Jump to content
House Price Crash Forum

Localised HPC in Whitby? (Sirius Minerals)


Recommended Posts

Sirius Minerals' shareholders have finally been put out of their misery at 5.5p.

The BBC has a sob story.

Sirius Minerals: Yorkshire investor loses £24k of pension

Quote

Nigel Howard, 75, wanted to support a potential lifeline for his local economy when he cashed in his entire £30,000 pension pot to buy shares in Sirius Minerals, the company behind the project.
But his financial hopes were shattered after a rescue takeover by Anglo American was agreed with a big drop in share value.

A retired property developer, Mr Howard, from Northallerton, put his money into Sirius when the company was growing and shares were trading at 24p.

...

Another shareholder Luke Faichney, who has also lost money, said he knew of people who had remortgaged their homes and borrowed large amounts of cash to invest.

(My emphasis.)

There's no fool like an old fool.  Will this lead to repossessions?

 

Link to post
Share on other sites

God knows.

The thing that jumped out was:

Nigel Howard, 75, wanted to support a potential lifeline for his local economy when he cashed in his entire £30,000 pension pot to buy shares in Sirius Minerals, the company behind the project.

A Yorkshire Donald Trump with a 35k pension pot ..... My 14yo has more than that in his Child ISA.

The pension pot might be explained by the fact local prices have not really gone anywhere for over 15 years.

I know of a few people whove put substantial sums i.e. most oftheitr life savings into the shares. Ive hard of some people whove actually borrowed a few 10k to invest.

Iev spent the last ~5 years telling these people not to do it, till Im blue in the face.

My take has always been that Sirius was somewhere between a very high risk venture and a total con. Either way, the best outcome was always the initla equity getting destroyed by rights issues.

No ffer listens to me.

I feel sorry for Luke. Hopefully hes not put too much in, young family n all.

In a sad irony, he used to work for Scabby BS, who moved into a shiny new HQ 2 year before blowing up on a junk mortgage book.

https://www.insidermedia.com/news/yorkshire/deal-agreed-for-former-scarborough-building-society-site

Here's the best bus in the world. Absolute world beater, great product,truly fantastic product:

enviro400-9.jpg?height=850&mode=crop

The body work/assembling happens in Scarborough. The engines are made  up the road in Darlo by Cummins.

The bus company provides the sort of jobs that Sirius and all its promoters made such a fuss for - well paying, mid skilled local jobs.

See that building in the background?  Thats Sirius HQ ....

I should add that Ive never seen any media article, no local making a big thing about investing in AD to support local jobs, no comments about about AD world beating product or BOD.

 

As far as properdee - Scaborough appears to have the highest focus of local idiot over leverage IO BTLs going. I keep bumping into local small businesspeople who are carrying 2m-3m of debt secure on flop houses.

Whitbys different. Every other property feature in the yorkshire post is some bint buying a holiday let in whitby - captains rest, spyglass ,seagull cottage, mariners cottage, sailors VD ...

I would guess that 30-50% of sales over the last 20 years has been holiday lets or 2nd homes.

None make any money.They are lucky to cover costs.

Also, none pay any tax, so the services are shouldered b ythe local tax payer.

Theres an upcoming HRMC change will will see the rating of holiday lets change. Hopefully this will charge them business rates. Or at least 2x council tax.

 

 

 

 

 

Link to post
Share on other sites

Siting here with my cat on my lap watching HUTH, this thread had made my day. What fools these people have been. I worked for the NCB I had a gut feeling this would end in tears. I am with Hargreaves Lansdown and on their site have a most viewed shares feature. Sirius was always on that page  . It also got a lot of favourable coverage in the Daily Mail.  The next one to go will be Aston Martin.

I worked with a guy who thought of himself as a bit of  a "investor" I think hes bought  about 5k worth of Sirius .

 He was a big Brexiter we often had words about it.

 

Link to post
Share on other sites

Bloody daft of them, it's true, but considering the general attitude of this site I'd expect a bit more sympathy towards people who wanted a large development on their doorstep and were engaged in it.

Link to post
Share on other sites
5 hours ago, spyguy said:

God knows.

The thing that jumped out was:

Nigel Howard, 75, wanted to support a potential lifeline for his local economy when he cashed in his entire £30,000 pension pot to buy shares in Sirius Minerals, the company behind the project.

A Yorkshire Donald Trump with a 35k pension pot ..... My 14yo has more than that in his Child ISA.

The pension pot might be explained by the fact local prices have not really gone anywhere for over 15 years.

I know of a few people whove put substantial sums i.e. most oftheitr life savings into the shares. Ive hard of some people whove actually borrowed a few 10k to invest.

Iev spent the last ~5 years telling these people not to do it, till Im blue in the face.

My take has always been that Sirius was somewhere between a very high risk venture and a total con. Either way, the best outcome was always the initla equity getting destroyed by rights issues.

No ffer listens to me.

I feel sorry for Luke. Hopefully hes not put too much in, young family n all.

In a sad irony, he used to work for Scabby BS, who moved into a shiny new HQ 2 year before blowing up on a junk mortgage book.

https://www.insidermedia.com/news/yorkshire/deal-agreed-for-former-scarborough-building-society-site

Here's the best bus in the world. Absolute world beater, great product,truly fantastic product:

enviro400-9.jpg?height=850&mode=crop

The body work/assembling happens in Scarborough. The engines are made  up the road in Darlo by Cummins.

The bus company provides the sort of jobs that Sirius and all its promoters made such a fuss for - well paying, mid skilled local jobs.

See that building in the background?  Thats Sirius HQ ....

I should add that Ive never seen any media article, no local making a big thing about investing in AD to support local jobs, no comments about about AD world beating product or BOD.

 

As far as properdee - Scaborough appears to have the highest focus of local idiot over leverage IO BTLs going. I keep bumping into local small businesspeople who are carrying 2m-3m of debt secure on flop houses.

Whitbys different. Every other property feature in the yorkshire post is some bint buying a holiday let in whitby - captains rest, spyglass ,seagull cottage, mariners cottage, sailors VD ...

I would guess that 30-50% of sales over the last 20 years has been holiday lets or 2nd homes.

None make any money.They are lucky to cover costs.

Also, none pay any tax, so the services are shouldered b ythe local tax payer.

Theres an upcoming HRMC change will will see the rating of holiday lets change. Hopefully this will charge them business rates. Or at least 2x council tax.

 

 

 

 

 

do they still make the chassis up in Guildford ?

Link to post
Share on other sites
15 minutes ago, longgone said:

do they still make the chassis up in Guildford ?

Not sure.

Coachbuilding is what was Plaxtons, mainly in Scabby.

Engines come down from Darlo from Cummins.

Chassis is 'volvo'. Im not sure where they are sourced, geogrphically.

Id have thought Guildford was too far away and to expensive to make sense.

https://en.wikipedia.org/wiki/Volvo_B7TL

Sweden. Apparently.

 

Link to post
Share on other sites
4 minutes ago, spyguy said:

Not sure.

Coachbuilding is what was Plaxtons, mainly in Scabby.

Engines come down from Darlo from Cummins.

Chassis is 'volvo'. Im not sure where they are sourced, geogrphically.

Id have thought Guildford was too far away and to expensive to make sense.

https://en.wikipedia.org/wiki/Volvo_B7TL

Sweden. Apparently.

 

https://www.alexander-dennis.com/media/news/2019/may/popular-open-day-at-alexander-dennis-in-guildford-raises-1-600-for-charities/

Link to post
Share on other sites

He's an idiot for investing all that money in one company but I strongly doubt he's only put aside 30k for his retirement if he's a property developer. Sure it may only be in equity but it will no doubt have played a massive part in his retirement. 

Edited by spacedin
Link to post
Share on other sites
2 hours ago, “Nasty Piece of work” said:

Are you really suggesting this is the case, or are voices in your head telling you this?

Consider the amount of vitriol that gets spouted on this site every time someone opposes any sort of development then yes, I'd expect a different reaction when the locals support it. Although you live up to your name so not from you.

Link to post
Share on other sites
16 minutes ago, Riedquat said:

Note how I was talking about people in the area generally, not a specific individual like the one in the story.

 

If it showed someone supporting the local community, then they are to be applauded - it didn’t, therefore it doesn’t.  Just an “ex-property developer” failing to make money for himself.  Whinging that he lost.

Link to post
Share on other sites
17 hours ago, spacedin said:

He's an idiot for investing all that money in one company but I strongly doubt he's only put aside 30k for his retirement if he's a property developer. Sure it may only be in equity but it will no doubt have played a massive part in his retirement. 

Stranger n stranger.

https://www.postcodelottery.co.uk/winners/article/may-postcode-millions-2015

It looks to be the same person. Age adds up.

So, he was actually a chef/cook.

Won 330k on lottery, became a 'poperty developer'

 

 

Link to post
Share on other sites
On 05/03/2020 at 10:25, hughjass said:

Siting here with my cat on my lap watching HUTH, this thread had made my day. What fools these people have been. I worked for the NCB I had a gut feeling this would end in tears. I am with Hargreaves Lansdown and on their site have a most viewed shares feature. Sirius was always on that page  . It also got a lot of favourable coverage in the Daily Mail.  The next one to go will be Aston Martin.

I worked with a guy who thought of himself as a bit of  a "investor" I think hes bought  about 5k worth of Sirius .

 He was a big Brexiter we often had words about it.

Having just seen their new pig ugly SUV, sort of giant 2000ish Fiesta, I think you might be right.

Link to post
Share on other sites
23 hours ago, “Nasty Piece of work” said:

If it showed someone supporting the local community, then they are to be applauded - it didn’t, therefore it doesn’t.  Just an “ex-property developer” failing to make money for himself.  Whinging that he lost.

There was a lot of support from the local community for this project.

Link to post
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...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 417 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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.