rearaxle:
0
How come the minimum wage is paid to workers in a borough like Kensington and Chelsea where the parking meters get paid more per hour?
It’s relative in any case.
If your commute and living overheads are low - minimum wage paycheques can be a fortune.
If you commute to London though - £30k is a crap wage.
If you work across the road from where you live - minimum wage bolsters up the household income quite nicely.
If you have a cheap mortgage - this effect is compounded.
What’s wrong with society then, isn’t “Left” or “Right” politics - it’s the way the commuting and housing markets are completely broken by over-reacted tinkering by politicians literally Left, Right, and Center.
Anyone working in Belfast care to comment?
…Or paying a big mortgage in Scotland?
…or emigrating from London?
On topic now - A yield of 6.4% technically makes Stobart Group bonds - utter junk!.
“Investment Grade” can stretch to 5% - but beyond that? - Any would-be buyer of this paper should be asking serious questions of the company.
I, as a potential investor - wasn’t very impressed by the “onion skin” structure of the company as a whole. Too many skins would allow one part of such a “shell jungle” to go bust, default on bond payments, but maintain the wealth elsewhere in the group… Not a very good deal for both bond holders and share holders alike.
6.4% is a ruinous rate of interest to be paying - unless you have no intention of paying it back of course.
If you did intend to re-pay in full - then Stobarts is in real need of someone to re-structure that debt at a much lower rate of interest ASAP.
I don’t think potential lenders and investors give a ■■■■ what rates of pay Stobart pays it’s people though. They’d be more concerned about WASTE within the business. That includes “Natural Wastage” of staff, who leave for better paid work elsewhere…
The day company directors admit that “Waste is what we pay our people. Our Payroll” and out with it - then we might finally get some common-sense business practice as common law in this country. 