Date: 30-03-20  Time: 02:27 AM

Author Topic: Norton go into administration  (Read 1688 times)

robbo

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Re: Norton go into administration
« Reply #50 on: 17 February 2020, 09:31:33 PM »
Such a shame that the name Spondon, so well respected in the past, has been dragged through the dirt. If the original retiring partner hadn't been so desperate for cash, then no doubt this financial tragedy wouldn't have happened.

unfazed

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Re: Norton go into administration
« Reply #51 on: 17 February 2020, 09:42:41 PM »
Read that earlier today  :rolleyes

mtread

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Re: Norton go into administration
« Reply #52 on: 17 February 2020, 11:43:23 PM »
Blimey. More of a crook than even I thought

ogri48

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Re: Norton go into administration
« Reply #53 on: 18 February 2020, 09:20:58 AM »
unreal aint it?. I always thought Norton had been bought by a multi millionaire businessman, not some bloke who ponsed 90 grand off his dad and chanced the rest to build a long con :(

mtread

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Re: Norton go into administration
« Reply #54 on: 18 February 2020, 09:51:44 AM »
What I don't get, is why didn't he just play it straight? Decent bikes, albeit niche, at a premium price. Plenty of orders from the US.
If CCM can make a go of it. Why do the con man?

coffee

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Re: Norton go into administration
« Reply #55 on: 18 February 2020, 02:22:24 PM »
Scared of losing a few quid doing things the right way,just a typical silverspoon tosser. :finger :foc
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Gnasher

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Re: Norton go into administration
« Reply #56 on: 18 February 2020, 05:32:29 PM »
Greed  :finger
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VNA

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Re: Norton go into administration
« Reply #57 on: 18 February 2020, 06:38:15 PM »
 Questions need to be asked about the grants and loans they received.  Were audits carried out, if not, why not, and if they were, why did they not pick up that the business was bent.   Laws need to be tightened on Pensions investment rules. 
https://www.theguardian.com/business/2020/feb/12/inquiry-government-funding-norton-motorcycles
 

VNA

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Re: Norton go into administration
« Reply #58 on: 18 February 2020, 06:39:20 PM »
Quote
this is very very  much worth a read...https://www.superbike.co.uk/article/norton-was-it-a-fraud-from-the-start
Jesus.  Appears the whole thing sucked right from the start. 

ogri48

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Re: Norton go into administration
« Reply #59 on: 19 February 2020, 07:48:34 PM »
What I don't get, is why didn't he just play it straight? Decent bikes, albeit niche, at a premium price. Plenty of orders from the US.
If CCM can make a go of it. Why do the con man?

it really is a crying shame innit. as you say, with all that going for them, if he had been straight, Norton would have worked.

VNA

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Re: Norton go into administration
« Reply #60 on: 22 February 2020, 10:26:17 AM »
Meanwhile Triumph has announced this week that they are moving the remainder of their production out of the UK.Triumph is no longer a British manufactuerer.

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Re: Norton go into administration
« Reply #61 on: 22 February 2020, 11:37:53 AM »
Meanwhile Triumph has announced this week that they are moving the remainder of their production out of the UK.Triumph is no longer a British manufactuerer.


One of the first casualties of........ yep you guessed it the B word, there'll be a good few more........... 
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VNA

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Re: Norton go into administration
« Reply #62 on: 22 February 2020, 01:16:56 PM »
Yup more and more manufactuering has and will continue to leave the UK. 

YamFazFan

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Re: Norton go into administration
« Reply #63 on: 22 February 2020, 07:23:53 PM »
Meanwhile Triumph has announced this week that they are moving the remainder of their production out of the UK.Triumph is no longer a British manufactuerer.


One of the first casualties of........ yep you guessed it the B word, there'll be a good few more...........
Here's the story from MCN this week. Not a single mention of Brexit.
Of the 65,000 bikes Triumph produce 90% are already manufactured in Thailand.

They will still be making around 4500 bikes at Hinckley and making significant investment in R&D here, but the last of the volume models is moving to the factory abroad. It means around 2000 less units per year made in the UK.
https://www.motorcyclenews.com/news/triumph-production-thailand/
« Last Edit: 22 February 2020, 07:26:43 PM by YamFazFan »
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YamFazFan

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Re: Norton go into administration
« Reply #64 on: 22 February 2020, 09:02:15 PM »
One of the first casualties of........ yep you guessed it the B word, there'll be a good few more...........
No, you 'guessed' it was the the B word. And guessed wrong.
Beauty is in the eye of the beerholder.

steve 10562cc

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Re: Norton go into administration
« Reply #65 on: 23 February 2020, 07:24:51 AM »
Just gazing into the crystal ball again

YamFazFan

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Re: Norton go into administration
« Reply #66 on: 23 February 2020, 08:24:55 AM »
Just gazing into the crystal ball again
Every single bit of 'bad news' is going to be leaped upon and blamed on Brexit now, regardless of whether it's got anything to do with it or not.
90% of Triumph production was already in Thailand prior to Brexit, so was that a consequence of EU membership? :rolleyes
« Last Edit: 23 February 2020, 08:33:42 AM by YamFazFan »
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BMCfaz

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Re: Norton go into administration
« Reply #67 on: 23 February 2020, 08:57:29 AM »
Does the failure of Norton remind anyone else of Mel Brooks' The Producers?
The company was meant to fail - like 'Springtime for Hitler' - and when it didn't the money had to be accounted for.

Gnasher

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Re: Norton go into administration
« Reply #68 on: 23 February 2020, 10:45:25 AM »
No, you 'guessed' it was the the B word. And guessed wrong.



Nope, the UK manufacture will slow and then stop, development only even that could well go.   
« Last Edit: 23 February 2020, 12:21:27 PM by Gnasher »
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YamFazFan

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Re: Norton go into administration
« Reply #69 on: 23 February 2020, 10:49:47 AM »
One of the first casualties of........ yep you guessed it the B word, there'll be a good few more...........
No, you 'guessed' it was the the B word. And guessed wrong.


Nope, the UK manufacture will slow and then stop, development only even that could well go.   
And that's all directly a result of Brexit?.
Beauty is in the eye of the beerholder.

Gnasher

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Re: Norton go into administration
« Reply #70 on: 23 February 2020, 12:42:39 PM »

And that's all directly a result of Brexit?.


The complete withdrawal of manufacture from the UK yes, as I think you'll find Thailand already has a deal with the EU, so imports from their are like for like or pretty close and labour a fraction of the cost of  UK.  If we don't get a deal anything from the UK will cost more, some industrial bodies are quoting 20% or more.  Within the next few years much of our manufacturing will disappear if we don't get a good deal with the EU.

The likes of Mini (BMW), Toyota, Nissan, whats left of Vaxuhall just vans now I think will go, Honda in Swindon we already know about.  I know people from there and regardless of what's said officially, it is Brexit, they aren't willing to make the future investment in the UK.   

Wait till the financial sector takes it's hit if we don't get a deal! 

Anyway enough of the B word, we'll all find out very shortly. :rolleyes
« Last Edit: 23 February 2020, 12:43:47 PM by Gnasher »
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pilninggas

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Re: Norton go into administration
« Reply #71 on: 23 February 2020, 01:10:41 PM »
Norton tried to do what lots of small volume UK motorcycle manufactures before them had done tried to up the volume without really considering the cash flow. They then started taking payments and using them to keep it all looking rosey. It reflects very poorly on the CEO (on the fiddle?)


UK Manufacturing is booming: Rolls Royce have just opened another composites centre and are expanding Derby. Siemens are opening a huge train plant in Goole. [size=78%]https://www.cityam.com/uk-pmi-manufacturing-grows-at-fastest-rate-in-10-months/[/size] . The risk now is corona affecting the supply chain not brexit. thank goodness Corbyn never got in, the outlook would be grim.



YamFazFan

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Re: Norton go into administration
« Reply #72 on: 23 February 2020, 01:45:28 PM »

And that's all directly a result of Brexit?.


The complete withdrawal of manufacture from the UK yes, as I think you'll find Thailand already has a deal with the EU, so imports from their are like for like or pretty close and labour a fraction of the cost of  UK.
So the further 2000 bikes that are going to be manufactured in Thailand now are simply following the approx 60,000/90% that have already been made there prior to Brexit?.
Being in the EU hardly preserved their home manufacture did it? :rolleyes
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YamFazFan

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Re: Norton go into administration
« Reply #73 on: 23 February 2020, 01:47:40 PM »
I know people from there and regardless of what's said officially, it is Brexit, they aren't willing to make the future investment in the UK.   
I know people who claim we never went to the moon. I prefer to rely on the official version of events :)
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VNA

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Re: Norton go into administration
« Reply #74 on: 23 February 2020, 06:25:15 PM »
Quote
The complete withdrawal of manufacture from the UK yes, as I think you'll find Thailand already has a deal with the EU, so imports from their are like for like or pretty close and labour a fraction of the cost of  UK.  If we don't get a deal anything from the UK will cost more, some industrial bodies are quoting 20% or more.  Within the next few years much of our manufacturing will disappear if we don't get a good deal with the EU.
 
The likes of Mini (BMW), Toyota, Nissan, whats left of Vaxuhall just vans now I think will go, Honda in Swindon we already know about.  I know people from there and regardless of what's said officially, it is Brexit, they aren't willing to make the future investment in the UK.   
 
Wait till the financial sector takes it's hit if we don't get a deal!
 
Anyway enough of the B word, we'll all find out very shortly.

Indeed, we do about almost 50% of our trade with the EU.  Any economist will tell you that your immediate neighbours will always be your most important trade partners.  The EU gives us access to 27 nations, with the 27 governments, around 27 languages, cultures etc, but all operating as one open market under a common set of rules.  It really is quite amazing. 



The EU also gives, or gave us over 50 comprehensive trade agreements across the globe.


Now it looks as we might be about to throw that all away.  The current government is clear that it favours a hard BREXIT, which will make trade more difficult with the EU and the other countries that we access across the globe through those EU stuck deals that we were major negotiators in.


Fours years in, and no clear result insight, few manufactures are prepared to take the considerable risk of investing in the UK, and those that are home grown or have already invested in the UK are, one by one, leaving.


The leading BREXITEERS are comfortable with this.  Both Johnson and Rees-Mogg are admirers of the leading BREXIT economist Professor Minford.  Minford is quite clear, that whilst he favours a hard BREXIT, it will not only destroy UK automotive manufacturing but UK manufacturing as a whole. Not much will be left.


Quote
It will be in your interests to do it, just as in the same way we ran down the coal and steel industries
Professor Minford

Remember this is what you voted for.  :o