Saturday, July 25, 2009

BBPA: new probe is a "distraction"

It's not a 'personal opinion' Edward, I'm right and You are plain wrong. I haven't just imagined the experience of fifteen years of owning tied leases. I live it and breath it. Recently I got bored with being vaguely polite and diplomatic for the sake of being taken seriously and not wanting to tweak other people's feelings. I've been walked all over at the feet of pubco activity and so has almost everyone else I've met who has a tied lease. I've openly written about the two exceptions to the rule of my experience. Both have leases on 700 barrel plus pubs, which were crapholes before they took them on, and neither has had their first rent review.

And for your clarity, I'm not venting spleen, I'm just pointing out what is obvious to people who run tied pubs because they come across it all the time. All the stuff that people pontificating the way you do entirely miss all the time.

It's not complicated. You don't know what you're talking about. If you did, you wouldn't come out with all that fifth column rubbish you punt around trying to sound like you're insightful and balanced. The tie has been shamefully, ruinously abused by virtually all people who preside over it from RICS to the national network of wholesalers and everyone in between. It has happened because Private Equity racketeers got involved, posing as slick businessmen deetermined to be modern custodians of a glorious tradition.

They fooled most people for most of the time. Even thousands of hard working lessees, the bread, butter, meat and gravy of the industry, the people the pillagers have put out of business and livelihood. THAT era is ending. All the current murmurs of 'welcoming' and 'not being concerned by' OFT or Competition Commission are clear evidence the pubcos are on the run.

That's my spleen vented enough for this evening. I'm going for dinner at a friend's house in Peckham. I imagine I'll be having some Serenel Rosato frizzante at The excellent Gowlett pub SE15 beforehand.

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