New TVR still under wraps! (Vol. 3)

New TVR still under wraps! (Vol. 3)

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Discussion

Jon39

13,001 posts

146 months

Sunday 2nd April 2023
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Viper201 said:
20th January 2023

"Clearly there have been delays in the commencement of car production in Wales. However, the timescales previously referred to accurately reflected the information available to us at the time and our expectation for this project to move forward.

Our officials remain in discussion with TVR and its advisors over the funding and delivery of its car production plant in Wales. Lawyers for both parties are also actively considering the proposed legal agreements for the building. The outcome of these various discussions is anticipated in the near future."

Yours sincerely,

Haydn Fitchett
Senior Delivery Lead - Business Solutions

Thank you Iain.
I have to laugh.

"Clearly there have been delays in the commencement of car production in Wales. However, the timescales previously referred to accurately reflected the information available to us at the time and our expectation for this project to move forward.

Indeed, 'clearly there have been delays', but what is also very clear, is Mr. Fitchett's lack of historical business knowledge, about British start-up sports car businesses.


Haydn Fitchett - Senior Delivery Lead - Business Solutions

Expect the usual civil service knighthood will be on its way to Mr Fitchett, but
for services to 'Senior Lead and fob off Letter Writing',
and certainly not
for 'Delivery of Business Solutions'.

smile

phazed

21,911 posts

207 months

Sunday 2nd April 2023
quotequote all
glow worm said:
Why can't England have a vote to kick Scotland, Wales and Northern Ireland out of the Union ?
Scotland will want to stay out of NATO if independent. They will kick our submarine bases out of their deep water homes. They are always patrolling the North Sea/North Atlantic areas inbetween Scotland and Iceland and certainly act as a deterrent to the Russians who are also out and about north of Scotland. If we leave the area, then it leaves the passage open into the Atlantic which the yanks certainly don’t want as they are our friends, (God help us all!).

I blame the Americans for everything. Not just because I like to and because it is true, but it makes me feel better that we are not the only fk ups in the world!

Jon39

13,001 posts

146 months

Sunday 2nd April 2023
quotequote all

phazed said:
I blame the Americans for everything. Not just because I like to and because it is true, but it makes me feel better ...

I hear there is some kind of cult now, called Wocky.
Their popular mantra and entertainment, if I have understood it correctly, is that you go as far back as they can, then blame someone for misdeeds.
Many of the Wocky members did not bother studying history when at school, because they were too busy playing with powder behind the bike sheds. Therefore they just have to listen to other Wocky types, before choosing a statue to throw in the river.

I don't blame the Americans. Oh no, it is the Italians and specifically Mr. and Mrs. Columbus that I blame. If they had not fallen in love, then Christopher Columbus would not have been born and we would have never had any reason to dislike people on an undiscovered continent. Of course to complicate it further, many Ameicans are descendents of British people anyway.

smile

phazed

21,911 posts

207 months

Sunday 2nd April 2023
quotequote all
All very true. Not blaming the descendants as such, just the current lot since, let's say a time line of about 1945ish, (that way I'm well out of it...).

On the car front, met up with a group of Porker guys this morning, (nice run out). Same old car bks over a tea and a bacon roll, just a different marque wink

glow worm

6,032 posts

230 months

Sunday 2nd April 2023
quotequote all
I hope you didn't mention the war to those porker owners...Basil only just got away with it smile

Jon39

13,001 posts

146 months

Sunday 2nd April 2023
quotequote all

phazed said:
On the car front, met up with a group of Porker guys this morning, (nice run out). ...

I expect the Porsche owners you met were British, but let's pretend for a moment they were Germans.

You could have followed King Charles example.
He was a real hit with Germans in Berlin last week, when addressing an audience in the German parliament.
King Charles included a reference to 'Dinner For One', "The same procedure as last year?"
How everyone laughed. hehe

Now little known in the UK, but every New Years Eve, almost the whole population of Germany stops to watch this comedy.
It holds the world record, as the most repeated tv programme in history.





glow worm

6,032 posts

230 months

Monday 3rd April 2023
quotequote all
Why have one TVR when you could have TWO ? smile


Jordie Barretts sock

5,276 posts

22 months

Monday 3rd April 2023
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That took me a moment. laugh

In horticultural news, I have serviced the ride on mower and fitted a new drive belt. Which was a lot easier than I thought it would be. Just need the grass to dry up now before I can mow it.

glow worm

6,032 posts

230 months

Monday 3rd April 2023
quotequote all
Jordie Barretts sock said:
That took me a moment. laugh
I'm not Jack & The Beanstalks Giant and live in a very BIG house hehe


Edited by glow worm on Monday 3rd April 14:41

QBee

21,193 posts

147 months

Monday 3rd April 2023
quotequote all
glow worm said:
I hope you didn't mention the war to those porker owners...Basil only just got away with it smile
I used to own a Mercedes W210 estate, an E320CDI. My colleagues called it the hearse, as it was very dark grey.
I looked out one morning, and could have sworn the car had turned itself round during the night and was facing east, ready to invade Poland. whistle

baconsarney

12,007 posts

164 months

Monday 3rd April 2023
quotequote all
Focke-wulf 190…. BMW engine… ME109…. Mercedes engine… Spitfire… Rolls Royce…..

phazed

21,911 posts

207 months

Monday 3rd April 2023
quotequote all
baconsarney said:
Focke-wulf 190…. BMW engine… ME109…. Mercedes engine… Spitfire… Rolls Royce…..
Premium brands that have survived, (of course Rolls-Royce, which is now owned by BMW!).

Good old England. Anything of value, let’s sell it!

Shame BMW don’t want to buy the TVR name.……..



How is the thinking of fleet slimming coming along Richard. Certainly my pension isn’t keeping up with inflation so careful thinking atm.

Viper201

7,954 posts

146 months

Monday 3rd April 2023
quotequote all
phazed said:
Shame BMW don’t want to buy the TVR name.……..

.
Which is a real pity Peter. TVR Finance just published their accounts for up to Nov 2022.


...................................................................................................................................................................................................................................................

...................................................................................................................................................................................................................................................
The 'going concern' says it all. The same warning on all the various TVR accounts since they started. Its the last thing an investor wants to see and now that the director brought in to find funding has resigned after just 10 months is not good news at all.
...................................................................................................................................................................................................................................................
The auditors' warning:



Edited by Viper201 on Monday 3rd April 16:40

Penrhyn

686 posts

101 months

Monday 3rd April 2023
quotequote all
Viper201

I wonder what Mr Fidchett at Welsh Government would say after reading that.

Viper201

7,954 posts

146 months

Monday 3rd April 2023
quotequote all
Lol, he would say what the Govt has always said which is the standard copy and paste response:

"Our officials remain in discussion with TVR and its advisors over the funding" just as they have done since 2017. rolleyes

I wonder if Bullitt is still hanging on in there along with the other 499 deposit holders? scratchchin

Jordie Barretts sock

5,276 posts

22 months

Monday 3rd April 2023
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With regard to the deposits, weren't they 'safe' as they were held in a separate account/entity?

Or is that utter rubbish and if (when) they fold, the deposits go too?

Viper201

7,954 posts

146 months

Monday 3rd April 2023
quotequote all
LE said at the beginning that the deposits would be held in a safe account. Those who have asked for their deposits back have been paid promptly.

The only concern is that Audacia Capital, the Irish bonds issuer, has first claim over everything now if TVR went bust. Whether that includes those deposits or not, we may find out one day.

Gazzab

21,164 posts

285 months

Monday 3rd April 2023
quotequote all
Jordie Barretts sock said:
With regard to the deposits, weren't they 'safe' as they were held in a separate account/entity?

Or is that utter rubbish and if (when) they fold, the deposits go too?
His word is his bond. Money is safe whilst he can afford to repay. Surely there are only a handful of privately held deposits left. A few more dealer deposits - these aren’t refundable.

SpeckledJim

31,608 posts

256 months

Monday 3rd April 2023
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You’d have to be mad, forgetful, or both, to still have a deposit in place.

What puzzles me is that if the company didn’t permit itself to use the deposits to fund operations relating to actually building the car people wanted to buy, what’s the point in asking for the deposits at all?



Gazzab

21,164 posts

285 months

Monday 3rd April 2023
quotequote all
SpeckledJim said:
You’d have to be mad, forgetful, or both, to still have a deposit in place.

What puzzles me is that if the company didn’t permit itself to use the deposits to fund operations relating to actually building the car people wanted to buy, what’s the point in asking for the deposits at all?
It’s all bull. They have had a very small number of deposits for a few years now and so that wouldn’t have been enough money to do anything meaningful.