Taylor Wimpey hit by massive loss

stonethrower

Treadmill wrote: »

I would still regard Taylor Wimpey as a sucessfull business, all builders are struggling without exception. The housing market is cyclic, in a few years the directors will be minting it again and laughing about the 1.5 Billion loss in 2008 while they all quaff champers and get fat bonuses, just like the banks will.

Thats the reality of it

You're probably right although some may go bust

justpurchased

alared wrote: »

We`ve just had an eight year run of boominig house prices with the greedy builders forcing up prices and their profits at every chance.

How can this lot whine about loss of profits when they`ve made record profits for the past seven/eight years by ripping off Joe Public.
My heart beeds for them.

I don't think they ar whineing i think in business you always know the goodtimes won't carry on. You just dont know when it will stop.

alared

The phrase "rainy day" comes to mind here.

justpurchased

alared wrote: »

The phrase "rainy day" comes to mind here.

I agree but the merger got rid of that kitty.

alared

I thought the idea of a merger was to cut costs and create a big booming giant in the construction industry

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not to wreck and bankrupt it.

They couldn`t run a bath.

sdooley

They thought they were in the construction industry, they probably have a nice little construction business going on there, but they weren't they were in the landbanking business (the real landbanking, not the scam one).

Microstar_2

No wonder the country is in such a mess if people seriously think that TW is a successful business. The merger was very ill-judged and led to terrific destruction of value. No doubt the main motivation was bonuses for all concerned and I doubt most shareholders think its successful.

justpurchased

Microstar wrote: »

No wonder the country is in such a mess if people seriously think that TW is a successful business. The merger was very ill-judged and led to terrific destruction of value. No doubt the main motivation was bonuses for all concerned and I doubt most shareholders think its successful.

And if somone thinks a company just happens to get in the ftse 250 is not succesfull. As they said they face difficult times but to post a £1.5bn loss and not to have dissapeared shows that they are not unsucessful. How many other companies could do that. How many more builders could (or can) afford to write down there land by so much!

WTF?_2

justpurchased wrote: »

And if somone thinks a company just happens to get in the ftse 250 is not succesfull. As they said they face difficult times but to post a £1.5bn loss and not to have dissapeared shows that they are not unsucessful. How many other companies could do that. How many more builders could (or can) afford to write down there land by so much!

So you measure success by the ability to lose billions and still be afloat (so far, anyway)?

:rotfl:

By that measure, all those banks writing down tens of billions are doing phenomenally well.

This must be a wind-up

justpurchased

!!!!!!? wrote: »

So you measure success by the ability to lose billions and still be afloat (so far, anyway)?

:rotfl:

By that measure, all those banks writing down tens of billions are doing phenomenally well.

This must be a wind-up

No but a sucessfull company will survive a dowturn in its sector. it happens to all companies but you would not know yet being a uni boy.