islandhopper Posted November 7, 2008 Report Share Posted November 7, 2008 Too late, the Germans are ready to nick it, as soon as it reaches Denmark May be ... A fact is that some clever chaps of the KFW Bank transfered 320 Mio € to Lehman Brothers the morgning when Lehman declared to be bancrupt only 4 hrs later ... Now the are a bit short and knocking at the doors of all those who probably are a bit late in paying back their credits ... Link to comment Share on other sites More sharing options...
daveh Posted November 7, 2008 Report Share Posted November 7, 2008 Anyone can make a mistake. Link to comment Share on other sites More sharing options...
paulb Posted November 7, 2008 Report Share Posted November 7, 2008 its true im always dropping the odd 1/4 billion down the back of the chair. Look shetland claims a viking ancestry so we should go and do a bit of the traditional cultral activty lets go a viking the long boats still afloat we just need a couple of dozen hardy types willing to row over to were the boat is. Link to comment Share on other sites More sharing options...
david Posted November 7, 2008 Author Report Share Posted November 7, 2008 Speaking to someone connected with a tourist attraction in Shetland recently they told me that business is down this year and they put it down to lack of Norrona. Bit of a shame really. Link to comment Share on other sites More sharing options...
fartypants Posted November 7, 2008 Report Share Posted November 7, 2008 Down to the Norrona David?????...how do you figure that out most of the folk who were on the Norrona were never ashore and as for the shops Tirvaluk i have never heard off any shop open in Lerwick late at night or the early hours off the mornoing when the white elephant was in Lerwick Link to comment Share on other sites More sharing options...
Ghostrider Posted November 7, 2008 Report Share Posted November 7, 2008 I would not say to much about it the council might invest more money into it. It is the silly thing that Lord Cluness of kamikaze would do for gain Exactly! I'm surprised they haven't already bought the company, or at least the boat. Link to comment Share on other sites More sharing options...
MuckleJoannie Posted November 7, 2008 Report Share Posted November 7, 2008 Speaking to someone connected with a tourist attraction in Shetland recently they told me that business is down this year and they put it down to lack of Norrona. Bit of a shame really. I heard from one restuarant in Lerwick that they used to get a bit of trade on nights the Noronna called from people who were wating to go on it. I also used to notice a few vehicles with foreign registrations around at the same time. Presumably these people were in transit between the Noronna and the North boat. I also believe the Noronna was popular with illegal immigrants due to the lax Customs controls at Lerwick. Link to comment Share on other sites More sharing options...
Marooned in Maywick Posted November 8, 2008 Report Share Posted November 8, 2008 Surely when we invested £4M (or whatever it was) we'd've got shares in the company?Can't we just sell them?Even if it does mean a monumental loss at least we'd get a few £ for them. Or have I completely missed the point somewhere? Link to comment Share on other sites More sharing options...
paulb Posted November 8, 2008 Report Share Posted November 8, 2008 they re funded themselves so our shares are not worth the 4 million plus they are on the verge of going bust. so we would lose most of it. Link to comment Share on other sites More sharing options...
Marooned in Maywick Posted November 8, 2008 Report Share Posted November 8, 2008 Any idea how much our investment is worth? Do we still have a seat on the board (if we ever did - something tells me we did, though I could be wrong) and if so what do we get out of it? Link to comment Share on other sites More sharing options...
MuckleJoannie Posted November 8, 2008 Report Share Posted November 8, 2008 It would appear from this Shetland Development Trust press release that Bobby Hunter is a Smyril director. http://www.sdt.shetland.org/PR02July07.aspx I seem to mind that the Development Trust tried to sell its shares but nobody wanted them. Link to comment Share on other sites More sharing options...
tirvaluk Posted November 9, 2008 Report Share Posted November 9, 2008 You just need to ask any of the local shopkeepers how much there trade is down since the Norrona stopped coming.And the amount of foreign cars you could see, was a lot more than a few Jonie, I counted 30 from Sumburgh to Lerwick on one day.It's true that some illegal immigrants found the Norrona a great method to enter GB, But they were all caught.Most of them thought this was Iceland and they got off,to try and get to America. Link to comment Share on other sites More sharing options...
BigMouth Posted November 9, 2008 Report Share Posted November 9, 2008 But have they lost £4,000,000 in business yet? Link to comment Share on other sites More sharing options...
Ghostrider Posted November 9, 2008 Report Share Posted November 9, 2008 Local businesses may or may not have lost trade by the boat no longer calling, I don't know, I don't have knowledge of the before/after figures. However, if achieving whatever trade came with her was only at the expense of throwing money repeatedly at a bottlemless pit, Shetland as a whole was actually losing, only the few businessess saw any benefit, the rest of us only saw yet one more doomed business sucking from a fast depleting communal kitty. The Charry Trust investment in the company ended up being one where again only a handful of local businesses benefitted at the cost of everyone else, there was no hope of a direct return on the investment in either the short or medium terms, and by all appearances little chance of ever seeing any of the money back. The Charry trust might as well have cut out all the foreign middle men right from the start, and just given an annual grant to those few businesses which benefitted from the boat's presence, it would have ended up with the same bottom line as we have today. Link to comment Share on other sites More sharing options...
umph Posted November 9, 2008 Report Share Posted November 9, 2008 weel Tirvaluk i wirk on da bressay ferry and there's been a lot o foreign cars we tourists coming ower tae bressay fur a look dis summer mibby dir come through scrabster on da WHITE ELEPHANT Link to comment Share on other sites More sharing options...
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