Jump to content

Council ploughs £725,000 into beleaguered Whalsay fish firm


paulb
 Share

Recommended Posts

i can see this as a positive move. but I'm concerned that they are using none shetland salmon.

I won't moan that they seem to be able to pour tonnes of cash into this sector but not into crofting/meat production because im sure the jobs are needed.

 

has this firm or one of its previous versions cost us anything.

Link to comment
Share on other sites

  • Replies 53
  • Created
  • Last Reply

Top Posters In This Topic

Bailouts

 

"If we don't spend some money to keep this historically successful business going long enough to restructure we are going to have to pay for the unemployed in perpetuity or watch them depart the isle permanently."

 

Track record.

Social and commercial planning.

Link to comment
Share on other sites

If there is a demand, there shouldn't be much of a problem.

 

If there isn't a demand, hence why the business is stumbling drunk, then why should there be a business at all? No need to prop up, with tax payers money, a business that doesn't have a demand to match the money they need.

 

If there is a gap in the market created by perceived failure, it is unlikely to be filled.

If Ford failed, you can guarantee that would totally grab the opportunity, they wouldn't run away from it.

Link to comment
Share on other sites

Ford aren't based in Whalsay.

 

As you say, if there is a demand, and this funding provides working capital, there shouldn't be a problem.

 

Their accounts would have displayed any trend, their business plan would have provided any solution. If their plan was rubbish, and their downward trend insurmountable, only a muppet would give them this amount of money for a temporary fix. I'm of the belief that it probably wasn't a muppet that handed it over. Time will tell.

Hard nose business principles become complicated in the face of long term social and financial costs in a rural situation. Look what happened to the smokehouse, success to failure in one seemingly optimistic, but probably tactical, buyout. Who foots the bill for the closure at the end of the day?

Link to comment
Share on other sites

its worth the risk for the jobs.

 

but you do have to ask why they are willing to loan cash to failing firms no commercial bank would. with the slaughterhouse loan and this one i hope they are employing some form of security.

 

if its going to fail then its pointless throwing the money at them if there is a more than 50% chance of it surviving then give it a go.

 

if they are not using local fish then are they going to be able to compete against the other fish firms. im just thinking of all the transport costs.

Link to comment
Share on other sites

it not tax money. its just as much yours as everyone else's. but if it does keep the jobs on the island its worth it. there is enough pressure to depopulate the outer islands. now i hope that they are not stupid enough to throw it away but nowt would surprise me.

Link to comment
Share on other sites

If there is a demand, there shouldn't be much of a problem.

 

If there isn't a demand, hence why the business is stumbling drunk, then why should there be a business at all? No need to prop up, with tax payers money, a business that doesn't have a demand to match the money they need.

 

 

I know two builders who went under recently who both had good long standing businesses both of which had good reputations and hired 30 guys between them. Demand or lack of it wasn't the issue, people not paying them was the issue and creditors demanding payment when cashflow had dried up. If they had been based in Shetland they might have been helped out by the S.I.C but I imagine the howling of people screaming about bail outs and unviable stumbling drunks would put a stop to it, not every business that goes under is managed by people who don't know what they are doing some are victims of the wider economy and sleekit bams who decided not to pay for the services they receive.

 

Maybe some of you should think about your attitudes to helping out businesses because not everyone who asks for help is guilty of mismanagement, negligence or stupidity.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share


×
×
  • Create New...