Wednesday, September 16, 2009

Sun backs Save the Great British Pub call

Marvellous. Mark Hastings always in the winge to try put pubcos and tenants in the same boat - with handwringing like: 'it's awful, we're all suffering together'. Not quite Mr Hastings.

A couple of questions based on your statments Mark: "A lot of pubcos are doing a lot to help with rents. Do they need to do more? Yes, probably. A good pubco relies on good tenants selling good beer. They are all in the same boat."

Just which pubcos are doing 'a lot' to help with rents?

If 'good pubcos' need to do more, WHY are they NOT doing more already, when it is needed?

Pubcos are still posting big profits, their estates, apparently, according to RICS surveyors, have increased in value while more and more of their pubs are being boarded up while property values in the real world have plummeted. Their employees are still getting holiday tans, driving Beemers and 4x4s going on jollies and training shindigs while 65% of their tenants earn less than £15K a year, are on Working Family Tax Credits to keep themeslves in bread and butter, cannot afford to take a day off and work all hours god sends while getting themselves deeper and deeper in the mire - and handling ALL of the red tape the pubcos say is such a problem for them without any help from the pubcos.

IF the pubcos rely on good tenants selling good beer WHY then do some pubco CEOs describe tenants as lazy people who cannot run a business? Ah yes. THEY are all the tenants who bought leases from the ones who made a fortune out of building up their own pubco tied business in the 'fat years' and who pubco could not resonably withold assignment to. None of the tenants the pubcos let direct are in the doo doo are they. NO.

Tra la la

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