Saturday, June 20, 2009

News Article Comments : Rent review help on offer at BII event

@Russell: If your position generally has been that business is all plain sailing but for a little choppiness due to criminal lessees fleecing the company, a smoking ban, an anti pub government and a freefalling economy, then just attending the talking table could be interpreted by observers as tantamount to an acknowledgement by Enterprise that something really IS wrong after all. And that wouldn't do. Would it?

The pubcos are between a rock and a hard place. The majority have the luxury of not having the glare of publicity placed on them as P and E do, no matter how carbon copy they are of the big boys, and so have chosen to keep quiet as far as they can. But Enterprise and Punch are a different matter, with the spotlight being focused on them particularly. Their initial reactions to the BEC report were similar - total denial - but time marches on and a charm offensive has taken over at Punch while intransigence still reigns at Enterprise - this is corporate stance reflecting the personalities at the top.

DENIAL is a defense mechanism whereby a person faced with facts that are too uncomfortable to accept instead rejects them, insisting they are not true in spite of overwhelming evidence to the contrary. The reality of unpleasant facts may be rejected altogether; this is known as SIMPLE DENIAL; When the facts are admitted to but are said not to be serious; this is MINIMISATION; And when there is admission, both of the facts and their seriousness, but total denial of responsibility; this is called TRANSFERENCE. Ring any bells?

To an extent both companies have been through all three stages of denial to arrive where we are now. Publicly Punch has moved on, Enterprise has not. No matter. The rock and the hard place is that their business positions are similar; neither can afford to change their spots AND still meet their debt repayment obligations. This applies to the the quieter, less high profile pubcos as well.

A very serious state of affairs for the pub industry.

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