Cabot loses £6m as crunch bites collections - My heart bleeds...

[andrew1]

10th Setpember 2009 (well almost)

 

Ken Maynard - chief Exec of Our old mates Cabot

 

£6 million Loss?

 

 

HAPPY BIRTHDAY KEN MAYNARD !!!

FROM CAG and the CABOT FAN CLUB

 

 

Yeeehhaaa!! :D

 

and there's our Heather on page 49 of CT telling us all about what naughty people those identified by the OFT are for being 'won't pays' and their evasion tactics -

[ATTACH]12354[/ATTACH]...think you might have just forgotten to mention Heather a little bit of activity which has been going on for 3 years or so.... a Consumer Revolt !! also telling the OFT what complete asses these idiots are in the DCA's you keep awarding prizes to for going about their business TOTALLY AGAINST THE LAW - or has that just been a slight of pen?

 

Come on Heather - admit you love the Cabot Fan Club - CAG and all the energy it has provided all these people with to begin COMPLAINING about things which the DCA's have gotten away with for getting on 40 years...give us just a jot of credit ( excuse the pun ) this is not just about 'won't pays' you should read a few threads on here to know that.....?

 

Why can't you admit it and Print it? - They've been sussed and here's poor old Ken Maynards birthday pressi - a £6 million loss - that means his new swimming pool won't be serviced this year and poor old Glen Crawford having to sell an Aston or two.. it really makes our hearts bleed Oh, and you might have to make old Frank Spencer, sorry, Dean and his honcho Peirs redundant - pity, so soon after bringing them on board - but hey, don't worry - they were pretty useless anyway we could have saved you a fortune if you'd listened - the fan Club are up for consultancy assignments you know? - banks have already spoken to us you'll remember

 

Don't worry Heather, Cfc will send him a cake -

 

 

Happy birthday Ken we lubs ya really!

 

Lots of love

 

the Cabot Fan Club - if I wasn't such a nice one, I'd be tempted to say " we told you so!

Edited September 11, 2009 by andrew1

[andrew1]

I think you are being a little harsh on that heather from the pdf , she looks like a nice buxom girl to me .

 

Actually ' Our Heather' is a really lovely person. What you see is what you get - she is delightful, intelligent and yes, attractive to go with it.....both in person and in print and

the Cabot Fan Club has a lot of respect for her, but she is a journalist remember so she doesn't mind the truth...do you Heather?

[andrew1]

That's what's been going on all along with all the DCAs but Cabot in particular. They were assigning offshore in Ireland with MBNA.

 

'Were' being the poignant word Rhia - eh ?

[andrew1]

They may well be still doing so eh?

 

..and there was me thinking you'd spilled all to the Vat & tax man - they are slow aren't they?

[andrew1]

Oh dear. And the poor souls bought 4 of my debts that didn't have the legality of toilet paper

 

At least toilet paper has the legality to wipe our souls (are) - unlike Cabot who think they should

[andrew1]

Just to make this a little sweeter...I'd almost missed this bit - well I DID miss it:

 

This is far worse than I'd first thought..a £6.7mill loss in 2007-08? - against a profit of £9.6 mill the previous year - That's a staggering £17million swing not just £6.7 million and if you make £9.6million in a year, your projections and budgets/forecasts for the next year are growth year on year. Even an increase by 10% takes that expectation to over 10 possibly £11 million quid...profits - to turn that into a £6.7 million loss means you've not only lost the 10/11 million you'd expected but it's worse by a further 6.7m making the loss nearer £18 - £20 million - Ha-ha, now you can all carry on blowing those trumpets my friends and slapping yourself happy on the back for being crucial contributors to this...keep on complaining to them and about them to the OFT!! Support the Cabot Fan Club and Cag in bringing these parasites to heel and making them ABIDE BY THE LAW - which is all we ever campaigned for them to do - their losses are a reflection of how effective we have all been. Well done everyone..

 

Even brillianter than we dimwit rogue debtors gived ourselfs credit four! :D

 

 

Edited September 14, 2009 by andrew1

[andrew1]

Debt buyers are ‘walking dead’

 

Debt buyers are ‘walking dead’ - 19/11/2009 - says Credit Today Magazine!

 

...and what are Cabot?

 

Quote:

 

Not all debt buyers have survived the recession intact according to a speaker at Credit Today’s Debt Sale and Purchase conference.

 

Lawrence Guthrie, managing director of adviser Hawkpoint Partners, today told delegates that despite the lack of public failure, the recession has badly affected debt purchasers. "Quite a few companies aren’t around today buying portfolios when they were two or three years ago," he said. "They are the walking dead. They will survive for a period of time but will gradually wind down."

 

Guthrie added that to be successful debt buyers must anticipate regulatory change and plan for it, rather than reacting once it is implemented. "The debt purchase industry badly needs more co-ordinated leadership," he said.

 

Guthrie also raised the possibility that debt buyers could float on the stock market in future. However, fellow panellists Howard Garland, principal – equity finance – at RBS Global Banking and Markets, and Simon Hemley, partner at Gresham Private Equity, raised concerns that the need for ongoing funding could make this strategy difficult.

 

"Access to funds after the initial transaction can be far more complicated and take up far more of the management’s time and energy," said Hemley.

 

Garland added: "I’m not sure these businesses are suitable for the public market. They are users of capital and their brands are not built up in the same way. Never say never, but I’m not sure they’re suitable."

 

My heart bleeds even more now :D:p:p:D:D