Made the mistake of buying one of their printers....NEVER again..
473 posts • joined 7 Oct 2011
Made the mistake of buying one of their printers....NEVER again..
Is EMC a Bank?
Taking a 25% stake in the business is a bit of a saver....
Jon did a great job there....the business is however ripe for the plucking...
Question...why just US owned internet companies...what about all those large, medium and even small corporates, who like internet companies. mitigate their tax through legitimate practices. HP, for example, pays zero corporation tax in the UK.............
Cue the violin player...
The restitution hearing will determine this. Question one must ask is how unique is this? in other words, is this a common theme in supply chain orchestration?
So, suppliers had credit insurance so it's OK to fail.... pfft....odds are they didn't given recent filings. Point is, if distributors are struggling to make a profit, brokers further down the chain feel it even more. This one has been heading for a fall for three years.
Expect the inevitable....crash.
The issue here is quite simple. If, as a critical IT supplier to a business that suddenly goes down the pan into Administration, I am likely to have within my terms and conditions of supply a clause which will state that in the event of Insolvency or implied insolvency, I have a right to immediately cease supply.
If an Administrator wishes me to continue delivery in order that he (the Administrator), can maximise any recovery to fill his pockets and pay secured creditors, then he will have to put his hand into his own pocket and guarantee me payment for any ongoing supply. I may still be peeved that debt owed prior to Administration may not be paid and feel angry enough to stick two fingers up at any guaranteed future payment unless I can increase the charge to account for this.
I'm all for business recovery and continuity but there comes a point where the playing field has to be level and fair.
That's it then...bought by EMC soon...
Now there's a surprise....
Cuts inevitable and on the cards....as for numbers, just wait and see, but they'll be plenty.
8/10 Venture Capitalists (no matter what their size) know sweet FA about the business their money goes into. It's all generally a case of recommendation by others, copying others or taking a punt in the hope one several comes up trumps.
I've witnessed this in the channel, those heady days of dotcom and more recently with the arrival of cloud based technology, mobility and wearable tech.
Errr, give them time and they'll buy all of them.
Baffling how dim and slow some of these investors are at times...time will tell
Before that gap with HP decreases...mark my words...
Anything like the 'prompt payment code' initiated by Government is a load of bollocks. It just gets few headlines and gets buried...
Having said that, small or not have the balls to say no to 90 days or increase the charge accordingly to carry the cost.
Difficult times for Misco but others like them are not immune...
IBM's strategy has been astute, and successful...hope this will not reverse things.
True, but when buyers don't pay for kit and disappear, without paying VAT, what's to stop this kit being sold on again at a fantastic margin?
If you can't make money selling managed services, you may as well pack up and go home.
Ah, but they won't..and why should they?
Wasted breath....nothing will come of this and it'll be buried amongst many other pre-election posturing elements
Fact is most don't show profit in the UK and that is deliberate and because UK rules allow it. Instead of taxing perceived diverted profit, deal with the root cause. Simply taxing it sends a message of 'OK boys, I know this may hurt a little but I have to demonstrate I'm doing something and really....it won't hurt much at all'
This is not just Google, Amazon, Starbucks et al...it's almost every vendor and even extends to distributors too. They're all at it, and why not, if the rules allow it and it's not illegal?
I take it this was never going to be passed through to channel players, aka IBM resellers
Great result..would be useful to see a breakdown of revenue growth and profit. Clearly gained market share from others.
by 2030, we'll all be using telepathy....there...and there's no point replying coz I know what you're going to say. If you want my full report, it'll cost you just £5,000.
Plenty of leg room there to cut costs after this slurp at a high price.
Over here, they just 'do a deal' with HMRC in terms of tax to be paid...I believe there is some digging in Europe about major names paying too little tax in Luxembourg.. 'Luxleaks'
These MEP's wouldn't consider this if Google was a European business. Simple dislike of successful innovative technology companies that just happen to be US owned and global.
Always a good move to promote from within a successful business. It's success is down to people it employs.
Some crystal ball Nick Mcquire's got....I'd suggest it might be one of those that splurges white snow when shaken, obscuring the view somewhat.
What about the bods that paid them?
Never mind that, the boss's of Icelandic Bank are now serving terms for the fiddling they did...When are we going to see anyone over here in clink?
You mean in-house stuff never fails?
Re-organisation without redundo's is like toast without butter...
Bit much to suggest resellers sell this at a loss in order to lock in and see a 'lifetime return'. What time period quantifies as a 'lifetime return' and can a Reseller absorb or even accommodate the up front loss and for how long?. These are Resellers we're talking about not some puffed up big vendor with loads of cash in bank...
Surprise in some ways that this has not happened sooner. Still, a great achievement by Phil in growing the business the way he has without masses of debt.
Indeed true...but the packaging et al, still centres on a desire to shift the same stuff (that fewer people want)
Really surprised it's taken this long for Keltec to find a buyer. Felt it should have happened more than 6 years ago.
Irreversible decline...as a tech distributor that is?
Great contribution by Jonny over the years. After 20 years, good time to move on too.
Tough times in traditional distribution....
Mobility rises to the occasion...but margins here must equally be as tight as a gnat's bum..
Bought one for the wife just this week...perfect...she is in love with it. Light, easy to carry, no messy anti-virus to worry about and more joyously, no Microsoft updates to annoy her every day. Very fast login too..much faster than the HP laptop she had before.
With gross margins like these, Distribution appears to have moved full circle, or reverted to a core function - simple fulfilment and logistics, but with no room for error.