Evil Diaries: Oil is well at Chariot

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Evil Diaries: Oil is well at Chariot

I am sure that Mr Hetherington of P&O does not need any assistance from me but it seems quite obvious that had he given the union notice of his intention to halve his employees’ wages there would have been retaliation costing more than the current costs arising. That is why he said he’d make the same decision again.

Twenty years ago it was feared that overseas labour costs would destroy job opportunities here. In the event, the minimum wage per hour imposed by HMG succeeded and mass unemployment did not occur.

However, P&O simply could not compete with wage rates paid elsewhere in the world and had no choice. P&O had to break the law since the legislation was so badly drafted. The fault lies squarely with HMG.

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Knights (KGH) warned on a slowdown in its legal business but failed to point out that the business is slowing down because the prime movers are getting out. Foolishly, I closed my short at 200p and the price is now about 140p. I cannot see why it should improve either. On balance, I doubt if it is wise to have firms of solicitors publicly quoted. For public quotation puts too much pressure to resist the spivs that inevitably come to the fore. Over to the Law Society.

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Pittards (PTD) reported and at long last they are coming out of the downward curve. Further, trouble at Tigray, which I feared would scupper the Ethiopian business, has been accommodated. This leaves PTD as a strong hold below 80p.

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Chariot (CHAR) has been reviewed by Cenkos in a really extensive buy note dated 21st March 2022. The shares may stand at 12p but Cenkos thinks that before allowing for adverse risk the shares are worth 300p and, after “risking”, 51p. Hurry now while stocks last. Family Cawkwell fancies a really big rise.


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