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O Clarky's corner
Lotta talk about Norton
Enterprise Investment Schemes – these are a government approved means of getting around paying tax on money earned, either by a capital gain or some other income, by means of investing in a company, which is looking for a cash injection in order to expand.
It usually means tying up that investment for a few years, in which time the capital gain liability is written off, the company has hopefully done well and there is a healthy profit on your investment when it is released.
Of course, like any investment, there is always the risk that things might not go so well, for, in the immortal words of Jimmy Tildesley, former director of Norton, when he answered the concerns of the shareholders present in the National Museum's conference room, on the collapse of the company's share value, with "in the stock market one must expect troughs as well as peaks."
I was not alone in being stung by Norton's former management, a couple of decades ago, and that unpleasant taste came flooding back into my mouth recently when, through the post I received an invitation to invest in the new Norton concern, in the form of an EIS.
The description of the company was impressive for sure and the packaging slick and if the information was to be believed, then this dynamic company has a product which is going to set the world of motorcycling on fire.
Now, on the face of it at least, this seems to be so, for everywhere you turn, the glossy Norton stand and its super looking Commandos are there in your face and there seems to be no shortage of punters opening their cheque books to lay down their deposits. Indeed, even by November last year, according to Bob Holt, then head of prototypes and purchasing, at the Donington Park based company, every one of the first batch of SE models was already sold, by virtue of an order deposit, and this seems to be a continuing trend. So, any self respecting Independent Financial Adviser, would see this as a recommendable opportunity and of course a good means of earning a healthy commission.
As much as I would dearly love to see these handsome machines pulling a crowd in the market square and at the bike night, I still have concerns, none of which were eased by the variety of tales heard at the recent Trade Expo, regarding reasons behind delivery delays. I hasten to add these tales were second-hand and none came to my ears from anyone connected with the company. However, the fact that Brian Crighton and Peter Williams both left the company after only a short tenure does little to appease my apprehensions either.
Perhaps I am now overly cautious, perhaps Mr Bloor's example of how to do it perfectly right is now the yardstick, perhaps I am totally and utterly wrong with my cynical misgivings and Norton will prove to be a highly successful enterprise, worthy of investment and praise and eminently profitable for all concerned. I hope so. Time will tell.
Nigel Clark
editor@classicbikeguide.com
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