Thomas Cook (1 Viewer)

[fernandopartridge]

But if you don’t incentivise these roles with uncapped bonuses how will you ever attract the best people at making inept decisions?

Indeed! The cult of the executive is out of control

 

---

[fernandopartridge]

It may be a factor, but it is not the sole reason for it's collapse is it? I am so bored of Brexit being the go to blame for everything that happens.

Maybe the company was in the toilet before Brexit was even voted for and the directors taking out multi million pound bonuses was what finished it off?

Also, the Government being blamed for not bailing out an insolvent travel company? If they did bail them out, Labour/opposition would then be bleating about wasting tax payers money.

Nobody said it was the sole reason but it's going to be a factor for them as I said. The execs decisions are the main problem but they've been compounded by Brexit. See posts above the execs will blame everything but themselves

 

[shmmeee]

In public ownership from 48 to mid 70’s why not again

Because the travel industry has changed. Same as the mail delivery industry.

Natural monopolies are one thing but we shouldn’t nationalise everything that moves.

 

[shmmeee]

It may be a factor, but it is not the sole reason for it's collapse is it? I am so bored of Brexit being the go to blame for everything that happens.

Maybe the company was in the toilet before Brexit was even voted for and the directors taking out multi million pound bonuses was what finished it off?

Also, the Government being blamed for not bailing out an insolvent travel company? If they did bail them out, Labour/opposition would then be bleating about wasting tax payers money.

That last line is just ridiculous. When have Labour ever “bleated” that workers should lose their jobs? You realise they’re basically run by the unions right? They’ve even had trouble getting a fairly moderate climate change policy through conference because the unions are worried about job losses.

I swear most of the complaints about Labour are about scenarios people have made up in their head then got angry about. I saw someone earlier claim they wouldn’t vote Labour because once they got in Corbyn would scrap the nuclear deterrent.

 

[Sky_Blue_Dreamer]

Nobody said it was the sole reason but it's going to be a factor for them as I said. The execs decisions are the main problem but they've been compounded by Brexit. See posts above the execs will blame everything but themselves

Biggest loss of shareholder value in companies by a long long way is poor executive decision making. Average workforce making those kind of errors would at best be given a warning as to future conduct, most more than likely sacked. Exec though get huge pay rises and massive bonuses.

 

[ccfc92]

That last line is just ridiculous. When have Labour ever “bleated” that workers should lose their jobs? You realise they’re basically run by the unions right? They’ve even had trouble getting a fairly moderate climate change policy through conference because the unions are worried about job losses.

I swear most of the complaints about Labour are about scenarios people have made up in their head then got angry about. I saw someone earlier claim they wouldn’t vote Labour because once they got in Corbyn would scrap the nuclear deterrent.

That's politics isn't it. Doesn't matter what the in charge government do, the opposition says they shouldn't have done that. That's what I mean.

 

[fernandopartridge]

That's politics isn't it. Doesn't matter what the in charge government do, the opposition says they shouldn't have done that. That's what I mean.

What you mean holding the government to account? Awful isn't it

 

[ccfc92]

What you mean holding the government to account? Awful isn't it

I think you've missed the point. If Tories do something good, the opposition will try to belittle it. Likewise, if Labour say they will do X, Tories belittle it. Politics.

That was my original post : "Also, the Government being blamed for not bailing out an insolvent travel company? If they did bail them out, Labour/opposition would then be bleating about wasting tax payers money."

 

[Travs]

It’s sad, but anyone with their wits about them should be perfectly capable of booking a holiday anywhere in the world without needing a travel agent (and likely to save a lot of money in the process).

The one time I tried to give a travel agent the benefit of the doubt in the last five years, asked them to quote me on a flight to the Canaries... they quoted over two grand for three people... ended up booking a three week holiday over Xmas and new year for that price, including flights...

 

[skybluesam66]

It’s sad, but anyone with their wits about them should be perfectly capable of booking a holiday anywhere in the world without needing a travel agent (and likely to save a lot of money in the process).

The one time I tried to give a travel agent the benefit of the doubt in the last five years, asked them to quote me on a flight to the Canaries... they quoted over two grand for three people... ended up booking a three week holiday over Xmas and new year for that price, including flights...

Sometimes worthwhile when they have the monopoly on charter flights
Eg Cancun Cuba etc

 

[clint van damme]

Would be illegal under Eu rules regarding nationalisation and why on earth would you want to anyway?

It isn't illegal. There are rules and restrictions , as there are with the WTO, but it isn't illegal.

Though I have to agree with your comment why would you want to?

Feel sorry for their employees but don't see any benefit in the government intervening.

 

[CJ_covblaze]

We always book with Tui and have always found them better price wise than Thomas Cook. I’m guessing that Jet 2 will step up and start doing some long haul stuff now.

 

[fernandopartridge]

We always book with Tui and have always found them better price wise than Thomas Cook. I’m guessing that Jet 2 will step up and start doing some long haul stuff now.

I am not sure if they will, that's the problem Thomas Cook had, trying to compete in too many markets. Jet2 can just hoover up the beach holiday business.
Apart from honeymoon with Kuoni I haven't booked a package for years and years.

 

[CJ_covblaze]

I am not sure if they will, that's the problem Thomas Cook had, trying to compete in too many markets. Jet2 can just hoover up the beach holiday business.
Apart from honeymoon with Kuoni I haven't booked a package for years and years.

Every year I’ve looked into booking it all separately. Most of the time it’s slightly more expensive. There was one occasion where it would’ve saved us around £100 so even when it’s worked out cheaper it’s not enough to make it worthwhile.

 

[Robccfc87]

Every year I’ve looked into booking it all separately. Most of the time it’s slightly more expensive. There was one occasion where it would’ve saved us around £100 so even when it’s worked out cheaper it’s not enough to make it worthwhile.

Same here, it's all subjective to how much time you want to put into searching for yourself and how much the savings may affect you. I could do the admin on buying and selling houses but I don't as I don't want the headache. If you've got time and make a decent saving then good for you, it doesn't make anyone any less smart or savvy if they don't though.

 

[fernandopartridge]

Every year I’ve looked into booking it all separately. Most of the time it’s slightly more expensive. There was one occasion where it would’ve saved us around £100 so even when it’s worked out cheaper it’s not enough to make it worthwhile.

Fair enough

 

[skybluesam66]

Long haul you can save a lot. Thailand japan China done for massive savings v packaged with better hotels

 

[CJ_covblaze]

Long haul you can save a lot. Thailand japan China done for massive savings v packaged with better hotels

I’m talking about long haul. Depends where you go though I suppose.