Teesside-2
I think as much as anything it’s the lack of transparency in airport financial affairs..well documented on this thread.
A reluctance by the mayor to be upfront at all times…charitable foundation anyone?
This seems to be similarly murky with Teesworks finances.
Will it have any influence on airport development..who knows.Much anticipated new holiday flights were to be announced this year..but weren’t.
Worth bearing in mind Ryanair pulled out because of the fuss over airport departure tax…will this bad/good recent press have a similar effect..?
Time will tell..guess the outcome yesterday will rumble on until absolute clarity..probably in the form of an NAO investigation is complete.
Either that or a Labour government starts asking pertinent questions?
A reluctance by the mayor to be upfront at all times…charitable foundation anyone?
This seems to be similarly murky with Teesworks finances.
Will it have any influence on airport development..who knows.Much anticipated new holiday flights were to be announced this year..but weren’t.
Worth bearing in mind Ryanair pulled out because of the fuss over airport departure tax…will this bad/good recent press have a similar effect..?
Time will tell..guess the outcome yesterday will rumble on until absolute clarity..probably in the form of an NAO investigation is complete.
Either that or a Labour government starts asking pertinent questions?
I hope all this business gets sorted out to everyones satisfaction, of course, if the opposing anti-airport Mayoral candidate had won, there would now be no airport and no Teesside thread to debate on.
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The criticisms of the mayor were raised and have been repeated many times by the Private Eye and the Financial Times plus several others and related to poor desision making, transparency and governance. A daft labour MP then used parliamentary privilege to make a silly claim and this allowed the mayor to deflect attention to him and ignore the more substantive criticisms that investors will see.
The 28 recommendations in the report largely validate the criticisms but again attention has been deflected to what the MP said rather that acknowledging the errors and short comings.
Mr Houchen has now admitted that the criticisms of his conduct have caused businesses to avoid the Tees Valley and this has surely impacted on our airport.
The national press and TV news chanels are highlighting the 28 recommendations and this is what those with the cheque books will see.
It's not and never has been a witch hunt but there needs to he a response to the report that persuades future potential investors in Teesworks and the Airport that Mr Houchen can be trusted afterall especialy if Labour win the next election and the magic money tree dries up.
The 28 recommendations in the report largely validate the criticisms but again attention has been deflected to what the MP said rather that acknowledging the errors and short comings.
Mr Houchen has now admitted that the criticisms of his conduct have caused businesses to avoid the Tees Valley and this has surely impacted on our airport.
The national press and TV news chanels are highlighting the 28 recommendations and this is what those with the cheque books will see.
It's not and never has been a witch hunt but there needs to he a response to the report that persuades future potential investors in Teesworks and the Airport that Mr Houchen can be trusted afterall especialy if Labour win the next election and the magic money tree dries up.
Agreed - the headline is "no corruption" but the length of the list of the recommendations and the wording used in the summary is telling. I haven't looked at the full report, but reportedly that is even more damning.
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The list of Recommendations were probably long so as to put you off reading the whole report, I've read the report and it paints a very different picture, it clearly shows Houchen's attitude to running the TVCA, which was dictatorial, lack of consultation and very dysfunctional, sure there is no hint of corruption, but the report is an eye opener, this will likely have a long term effect, his fans see this report as being a victory for the mayor but his critics are now further convinced that he is the villain, so that's were we are. !
Big advertising write up in the Echo, promoting the South Side Business Park and extolling the benefits of moving there.
Anyone know how many companies have moved in so far..and more to the point for the airport..aviation related?
Anyone know how many companies have moved in so far..and more to the point for the airport..aviation related?
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TIA have appointed two agents, both show it's still available and that the warehouse can be split into two halves, and in the first phase there will be 4 units, thereafter land will be available for lease for clients to build their own warehouse, it's interesting that the road isn't finished, is it still be worked on and is there anything going on at the warehouse area ?
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The sheds started to be offered for sale or rent a couple of years ago. The contractors pulled off the incomplete site before Christmas and the foreman told the farmer and the regulars down there that the plan was to only build more units when tenants or owners came forward. No obvious activity currently although Lord H promised the first tennant early in the new year. As of a fortnight ago the farmer had still not been paid.
The site over the road opposite the hems base was occupied as soon as the units were completed which must be worrying.
Being in the Freeport zone is generally quoted as being the reason for the apparent lack of interest but could it be the fear of being associated with Lord H as a couple of businesses interested in the Teesworks have publicly stated that this is why they have gone elsewhere and he admitted as much this week.
The site over the road opposite the hems base was occupied as soon as the units were completed which must be worrying.
Being in the Freeport zone is generally quoted as being the reason for the apparent lack of interest but could it be the fear of being associated with Lord H as a couple of businesses interested in the Teesworks have publicly stated that this is why they have gone elsewhere and he admitted as much this week.
Last edited by Grumpy1; 31st Jan 2024 at 20:53.
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The sheds started to be offered for sale or rent a couple of years ago. The contractors pulled off the incomplete site before Christmas and the foreman told the farmer and the regulars down there that the plan was to only build more units when tenants or owners came forward. No obvious a activity currently although Lord H promised the first tennant early in the new year. As of a fortnight ago the farmer had still not been paid.
The site over the road opposite the hems base was occupied as soon as the units were completed which must be worrying.
Being in the Freeport zone is generally quoted as being the reason for the apparent lack of interest but could it be the fear of being associated with Lord H as a couple of businesses interested in the Teesworks have publicly stated that this is why they have gone elsewhere and he admitted as much this week.
The site over the road opposite the hems base was occupied as soon as the units were completed which must be worrying.
Being in the Freeport zone is generally quoted as being the reason for the apparent lack of interest but could it be the fear of being associated with Lord H as a couple of businesses interested in the Teesworks have publicly stated that this is why they have gone elsewhere and he admitted as much this week.
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Think its others who have mainly stood up for the farmer and his family who are lovely folks and have always been welcoming to enthusiasts. I dont have permission to report beyond what has be said already.
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Looking back at the recent airport accounts I am still struggling to make sense of them
THe. Passenger airport fee at Teesside is £23.50 so they had very appropriately, 100000 extra passengers so an additional,£2.35 m turnover, but claimed the turnover was up by £7.5m, so we have an increase £5m unaccounted for.
In the previous year the fees from passengers was v.approx £2.35 m from a turnover of £7.5 ...so other sources were around £5m
Current accounts passenger fees £4.7m from £15 m turnover
Which means the difference went up from £,5.15 m to £10 m
Maybe 5% more in rents and services and at most _£0.5m in extra car park and food etc but that still leaves £4m, where did that come from ,
There seems to be some imaginative accounting, I did ask but no answer , has our secretive mayor made a undesclosed sale ? Or has anyone any ideas ?
THe. Passenger airport fee at Teesside is £23.50 so they had very appropriately, 100000 extra passengers so an additional,£2.35 m turnover, but claimed the turnover was up by £7.5m, so we have an increase £5m unaccounted for.
In the previous year the fees from passengers was v.approx £2.35 m from a turnover of £7.5 ...so other sources were around £5m
Current accounts passenger fees £4.7m from £15 m turnover
Which means the difference went up from £,5.15 m to £10 m
Maybe 5% more in rents and services and at most _£0.5m in extra car park and food etc but that still leaves £4m, where did that come from ,
There seems to be some imaginative accounting, I did ask but no answer , has our secretive mayor made a undesclosed sale ? Or has anyone any ideas ?
I think you trying to knit with fog as there are so many variables - for example, do you really think Ryanair and KLM are paying the 'walk-up' price which is published? Then there are other factors like fuel sales (prices higher etc)
On a seperate point, these are EBITDA figures - sure I've ready that interest was £4m in the previous year, so more money borrowed and higher interest rates probably wipes out any profit.
On a seperate point, these are EBITDA figures - sure I've ready that interest was £4m in the previous year, so more money borrowed and higher interest rates probably wipes out any profit.
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Yes I appreciate what you say, and there are many variables but for me the gap is too large, and information is just not available, so I just think something is hidden
The passenger fees are a little higher than average but not much, I have found airports seem to be not keen to divulge any more info than necessary , and I really don't like EBITDA accounting, it doesn't give a true picture of a companies position
The passenger fees are a little higher than average but not much, I have found airports seem to be not keen to divulge any more info than necessary , and I really don't like EBITDA accounting, it doesn't give a true picture of a companies position
Just looking at the great Teesside movement web site.
Especially Saturdays…Recently no flights after 12 ish…how much does it cost to keep a fully functioning airport open..if nothing is happening or generating cash?
Especially Saturdays…Recently no flights after 12 ish…how much does it cost to keep a fully functioning airport open..if nothing is happening or generating cash?
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EBITDA gives an excellent financial position. Primarily, it tells you the trading profit excluding depreciation and amortisation (which are costs from the past) and interest (which whilst a real cost/income, is not reflective of trading).
Few companies, regardless of sector disclose more than they are required to by law. One of the reasons for this is it gives away your hand to potential customers, suppliers and competitors and takes away any negotiating power you have.
There are strict, legally binding accounting rules in place, verified by independent auditors.
So unless Bill you know something we don’t, I’d strongly suggest we quit with unhelpful conspiracy theories.
Few companies, regardless of sector disclose more than they are required to by law. One of the reasons for this is it gives away your hand to potential customers, suppliers and competitors and takes away any negotiating power you have.
There are strict, legally binding accounting rules in place, verified by independent auditors.
So unless Bill you know something we don’t, I’d strongly suggest we quit with unhelpful conspiracy theories.
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Anyone got anything constructive to say today?? 🙄🙄🙄🙄
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EBITDA gives an excellent financial position. Primarily, it tells you the trading profit excluding depreciation and amortisation (which are costs from the past) and interest (which whilst a real cost/income, is not reflective of trading).
Few companies, regardless of sector disclose more than they are required to by law. One of the reasons for this is it gives away your hand to potential customers, suppliers and competitors and takes away any negotiating power you have.
There are strict, legally binding accounting rules in place, verified by independent auditors.
So unless Bill you know something we don’t, I’d strongly suggest we quit with unhelpful conspiracy theories.
Few companies, regardless of sector disclose more than they are required to by law. One of the reasons for this is it gives away your hand to potential customers, suppliers and competitors and takes away any negotiating power you have.
There are strict, legally binding accounting rules in place, verified by independent auditors.
So unless Bill you know something we don’t, I’d strongly suggest we quit with unhelpful conspiracy theories.
https://www.wallstreetprep.com/knowl...other%20issues.
I'll stick with Warren Buffett