BrahimHemdani
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Everything posted by BrahimHemdani
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Does any one know what salary & bonuses Wallace is on? Suely the VERY LEAST that Stockbridge can do is take the same pay cut as the players are being asked and forego any future bonusses in his conract that are related to the players' success on the pitch.
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Sky say, the Club did not reveal the exact percentage requested and that the Club say it was "Only an exlporatory figure".
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Story coming up in Sky Sport News, probabaly nothing more than already reported.
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Interesting slant on it from the Record. Perhaps the bigger earners will take a 20% cut to save the younger lads?
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Understatement of the century perhaps.
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I agree with this good summary and also most of #54. The only question I would have is, is it correct to say that Do we know that for certain? Or isn't it more likely that this is what has happened and if not it certainly will in future.
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Now reported on SKY News. Presumably that would add up to a headline grabbing million pounds a year.
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This confirms that there is a mechanism for delaying notifications as I suggested. Note it is at 20.5p!
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If it's a wind up then of course it's irrelevant but if he had been a buyer for any of his Old Mutual Funds or advising someone else to buy then it would have been an indication of city confidence in Rangers shares at the current price.
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This is much what I have been predicting, probably been put to them that either there is an across the board cut ot some will be made redundant.
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If I was Colin Stein, I wouldn't be showing off that not exactly sylph like body.
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When you look at this kind of article and the very poor piece by Alistair Lamont yesterday, you have to wonder if the best the lazy journalists can do is read Gersnet and just rehash what we say in their own papers.
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I should add that the new club are in discussion with Sheffield Council to buy the site of a former steel works but negotiations are proving difficult. A source close to the Council tells me that the Council want £1 but FCROS are only prepared to pay 1p. What is clear,however, is that the Council will build the state of the art stadium with a levy on business rates and lottery funding and lease it to FCROS in perpetuity for a peppercorn rent, which could rise to £100/year over the first hundred years. The staium will be named the Charles Green Stadium in recognition of Mr Green's contribution to football in the UK. The Council will also provide a fleet of buses to transport FCROS fans for free to and from their home cities anywhere in the UK to Shefffield for all home matches. The Council have done a deal with a firm known only by the code name James & Sandy to provide executive luxury buses complete with massage tables, roulette, blackjack, slot machines a private betting suite and separate male and female toilets to encourage family travel. Full 5 star meals will also be provided at meal times.
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Nothing new here.
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I have a lot of mortgage experience both in this country and the US but most of it was domestic and it is a great many years since I was involved in commercial mortgages. The experience I had in that area was with pubs' date=' hotels and once even a Buck Rogers Burger Bar! Hypothetically I think it is[i'] possible[/i] but highly unlikely in practice. The reason I say that is that most lenders will insist on their own survey or at least that you use a surveyor on their "panel". The reason for that is to avoid collusion. I don't have any experience of this type of deal so I really don't know if the District Valuer's survey would be acceptable for mortgage puposes but I doubt it, simply because it was instructed by the seller. Back in the day when a certain bank was keen to lend commercial finance it was well known in Glasgow that if you used a particular surveyor you would get a "good" valuation and that it would be acceptable to the bank but I very much doubt that the DV would come in to that category. In any event a mortgage is usually based on the lower of the valuation or purchase price (on the basis that the true value is what someone/you will pay for it) so the valuation will only come into play in reality if you pay more to secure the land/property. Clearly there would be an issue if as you suggest the valuation failed to disclose a material fact upon which the lender might otherwise rely. It really doesn't matter what "evidence" you use in your negotiations, you could produce a letter from your aunty fanny and it might help you a bit but at the end of the day the purchase value is what you are prepared to pay and what the seller is prepared to accept. Usually I find in negotiations each side will set out with a best price, a target price and a bottom line price and that's as true when you are upgrading your mobile phone is it is buying some derelict land in the East End of Glasgow.
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Apparently Green and Khan are starting a new team with their loot and have offered Whyte a job as financial controller. The proposed new Club is to be named FC Rangers of Sheffield and has been granted provisional membership of the Barclays Premier League which is being extended to 21 clubs for that purpose. FCROS have negotiated a 5-year no relegation clause, a golden hello and double parachute payments in the event of relegation at any time between year 6 and year 25. The “free” club each week will play Celtic FC in a glamour friendly for the Commonwealth Trophy. All proceeds from these matches will be donated to Celtic’s favourite charity, Glasgow City Council. All Celtic matches will be played at the newly renamed Celtic Commonwealth Stadium. Celtic have been granted a free weekend every weekend by the SPFL and will play all SPFLP league games midweek but no home fans will be allowed and all Celtic season ticket holders will be divided up and counted as spectators at the other SPFLP games on a pro rata basis to average attendances.
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If it was in his contract that he got one for winning SPFL2, it's not a big jump in anyone's imagination to think that it might be in his contract if we win SPFL1, the Championship or Premiership. Perhaps that was a question that should have been asked at the AGM? Under the Companies Act his contract should be available to shareholders as he is a director; so it shouldn't be difficult to check. Maybe that's why he didn't mind giving up last year's bonus?
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Perhaps I'm missing the point but if the "abnormal costs" were included wouldn't the District Valuer’s Report have reduced the value of the land and this given the Council a lower starting point in any negotiations? Not including a deduction for the abnormal costs would leave that aspect for negotiation, which is surely a stronger position for the Council because they have given nothing away at the start.
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I will be surprised if the cuts are not quite drastic and I doubt he'll dress them up as cosmetic surgery.
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Richard Buxton is a top man with 30 years investment experience with Barings and Schroders before Old Mutual. According to the respected industry service Trustnet "Overall, performing better than the peer group composite. Over a long track record, the manager has outperformed the peer group more often than not. Stockpicking has made a contribution to results, which have tended to be relatively better in a rising market. " If he's a buyer that says a lot.
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In a nutshell, the people who are selling are those who acquired their shares for 1p and those (mainly small shareholders) who either need the money to pay off their Christmas credit card bills or are worried about losing everything in another liquidation, or both. The savvy people are now starting to buy because they believe that Wallace will deliver and on that basis the shares are undervalued.
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As I understand it, SELL just means sold to the market maker; unless I missed it (and I wasn't checking on it every minute) there was no corresponding BUY for the balance of 2.25 million. Theoretically you are right that the number of sellers has to be matched by the number of buyers but if there are a large number of sellers or a small number selling a large volume in an illiquid market, because the Market Maker's job is to provide liquidity, he has to buy those shares even though there are no buyers at that precise moment in time. If the price continues to fall he could be left with a lot of stock on his hands that he paid considerably higher prices for than he can sell for in the market. Of course the opposite may also apply - if the shares start to go up the Market Maker has to continue selling the stock to the buyers; so he could end up "short" of stock i.e. he has sold stock he has not got and he has to buy this stock in at higher prices to balance his books, so he makes a loss. I am by no means an expert in stock market trading but one of the issues is that I believe that there are only one or two market makers in Rangers shares, which adds to the liquidity problems. I am told that there is no rule that a market maker has to close his book daily but he does have to offer to buy and sell the stock in which he is making a market. So there are three possibilities based on what we know: 1. The market maker(s) is holding 2.25 million shares on his book and theoretically is sitting on a book profit of around £100,000. He might do this if he is confident that he has a buyer(s) up to a certain price but that buyer hasn’t got his act together yet or is playing for time hoping the price will come down again. 2. He has sold but the sale just hasn’t been reported yet; I’m not certain of the mechanics but I think you can delay the information becoming public for about a week subject to the 3% reporting requirements; which might mean that it is more likely that - 3. The shares have been placed with different buyers but again just haven’t been reported yet or some combination of the above. The market maker may have committed his own capital to hold shares on his books when no-one else was buying because he saw a potential profit and he viewed it as an acceptable risk. Edit: based on recent posts looks like (2) above.
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Doesn't look like Cribari, for example, cares as if he gets a game or not.
