Reply to THIS thread
Start a NEW Talkback Thread
Talkback Home

Farepak and Nectar - LippyChick (21st Nov 2006 - 23:14:25) Hi Given that anything up to 1 million people, many of them from lower income families have lost money that has been diligently saved through Farepak, I wondered whether the other visitors to Liphook.co.uk might be interested in the following, whatever their views on Sainsburys. Since Farepack has ended with a lot of poorer members of society left with either nothing or their Christmas greatly restricted, it would seem fairer if a Nectar Card be left at each till check out at Sainsburys. The customer is given the offer of using their own card or a nectar card to support the farepack families. The points collected on these cards could then be used to turn into cash et al and divided up amongst the families and spent in sainsburys. If you support this idea please forward an email to toyou@sainsburys.co.uk saying I agree. Please also can you send this email onto as many people to ensure that the victims of farepack are treated fairly, and to help sainsburys reach a fair decision on whether the public will support any initative they put forward. I am not politically motivated, but strongly believe that fairness to Farepack victims can only be given through the support of ordinary people. Thanks Lips x

Re: Farepak and Nectar - Les (22nd Nov 2006 - 02:00:59) On yer bike, Charity begins at home! Bet they all found enough money to spend on Fags and Booze!.

Re: Farepak and Nectar - Chris (22nd Nov 2006 - 04:49:07) Ceratinly sounds like a good idea. Interesting to read that the ex-managing director of Farepack recently spent some weeks on a luxury holiday with his wife in Argentina; 1st class flights and accomodation in a Buenos Ares hotel at around £2000 per night. Everyone's entitled to a holiday but this was ridiculous, given the circumstances!

Re: Farepak and Nectar - ellen (22nd Nov 2006 - 12:08:58) Nice idea will send an email as most of them will be suffering, its the kids I feel sorry for x

Re: Farepak and Nectar - Eneida (22nd Nov 2006 - 19:52:01) Hi Lips, Very good idea....will do re Nectar cards. BTW I've just heard on ITN, the only news programme worth watching nowadays IMO, that people who made their payments to Farepack through credit cards can get their money back....also applies to some debit cards, though not all, there seems to be some confusion on that score.... hope this is of some help!! Eneida PS Les....you're all heart!!!

Re: Farepak and Nectar - Paul Robinson (25th Nov 2006 - 13:25:17) Re: Farepack Collapse Whilst I have every sympathy for the customers, and agents of the failed hamper company at this emotive time of year I do not believe that there is a case for national fundraising or indeed a government bail out. The last job I had as an employee before I left to become self employed was in a division of the company then known as Kleen-e-zee. It was this company that borrowed £42million from its subsidiary Farepack to buy the company I worked for. Informed opinion at the time said that they paid about twice what the company was actually worth and, had they done due dilligence, they would probably have not bought the company at all or paid a more realistic price for it. Less than two and a half years later they sold the company on for less than £5 million. I would describe the management at the time as inept but for the fact that to lose this sort of money in so short a time required some talent I suppose. Having read the reports of the company's finances and listened to the spokesman for their bankers HBOS, I believe that both the bank and the board of European Home Retail are both culpable in this debacle for playing fast and loose with their customer's money. If the government has a responsibility to families who live close to the bread line and find that living on credit is their only way to exist then they should sort out all the high street banks and get them to actively support a system of basic banking similar to the credit union system that exists in Ireland and elsewhere in Europe whereby families can obtain credit at a favourable rate and save at the same time. Paul Robinson

Re: Farepak and Nectar - LippyChick (26th Nov 2006 - 21:43:05) Hi In reply to Pauls message. Farepak customers may or may not live on credit, but the premise behind saving with Farepak for hampers or for vouchers, was saving in advance rather than living on credit. For the most part, the people who were saving were doing so because they anticipated Christmas to be an expensive time of year, and did their best to prepare themselves for it. It is a crying shame that these same people are now being penalised for their foresight. Farepak itself has operated since the 1960's, and so customers, many of whom wouldn't have been familiar with the minutate of the FT, would have had no reason to consider their savings plan in the least jeopardy. The shame about this whole situation is that the company and it's bankers have been well aware of the precariousness of the finances for many months and have continued taking payments from customers until the last moment. If they had come clean in July or August then this situation might have been avoided. I happen to believe that the government does have a responsibility to protect it's citizens from this kind of situation, and as beneficiaries of Farepaks customers, retailers such as Sainsburys and others would do well to consider whether assistance can be given. Regards Lips x

Re: Farepak and Nectar - Steve Henson (28th Nov 2006 - 07:34:46) One concern I have with recent media coverage is how we get bogged down with who's to blaim. My concern is that whilst the banks, farepack executives and Govnt departments finger point. A vast number of poorer members of society and their children are left without. I therefore fully support lippys belief, if the ordinary people are given the option of giving up their reward points to support poorer members of society, then I see this as a fully practical way forward. In short whilst discussion, debate, takes place the victims are none the better off. I fully support this, and believe that in such situations a practical solution should be sought by ordinary people and great debate be taken by those who have the power to bring the correct people to account. Steve

Re: Farepak and Nectar - Allan (29th Nov 2006 - 01:06:53) Hi Lips, You are obviously clued up on all of this - bad news for anybody that paid into their scheme, that is for sure. But what was the attraction for customers to pay into it as opposed to just lobbing their hard earned into a high interest bank account instead. I assume there was an incentive, what was it? I genuinely do not know, but would like to. Please explain. Regards, Allan.

Re: Farepak and Nectar - LippyChick (30th Nov 2006 - 20:34:23) Hi Allan The incentive with Farepak (speaking as someone who used to use the scheme) was that you paid in a fixed amount on a monthly basis that you were committed to. The money was safe from incidental expenses, and couldn't be touched. If you used a simple bank account it would be easy to either skip a monthly payment or dip into the pot. In addition to this, there was also the thought that Christmas didn't have to be a worry to you. You knew that there'd be enough money there to cover expenses. I would also say that not all of these schemes cause problems. From information I heard yesterday Park Hampers are one of the largest contributors to the Farepak charity. I can't confirm this, but if it's true then it goes some way to restoring my faith in human nature. Lips x

Re: Farepak and Nectar - Darren (2nd Dec 2006 - 16:43:00) What interesting reading the different comments from local Liphook residents regarding Farepak and it's "Customers" has been. Although I applaud those who feel obliged to help others less well off than themselves, would they put there hand in their pocket to help everyone who has lost money to others? Be it in business, friends, relatives or just from being conned. Possibly not? Why are the Farepak customers that different from everyone else? If you can't afford to lose the money never give it to someone else to look after!! Might sound hard but the best advice given to me and the best advice you can give to anyone. PS: I lost a fiver last week.......... anyone able to give me it back??

Reply to THIS thread
Talkback Home