I take it all the people so upset about this had bought Cadburys shares and had their say in how it was run? Or just stuff their faces with Dairy Milk once in a while
Rubbish really. A handful of fund managers were lobbied by Kraft.
This small band of people(possibly less than 10 individuals) holding collosal quantities of shares in Cadbury, made the buy-out happen.
Share owning public never had a chance. But then again, share holders are only out for the returns, aren't they ?.
So by holding Cadbury shares, I couldn't have stopped the take-over.
Fund managers ?, funding peoples pensions…Its a strange system.
If you worked at Cadbury, was just about to retire, AND had a private pension run by one of the Cadbury holding fund managers. Then perhaps the buy-out and subsequent profit for the fund, is in your interest ?.
The profit the fund managers make from the sale of Cadbury, and return to the fund, is used to pay-out your pension.
Question though. If we keep exporting our jobs….whos going to be earning, in order to buy anything ?.
Cadbury was a UK employer and a global exporter, bringing in money from abroad, generating primary wealth. This could then be re-distributed within our economy, etc, through the channels of wages, taxation, retail consumption.
The Gov goes on about how the UK invent brands, build them up and then sell them on, and that we could still do this now. But this doesn't happen over night, as mentioned above, Cadbury had been around since the early 19th Century, ending up a "blue-Chip" FTSE 100 company by the time it was deemed attractive enough for Kraft to borrow 7 Billion from….RBS to fund the buy-out.
And all this against Mr Buffet's better judgement.
Can we really "back-fill" the gaps left in UK industry when a successful UK company is sold overseas. As quickly as we are disposing of them into foriegn hands, who, like Kraft, will probably chase the potential for reducing the manufacturing costs by moving ops abroad and leaving UK workers to sign-on.
Oh, I dont have the answer, look at this stuff for too long and you see how messy it gets. I just can't help thinking its a shame that people will be out of work because of this. And for those pointing out that the facory was going to be closed anyway. Well, perhaps that was because it was an easier choice for the directors than to decide to search for a way of keeping it open ?…When you run several factories and one isn't doing so well. You have more choices than just selling the entire company.
Well, if you own the company, that is.
S.