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"Absolutely gutted" - demise of Thomas Cook wrecks travelers' plans :-(

OMG...I hope none of our members are stranded out there. :blink:

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No one saw this coming. The company just 'collapsed and folded'.

Reuters - 23 Sept 19

Mallorca, Spain, "Holidaymakers stranded by the collapse of Thomas Cook, the world's oldest travel firm, desperately scrambled for information on Monday on how to get home, as Britain mounted its largest peacetime repatriation effort.

At airports around the world travelers scoured mobile phones or quizzed officials for travel updates as they waited in long queues beneath flight boards showing flights delayed or cancelled.

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A grounded airplane with the Thomas Cook livery is seen at Manchester Airport, Manchester, Britain September 23, 2019.

"Nightmare, nightmare, stressed," said British holidaymaker Nick, as he awaited information at Palma airport on the Spanish island of Mallorca.

"Not what we wanted really before going home. But what can you do? Other people have lost their jobs, so we're not as bad (off) as some other people," he said, with two young children - an 18-month-old and 12-year-old - in tow.

He and his family had been due to fly back to the northeastern English city of Newcastle on Sunday evening but now hoped to fly to Manchester on Monday evening and then to travel the 240 km (150 miles) back to their home city by coach.

Scottish tourists hoping to fly back to Glasgow said they now expected to head to the central English city of Birmingham, 400 km (250 miles) away.

"I'm very anxious because I have sore legs so I don't know how... I'm going to get to Glasgow if they take us to Birmingham or somewhere else. So it's going to be very difficult and a long day and I'm very tired," said one woman in a wheelchair.

The British government has pledged to get an estimated 150,000 stranded British holidaymakers home in the biggest such repatriation operation since World War Two, but that is no consolation for many others whose holiday plans lie in ruins".

Read More: Thomas Cook 'collapses' and wrecks travelers' Plans

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"Let's go somewhere awesome, because it's the journey that counts". CBJ
 
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Yeah, and right up through last night they were still booking people and taking their money! Then all of a sudden "unexpectantly" it collapsed. But of course they don't announce they're fighting to stay afloat and get financing, because then their customers will disappear.

At least the UK goverment has a system in place to repatriate it's people in the event something like this happens. But yeah it does ruin a vacation.
 

simon1

Self Ignored by Vista
Private meeting:

"Okay, do we have all our assets transferred to offshore accounts? Good. I have lodging arrangements made in China, Russia, Belize, Chile, Nicaragua, and Australia. Take your pick."
 
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FarmerTan

FarmerStan the Man
Private meeting:

"Okay, do we have all our assets transferred to offshore accounts? Good. I have lodging arrangements made in China, Russia, Belize, Chile, Nicaragua, and Australia. Take your pick."
Brother, your cynicism is showing up as bad as mine. You must be wrong, cuz I ain't read it on the internet yet, or seen it on the news.
 

oc_in_fw

Fridays are Fishtastic!
Private meeting:

"Okay, do we have all our assets transferred to offshore accounts? Good. I have lodging arrangements made in China, Russia, Belize, Chile, Nicaragua, and Australia. Take your pick."
The only people who matter to corporations are share holders. They’ll probably just shed all debt via bankruptcy and open under a different name.
 
The actual debt is £1.7 billion. That's around $2 billion. Yes, let's ask the right questions and try and get answers.

How long is a piece of string?

Accountants and investors measure debt against income and company assets, not just the absolute number.

How many people here have mortgages? On paper you may have many hundreds of thousands in debt.
 

FarmerTan

FarmerStan the Man
How long is a piece of string?

Accountants and investors measure debt against income and company assets, not just the absolute number.

How many people here have mortgages? On paper you may have many hundreds of thousands in debt.
I am BLESSEDLY debt free.

But no man is an island, and like everyone else on planet Earth, my days are numbered, and a few poor decisions by myself or a banker or an economist or a world leader and me and mine could be homeless or worse.

Good morning to all!
 

oc_in_fw

Fridays are Fishtastic!
How long is a piece of string?

Accountants and investors measure debt against income and company assets, not just the absolute number.

How many people here have mortgages? On paper you may have many hundreds of thousands in debt.
They were using future bookings to finance current operations. They were very strung out.
 
I am BLESSEDLY debt free.

But no man is an island, and like everyone else on planet Earth, my days are numbered, and a few poor decisions by myself or a banker or an economist or a world leader and me and mine could be homeless or worse.

Good morning to all!
Dave:
1-jpg.899177
...the Mrs. and I are 'thankfully' happy to be debt free and if something should happen in regard to my military retirement, disability and our SSI...we'd be homeless for sure (and living in a shelter or tent city or on I-10 under a bridge ). Homeless.png


On another note...at the end of the day...I agree with member Oc_in_fw...I don't think Cook will rise from the ashes, but I'm pretty sure they'll just move money (and people), around, 're-brand' themselves and try to convince and assure the public that there 'legit' and learned from their past mistakes. Shoulder Shrug.jpg

upload_2019-2-17_15-58-37-jpeg.953925
"We cannot solve our problems with the same thinking we used when we created them”. Albert Einstein
 
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FarmerTan

FarmerStan the Man
Dave:
1-jpg.899177
...the Mrs. and I are 'thankfully' happy to be debt free and if something should happen in regard to my military retirement, disability and our SSI...we'd be homeless for sure (and living in a shelter or tent city or on I-10 under a bridge ). View attachment 1021575


On another note...at the end of the day...I agree with member Oc_in_fw...I don't think Cook will rise from the ashes, but I'm pretty sure they'll just move money (and people), around, 're-brand' themselves and try to convince and assure the public that there 'legit' and learned from their past mistakes. View attachment 1021569

upload_2019-2-17_15-58-37-jpeg.953925
"We cannot solve our problems with the same thinking we used when we created them”. Albert Einstein
Your post made me think of the companies that never fire people that should be and just give them "lateral moves!"

I was fired once. Almost drove me into a bad place mentally, until I found out they replaced me with two people that combined made less money than me. They did me a favor, as I began to learn to value myself as a skilled nurse. But I won't lie, at the time a well placed kick to the.... gut would have felt better.
 
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