Not all companies are reckless

REGARDING the effect of the ASDA pull out. There were three councils involved in the decision over the original proposal. Was nobody from any of these councils made aware of any concerns or proposals for amendment from the ASDA or ASM side of the development.

REGARDING the effect of the ASDA pull out. There were three councils involved in the decision over the original proposal. Was nobody from any of these councils made aware of any concerns or proposals for amendment from the ASDA or ASM side of the development?ASM is a property developer and, as such, would probably be seeking mutual beneficial funding from third parties, such as banks and private equity firms, as well as the biggest investor ASDA. ASM and its partners would have played a greater role in the whole affair than seems to be mentioned by the media and interested parties. The financial contributors to such a project would have been prudent in their research and the projected costs against future profits from rental and upkeep of commercial and what would be public property, (effectively a PFI deal - private finance initiative). Despite what most of the public might think, with cause, not all financial institutions or parts of less canny institutions are totally reckless in their financial speculation. There would be meetings and conjuring acts with figures before a decision was made. The main point is that, after careful consideration, Exmouth was found wanting. This was from the viewpoint of people who wanted to invest in Exmouth. These people are people who like what they know and know what they like - future juicy returns. On the other hand, and I know this will be difficult for some people reading this, but have some sympathy for the head of ASDA. If he made the wrong call, he might be recalled to Wal-Mart central command and suddenly dropped into a 'pool of piranhas'. The trouble is this. Exmouth is not seen as a viable proposition for the foreseeable future. Anyone who wants to drink to this, or have a go at people who have illusionary and transitory positions of power because of the rosette they wear, should think again. This future is shared by everyone in Exmouth, both socially and economicallyPaul John Bishop,6 Old Bystock Drive, Exmouth.


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