http://citycyclingedinburgh.info/bbpress/ CityCyclingEdinburgh Forum » Topic: OT: Owner of the Scotsman and i newspapers enters administration en Thu, 21 May 2026 12:33:54 +0000 http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295993 Sun, 18 Nov 2018 12:40:46 +0000 chdot 295993@http://citycyclingedinburgh.info/bbpress/ <p><a href="https://twitter.com/wornoutmumhack/status/1063805903915360256" rel="nofollow">https://twitter.com/wornoutmumhack/status/1063805903915360256</a> </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295992 Sun, 18 Nov 2018 12:13:12 +0000 Stickman 295992@http://citycyclingedinburgh.info/bbpress/ <p>In theory you can back your annuities with almost any asset. The more mismatched or uncertain the asset/liability cash flows means having to hold higher additional capital so gilts tend to be more atttactive. Gilts will make up some of the backing assets, but corporate bonds and other assets (eg PFI type loans) make up a large proportion. The final choice will be driven by the overall financial strength, attitude to risk and sophistication of the insurer. (This is pretty much my day job, so I could bore at length on this). </p> <p>The move to issuing longer dated gilts is in part to provide insurers with suitable assets for backing annuities, but it could be argued that some of the regulations give governments guaranteed buyers of their debt. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295991 Sun, 18 Nov 2018 10:01:26 +0000 I were right about that saddle 295991@http://citycyclingedinburgh.info/bbpress/ <p>@Nelly</p> <p>I was thinking primarily of tax relief on the purchase price, but would annuities be possible without the Treasury instruments that back them? Are those instruments issued specifically for that purpose? </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295980 Sat, 17 Nov 2018 21:11:00 +0000 crowriver 295980@http://citycyclingedinburgh.info/bbpress/ <p>@Greenroofer, also another story about a business being crippled by paying off debts at fairly high interest rates to bondholders: who now own the company it seems. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295977 Sat, 17 Nov 2018 20:09:35 +0000 Nelly 295977@http://citycyclingedinburgh.info/bbpress/ <p>State subsidies abound in the UK pension system? </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295974 Sat, 17 Nov 2018 19:59:57 +0000 I were right about that saddle 295974@http://citycyclingedinburgh.info/bbpress/ <p>The whole UK pension system is a wreck. Ditto for company ownership rules. Predators and state subsidies abound in both and not by coincidence. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295969 Sat, 17 Nov 2018 18:50:53 +0000 Nelly 295969@http://citycyclingedinburgh.info/bbpress/ <p>@greenroofer - the PPF is paid for by a levy on other occupational pension schemes</p> <p>That apart, I agree with your sentiment - what the board have done is legal but morally questionable. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295967 Sat, 17 Nov 2018 17:58:03 +0000 Greenroofer 295967@http://citycyclingedinburgh.info/bbpress/ <p>@crowriver - especially the bit about the pension fund. It seems they've left that to us to pick up. This happens all too often now. </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295963 Sat, 17 Nov 2018 16:39:53 +0000 crowriver 295963@http://citycyclingedinburgh.info/bbpress/ <p>Douglas Fraser's take on all this makes for fairly grim reading:</p> <p><a href="https://www.bbc.co.uk/news/uk-scotland-scotland-business-46246691" rel="nofollow">https://www.bbc.co.uk/news/uk-scotland-scotland-business-46246691</a> </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295958 Sat, 17 Nov 2018 11:26:21 +0000 gembo 295958@http://citycyclingedinburgh.info/bbpress/ <p>@iwrats - 1824?</p> <p>Meanwhile Saturday guardian this week has gone to live in Porty. Porty People missed a trick as did Michael Bentine's Porty Time (@wingpig says I look like him). Also fecked up the school bit. But big advert for The Espy </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295953 Sat, 17 Nov 2018 09:37:39 +0000 I were right about that saddle 295953@http://citycyclingedinburgh.info/bbpress/ <p>When was the last time anyone learned anything by reading the Scotsman or the Evening News? </p> http://citycyclingedinburgh.info/bbpress/topic.php?id=19283#post-295951 Sat, 17 Nov 2018 09:30:33 +0000 wingpig 295951@http://citycyclingedinburgh.info/bbpress/ <p><a href="https://www.theguardian.com/business/2018/nov/16/owner-of-the-scotsman-and-i-newspapers-enters-administration?CMP=Share_AndroidApp_Copy_to_clipboard" rel="nofollow">https://www.theguardian.com/business/2018/nov/16/owner-of-the-scotsman-and-i-newspapers-enters-administration?CMP=Share_AndroidApp_Copy_to_clipboard</a></p> <p>"The company said that it had received offers for parts of its business – the owner of the Daily Mail had considered a bid for its crown jewel asset, the i – but “none of the offers received delivered sufficient value” to save the company." </p>