Tuesday, April 14, 2009

HUH? "S&NPE manages tenanted pubs on behalf of Globe Pub Company and the Royal Bank of Scotland." OK then. That makes about 1,460 pubs, what about the other 1,200?

"The pubs are either on short-term leases or being operated by temporary management companies." All good examples of S&NPE's remarkable expertise at managing pubs then?

“These are pubs which for various historical reasons we directly own," said S&NPE property director Chris Moore. "Our business model is based on pub management and we are therefore simplifying our operations by selling them.” So, that kind of answers the 32 pubs what again, what about the 1,168 others it owns - 'for historical reasons'?

"blah blah blah"... "The pubs we are selling all have growth potential and offer real opportunities for purchasers to add value. This, combined with sensible prices, means we are expecting a good level of interest.” Of course. S&NPE are a pub management company aren't they. They want to give OTHER people (little people) the chance to own these pubs which all have such great growth potential.

I could spit blood...

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