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Bloo Loo

How To Get On The Asian Business Awards

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Just listening to R4, and there was an article on the 2013 rich list.

recently a branch of B&M stores have opened here...apparently they sell things cheap.

The two brothers running the thing are now one the Rich list, worth over a Billion.

How did they do this..

Home secretary Theresa May, who was the chief guest, launched the latest edition of the Asian Rich List 2013 in the presence of an 800-strong audience comprising captains of industry, self-made millionaires, billionaires and top politicians. The list is a compilation of the top 101 wealthy British Asians, and this year the Hinduja brothers beat ArcelorMittal's Lakshmi Mittal to the top spot, with a wealth estimated at £12.5billion.

On the evening, a dozen entrepreneurs walked away with the prestigious Asian Business Awards, with the coveted Asian Business of the Year going to discount retailer B&M Stores, run by brothers Simon, Bobby and Robin Arora.

"We are here to celebrate the success of business people," May said.

"No one here started by being on a rich list, you made it by the sweat of your brow.

"Thank you to all that you do to contribute to our economy."

Sadly, Theresa May is misleading up on the success of the brothers. Their turnover was 900m last year from 300 odd stores...they bought the business with debt in 2005, and sold a majority share to a US PE firm in December 2012...itself issuing debt to do the deal, valuing the business at over £1bn.

In March 2013, Barclays have agreed to issue further debt of £25m revolving debt.

SO, this is how you help the economy....load up a ton of debt, sell products at low low margins, employ minimum wage staff and declare the entire value of the firm ( as sold to a US PE firm) as your value.

I suspect Schroedingers Fat Cat is at work here.

Edited by Bloo Loo

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I thought you were going to say: Come from a very elite Indian family and build up a huge industrial company, using family business, insider deals and cheap labour. Once you are a billionaire, buy a house in Kensington and then win the British Asian business awards.

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Isn't it a bit wascist have an "Asian Business Awards. " A bit like having a Black Police Federation?

Sure no one will object when I start my White Business Awards scheme. rolleyes.gif

#justsaying

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Isn't it a bit wascist have an "Asian Business Awards. " A bit like having a Black Police Federation?

Sure no one will object when I start my White Business Awards scheme. rolleyes.gif

#justsaying

I dont think they can legally stop you from being a candidate/member, as much as they might like to. Obviously calling it the 'black police federation' isnt the most inclusive sounding name though.

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Isn't it a bit wascist have an "Asian Business Awards. " A bit like having a Black Police Federation?

Sure no one will object when I start my White Business Awards scheme. rolleyes.gif

#justsaying

This is a good point....I hadnt thought about this aspect, but it seems Diversity has gone mad...I mean, arent these English or British People?

:(

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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