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Launch of Glen Rosa at Ferguson Marine<br/><br/>Glen Rosa launch: What future for Ferguson Marine as hugely-delayed ferry leaves slipway?<br/><br/>It had taken shape at Ferguson Marine over more than eight years, but then, in a matter of seconds on Tuesday, was gone – leaving behind questions about the shipyard’s future (and recent turbulent past) as big as the huge slipway it had just vacated.<br/><br/>Glen Rosa’s belated launch could turn out to be the turning point for the embattled Port Glasgow yard. But we don’t know yet whether it’s towards the brighter future wellbeing economy Mairi McAllan talked up as the ship was sent on its way, or whether the yard’s hopes have effectively sailed away with the vessel.<br/><br/>Ms McAllan, surrounded by female apprentices as she spoke, pointed to them being the future of Scottish shipbuilding, which she said meant it was “in safe hands”.<br/><br/>The Cabinet secretary said later that her officials had just taken receipt of a bid for new investment from the yard to make it more competitive – which could be vital if Ferguson Marine is to secure a crucial contract to build seven smaller CalMac ferries similar to those it successfully completed in the not-so-distant past.<br/><br/>I also understand it will have to bid for the work rather than receive a direct award, to comply with international competition rules. However, Ms McAllan made no reference to Glen Rosa – and sister vessel Glen Sannox before it – being hugely behind schedule and multiple times over budget.<br/><br/>There was also nothing about the shock sacking of Ferguson Marine chief executive David Tydeman two weeks ago over “performance” issues, which senior industry officials told me was “unbelievable”. One said: “That guy is the best you have seen by a country mile.”<br/><br/>Glen Sannox left the yard for the last time last week for further sea trials, with the remaining work, including pipework for its liquefied natural gas fuel system, being completed at a dock in Greenock prior to its scheduled completion in May or June, with an update on this due next week.<br/><br/>If there are no further delays, the ferry is expected to start carrying passengers on the main Arran route to Brodick around August following CalMac’s own trials.<br/><br/>Glen Rosa is due to be finished in September next year. But as the crowd of hundreds – families of workers, locals and curious others – watched it slide away into the Clyde, more than just a landmark for drivers on the adjacent A8 has disappeared. The gap now spells “what next?”<br/><br/>Ferguson Marine’s interim chief executive John Petticrew, albeit a born and bred Inverclyde shipbuilder, and yard board member, is very much a caretaker manager, who has effectively been parachuted in for six months from Canada, where he now lives, to “put my best efforts into getting the vessels out of here as quickly as possible”.<br/><br/>Will he do things differently from his predecessor? “It’s a matter
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LindaBlair Fan
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Staying small is working out big time for Shore Capital. Their average internal rate of return on its 14 exits, all in health care, is 53%, net of fees. That’s nearly triple the average net IRR of U.S. buyout funds raised since 2009, according to data from Cambridge Associates. After Shore took its 20% to 30% cut of profits, its exits multiplied investors’ money by 5.5 times on average, also nearly triple the average total value to paid-in capital multiple of U.S. buyout funds raised during that period. Shore has never unloaded a company for less than three times cost before fees, nor, it says, has it ever suffered a loss. “Those are top 1% returns in private equity,” marvels one investor who asked not to be identified, citing his organization’s press policy. “That’s rarefied air, right? That’s more like venture capital than a traditional buyout firm.”<br/><br/>Ishbia and his team have acquired more than 1,000 mom-and-pop shops across the country (average cost: $15 million) since Shore’s 2009 founding and rolled them up into 61 larger chains of things inclu­ding autism treatment clinics, bakeries and exterminators. “We’re buying businesses in Akron, Ohio, and Pittsburgh, and Birmingham, Alabama,” Ishbia says. “There’s more low-hanging fruit for me. It’s Joe Schmo on Main Street.”<br/><br/>Shore then invests in computer systems and equipment, stacks the businesses’ boards with industry veterans and hunts for complementary companies in adjacent markets. “We’re just buying and buying and buying,” says Ishbia, who insists Shore doesn’t take on as much debt as other private equity firms and doesn’t cut servi­ces or head count. “The private equity world gets a bad rap for ‘buy this, slash that.’ We are growth—we have almost 35,000 employees and hire thousands per year.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/mattdurot/2024/04/08/this-main-street-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime-justin-ishbia/?sh=3140aa9e39ee<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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No matter how a terrible place the world is, there is always someone who proves that the good always wins. Maybe that’s the first and only chance given by a fate that has never been fair to you. The name of that chance that will change the fate of eighteen-year-old high school student Eylul (Oyku Karayel) is Ali Asaf Denizoglu (Gokhan Alkan). The story begins in a high school of a town in the Aegean region. After the two part ways, they cross paths again on the roof of Istanbul’s best hospital! The young brain surgeon Eylul tells her story while she gives a good beating to a group of bullies who raids the hospital’s emergency room. She was a rebellious girl who had changed schools many times and whom teachers didn’t want to deal with. Even when her father picked her up from the last school she got expelled from and beat her very bad, she did not shed a single teardrop. However, that day her whole life changes; the prayer of her grandmother, who ran a small hostel in Marmaris and opened her house to Eylul brings a miracle. \
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