Thursday, February 17, 2011

RE: Exclusive: Host ‘turns tables’ on Enterprise Inns

Exclusive: Host ‘turns tables’ on Enterprise Inns

I LOVE the fact that lessees in south London are such a thorn in the pubcos' collective backsides!


edited by: J Mark Dodds at: 17/02/2011 18:58:39

Author: J Mark Dodds

Comment Date: 17/02/2011 19:14:31

1) Pubco employees rarely talk sense because it's not possible to make sense out of the business edifice that pays their salaries. 2) IF it were possible to understand the nonsensical 'business model' people, like politicians, CAMRA, ROCS and OFT etc, would understand it and would have ended it decades ago ergo: 3) Pubco employess, understandably, rarely understand the nonsense THEY are saying anyway so YOU trying to understand them is asking a lot of yourself. 4) Pubcos DO NOT 'do deals' with lessees unless as a group of pubs and unless they are shafting the people who run the group of pubs as roundly as they shaft individual lessees; in which instance even the people who run the group of pubs do not realise they are being shafted until it is too late by which time they have to do pre-packs and work with the pubcos to save their shirts and then NDAs come into it and no one gets to hear about it. 5) Pubcos assets (pubs; errr and pubco CEOs' thick skin) are MASSIVELY over valued so they will NEVER allow a discussion with a tenant over a sale unless there is stupid money on the table, usually combined with a NDA; and no one ever gets to hear about it. 6) Out of necessity, as a result of fear of the nonsensical 'business model' being exposed pubcos CANNOT deal with lessees over the sale of their own pub to themselves because, at some point, the cat would get out of the bag and real valuations would be exposed, auditors would smell fish and rotten eggs and valuers would devalue the estates instead of writing them up in a spiralling out of control market - and everyone involved would be puked out of the gravy train onto dole queues or less lucrative stuff, like actually having to WORK FOR A LIVING.

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