logo-loader

SP ANGEL. MORNING VIEW. Wressle Rejection Expected

Published: 10:32 02 Aug 2018 BST

no_picture_pai

Union Jack Oil (LON:UJO) – $62.7mm (0.76p) – Wressle Rejection Expected: Yesterday’s rejection of the application to extend the existing planning permission at Wressle by the North Lincolnshire Council is hardly surprising, and we had already factored in the Company’s need to go to at least Appeal to get anything done. What amazes wasn’t the decision, but the conduct of the council members (with the exception – see further). The councillors were so brazen in their lack of perspective that for the first time, we were able to to see clearly that they don’t work for the people that elected them, but are in fact stooges for an unelected and unaccountable group, and judging from some of the comments there is little doubt that the council has been infiltrated by Militant, or some other school-yard political organisation. Nowhere is this more obvious than the comments on Wressle’s participants making profits. We can only assume that the reason why that it doesn’t offend the council’s sensibilities when Scunthorpe steelworks’ owners made profits from the steelworks is that that suits the stooges’ masters. This has been brought in to sharp focus by the conduct of Mick Grant, specifically, and the councils own planning officers, whose approach is what we would have come to expect from public professionals, that the their analysis of the data and fact-based decision making, has made a mockery of the bare naked exhibition of toadyism towards the unelected left-wing Union paymasters. Yesterday’s decision is a disgrace to the planning process and makes a mockery of local democracy. We think that the council has forgotten that it is part of a wider United Kingdom, which we assume it is happy to be part of when it needs central government funding, especially to support its paymaster’s preferred industrial project, and something that it clearly shows prejudice for. We believe that the decision is such a betrayal of council’s elected duty, and so obviously a response to single vested interests, that we believe that the local populace should call for an election to replace their council, and secure one that will act in voters’ interests, and not just those of those with political aspirations. Still, this episode only reflects badly on the council members only (except Mick Grant and the planning officers), and we will await the planning appeal and elevation of the whole process to the Secretary of State. Given this predictable response, our valuation remains – $62.7mm (0.76p).

FTSE rises ahead of Easter weekend, JD Sport gains on upbeat outlook -...

The FTSE 100 gained on the final morning of this shortened Easter trading week. Festive cheer was limited though, as Thames Water confirmed shareholders would not provide it with a £500 million rescue package, prompting speculation over the London supplier’s future. On a more positive...

8 minutes ago