figure is £200m not £400m and anyone from Dover Area can become a member for a tenner but the big backers, Sir Patrick Sheehy and Algy Cluff, who are big successful business men, for a reason, do not live in Dover. What commitment will they have for Dover/Deal?
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
19:4994622Gary the cost of the port will not fall below £400million ,the £200million is what we are told is needed for the mortgage +what the city bankers would need on top.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
28 February 2011
19:5194623They both live in St Margarets, or nearby, as I understand it.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Unregistered User
28 February 2011
19:5394624Gary, for the record Sir Patrick Sheehy lives in Sandwich & Algy Cluff lives in St.Margaret's. They qualify as Dover District residents.
Unregistered User
28 February 2011
19:5394625Gary, for the record Sir Patrick Sheehy lives in Sandwich & Algy Cluff lives in St.Margaret's. They qualify as Dover District residents.
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
19:5794627So thats two votes for then, but you will never get the votes you need to get this off the ground ,if it goes to voting that is.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
28 February 2011
20:0294628Thanks Paul, I was not totally sure where.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
28 February 2011
20:1894631i knew paddy and algy were locals, saw two blokes just like them eating doner kebabs on the way home from the eight bells.
the bus driver refused to let them on until they had finished them off.
Guest 671- Registered: 4 May 2008
- Posts: 2,095
28 February 2011
21:1494640Thanks Peter & Paul.
I suspect Sandwich & St.Margaret's is not their permanent residence but that is irrelevant. As I said they are successful businessmen for a reason.
Peter. Just like mortgage lenders, if you don't keep up with payments they will repossess and sell of cheaply.
If you are not entitled to sell your share or pass on your share or if you lose your share if you die and you are not entitled to a dividend, surely you are not buying a share; you are buying a vote. A vote is not a voice?
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
28 February 2011
21:2494641That is what I have been saying Gary for a very long time. The banks and money men behind this are not going to let the public who have just put in £10 anysay on how the port is run.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
28 February 2011
21:2694642Peter, your post 139 with this sentence:
"These are the safeguards which have been put in place to ensure the port stays in local hands in perpetuity."
makes me note that Dover Port is in Dover and will remain in Dover, it cannot be carried away.
But you also mentioned the paragony with a mortgage and having to keep ut the payments. In fact, an indebited Port of Dover is just what we do not need. The income would go to pay off the debits, and if the rates are not paid in time: bye-bye ownership of the Port!
At present, the Port has no debt, and DHB actually have a handsome sum of money from previous Port profits, which can be used to pay for any restructuring needed within the Port that does not exceed that figure, not forgetting that every day new profits derive from the Port.
Charlie's P/P plan is like throwing away the Gold and giving us the wood with a stone slab on top, with the risk of bankruptcy if we do not pay back debts that currently we do not have.
