UKC

I was talking to a friend last night about flying and I mentioned that I liked virgin, I thought they was a good company and felt safe on their planes (this is based on a few flights but not much more) I've always quite admired Mr Branson but my friend starting bleating on about how he was a crook and very underhand e.t.c. to get started. I suppose I should read a few books to find out more but does anyone here have any opinions?

I also quite like easyjet because they have new planes and seem like a decent enough company (even though on a flight last week I overheard a pair of the most inbred village idiots talking about their racist views on things- I asked them if they thought their conversation was appropriate and they shut up pretty quick- a saffer and an aussie).


Kev

In reply to arctickev:

Stick to the planes. The trains are shite.

>In reply to arctickev:
>he was a crook and very underhand e.t.c. to get started.

Not sure about him being a crook, but being underhand to get started is nothing to worry about. If he wasnt underhand, the competition would have been, especially when the competition was state-sponsored-mega-corporation. Business is business.

In reply to arctickev:

I am pretty sure that Branson does not have a significant shareholding in Virgin Atlantic. I think he sold a controlling stake to Cathay Pacific quite a few years ago, and has since either sold out completely or retained a very small stake.

Same for the Australian low cost carrier he started (Blue was it?). Same for Virgin Megastores, Vigin Coke, Virgin Mobile.

The Virgin name is everywhere, Branson has started lots of business trading on the brand.

IIRC, the only one he, through his offshore web of holding companies, actually controls is Virgin Rail.

Flying Virgin does not add to the wealth of Branson, if that's your concern.

regards
lowerSharpNose

In reply to lowersharpnose:

Conversely I am pretty sure that he loves his airline and sold interests in all the other Virgin group of companies to focus on the airline.

I wonder which of us is right?

In reply to arctickev:

Branson's a very shrewd cookie, who's not afraid to take a risk.

This was the young man who put all of his resources into backing an unknown musician with an idea that no established record label would touch. -- Mike Oldfield, Tubular Bells and Virgin Records -- the rest is history.

A hard man to do business with who doesn't suffer fools gladly, yet has the knack of always seeming to have his staff 'on side'.

Doubtless he's done a few 'sharp' deals in the past, but what successful business man hasn't. He's been at it long enough for any significant skeletons to have surfaced , or he's just been even more clever at not being found out.

You dont hear of many tales from disgruntled (ex)employees.

In reply to lowersharpnose: You are right to mention his web of holding companies. He shuffles his assets between these in a broadly successful attempt to hide the true state of his finances, in a manner reminiscent of the late Robert Maxwell.

In reply to Alan Stark:

Yep, when he was 19 or 20, he spent all his money on publicising the contraceptive pill in the UK (funding the printing and distribution of information leaflets etc), and thus indirectly contributed massively to the sexual revolution.

I wonder if he had ulterior motives

In reply to lowersharpnose:

Sorry, but that's just plain nonsense.

Branson now has significant businesses in air-travel and telecomms in particular.

He does use complicated capital and fiscal structures. He also plays loopholes (the tax avoidance on planes by flying them to NewZealand from Australia or somesuch - forget the details - was in the Eye this week).

He's also fabulous at the publicity game and very very creative and clever with his deals.

I've never met him, but I respect what he's done.

J

In reply to The Crow:

Not me.

According to http://www.virgin-atlantic.com/en/gb/allaboutus/ourstory/forstudents.jsp


On 20 December 1999 Richard Branson signed an agreement to sell a 49% stake of Virgin Atlantic to Singapore Airlines to form a unique global partnership. The cost of the transaction to Singapore Airlines was £600.25 million, which included a capital injection of £49 million and valued Virgin Atlantic at a minimum of £1.225 billion. The deal was finalised in 2000. Richard retains the controlling 51% stake in the airline.

And here

http://www.virgintrainsmediaroom.com/media/adobepdf/n/5/VT_Fact_File_Jan_20...

He also owns 51% of Virgin Rail.

Perhaps he has just borrowed heavily against his Virgin Atlantic stake. That rings a bell, who knows.

regards
lowerSharpNose

In reply to Moacs:

I have to agree with you, I was talking rubbish.

regards
lowerSharpNose

In reply to Moacs:

i have met him and he seemed like a nice enough chap. I know nothing about how he runs his business though.

In reply to doz generale:


Someone I know quite well works with him - and I'd say that sounds about right. Even the V staff at the airport speak well of him - always a good sign.

J