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RTM Boy

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RTM Boy last won the day on August 21 2019

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  1. Sold out already...apparently Shame about the date position - should be colour-matched at 6 o'clock, or not there at all.
  2. Were these popular in the Fens then? I think I've certainly been guilty of having more money than sense. Not anymore. But that's not because I've become any more sensible Should the situation revert to normal, and I've finished gardening in my Fifty Fathoms, I'll dress for dinner with this on my wrist. A trifling £23,600.
  3. Blue hands for a blue sky day. HAGD everyone
  4. MNO I'd buy this for the full SRP £11,800, not even ask for a discount or sweetener, and wear it to do the gardening. Wouldn't wear it swimming though - wouldn't want to get it wet.
  5. Interesting case shape with the flexibility of not being an integrated bracelet. Seems decent, good value, good movement. But I'd never heard of them until now.
  6. How about a Davosa Trailmaster? I think it'd would go well with the Ball...
  7. There's also the matter of wearing under a cuff or sleeve and how much room there is to spare between the wrist and cuff, which in turn depends on the type of garment, how stiff or flexible the sleeve or cuff is...or whether you're living a short-sleeve lifestyle on a yacht on the Aegean sea, where for once size genuinely doesn't matter!
  8. The UK SRP is £7,100 available in black, blue or silver-toned sunray (the latter is showing as 'out of stock'), with the El Primero 3620 inside operating at 5hz and 60hrs PR......apparently. Really nice looker, but I'm also not an integrated bracelet person, although it is of course way outside what I could conceivably save up for, so it hardly matters. The website states the functions as: "Hours and minutes in the centre Date indication at 3 o'clock, 1/10th of a second indication at 9 o'clock." So, it seems to work as a two-hander, which means the 5hz effect is only in terms of the 1/10 of a second...as far as I can work out. I'm not sure if that means the sub dial is just running constantly - there doesn't look to be even a hidden pusher(?)
  9. CVC and Permira used the debt they loaded onto the AA's balance sheet to take back most of the equity used to buy it. In 2007 the PE owners merged the AA with SAGA and took a combined £1.8billion dividend. They then listed The AA through a complicated IPO in 2014, in collaboration with other PE firms, which allowed the PE owners to take another £1.3billion out in cash, leaving the AA with £3.35billion of debt at time of listing. So the PE owners between them paid themselves a total of £3.1billion cash (partly attributable to SAGA). That most certainly is "walking away with the cash" and most definitely not "a little money". And you don't have to take my word for it, it's all explained in detail in the FT article "Stalling AA Calls For a Rescue of Its Own" of 7/8/20. Here, if you are a subscriber and want to read all about it: https://www.ft.com/content/76915519-238c-4080-b5cb-24a2c7cef263 The debt at the time of purchase completion for £219m in March 2021 was £2.6 billion. The AA was required to make £350K in interest payments alone every day. What has happened in the last 10 months regarding its current PE owners and the AA's finances I don't know, they are not yet publicly available. All facts. All in the public domain. Now back to the thread...
  10. I can't speak for other examples, because I am not sufficiently informed. I do find it very strange that today a 'business' with no tangible assets left whatsoever, that at the last count owed £2.6 billion in debt and was paying £350,000 every single day in interest charges alone, can be considered solvent for on-going business purposes in any normal sense. From its creation with charitable aims in 1905 until 1999 it was owned mutually by its members and then, through the demutualisation craze of the 1990s, was sold essentially debt-free to Centrica plc for £1.1 billion. When CVC and Permira bought the AA in 2007 it was valued at £3.35 billion, almost the exact amount as the debt the PE companies then loaded onto the balance sheet and walked away with the cash, effectively making the AA pay for its own acquisition. The latest sale to new PE owners through the holding company Basing Bidco Ltd completed in March last year valued the AA at just £219m - that's just 6.5% of what it was worth when CVC and Permira took it over 8 years before. The PE perspective is clear when the new owners stated that they did not expect to see "material headcount reductions". You can draw your own conclusions as to whether that sounds like they see its people as assets. My friend wondered whether he should consider himself 'material' or 'immaterial'. Anyway this is diverging far from the OP, so I'll stop there.
  11. Yeah, plenty of victims, like my mate who works for the AA, which has been royally asset-stripped by a succession of PE owners, notably CVC and Permira, loading it with an eye-watering £3.4 billion of debt hanging around its balance sheet like a dead albatross, whilst the only tangible asset left is the brand name. They even closed their national training centre in Melton Mowbray sacking 100 there alone. Being made to work longer hours for less money. Plenty of victims, I'm afraid. And the AA has just changed hands yet again, with the new intellectual geniuses of PE in charge being Towerbrook and Warburg Pincus having taken it private, again, faced now with £2.6 billion of debt and £128m annual interest payments alone amounting to over half the AA's purchase price! The other victims are those taking out AA breakdown cover, which is more expensive than it would have been in order to pay for the debt and interest. No wonder they can all afford JLC and trinity watches. Sorry if I sound cross, but when you know people impacted as a result of asset stripping it brings the negative sides of such activities into focus.
  12. Most of the time sleeves cover the watches the antiques dealers are wearing, which makes it doubly hard to ID them, but I've seen Christina Trevanion wearing what I'm pretty sure were a Datejust and a Tank (not at the same time ) That's taking the 'beater' tool watch to a new level. I could be wrong, but I'd say that needs a new crystal. Just as well the hands are white, rather than the high-polish SS we find on most watches today, or it would be pretty illegible. Which makes we wonder why do so many modern watches have high-polish SS hands on a black dial these days when at many angles the hands simply 'disappear' against the dial? Which perhaps proves that PE firms are better at asset stripping than banks are.
  13. The other thing is that you taste changes over time - it just does - you refine what you like with experience and maturity, learn from your mistakes, plus the design cues and use scenarios that motivated your choices 10 years ago may well no longer be your cup of tea today. No-one can expect to take up this hobby and get it all right at the first, second or third go... Or in my case the 42nd go... The best way to avoid mistakes is to have so little money to spare that you have to save for so long that by the time you've got the funds you've changed your mind. It's flipping without buying!
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