spanner
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Posts
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Everything posted by spanner
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Scrap the lot and start again with one body to represent the interests of the people who keep the club afloat, the fans.
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I do believe you are prevaricating, it is clear what is and has happened, my view of suits is also clear including the ones in accountant apparel, who signed of the previous accounts. Thunderer article. "The looming problem, however, was that this performance had been built on a massive pile of debt. By the beginning of 2008, MIH’s net debt was a staggering Ã?£759.3 million, massively up from Ã?£468.3 million two years previously." So nothing mysterious about the debt, apparently that is your remit. The point of the discussion is that you deny the obvious, and I a dug walker steer you back on track. If MIH house of cards falls, fire sale time at your local friendly liquidator, after of course he has robbed his non justifiable fees first. You know I have been thinking, you should really ask for your money back from the correspondence course. ETA The suits the robbin fuks should be getting jail time 5 years at least, not getting fat bonuses at the taxpayers expense.
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OK that clears everything up, it is unlikely accountants signed of the accounts, those dastardly banking chaps are the pits, and SDM will still be sitting with his personal fortune intact, even I can see he spent loads of the banks moolaha and I walk dugs, and very little of his own companys, debt driven I believe it is called on a ratio of about 86% -14%, yes I do believe the bank would rather SDM doesn't go tits up, lots of heads could roll notwithstanding the nearly �£1 billion alleged total exposure, still what's a billion between friends. http://www.gersnetonline.co.uk/vb/showpost.php?p=178122&postcount=40 ETA Do you still insist that the MIH debt, which is slightly bigger than your average Provi cheque, when and if the shit hits the fan, will have no consequences for Rangers.
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1) Re-read the post very carefully, you will notice the word apparently. 2) These spanners SDM will be laughing at will be of course, bankers and accountants, who fell over themselves to give him large and sign of his accounts, seems THE bank could have a serious problem, apparently (that word again) they need SDM more than he needs them, such is life or is it c'est la vie.
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Is that the mentally impaired looking for supporters site:confused:
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I must say I always liked the Tremeloes, yon Carol Hawkes was a gie bufty bit o stuff, I certainly widny have been climbin over her tae get tae bluedell. :devil:
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I know what I mean even if you don't, depends who is cooking the books.
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To many cooks spoil the broth and the books.
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The banks are getting billions or have had billions from the public purse to cover their severe horsings, maybe you were having lunch when the property crash was flagged up, finance experts, you just can't get the staff, at least Volvo crash their cars to prove they're safe, what is financial experts excuse, maybe, no not maybe they are definitely not experts, unless of course in fuck-ups. PS. Whatever happened to capitalism, you know where good business survives and prosper and bad ones get the bullet, or is just the same as always the rich hump up the debts then hump Joe Public, 1984 indeed.
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Seems that the banks are getting horsed (pun intended) in the property market, maybe they don't share your view as to safe investments.
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A serious spanking, with the banks money ?
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You misjudge me, I wouldn't trust SDM as far as I could throw him, but that doesn't mean I can't admire his style or respect his achievments, anyone who can play the bank at their own game has a certain gravitas, and I for one believe he is playing the long game with the bank, he doesn't often lose does he.
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Murray sells under his own auspices, allegedly. http://www.heraldscotland.com/business/corporate-sme/murray-s-property-group-puts-its-prime-development-up-for-sale-1.929640
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The words of Boss, "So we only had �£9m of unused credit at 30 June." So again where did this �£9m of unused credit originate from, if the bank had blanked us for 9 months as is claimed here.
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I have definitely heard it all now, maybe you should visit the Pig & Whistle in McNeil street and air your suspicions. :box:
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1) I didn't say that anyone knew the Rangers accounts, that appears to be your remit. 2) The fact that you state that MIH's fate will have no bearing on the operation of Rangers is quite disturbing, even more disturbing is the fact that you actually believe that. 3) As for courses what can I say, I will stick with the Greyhounds, how about you. SDM must be PHSL at this bag of spanners.
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You will have to confer with boss on that, "Here’s the (vaguely) interesting bit. We owe Ã?£26m of our net debt to the bank and we have Ã?£35m facilities in place (Ã?£20m loan and Ã?£15m revolving credit facility, an overdraft in easy-speak). So we only had Ã?£9m of unused credit at 30 June." Apparently we had Ã?£9 million left of something we didn't have in place, so did we have a facility or did we not have a facility, or where did the unused Ã?£9 million of credit come from. You guys are really starting to confuse me, probably yourselves as well I would think, but Boss is definitely on the ball, his articles are very good even I can understand them. Taking the dogs for a bit of a run before their races coming up, enjoy guys. ETA. Gorbals Cumbie trap 3 Sunderland 10.00pm friday 20/11/2009, worth a bet but don't go daft.
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Like the chairman said, we have a clean bill of health and are a going concern.
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Thanks Craig, now that we have gone all around the houses to conclude that MIH has debt because it has been spending the banks money, a ratio of about 86% bank 16% MIH, I would refer you to http://www.gersnetonline.co.uk/vb/showthread.php?p=177864#post177864 particularily my last sentence, off now to walk the Greyhounds. ETA. good read for we uninitiated, but probably wont tell you anything you don't know. http://www.heraldscotland.com/sport/more-scottish-football/scottish-football-in-crisis-money-too-tight-to-mention-1.932840
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Oh I know how the debt has accrued Craig, could you just run past me again what the holding company is liable for, something in the region of �£470 million due is it, what do you think will happen if they default, do you think the holding company defaulting would be good news for the companies that the holding company owns, or do you think there would be a firesale of the assets the holding company somehow doesn't own, including RFC. What do you know of this company Craig and what they have been or are holding. Company Details - RFC INVESTMENT HOLDINGS LIMITED Registered No.SC132472 Address: 9 CHARLOTTE SQUARE, EDINBURGH, EH2 4DR Type: Private Limited with share capital Incorporation Date: 17-06-1991 Status: Small unquoted company filing only an abbreviated balance sheet Last Accounts Filed up to: 30-06-2008 Last Accounts Analysed: 30-06-2008 Nature of business SIC: 74150 - Management activities of holding companies
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Thanks craig, but I was aware of the figures I was looking at, someone has to drive the bus wouldn't you say it was the Holding company who drives the bus and owns everything in the bus, even down to the fuel in the tank. MIH would appear to have a lot of debt for not owning anything, perhaps controling may fit also, can't help feeling SDM is not out of the loop by a long chalk.
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As I understand it Bluedell tangible assets are of a physical nature, you would need a lot of pens and pencils, vehicles and plant to have �£630 million worth and not a building to put a desk in.
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Thank you Bluedell. it is the �£623 million of tangible assets on page 12 that is the problem.
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MIH own Rangers, is there some convoluted mechanism by which Rangers own Ibrox and Murray Park outwith the remit of their ultimate holding company Murray International, which makes the properties assets of Rangers and not Murray International. It would be helpful if you could guide me through the last part of page 21, all those naughts get me confused, as does who owns what. http://www.murray-international.co.uk/documents/MURRAYREPORTS2007.pdf
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Do Rangers own outright Ibrox and Murray Park. if so why do they appear on the balance sheet of Murray International as an asset. is this simply because Murray International is the ultimate holding company and owner of Rangers FC. The Ibrox Stadium and football training facilities, included within freehold land and buildings, acquired with the purchase of The Rangers Football Club plc are valued on a depreciated replacement cost basis. The directors determined the valuation of these properties on a depreciated replacement cost basis at 30 June 2006 based on a valuation received from Messrs. DM Hall, Chartered Surveyors.