(((FrancesCoppola)))

(((FrancesCoppola)))


Forbes contributor, occasional FT blogger and author of the Coppola Comment finance & economics blog. Singer, musician and bank refugee. RT means Read This.

50472 followers  •  4971 follow  •  London  •   http://www.coppolacomment.com

Rachel Reeves calls on the #ThomasCook  board members to resign their non-executive directorships on other company boards. "You have a whole lot of learning to do, " she says.

Fankhauser says the head of the CIA for was responsible for keeping the Department of Transport informed about #ThomasCook  's deteriorating situation. Eh?

I don't think Mr. Fankhauser is being entirely honest. Nor Mr. Meysman. Looks to me like they have cooked up a strategy to pin the blame on everyone except them.

Now Fankhauser defends his salary. "I worked extremely hard". No doubt, but that's not a reason for a high salary. Lots of people work extremely hard, but they don't earn that sort of money. Though they don't crash companies, either.

Warren Tucker confirms that what is left of Fankhauser's bonus for 2017 (the only year he received a bonus) can be clawed back by the Official Receiver. Nearly half of it is already gone because it was paid in shares which are now worthless.

Reeves also calls on Peter Fankhauser to relinquish some of the money he has received as CEO. "You did not earn it," she says.

@Emmabarnett  @AmberRudd_MP  @bbc5livey 'know when I said that Rees-Mogg's decision now to support policies he described as "cretinous " when May proposed them smacked of sexism, I was accused of sexism myself....

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I am sick and tired of hearing ignoramuses like Bernard Jenkin claim that the Millenium bug didn't exist. IT DID. I worked on Y2K projects. We found bugs and we fixed them. It's because we did such a good job that people who weren't involved think there was never a problem.

Dear @BBC , you should not believe what you read in corporate press releases. The rescue plan for Thomas Cook was not £900m as the company said. It was £900m of new loans PLUS new equity of £450m PLUS conversion of £1.7bn of existing debt to equity (with a whopping haircut) 1/

Last year, I said that in the long term there could be a bright future outside the EU. I am now recanting. Brexit is bad, now and forever.

So I have been looking at Thomas Cook's books..... there is no way this is just a liquidity problem as the company is claiming. It's insolvent, and deeply so. We will know for sure in a few of hours, but imho it will go into liquidation not administration.

"In the five years from 2012 to 2016, #Carillion  paid out £217 million more in dividends than it generated in cash from its operations." (Parliamentary briefing paper). Imaginary profits don't provide hard cash. Carillion borrowed to pay those dividends....

If you had any understanding at all of WTO rules, you would know that in the event of no deal, the EU would have no choice but to introduce the checks described in this piece. Not to do so would violate international law. I suspect you DO know this, but prefer to lie.

You did some teaching as a doctoral candidate at Cambridge, and some teaching as a Fulbright Scholar at Harvard. But you have never held a university teaching post or done any significant academic research. You didn't even complete your doctorate. Universities are not schools.

Brexiteer warns investors to get their money out of the UK, then tells the UK to go for hard Brexit. cc #disasatercapitalism 

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