What's the deal with the Virgin group?

[unicorngymnastics]

Have seen Richard Branson getting a battering in the press for wanting a government hand out to help Virgin Atlantic out. However, on his daughter Holly's Instagram page there are lots of comments from Virgin employees who seem to love and worship him.

Is Branson (and the brand) as bad as the press are making out. The statement he released is very keen to point out how much the Virgin business are putting back into society.

The major problem that airlines like Brason's will have is that they aren't the primary "national" airline and govts know that saving one strategic airline may be the limit of their airline rescue capacity. E.g. the Australian govt will know they may need to rescue Qantas and will be saving themselves for that moment.

I think the key words here are 'Virgin business'.

Richard Branson isn't running a business out of the goodness of his heart. He's running a business to make money. Whatever he 'puts back into society' is never going to put his profits at risk. If he can get some free money off the government (ie off us tax payers) then he's going to have a go isn't he?

'Putting back into society' is only ever going to be

I'm waiting on a refund.

21 working days to acknowledge refund is due and then 90 days to process refund!!!

Why is this when Easy Jet have refunded within a couple of weeks?!

I'm not impressed!

He's a tax exile, now wanting a bailout from the governments he avoids paying tax to

He should be wiped out. The companies can be rescued out of bankruptcy by a competitor

He approached both the UK and Australian governments for bailouts.

Australia has said no because Virgin had massive debts and was struggling anyway even before the pandemic (plus its own shareholders were refusing to bail it out). Our government has told him to resubmit his application for taxpayers money because the one he had submitted was unsatisfactory.

According to the BBC, "billionaire Richard Branson" hasn't even paid any UK income tax for 14 years because he lives in the tax-free British Virgin Islands.

Virgin Australia has today gone into administration.

I am sorry for those airline employees who have now lost their jobs but it does sound to me as though their employer was rather too busy making sure his income was safe and secure to bother much about theirs.

He's not an altruist.

Another victim of the free market.

Odd how they love the free market when they are making money and hate it when they aren’t.

There seems to be very little social responsibility in industry these days.

I’m off to re-read North and South.

The statement he released is very keen to point out how much the Virgin business are putting back into society.

People who live in areas where Virgin operate privatised health services would question that perception.

It's not a British business.
He pays no tax
He doesn't live here

Thousands of other British businesses are folding with no bail out

Oh yeah, and he sued the NHS

Didn’t he also sue the NHS for missing out on a contract and get a £2m payout of tax payers money.

Isn’t he worth over £4 billion? Surely he could scrape together what he needs himself, whilst he’s hold up on his luxury, private island!

Is Branson (and the brand) as bad as the press are making out.

Under the surface he has got where he is by virtue of (initially) his family's money and then by being a ruthless businessman.

On top of that for a long time he got an easy ride from too many people because of his David vs. Goliath (in the shape of BA) act , and "man of the people" persona.

He hasn't changed, it's just that people are finally noticing..

I do feel sorry for his employees ( I know a few) , many of whom do pay tax in the Uk ( and Australia)

He's a master manipulator of the media. Why is he putting up his Necker Island home as collateral? He has billions.
He sued the NHS for £2 million and likes the capitalist system when it suits him. Lots of informative articles around about how he runs companies 'at a loss' by moving money, investments and shares around. Virgin Australia running at a loss, Virgin Health running at a loss for 10 years while turning over billions and never paying corporation tax.

He's a tax exile, now wanting a bailout from the governments he avoids paying tax to

He should be wiped out. The companies can be rescued out of bankruptcy by a competitor

This ^

I also know people who worked for them at their Oxfordshire home, they treated their staff appallingly. They would be super nice, generous, make them fee part of the family.... when they wanted something but totally ruthless and cold when they were no longer needed. Saw people as a disposable commodity

www.dailymail.co.uk/news/article-1194579/Virgin-boss-Richard-Branson-urges-Government-bail-British-Airways.html

He's changed his tune

Richard Branson owns only part of Virgin Atlantic doesn' he? Delta own 49%

I am very keen to see how this pans out as have flights to the USA booked which I doubt we will be using.

Richard Branson owns only part of Virgin Atlantic doesn' he? Delta own 49%

51% Virgin Group, 49% Delta.

Delta are in line for US Gov support to the tune of $5.4 billion.

Would Delta be prepared/be allowed to support/buy out Virgin Atlantic..would it be in Delta's interests to do so..answers on a postcard....

Virgin is a brand. It comprises maybe 200+ independent corporate entities. Some have no input from Virgin and just use the name (ie Virgin Wine) and some where Virgin have an ownership stake (Virgin Atlantic)

They look after employees very well. I worked for a Virgin company for only two years and met Richard Branson twice. He's very personable. DSis did Virgin Vie cosmetics - she was invited to some garden party for achieving top sales and met him. They are very good at making all employees feel important.

He's changed his tune

Karma within his own lifetime. He must be bad. 😂 Would love to be a fly on the wall at the BA exec meetings right now. 😂😂😂

Virgin is a brand.

..and reading some of the specialist press it appears that is one major stumbling block to a bail out. The Virgin Atlantic "brand" doesn't actually own much in the way of tangible assets...(TBF many airlines operate in a similar manner)..

I'm not sure Necker Island comes close to the amount of collateral that is required, but it's perhaps good for the "optics".

Would love to be a fly on the wall at the BA exec meetings right now

The Boss of IAG, Willie Walsh, is very unhappy with the idea of anybody getting a bailout at the moment....last man (airline) standing and all that......

I have no pity for him. He is vile. He was in charge of paediatrics where I live via Virgin Care. His company did not provide the speech therapy that my LA paid him to provide. He lost the contract, didnt provide the service then sued the nhs.

Paediatric care for disabled children.

He is odious.

He gets to the top climbing over the bodies of those below him. My son had to leave mainstream and go into specialist provision because he fell behind, not getting therapy. All at the taxpayers expense plus the expense to the NHS of being sued onto top of his contract fees.

He would probably get the bailout ons the sue the government. How can he beg for helping after that kind of behaviour?

Virgin Australia has gone into voluntary administration today.

www.bbc.co.uk/news/world-australia-52363428

My thoughts on Branson had echoed what others have said on here but I was surprised by the support on their social media (negative comments were there). I wondered if I had missed something and the press were going after him but clearly not.

I was surprised by the support on their social media

They've got a very good PR team. I'd be very suspicious about any supportive tweets claiming to be from Virgin employees

I'd be very suspicious about any supportive tweets claiming to be from Virgin employees

As a former employee, in touch with many current employees, I wouldn't be suspicious at all.

If his business is profitable then he can borrow from the bank.