the gunslinger 3,366 Posted September 23, 2013 Share Posted September 23, 2013 We really need to concentrate on what these guys have to say rather than get side tracked with other issues - alarming as they may be. SOS do you actually have any evidence that the doomsday scenario you allude to with the sale of the stadium is going to come to fruition ? I'm concerned you felt the need to highlight that some in charge are not "Rangers men". Might I remind you that we had Rangers men at the helm who allowed SDM to spend lavishly on his ego trip at our club's expense. Do you actually have any evidence of impropriety regarding the current board or are your allegations based around possible hypothetical actions by a board who are not necessarily Rangers minded ( although I would again point out - a number of them have bought shares at a considerable cost to get onto that board) one of 4 things is going to happen. we will go into debt - highly unlikely to get credit. we will go bust again we will reduce costs velow income - no laughing now. we will need to raise cash. what are the options for raising cash. a share issue or asset sales. does anyone think the current board can pull of another share issue. 0 Quote Link to post Share on other sites More sharing options...
D'Artagnan 173 Posted September 23, 2013 Share Posted September 23, 2013 one of 4 things is going to happen. we will go into debt - highly unlikely to get credit. we will go bust again we will reduce costs velow income - no laughing now. we will need to raise cash. what are the options for raising cash. a share issue or asset sales. does anyone think the current board can pull of another share issue. I believe GS there has been an acknowledgement from the board that new revenue streams need to be realised and developed. I also note that Kieron Brady, the so called whizz kid from London who has acquired a considerable no. of shares recently, expressed confidence in Maher's financial vision/plan for the club. Like every other Bear Im just trying to get a correct handle on the situation. The recent power struggle at Ibrox and the comments and allegations made, and the subsequent conduct of the McColl camp did little to suggest to me there is reason for confidence in them. If anything all they appear to have done is caused considerable unrest and when the push came to the shove they appeared unwilling to back of their words with action. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 23, 2013 Share Posted September 23, 2013 We know the current board have spent 45 million in 12 months. 23 between dec and july. We know they had 10 in july. This is only headed on way and I don't need anyone to show me where. 0 Quote Link to post Share on other sites More sharing options...
compo 6,096 Posted September 23, 2013 Share Posted September 23, 2013 there will soon be that may waring factions in our ranks we may have to bring in un peacekeepers:rfc: 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 23, 2013 Share Posted September 23, 2013 (edited) I believe GS there has been an acknowledgement from the board that new revenue streams need to be realised and developed. I also note that Kieron Brady' date=' the so called whizz kid from London who has acquired a considerable no. of shares recently, expressed confidence in Maher's financial vision/plan for the club. Like every other Bear Im just trying to get a correct handle on the situation. The recent power struggle at Ibrox and the comments and allegations made, and the subsequent conduct of the McColl camp did little to suggest to me there is reason for confidence in them. If anything all they appear to have done is caused considerable unrest and when the push came to the shove they appeared unwilling to back of their words with action.[/quote'] There's been a fair amount of contradiction & smoke and mirrors from the board on the club's financial situation D'Art. For months and months in the first half of the year they appeared to be denying that the IPO cash was being frittered away, but didn't show any transparency on the subject, presumably using stock market regulations as reasoning. There were leaks which appeared to be coming from the boardroom (as far back as March/April?) which suggested that even at that point, the IPO cash had been getting hammered and was already severely depleted. Dave King then came out earlier in the summer and predicted that another administration event was on the cards, but the board moved quickly to try to rubbish his opinion despite his previous predictions on such matters having come true! If I remember correctly, they also tried to rubbish claims that the club would need fresh investment for working capital before the end of this season, only to later contradict themselves on that issue after being forced to tell everyone at the large meeting with fans on Thursday 8th August that there was only £10m in the bank. Stockbridge apparently claimed at the same meeting that he didn't know how much IPO cash was left. Within days of that August 8th meeting it was then being widely reported that the £22 million IPO cash was completely gone, spent. Brian Stockbridge & Craig Mather (or was it their gaffers?) then appeared to go straight into damage limitation mode and within a couple of weeks it was announced officially that the board had hired Jack Irvine. That was another cause for alarm bells to start ringing given the cause for wanting to avoid an EGM was supposed to be cost. Remember too, that only a few days earlier than the fan meeting Walter Smith had resigned from his position as Chairman and a Director of the company on August 5th. His parting message was that the boardroom was "dysfunctional" and he said of the proposals in the Requisition "it is clear that Boardroom change is required and I would urge Rangers fans to get fully behind the resolutions which last week were presented to the Board and shareholders". In the same parting message, Walter also went on to say with regards to the fans and the board, "Indeed, they are a reminder to those in the Boardroom that Directors have the massive and ultimate responsibility of serving, protecting and nourishing this Club for the benefit of the fans and not an individual or any associates". Edited September 23, 2013 by Zappa 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted September 23, 2013 Share Posted September 23, 2013 I believe GS there has been an acknowledgement from the board that new revenue streams need to be realised and developed. The board should have thought of that before allowing the £20m+ to flow out the door in under 9 months. It's easy to say that new revenue streams need o be generated but harder to come up with them for a clu that is in the third tier of Scottish football. if there were some mysterious new streams' date=' would they not already be in place? Selling assets seems to be the most straightforward way of generating cash so the SoS claims don't seem unreasonable. It's far more likely than the Board coming up with new multi-llin revenue streams. I also note that Kieron Brady, the so called whizz kid from London who has acquired a considerable no. of shares recently, expressed confidence in Maher's financial vision/plan for the club. I wonder what CM said. Could it be "say that you are happy or the share price will fall and you will lose a lot of cash"? I don't take any confidence in a shareholder expressing confidence. Most did that back in December and look what happened to their cash. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted September 23, 2013 Share Posted September 23, 2013 I won't be going to any demonstration 0 Quote Link to post Share on other sites More sharing options...
Guest lisburnranger Posted September 23, 2013 Share Posted September 23, 2013 I believe GS there has been an acknowledgement from the board that new revenue streams need to be realised and developed. I also note that Kieron Brady' date=' the so called whizz kid from London who has acquired a considerable no. of shares recently, expressed confidence in Maher's financial vision/plan for the club. Like every other Bear Im just trying to get a correct handle on the situation. The recent power struggle at Ibrox and the comments and allegations made, and the subsequent conduct of the McColl camp did little to suggest to me there is reason for confidence in them. If anything all they appear to have done is caused considerable unrest and when the push came to the shove they appeared unwilling to back of their words with action.[/quote'] Were Laxey Partners not one of the original signatories to the EGM requisition? Bit of a turnabout if true. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 23, 2013 Share Posted September 23, 2013 I won't be going to any demonstration And you will have to live with the consequences of your actions or inaction. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted September 23, 2013 Share Posted September 23, 2013 And you will have to live with the consequences of your actions or inaction. I've no idea what i'd be demonstrating for. 0 Quote Link to post Share on other sites More sharing options...
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