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12TS said:
Bit of a thing not to foresee!
What was his famous saying at that time?
"We don’t need any more money at all. Let me be crystal-clear, black-and-white: we do not need money.”
If he later asked for a quid for parking, that perhaps could be forgiven, but asking for £654 milion !
I cannot believe that was not forseen, just not publicly admitted, but people must wonder what is not being forseen at AML.
I have just been reminded that he made another strange statement;
“I will be renegotiating the bonds at a more favorable rate, probably, and taking some cash to pay down part of the debt,” Stroll said. “This company will be cash-flow positive in 2023.”
Considering the enormous (in percentage terms) rise in prevailing interest rates, since the current bonds were issued, then the best of luck with getting more favourable rates.
Looks as though the cash-flow positive promise has been moved on a year, or 'from 2024', might mean 2 years.
Making statements which later are seen to be ...... , is .......
Aston Martin does not use the cash-flow positive business model. It would be quite something, if that were to be achieved.
He ought to drop the EBITDA nonsense. A meaningless term, that business people have just copied from each other.
Charlie Munger has a less polite description for it.
Edited by Jon39 on Monday 20th March 20:13
AdamV12V said:
The 2022 annual report out today makes for interesting reading….
I had a glace through.
Previous years reports have been documents containing constant repetition.
Think that is getting worse this time.
Perhaps say the same thing ten times and it helps in some way.
Getting to the business 'nitty gritty', this caught my eye.
Revenue ........................................... £1381 million
Operating Loss .................................. £141 milion
But then pay Finance Expenses ....... £368 million
Resulting in Pre-tax Loss .................. £495 million
Show how costly the debt servicing is.
The Dollar bonds have fixed rates of interest, although currency movements increased the Pound interest cost last year.
( Click to see under the logo )
Simpo Two said:
Jon39 said:
I had a glace through.
Cherry picking again eh! 
Yes, sorry. The constant repetition put me off.
SSO will find any juicy extracts of interest.
PDF word search is helpful for that, if anyone has time and the inclination.
I will be requesting a printed copy though, to continue my souvenir collection.
The set of books might be of historical interest one day.
M1AGM said:
Ultra luxury cherry picking, please.
Ultra-luxury is mentioned 67 times in the report.
Are we losing the will ?
I must say though, the recent V12V model was sucessfuly sold, for £100,000 more than the original V12V price (inflation adjusted).
Maybe naming everything ultra-luxury does work and customers are happy to pay far higher prices.
The report emphasises the enormous expected growth, in the number of ultra-high net worth individuals, who it is hoped, will be eager to buy ultra-luxury Aston Martins.
Mick Lynch must be choking over his copy of, 'My Dream, The End of Capitalism'.
Edited by Jon39 on Tuesday 21st March 14:13
Simpo Two said:
I think you missed the typo. Goalie never saw it, straight past his ear, back of the net 
Quite right.
Sorry M1AGM. I missed your joke too.
I must have been thinking about that delicious ice cream in Paris, whilst typing.
Talking of eating, fruit cake straight from the oven in half an hour. Yum, yum.
Edited by Jon39 on Tuesday 21st March 15:24
Jon39 said:
Quite right.
Sorry M1AGM. I missed your joke too.
I must have been thinking about that delicious ice cream in Paris, whilst typing.
Talking of eating, fruit cake straight from the oven in half an hour. Yum, yum.
Edited by Jon39 on Tuesday 21st March 15:24
On the ultra luxury thing, the annual report talks about it as a market sector, is that the case, anyone know if ultra luxury is a marketing segment now or is it completely made up by AM?
M1AGM said:
No problem Jon, it wasn't a very good joke.
On the ultra luxury thing, the annual report talks about it as a market sector, is that the case, anyone know if ultra luxury is a marketing segment now or is it completely made up by AM?
It's whatever you(they) say it is. On the ultra luxury thing, the annual report talks about it as a market sector, is that the case, anyone know if ultra luxury is a marketing segment now or is it completely made up by AM?
It's helpful in a sense, in that it means 'higher up than we were before', but it doesn't have a defined border.
M1AGM said:
On the ultra luxury thing, the annual report talks about it as a market sector, is that the case, anyone know if ultra luxury is a marketing segment now or is it completely made up by AM?
I've been pondering this and wonder what is actually ultra-luxurious about the new breed of Astons. I'm sure they're very fast and can go do the Ring in 8 mins, but where exactly is the luxury? It can't be the ride or the quietness. Having never seen any of the limited edition V-beasts I genuinely don't know.Simpo Two said:
M1AGM said:
On the ultra luxury thing, the annual report talks about it as a market sector, is that the case, anyone know if ultra luxury is a marketing segment now or is it completely made up by AM?
I've been pondering this and wonder what is actually ultra-luxurious about the new breed of Astons. I'm sure they're very fast and can go do the Ring in 8 mins, but where exactly is the luxury? It can't be the ride or the quietness. Having never seen any of the limited edition V-beasts I genuinely don't know.What Stroll is driving at is managing the products and the brand such that they can withstand putting their prices up a lot. And I think he's right. I don't think he's going to manage it, but I agree with the target.
Jon39 said:
Yes, sorry. The constant repetition put me off.
SSO will find any juicy extracts of interest.
PDF word search is helpful for that, if anyone has time and the inclination.
I will be requesting a printed copy though, to continue my souvenir collection.
The set of books might be of historical interest one day.
Simpo Two said:
I've been pondering this and wonder what is actually ultra-luxurious about the new breed of Astons. I'm sure they're very fast and can go do the Ring in 8 mins, but where exactly is the luxury? It can't be the ride or the quietness. Having never seen any of the limited edition V-beasts I genuinely don't know.
On a factory tour, in the days of the original V8 Aston, our guide summed up Aston Martin's aims. He told us that whereas many car manufacturers start with a nice place to be, build a car round it and then try and make it behave, Aston Martin built a car that would go, handle and stop and then try to insulate the occupants from the worst of the discomfort. They did that with top quality leather, wood and carpet. Maybe it's still much the same.Simpo Two said:
I've been pondering this and wonder what is actually ultra-luxurious about the new breed of Astons. I'm sure they're very fast and can go do the Ring in 8 mins, but where exactly is the luxury? It can't be the ride or the quietness. Having never seen any of the limited edition V-beasts I genuinely don't know.
My own Vantage, which I adore, does certainly look luxurious when peering in from the outside.
However being a sports car, when driving there is reassuringly firm suspension and a delightful exhaust sound.
For a luxurious daily driver, I certainly do not want firm suspension, or exhaust noise.
It could therefore be concluded, that the wonderful Aston Martin sports cars, are neither luxury or ultra-luxury products.
Edited by Dewi 2 on Wednesday 22 March 17:14
Well this was the first google hit for ultra luxury
https://www.verbalidentity.com/luxury-vs-ultra-lux...
Eta:
In the ultra-luxury sector, the language centers on the feelings available to you as a passenger. The central axis remains Power, but the notion is that Grace is a rejection of any overt display of Power.
In the brands’ lexicon, abstract and concrete nouns such as “leather”, “comfort”, “experience”, “craftsmanship” abound. As a group, these concepts echo the Renaissance notion of sprezzatura, an (apparently carelessly achieved) quality of effortlessness. This is best illustrated by Bentley’s prominent display of its founder’s desires: “To build a fast car, a good car, the best in its class.” This sentence can be so admirably blunt because of the sophistication that is inherent in the brand’s identity
The ultra-luxury sector is ‘boundaried’ by the notion of sprezzatura. As such, the qualities of superior engineering, bespoke interiors, and stylish design, which their poor cousins in the luxury world work so hard to stress, are taken as inherent and go unmentioned by the ultra-luxury brands.
It’s essential to note that this notion of apparent carelessness is more readily thought of as a signaller of older, European-style class markers – particularly English class markers. We are reminded of the kind of person who uses ‘summer’ as a verb.
—-
Interesting.
I noticed other search results include UL holidays, flights, cruises.
https://www.verbalidentity.com/luxury-vs-ultra-lux...
Eta:
In the ultra-luxury sector, the language centers on the feelings available to you as a passenger. The central axis remains Power, but the notion is that Grace is a rejection of any overt display of Power.
In the brands’ lexicon, abstract and concrete nouns such as “leather”, “comfort”, “experience”, “craftsmanship” abound. As a group, these concepts echo the Renaissance notion of sprezzatura, an (apparently carelessly achieved) quality of effortlessness. This is best illustrated by Bentley’s prominent display of its founder’s desires: “To build a fast car, a good car, the best in its class.” This sentence can be so admirably blunt because of the sophistication that is inherent in the brand’s identity
The ultra-luxury sector is ‘boundaried’ by the notion of sprezzatura. As such, the qualities of superior engineering, bespoke interiors, and stylish design, which their poor cousins in the luxury world work so hard to stress, are taken as inherent and go unmentioned by the ultra-luxury brands.
It’s essential to note that this notion of apparent carelessness is more readily thought of as a signaller of older, European-style class markers – particularly English class markers. We are reminded of the kind of person who uses ‘summer’ as a verb.
—-
Interesting.
I noticed other search results include UL holidays, flights, cruises.
Edited by M1AGM on Wednesday 22 March 20:33
Edited by M1AGM on Wednesday 22 March 20:34
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