J2Ski Forum Posts and Replies by Dave Mac

Tony_H wrote:Loss is a loss, which is why they are in the pooh.

May I remind you that your favourite airline was in much deeper pooh, but they changed CEOs, and reverted to profitability.

The point about examining Operating profit, is that it allows you to look at the health of the business ~ and to separate out the reasons for it's adverse situation. It is much easier to identify basket cases.

TC may end up going AWOL; equally, if they get their cost base right, they may well reverse their fortunes. They will need to generate some cash, and they have assets to do that, and they will need to double their profit ~ not easy in a falling market.

Phil J wrote:Have just booked to return to Niederau for 3rd year.. the kids love it and I use it as a warm up for 3 Valleys "boys" trip. Hopefully snow will be plentiful as arriving Xmas Eve - our 1st Xmas skiing so thought it better to go somewhere were we know the whole family will enjoy. Can the "locals" keep us posted with weather as the web gives lots of different forecasts. Thanks. ps.. Dave Mac - looking forward to bumping into you as we have mutual friend - Julie, who we introduced to Niederau last year.. and given half a chance would probably sell her family to move there !

Ah, Julie ~ she is some gal. TonyH made an unwitting odd comment about her in this posting, although he doesn't realise that. She has one great sense of humour, and an unusual taste in drink! She will be there at a different time from me this year. She is also friends with another eminent J2skier, also a lady of extremes!

Nutty, I am looking to cover most of 3 weeks in January, with w/c 15th as the middle week ~ always have my b/day in the Bichlwirt! The locals pay for my drinks, that's the way it shoud work! Still hoo-harring specifics, as we have a big trip away in Feb, and some March skiing already booked.

OldAndy wrote:What's the record before Adders gets bored and locks the thread??
:roll:

Minimum is one posting.
Maximum is 534 pages. :twisted:

andyhull wrote:

Dave Mac wrote:Note that Thos Cook are not loss making, they made £124m Operating Profit in year 2010.

They reported a pre tax loss back in March of -£269M

OP is not the same as PBTI.

Snapzzz wrote:<Sits back and waits for Dave.>

Too late, I already mentioned..... Stuben, and...... "my favourite resort" :P

Far Queue wrote:Sorry to drag up an older thread, but my renewal quote just came through from OUL Direct, and I thought some of you may be interested in the following.

WINTER SPORTS 1. YOU will be covered under all sections for the following winter sports: cross country skiing, curling, downhill skiing/ snowboarding and ice-skating. Skiing and snowboarding off-piste is covered provided YOU are skiing within the boundaries of a recognised resort area designed for public use and are not skiing in areas marked out of bounds or hazardous by the piste authorities. Heli skiing is only covered as part of a pre-paid excursion led by professional guides. Tobogganing and snowmobiling are covered under sections A, B & C but WE will not cover any claims under any other section resulting from any bodily injury or damage to property that may arise from YOUR use of sledges, skidoos or powered vehicles of any kind. No cover is provided for any form of ski racing, ski jumping, ice hockey or any other hazardous or extreme sports not specifically listed above.

:D Seems reasonable enough to me, and at £42 for an annual multi trip policy, I can live with the 17 days limit on skiing. Simply start another policy if I go for more.

If you did not have a claim within your first couple of weeks, how would the insurance company know you had been skiing? You could then take a 3rd/4th week, as though they were your first two weeks. Am I missing something?

Note that Thos Cook are not loss making, they made £124m Operating Profit in year 2010. This was on a turnover of £3.14bn. An operating profit of 3.4%, might be deemed OK, in the current trading climate. But it is not sufficient to pay the interest on their loans.

It looks like some big strategic mistakes have been made. I could never see the sense in them buying a commodity business like Co-op Travel. They would have been better targetting the Co-ops weaker activities.

Having dome so, they have been inactive on the cost-cutting that should take place after such an event. There are many places where two Thos Cook outlets co-exist in close proximity ~ our nearest town has two TCs, about 150 yards apart.

They do have significant assets, and could raise enough to reduce their debt by a quarter ~ they just haven't done so. Well the banks will make them do so. I don't think that they have yet replaced their recently departed CEO, so that may prove to be an opportunity.

At a time when the internet has taken a lot of business away from the High St, shop closures and job losses are inevitable. By not taking expedient action, a CEO, and the board, risks the whole operation.

I don't take the view that they are necessarily doomed, there are actions that can be taken to reduce costs.

To anawer the quetions, I wouldn't have a problem with booking with TC ~ as I said already, I have booked £6k in flights ~ a decision taken in full awareness of their seocnd profits warning of the year, No, I did not check them out, but I did check that their ATOL number was in date. I am not concerned about what planes TC own as I am flying Emirates.

That decision was reinforced today by ABTA, who say that all package holidays and flights are fully protected.

Alles ist ruhig.

I posted a similar question 2years ago:
http://www.j2ski.com/ski-chat-forum/posts/list/6647.page