Another Celebrity Chef in the Stew

Alan_M_2

dacouch wrote: »

My heart bleeds for wozza

http://news.scotsman.com/uk/TV-chef-cooks-up-earnings.4214355.jp

Bit of a hypocrite me thinks

I doubt very much that He's earning £60M....that looks like pure nonsence to me.

He might be endorsing products in an industry segment with £60M annually and as a result of his picture and name being used get a few pennies off the sale of each item...but £60M you've got be kidding.

This is the same kind of reporting that manages to pin Plumbers on £150K a year based on the fact they earn £75 and hour, x 8 hours x 5 days x 52 weeks....i.e. absolutely baseless in most cases.

Consider this...if He'd earned anywhere near £60M why would a bank be asking him for security of his house for a £200K extension of facilities?

Sir_Humphrey

Alan_M wrote: »

I doubt very much that He's earning £60M....that looks like pure nonsence to me.

He might be endorsing products in an industry segment with £60M annually and as a result of his picture and name being used get a few pennies off the sale of each item...but £60M you've got be kidding.

This is the same kind of reporting that manages to pin Plumbers on £150K a year based on the fact they earn £75 and hour, x 8 hours x 5 days x 52 weeks....i.e. absolutely baseless in most cases.

Consider this...if He'd earned anywhere near £60M why would a bank be asking him for security of his house for a £200K extension of facilities?

Exactly. Journalists are to numeracy what EAs are to honesty. When I used to work in govt stats, I had stats I helped produce put in the papers which were misreported or misinterpreted.

Thrugelmir

Alan_M wrote: »

I doubt very much that He's earning £60M....that looks like pure nonsence to me.

He might be endorsing products in an industry segment with £60M annually and as a result of his picture and name being used get a few pennies off the sale of each item...but £60M you've got be kidding.

This is the same kind of reporting that manages to pin Plumbers on £150K a year based on the fact they earn £75 and hour, x 8 hours x 5 days x 52 weeks....i.e. absolutely baseless in most cases.

Consider this...if He'd earned anywhere near £60M why would a bank be asking him for security of his house for a £200K extension of facilities?

Agree with your comments. Appears that a fuller article has been shortened changing the way it reads. 60M would appear to refer to value of products endorsed. Though would still earn a 6 figure salary for the endorsement.

Generali

fc123 wrote: »

Still feels better writing it out though...even if you delete it after .

We have been number crunching the past few weeks and putting various scenarios into the sums. A chunk of our problems have been caused by situations/people/things way out of our control......and I have finally accepted the rubbish stuff that I cannot possibly change (but can have the odd rant about over here late at night).

This cleared the way for the making decisions over the things I can change...and it's going to be really hard going through with it all....but then I look at the figs and know that it is the only solution.

I wish you well Alan....we were with Lloyds during the 90's and they were cr4p. We once had the small biz mngr down (fresh from the Lloyds school of business theory) who couldn't get her head around what we did. She stood there surrounded by 5 tonnes of vintage clothing.
I showed her an order being sent to Japan bla bla and she stood there, clad in High St Polyester and said '' Who on earth buys this stuff?''. She refused to believe that we could T/0 about £400k pa on what I showed her. She also didn't believe that Japan paid us so much per item as she said that the country was 'broke'. This was mid 90's.

Thereafter, she was really difficult, a few times 'phoning my OH to ask about large sums going into the account. I think she had had a class on money laundering and was convinced we were up to something.....perhaps she got a prize if she caught someone?

Anyway, I hope you do find a solution.......I will post in a few weeks our end result.

Thanks for the post - I find your writing fascinating.

The prize for catching someone money laundering is not spending 14 years in gaol and in addition not paying an unlimited fine. That's impressed on you strongly, yearly if you work for a bank regulated by the FSA.

zarazara

So why wouldnt AWT use his own house as collatoral? he can hardly blame the banks for not lending if he wont even lend to himself. maybe he doesnt have enough equity though? anyone know?

Thrugelmir

zarazara wrote: »

So why wouldnt AWT use his own house as collatoral? he can hardly blame the banks for not lending if he wont even lend to himself. maybe he doesnt have enough equity though? anyone know?

Lack of confidence in their own business plan.

Why risk your own money?

I used "their" as I suspect that he fronts a group of investors.

bo_drinker

zarazara wrote: »

So why wouldnt AWT use his own house as collatoral? he can hardly blame the banks for not lending if he wont even lend to himself. maybe he doesnt have enough equity though? anyone know?

Why risk his own nest when his adviser has re mortgaged to save his bacon. I see his endorsed saucepans are available at less than 30 pounds a set. Wouldnt give 30p they are cr4p.

Sir_Humphrey

Or maybe as someone in his late 50s, he did not want to risk losing his family home.

zarazara

what about his employees?they might loose their homes.

Kev09

I read in the paper a while back the AWT's daughter was going out with that Steve Jones guy from C4 sunday mornings, id be more woirried about that if I was Anthony!!!!