Southampton factory site sold to developer (From Daily Echo)

EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

EXCELLENT!
>
After decades of inactivity and neglect you have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City people.

..and again George4th, it really is that good, go on, say it again...

George4th wrote:
EXCELLENT! > After decades of inactivity and neglect you have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City people.

Great things are happening under this council such as strikes that have made us a laughing stock, childish spats with Liverpool, Council Leader getting done for have no insurance and cuts to social care.

voiceof thepeople wrote:
..and again George4th, it really is that good, go on, say it again...

Good news is worth repeating!
(The website showed "error" so I re-wrote it).

As the wife of someone who was made redundant when NXP was closed, (as a direct result of “Private Equity” greed causing the company to be sold off bit by bit to pay the loans back,) I’d like to pass on his comment:
‘It seems to be being replaced by a few warehouses. So that’s 500 odd high tech engineering jobs for a few low pay jobs. “Progress.”’

SilvanDryad wrote:
As the wife of someone who was made redundant when NXP was closed, (as a direct result of “Private Equity” greed causing the company to be sold off bit by bit to pay the loans back,) I’d like to pass on his comment:
‘It seems to be being replaced by a few warehouses. So that’s 500 odd high tech engineering jobs for a few low pay jobs. “Progress.”’

All loans come with conditions and if the day to day profits couldn't generate enough to meet these conditions, the estate which provided the collateral is at risk. No buildings = no jobs unless costs are slashed which can be risky for the workforce but may give the company breathing space to restructure. As one who has helped start and build a company I can assure you that the hard work involved isn't handed over lightly.

Perhaps Torchie1 should research the history of NXP Semiconductors.

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Boatman wrote:
Perhaps Torchie1 should research the history of NXP Semiconductors.

NXP is a leading company in many fields that it is involved in. Quoted on the Nasdaq and worth many tens of millions of pounds, even in the current economic climate.

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

And what did the previous councils achieve in 30 years? Absolutely nothing! No Strategy, No Planning, and consigned Southampton to a decaying City with little to attract business, tourists or economy of any kind!
This council has got into gear and is making great strides to pull this City up by its boot straps!
>
If you are a Southampton City citizen and you want to see a better future for you and yours, take a look at these links!
>
http://www.southampt
on.gov.uk/s-environm
ent/future/ccplans/c
cvision.aspx
>
http://www.southampt
on.gov.uk/s-environm
ent/future/ccplans/v
ipproj/default.aspx

Have I missed something? The Council recently sold the freehold of 40 acres for 3.6M and now 17 acres of this have been sold in a "multi-million pound" deal, where "multi" presumably means much more than 3.6.
Sounds as though Royston has done a wonderful job....

I wonder how many useless wind turbines the developers will be required to erect on the site. The ones on the other side of the Millbrook Roundabout haven't worked for more than 2 days since they were installed.

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Go on show us when they borrowed money to build the sea city museum?
time & time again you & people come out with this total lie.
The money to build the museum came from grants & fund raising & had absolutely nothing to do with borrowing or robbing council workers,
When the council said they were selling this site there were moaners but these are empty buildings that will now bring jobs so well done Southampton Council.

loosehead wrote:

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Go on show us when they borrowed money to build the sea city museum?
time & time again you & people come out with this total lie.
The money to build the museum came from grants & fund raising & had absolutely nothing to do with borrowing or robbing council workers,
When the council said they were selling this site there were moaners but these are empty buildings that will now bring jobs so well done Southampton Council.

The money to run it was borrowed after the private sector pulled out of the project in the autumn of last year, leaving the Council to have to pay.
Those are the facts loosehead.
The private sector couldn't see a profit in it so they abandoned the idea. The same private sector which is supposed to be providing the employment to restart the economy. A failed experiment by this Government, demonstrated by the highest unemployment figues in 17 years.

Maine Lobster wrote:

loosehead wrote:

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Go on show us when they borrowed money to build the sea city museum?
time & time again you & people come out with this total lie.
The money to build the museum came from grants & fund raising & had absolutely nothing to do with borrowing or robbing council workers,
When the council said they were selling this site there were moaners but these are empty buildings that will now bring jobs so well done Southampton Council.

The money to run it was borrowed after the private sector pulled out of the project in the autumn of last year, leaving the Council to have to pay.
Those are the facts loosehead.
The private sector couldn't see a profit in it so they abandoned the idea. The same private sector which is supposed to be providing the employment to restart the economy. A failed experiment by this Government, demonstrated by the highest unemployment figues in 17 years.

As you clearly have the "facts" would you be kind enough to share them with us and give us a complete breakdown of the costs and how exactly the project is being funded?

SilvanDryad wrote:
As the wife of someone who was made redundant when NXP was closed, (as a direct result of “Private Equity” greed causing the company to be sold off bit by bit to pay the loans back,) I’d like to pass on his comment:
‘It seems to be being replaced by a few warehouses. So that’s 500 odd high tech engineering jobs for a few low pay jobs. “Progress.”’

Well a low paid job will mean just as much to someone with out a job - just as it did to your 'high tech' husband !!

Maine Lobster wrote:

loosehead wrote:

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Go on show us when they borrowed money to build the sea city museum?
time & time again you & people come out with this total lie.
The money to build the museum came from grants & fund raising & had absolutely nothing to do with borrowing or robbing council workers,
When the council said they were selling this site there were moaners but these are empty buildings that will now bring jobs so well done Southampton Council.

The money to run it was borrowed after the private sector pulled out of the project in the autumn of last year, leaving the Council to have to pay.
Those are the facts loosehead.
The private sector couldn't see a profit in it so they abandoned the idea. The same private sector which is supposed to be providing the employment to restart the economy. A failed experiment by this Government, demonstrated by the highest unemployment figues in 17 years.

So the £200-000 grant to fund the running of it hasn't just happened then?
Please tell me you don't believe it will take £5million to run it or as the unions have quoted to their members £10million?
The council own the building so £200-000 could pay ten peoples wages ( £20-000 a year)
or more for a year & by then the council will prove it's taking enough revenue for a private company to step in & run it.
This would then end up costing us nothing

You lot really make me laugh, a half asred report by a 'newspaper' that has a history of not reporting the full facts with figures plucked from thin air and you go off ranting about other projects that have been reported with facts and figures that people can not even agree on.

Millbrook industrial park was run down & needed a hell of a lot of money spent on it,one part was leased at a £i (penny?) a year it needed a hell of a lot of money spent on modernising it.
The council never had the money & if they had found it I can guess the theories posted in this paper.
They sold the site & now this company has found companies that are willing to knock down what's there & build new,
This will give work to someone to start with then they'll move in employing staff now please tell me how this is wrong without bringing up other disputes in the city

George4th wrote:

Maine Lobster wrote:

loosehead wrote:

Over the Edge wrote:

George4th wrote:
EXCELLENT!
>
You have to admit that good things are happening in the City of Southampton since this council took over! The future is looking brighter for future generations of Southampton City.

Like borrowing £5 million for the Sea City Museum, that will be paid back by the people of Southampton, this after being told the building of it would not cost the people of Southampton a penny, yes indeed great things like debt.

Rah Rah Royston, Rah Rah Royston,,,Go Georgie,,,Go Georgie

Go on show us when they borrowed money to build the sea city museum?
time & time again you & people come out with this total lie.
The money to build the museum came from grants & fund raising & had absolutely nothing to do with borrowing or robbing council workers,
When the council said they were selling this site there were moaners but these are empty buildings that will now bring jobs so well done Southampton Council.

The money to run it was borrowed after the private sector pulled out of the project in the autumn of last year, leaving the Council to have to pay.
Those are the facts loosehead.
The private sector couldn't see a profit in it so they abandoned the idea. The same private sector which is supposed to be providing the employment to restart the economy. A failed experiment by this Government, demonstrated by the highest unemployment figues in 17 years.

As you clearly have the "facts" would you be kind enough to share them with us and give us a complete breakdown of the costs and how exactly the project is being funded?

This he/she on about the £5 Million that this council borrowed from Croydon Council if they was it was not for the Museum, it was borrowed to fight the Unions its very own Council workers and the mass support they got from the public.
This money was used for outside legal fees, hiring of Contractors and false propaganda.
To me the Tory Party should pay this back and not the City.

In some ways it's good news that something will be done with the site. But have to agree with a previous poster - there used to be 100's of well paid high-tech jobs there (for 50 years). In my view, that's where the future of the country should lie and we should have a long term strategy to achieve it. The work done on-site was world class, state of the art silicon chip development. The only reason it ended up in tears is because Philips took the money (~$8 billion) and sold the company to a completely unsuitable new buyer who renamed it NXP - and borrowed most of the money to pay for it. NXP itself then ended up paying more than $500million a year in interest on the debt - effectively buying itself! Completely unsustainable leveraged buyout by (mainly U.S.) private equity company. Result - company decimated (not only in Southampton).

HerbertC wrote:
In some ways it's good news that something will be done with the site. But have to agree with a previous poster - there used to be 100's of well paid high-tech jobs there (for 50 years). In my view, that's where the future of the country should lie and we should have a long term strategy to achieve it. The work done on-site was world class, state of the art silicon chip development. The only reason it ended up in tears is because Philips took the money (~$8 billion) and sold the company to a completely unsuitable new buyer who renamed it NXP - and borrowed most of the money to pay for it. NXP itself then ended up paying more than $500million a year in interest on the debt - effectively buying itself! Completely unsustainable leveraged buyout by (mainly U.S.) private equity company. Result - company decimated (not only in Southampton).

Excellent summary of the sad story. I spent 40 years there fortunately retiring before these events unfolded.

HerbertC wrote:
In some ways it's good news that something will be done with the site. But have to agree with a previous poster - there used to be 100's of well paid high-tech jobs there (for 50 years). In my view, that's where the future of the country should lie and we should have a long term strategy to achieve it. The work done on-site was world class, state of the art silicon chip development. The only reason it ended up in tears is because Philips took the money (~$8 billion) and sold the company to a completely unsuitable new buyer who renamed it NXP - and borrowed most of the money to pay for it. NXP itself then ended up paying more than $500million a year in interest on the debt - effectively buying itself! Completely unsustainable leveraged buyout by (mainly U.S.) private equity company. Result - company decimated (not only in Southampton).

My mum use to work there on the 2pm to 6pm shift for Mullards, they use to supply transport to and from the factory from all over southern Hampshire, at a time when there was a few thousand women working there part time, I think at the time Mr Eagle was the sup there, who him self use to live not far from here.

For pity sake wrote:
Have I missed something? The Council recently sold the freehold of 40 acres for 3.6M and now 17 acres of this have been sold in a "multi-million pound" deal, where "multi" presumably means much more than 3.6.
Sounds as though Royston has done a wonderful job....

Very good point, selling the city assets cheap.

And, just to add, at its peak over three thousand people worked on that Philips site. It amazed me that there wasn't more fuss when it closed down - bit of investigation into the financial wheeling and dealing at top level NXP would have been good. Instead we now console ourselves with news of new jobs in McDonalds, Lidl, etc. Really hard to see where the wealth is going to be created in the country in the future.

southy wrote:

HerbertC wrote: In some ways it's good news that something will be done with the site. But have to agree with a previous poster - there used to be 100's of well paid high-tech jobs there (for 50 years). In my view, that's where the future of the country should lie and we should have a long term strategy to achieve it. The work done on-site was world class, state of the art silicon chip development. The only reason it ended up in tears is because Philips took the money (~$8 billion) and sold the company to a completely unsuitable new buyer who renamed it NXP - and borrowed most of the money to pay for it. NXP itself then ended up paying more than $500million a year in interest on the debt - effectively buying itself! Completely unsustainable leveraged buyout by (mainly U.S.) private equity company. Result - company decimated (not only in Southampton).

My mum use to work there on the 2pm to 6pm shift for Mullards, they use to supply transport to and from the factory from all over southern Hampshire, at a time when there was a few thousand women working there part time, I think at the time Mr Eagle was the sup there, who him self use to live not far from here.

My mum and sister use to work there as well Southy, didnt have to go far, they lived in oakridge road

Mullards wasn't that taken over by Phillips? didn't they move their production to Europe? more jobs lost to Europe.
When companies upped sticks to go no big kick up in my companies case only we workers fought to keep 1,000 well paid jobs(BAT).
people were in this paper cheering at the closure.
What was the reason Mullards pulled out/sold out?
At this moment that property is bringing in a peppercorn rent employing no one.
Why all the anti council rhetoric in these posts?
At least now jobs will be created to knock down & build the new buildings then people will be employed in them so why moan about empty buildings employing no one going?

loosehead wrote:
Mullards wasn't that taken over by Phillips? didn't they move their production to Europe? more jobs lost to Europe.
When companies upped sticks to go no big kick up in my companies case only we workers fought to keep 1,000 well paid jobs(BAT).
people were in this paper cheering at the closure.
What was the reason Mullards pulled out/sold out?
At this moment that property is bringing in a peppercorn rent employing no one.
Why all the anti council rhetoric in these posts?
At least now jobs will be created to knock down & build the new buildings then people will be employed in them so why moan about empty buildings employing no one going?

Mullards were already owned by Philips when the factory was built in the 50's as the first purpose-built factory for semiconductors in the country.
Manufacturing gradually moved to the Far East and the Southampton plant became a design/development/t
esting site. Soon after Philips split off its Semiconductor business in 2006, the new outfit (NXP) sold a major part of the Southampton specialism to an American company who milked the intellectual property and shut it down.