Page 2 of 2 FirstFirst 12
Results 16 to 30 of 30

Thread: Twiggy Forrest

  1. #16
    Join Date
    Dec 2005
    Location
    South Australia
    Posts
    3,859

    Default

    Most likely they (The 100 workers ) could not find $200,000,000

  2. # ADS
    Google Adsense Advertisement
    Join Date
    Always
    Location
    Advertising world
    Posts
    Many





     
  3. #17
    Join Date
    Nov 2004
    Location
    Redlands area, Brisbane
    Posts
    1,336

    Default

    Quote Originally Posted by woodPixel View Post
    The aspect of "workers should own the means of production" kept coming back to me, especially within the issue of share ownership. Made me wonder, why, if a workers job is so important, do they not invest more into the share market (capitalism) to own the production of the business (Marxism). If not their own business, but someone's business.
    It is indeed a conundrum.

    The problem is (in this particular case) is broader than the capital needed to own and operate a boot factory.

    The R M Williams brand by itself is worth far more than the factory that makes their boots. However, the factory without the brand probably would be only marginally profitable. You may be better off working for wages than being a (part) owner of a boot factory.

    Then there is the rest of the operation of warehouse(s), stores, et cetera.

    The other thing about the whole chain of transactions that triggered this discussion that I barely touched on is this: The company may have well folded entirely if another owner had not stepped up to buy RM's earlier.

    As it is, the company is still running without an interruption in trading. The brand value has been maintained (and arguably improved) and the boot factory is still operating and employing people that make a very fine product. The process was not ideal, but the outcome is better than what looked like the inevitable outcome.

  4. #18
    Join Date
    Jan 2007
    Location
    Katoomba NSW
    Posts
    4,522

    Default

    Quote Originally Posted by woodPixel View Post
    why don't the 100 WORKERS buy the company THEMSELVES and ensure they retain a job under their own terms.
    Because TF paid 190 million dollars for the company. Thats nearly $2M per employee. I don't know about you but even checking down the back of the couch I can't scratch up $2M.
    Although I might go and check......just in case.
    Those were the droids I was looking for.
    https://autoblastgates.com.au

  5. #19
    Join Date
    Nov 2004
    Location
    Redlands area, Brisbane
    Posts
    1,336

    Default

    Quote Originally Posted by NCArcher View Post
    Because TF paid 190 million dollars for the company. Thats nearly $2M per employee. I don't know about you but even checking down the back of the couch I can't scratch up $2M.
    Although I might go and check......just in case.

  6. #20
    Join Date
    Feb 2016
    Location
    Canberra
    Posts
    4,080

    Default

    It was only my thoughts. It wasnt my intention to create discord, nor enmity.

    Seems strange to pay $2 mill per employee.

    Once, I was in IT and during the DotCom, we did a MBO. From memory it was $120k per employee and the biz was an jackpot-ATM.

    Why would Twiggy buy under such terms? Perhaps let it fail, buy the ops/name from creditors for peanuts and re-hire everyone.

    I'll need to read the articles.

    Either way, I'm pleased that an iconic business was "saved". I like the clothing.



    edit - It has ~900 employees and an absolutely huge distribution system. Twiggy paid only 9X on profits. This put it into the bargain-bin and an excellent opportunity, especially since he bought 100% and gave all the minority shareholders the flick... R. M. Williams (company) - Wikipedia. I'd wager heavily that this will be listed by EOFY. Classic buy-strip-loadupWithDebt-flog....

  7. #21
    Join Date
    Apr 2018
    Location
    Nsw
    Age
    61
    Posts
    957

    Default

    Te other aspect of ownership by the employees is not everyone is interested or perhaps capable of investing in and running a business
    Apart from differing financial circumstances, aspirations, abilities etc you have people at different stages of their life perhaps approaching retirement so it is of no interest to them .
    Personally I would not want to get involved with having X amount of business partners and the problems that would come with that

  8. #22
    Join Date
    Jun 2009
    Location
    Elizabeth Bay / Oberon NSW
    Age
    73
    Posts
    875

    Default

    Quote Originally Posted by China View Post
    Glider I don't know what clarifies a boot as a farm boot, I have personally owned several pairs of RM Boots, ( made in Salisbury South Australia) The current pair have seen years of service on the opal fields and have been resoled
    They are expensive I would still pick Australian made over foreign made Blundstones
    Something which has steel capped toes, doesn't cost an arm and a leg, has rubber soles and heels and slips on and off easily before entering the house. I'd buy Rossis if they had steel caps but have yet to find an Aussie made boot which fits all criteria.

    I've also owned RMs for 60 years and as long as the leather remains intact (Photo below), they last forever and are the most comfortable boot around. Back when I was not frightened of falling off a horse, the leather soles on RMs were de rigeur. These days my good pair is for town use only.

    Old RMs.jpg

    mick

  9. #23
    Join Date
    Apr 2007
    Location
    Sydney
    Posts
    741

    Default

    Quote Originally Posted by Bob38S View Post
    Mine just about worn to death both here and overseas.

    They are so old style that they came with leather heels, very noisy and were replaced with rubber, great.

    My only issue these days is finding an old fashioned “boot” maker as the ‘lastic sides have given up the ghost and need replacing.
    Send them back to RMW - they will replace the elastic or, if you want, fully refurbish them.

    They also have a current (as of late Oct 2020) a "trade in" deal - send in your old RMW boots & get $150 discount off a new pair.

  10. #24
    Join Date
    Aug 2005
    Location
    Queensland
    Posts
    2,930

    Default

    Thanks for that, haven’t heard anything about it but will certainly look into it.
    Regards,
    Bob

    Absence of evidence is not evidence of absence.

  11. #25
    Join Date
    Feb 2006
    Location
    Perth
    Posts
    25,622

    Default

    Quote Originally Posted by Glider View Post
    Something which has steel capped toes, doesn't cost an arm and a leg, has rubber soles and heels and slips on and off easily before entering the house. I'd buy Rossis if they had steel caps but have yet to find an Aussie made boot which fits all criteria.
    Last I heard is Rossi is Aussie in name only and their roots are made in Indonesia. Some Steel blue boots are also made OS.

    Longs similar lines I wouldn't hold my breath in Twiggy's accountants keeping the manufacturing in Oz either.

  12. #26
    Join Date
    Nov 2001
    Location
    Parkside - South Australia
    Age
    43
    Posts
    3,244

    Default

    I was out at the Rossi factory about 12 months ago to get some bargains from their factory outlet store. I wouldn’t be surprised if there cheaper range were manufactured O.S. but from what I could see it was still an operational factory. Also picked up a pair of steel caps, elastic sided, rubber sole with heal, as work site boots!
    Now proudly sponsored by Binford Tools. Be sure to check out the Binford 6100 - available now at any good tool retailer.

  13. #27
    Join Date
    Dec 2007
    Location
    Sydney
    Posts
    1,627

    Default Why leather soles for horse riding?

    I went horse riding a few weeks back on a 3000 hectare property near Sofala.
    Well I sat on the horse (a bloody tall one!) and it followed the horse in front sedately.
    Very relaxing and much easier on the bum than the bike saddle from the previous week’s madness around Mudgee,Dunedoo,Gulgong,Mendooran and Ballimore.Pubs were good.
    Always liked horse riding especially when the horse is interested in the job at hand and you just hang on and look like you know what you’re doing.
    Some thing else to blame when you bounce off rather than your own stupidity or lack of skill/overconfidence as on a motorcycle.
    Lots of stuff I did way too little of back when I was young enough but looks like I need to raid the slush fund for an ebike to flatten out those hills and power thru the sand.

    Bit off subject but hey better than the conversations after a few cool drinks with people you’ve known for 50 or 60 years. You can just about number the jokes and stories.
    H.
    Jimcracks for the rich and/or wealthy. (aka GKB '88)

  14. #28
    Join Date
    Aug 2011
    Location
    bilpin
    Posts
    3,041

    Default

    As a young fella I spent a lot of time looking at cattle bums between a horses ears. The reason for leather soles and heels is to allow the foot to slip from the stirrup backwards if thrown. Nothing worse than a drag round the paddock. The high heels (cuban ) prevent the foot sliding forward through the stirrup and the rider then becoming caught by the heel.

  15. #29
    Join Date
    Nov 2001
    Location
    Parkside - South Australia
    Age
    43
    Posts
    3,244

    Default

    Quote Originally Posted by Sir Stinkalot View Post
    Along with Rossi boots ..... Adelaide at the forefront of manufacturing.
    Well .... as we enter our 6 day COVID lockdown the paper is reporting .....

    “Rossi Boots will no longer be made in Adelaide, ending a 110-year manufacturing tradition and costing 35 jobs.”

    So that is that.
    Now proudly sponsored by Binford Tools. Be sure to check out the Binford 6100 - available now at any good tool retailer.

  16. #30
    Join Date
    Feb 2006
    Location
    Perth
    Posts
    25,622

    Default

    Quote Originally Posted by Sir Stinkalot View Post
    Well .... as we enter our 6 day COVID lockdown the paper is reporting .....

    “Rossi Boots will no longer be made in Adelaide, ending a 110-year manufacturing tradition and costing 35 jobs.”

    So that is that.
    Interesting to see they blame COVID - I suspect it will get the blame for lots of other things too.

Page 2 of 2 FirstFirst 12

Similar Threads

  1. N.S.W. Forrest blade
    By russell131 in forum WOODWORK - Tools & Machinery
    Replies: 0
    Last Post: 25th Jun 2020, 09:01 AM
  2. Forrest Blades
    By chemfish in forum TABLE SAWS & COMBINATIONS
    Replies: 0
    Last Post: 14th Oct 2013, 01:18 PM
  3. Free small pine forrest
    By danielhobby in forum SMALL TIMBER MILLING
    Replies: 7
    Last Post: 26th Feb 2011, 02:09 PM
  4. Forrest Commission Auction/Sat 24thHarvey
    By John Saxton in forum TIMBER
    Replies: 13
    Last Post: 26th Jun 2006, 04:33 AM
  5. Forrest Gump and Saint Peter
    By Kev Y. in forum WOODIES JOKES
    Replies: 1
    Last Post: 13th Sep 2004, 10:09 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •