Spr1985 Posted April 4, 2023 Report Share Posted April 4, 2023 Time to do some tidying up of facts. Continue reading for the long read/skip to the bottom for the facts :- Richard Branson :- is a man (I assume….not heard that he identifies as a toaster or any other inanimate object) and not a company. he is not bankrupt nor filling for bankruptcy anywhere to my knowledge. Virgin orbit :- a COMPANY 75% ownership belonging to Virgin group (another company) , This firm develops launch services for small satellites as well as human spaceflight operations. Its first mission, the LauncherOne, was launched in 2021 and deployed 10 CubeSats. It completed its merger with NextGen Acquisition corp II in December 2021. -(not solely owned by richard/virgin group) filled for chapter 11 bankruptcy protection - allowing the re jigging of a company and its assets to allow it to continue operating. It’s assets outweigh its debt by circa £70m. https://news.sky.com/story/amp/richard-bransons-satellite-launching-firm-virgin-orbit-files-for-bankruptcy-protection-12849520 Virgin galactic (yet another separate entity company not owned entirely by Richard) Virgin Galactic is a spaceflight company founded by Richard Branson and the Virgin Group conglomerate which retains an 11.9% stake through Virgin Investments Limited. It is headquartered in California, and operates from New Mexico. the other 88.1% is owned by shareholders including me. Some of the other more well known investors include - vanguard and Black rock. so the FACTs in summary :- richard Branson - not bankrupt VIRGIN ORBIT - filled for chapter 11 bankruptcy protection (not bankruptcy) virgin galactic - not bankrupt virgin group - not bankrupt. Quote Link to comment Share on other sites More sharing options...
ditchman Posted April 4, 2023 Author Report Share Posted April 4, 2023 (edited) i still wouldnt go for a wizz about on one of his rocket thingies.....people who invest their money in a venture with the reliability of a poor quality xmas cracker with his name on it.....are bound to be disapointed......... i remember when his venture started several years ago..and all the hype that went with it....i remember whispering under my breath even then.."oh chrust ..'ere we go again..there will be tears before bedtime" (why let the truth stand in the way of a good story ) Edited April 4, 2023 by ditchman Quote Link to comment Share on other sites More sharing options...
Spr1985 Posted April 4, 2023 Report Share Posted April 4, 2023 3 hours ago, ditchman said: i still wouldnt go for a wizz about on one of his rocket thingies.....people who invest their money in a venture with the reliability of a poor quality xmas cracker with his name on it.....are bound to be disapointed......... i remember when his venture started several years ago..and all the hype that went with it....i remember whispering under my breath even then.."oh chrust ..'ere we go again..there will be tears before bedtime" (why let the truth stand in the way of a good story ) Lol I’m in full agreement Ditchy, you wouldn’t catch me boarding one even if I was paid. but still the truth and facts should be known. Although everyone can feel free to crack on with the story….no skin off my nose Quote Link to comment Share on other sites More sharing options...
ditchman Posted April 4, 2023 Author Report Share Posted April 4, 2023 1 hour ago, Spr1985 said: Lol I’m in full agreement Ditchy, you wouldn’t catch me boarding one even if I was paid. but still the truth and facts should be known. Although everyone can feel free to crack on with the story….no skin off my nose you are quite right to put the facts out there.....(i think most of us know that Branson id not directly involved).......he really needs to be more careful who he leands his name to...because it invaribly goes tits up do you know the present position of the Cornwal spaceport.............read it had been put on serious hold and people "furloughed"...? Quote Link to comment Share on other sites More sharing options...
Spr1985 Posted April 5, 2023 Report Share Posted April 5, 2023 16 hours ago, ditchman said: do you know the present position of the Cornwal spaceport.............read it had been put on serious hold and people "furloughed"...? From the reading that I’ve done which isn’t a great deal as I soon realised it didn’t effect my position in virgin galactic, I believe the port in Cornwall is owned and operated by the local council, it is used (no doubt under contract) by virgin orbit amongst other space based companies, from my earlier post virgin orbit have filed for chapter 11. I have heard about the furloughed staff but would assume a) it’s only the virgin orbit staff* or b) the council and other companies at the port have had all of their eggs in one basket (working alongside virgin orbit) and are also furloughed. * the virgin orbit staff being furloughed and therefore paid in one way or another is a far better option to allow re jigging of the company and assets than an out right lay off of all staff. I’ve included a link below that will give you the rundown on the Cornwall port and who owns it and who is based there etc :- https://spaceportcornwall.com/about/ Quote Link to comment Share on other sites More sharing options...
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