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Author Topic: Joachim in massive debt  (Read 34007 times)
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Clara
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« Reply #60 on: September 02, 2013, 12:23:09 AM »

Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!
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what happened with the illegal substances his farm  bought?

Nothing, royals are above the law in Denmark.


Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!

Do you know if it's because Charles is a smart business man himself or because he's delegated running the business to smart people?

And yes, Joachim is quite lucky Crap

I don't think it's comparable. Charles "inherited" a centuries old organization, there's always been someone running it and making a profit. I don't know how involved he is in the daily management but there's always been an structure behind it, if he were to disengage himself from it nothing would happen.
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Maria
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« Reply #61 on: September 02, 2013, 01:01:56 AM »

Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!

Do you know if it's because Charles is a smart business man himself or because he's delegated running the business to smart people?

And yes, Joachim is quite lucky Crap

I don't think it's comparable. Charles "inherited" a centuries old organization, there's always been someone running it and making a profit. I don't know how involved he is in the daily management but there's always been an structure behind it, if he were to disengage himself from it nothing would happen.


Thanks Smiley
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CW

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« Reply #62 on: September 02, 2013, 01:22:13 AM »

I have relatives in agriculture.  Over the years they have had agricultural loans for various purposes - land or machinery purchases, buying inputs in the spring in order to plant crops (e.g. seed, fertilizer, pesticides) ...  They don't typically save up lots of cash to use as cash flow.  The interest on borrowed money is a business expense here (Canada).  So yes, farmers borrow money to finance farm operations.  

I could see Joachim's farm (and the other four farms that do business as a group) borrowing money to finance farm operations if the interest is a business expense in Denmark.  

I think that Charles and Joachim are on vastly different financial footings.  

The Duchy of Cornwall is immensely, obscenely wealthy.  It supposedly has numerous business interests including farmland and some choice commercial properties in the UK.  Joachim's farm holdings are recent, and haven't been built up over hundreds of years of tax free status.

The Duchy of Cornwall's horticultural nursery was alleged to have lobbied for statutory pay cuts for farm workers!!! When the letter came to light, the Duchy said that it was the horticultural nursery's view only, and not that of the Duchy as a whole or Charles himself.  Does Joachim do that sort of lobbying to reduce farm worker pay and reduce his farm's business expenses?  
« Last Edit: September 02, 2013, 01:46:09 AM by CW » Logged
leatherface

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« Reply #63 on: September 02, 2013, 01:42:51 AM »

Does Joachim do that sort of lobbying to reduce farm worker pay and reduce his farm's business expenses? 

I don't think he can even if he wanted to unless the Danish Farmers Association (or whatever such a group is called) does it collectively.
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CW

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« Reply #64 on: September 02, 2013, 01:43:54 AM »

leatherface - thx for the information!
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cowgrrl

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« Reply #65 on: September 02, 2013, 02:48:57 AM »

I think it's next to impossible to speculate if someone would have married another someone without a certain aspect of their life or personality. I have a friend who recently married & one of the things that really attracted her to him is that he is a fabulous cook & she enjoys cooking as well. Would they have married if he was a horrible cook or indifferent to her love of cooking?  Who knows?
Was the fact that J is a Prince a factor in both of his relationships that ended in marriage?  Probably. But IMO, Mary possibly notwithstanding, few people can keep up a charade of love. You can keep one of infatuation or lust for a time but truly deep love can't be faked for any length of time because it requires sacrifice & putting someone else first. So, I think both marriages were marriages of love & I think even Alex truly believed 'Till death us do part'. Unfortunately living the day to day was too much.
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BessieWallis Warfield

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« Reply #66 on: September 02, 2013, 05:20:27 AM »

I have relatives in agriculture.  Over the years they have had agricultural loans for various purposes - land or machinery purchases, buying inputs in the spring in order to plant crops (e.g. seed, fertilizer, pesticides) ...  They don't typically save up lots of cash to use as cash flow.  The interest on borrowed money is a business expense here (Canada).  So yes, farmers borrow money to finance farm operations.  

I could see Joachim's farm (and the other four farms that do business as a group) borrowing money to finance farm operations if the interest is a business expense in Denmark.  

I think that Charles and Joachim are on vastly different financial footings.  

The Duchy of Cornwall is immensely, obscenely wealthy.  It supposedly has numerous business interests including farmland and some choice commercial properties in the UK.  Joachim's farm holdings are recent, and haven't been built up over hundreds of years of tax free status.

The Duchy of Cornwall's horticultural nursery was alleged to have lobbied for statutory pay cuts for farm workers!!! When the letter came to light, the Duchy said that it was the horticultural nursery's view only, and not that of the Duchy as a whole or Charles himself.  Does Joachim do that sort of lobbying to reduce farm worker pay and reduce his farm's business expenses?  

Debt in and of itself can be normal - most of us have it; house, etc.  But is this amount of debt normal for a farmer of his type and size?
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« Reply #67 on: September 02, 2013, 06:14:42 AM »

Bessie - I would not guess about the reasonableness or unreasonableness of the debt level. I wouldn't know what is normal for Denmark or the EU.  As well, there's not much information out there, at least not in English.  No financial statements for his farm or the four other farms - no idea what they sold their produce for, what the produce cost to grow, how much they pay in interest to the bank, what taxes.   Earlier someone posted that Schackenborg was valued at 100 million kroner in 2012.  The loans are supposedly secured as mortgages which where I live means registered against land titles (not sure how it works in Denmark).  The bank's loans appear to be secured against something of much greater value right now.  
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« Reply #68 on: September 02, 2013, 07:26:51 AM »

The Duchy of Cornwall's horticultural nursery was alleged to have lobbied for statutory pay cuts for farm workers!!! When the letter came to light, the Duchy said that it was the horticultural nursery's view only, and not that of the Duchy as a whole or Charles himself.


Really? Bleurgh!

Also, a big recent business venture from the Duchy was 'Duchy Originals', a range of expensive foods. It performed badly and was bought out by Prince Charles's favourite tenant/partners/supporter Waitrose Supermarkets.

I wonder if Joachim's estate benefits from similarly obscure tax rules as the Duchy?
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« Reply #69 on: September 02, 2013, 12:11:06 PM »

It's interesting that EB can get details of Jokke's loans(is such info accessible to the public?) but fail to find out the number of shoes Mary owns Snare

VERY good point, Jazzy.  Star
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« Reply #70 on: September 02, 2013, 03:07:33 PM »

What I meant with that sentence was that it just seemed to me that someone like Alex would never have married Joachim if he had been the proverbial plummer in the building of the bank in Hong Kong where she worked at the time.  She seems to me someone who cared about status and wealth quite a bit. Not saying she didn't like Joachim, she probably did in her way, I'm just saying that the whole package there was/seemed important to her.

If wealth and status were so important to Alex she would never have married Martin. After their split Alex was probably one of the most eligible single women in the country and would have been able to marry anyone. However, whether you like Martin or not, there's no denying that he's just an ordinary Danish man. Moreover she lost half her income by marrying him as she lost her tax-free status.

« Last Edit: September 02, 2013, 04:19:41 PM by Little_star » Logged

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« Reply #71 on: September 02, 2013, 04:00:45 PM »

Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!

Do you know if it's because Charles is a smart business man himself or because he's delegated running the business to smart people?

And yes, Joachim is quite lucky Crap

I don't think it's comparable. Charles "inherited" a centuries old organization, there's always been someone running it and making a profit. I don't know how involved he is in the daily management but there's always been an structure behind it, if he were to disengage himself from it nothing would happen.


Thanks Smiley

The Duchy has quite a complex management structure and has a Chief Executive.
http://www.duchyofcornwal...andfinances_structure.htm

I sincerely doubt that Charles is involved with its day to day running. He probably rubberstamps and signs important docs.
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Clara
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« Reply #72 on: September 02, 2013, 07:38:54 PM »

Thanks LS  Star
There're also times without a Duke of Cornwall (when Elizabeth was 1st in line, for example) and again, nothing happens. I don't believe royals have been that involved in the management of the Duchy.

The Duchy of Cornwall's horticultural nursery was alleged to have lobbied for statutory pay cuts for farm workers!!! When the letter came to light, the Duchy said that it was the horticultural nursery's view only, and not that of the Duchy as a whole or Charles himself.


Really? Bleurgh!

Also, a big recent business venture from the Duchy was 'Duchy Originals', a range of expensive foods. It performed badly and was bought out by Prince Charles's favourite tenant/partners/supporter Waitrose Supermarkets.

I wonder if Joachim's estate benefits from similarly obscure tax rules as the Duchy?


I wonder what's the tax situation for his estate when even VAT is refunded to him.
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« Reply #73 on: September 04, 2013, 02:32:13 PM »

I think his mother will have to give him the 42 mill.DK. He and Marie are her favourites, so that should be no problem.
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leatherface

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« Reply #74 on: September 04, 2013, 05:35:11 PM »

I think his mother will have to give him the 42 mill.DK. He and Marie are her favourites, so that should be no problem.

Why should/would she, he's a big boy, has a wife, an ex-wife and 4 children. Besides that's alot to give your adult child with his own business lump sum, I don't care how much u love them or how rich u are. Would anyone of us go begging to our parents like that, most likely no; if my mother was willing to give me that much cash and I had 4 children I'd rather she put the money in trust for their education rather than use it to help prop a business that could possibly fail at a later date as farming is a risky proposition.
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