simplythebest 0 Posted March 25, 2014 Share Posted March 25, 2014 Not irate - just puzzled. I completely respect that people may take a different viewpoint of some issues which is why forums such as this are fun places. However, now and again, there are some subjects which are completely cut and dried. In this case, the RFC board agreed an inflated working capital loan deal while just weeks previously suggesting such funds were not needed. Yet they're to be praised for changing the terms of the deal after having their bluff called by an ordinary fan? Or we're simply not to mention it? Wallace is doing a full review and is relatively new to us, is it impossible that something came up he wasn't expecting? We only learned about a loan with these better terms after the event. While you don't have to start believing all is wonderful everyone wanted this to happen, mediahouse are also gone, Stockbridge went ages ago. Would some slight positivity be too much to ask for? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 25, 2014 Share Posted March 25, 2014 Wallace is doing a full review and is relatively new to us, is it impossible that something came up he wasn't expecting? We only learned about a loan with these better terms after the event. While you don't have to start believing all is wonderful everyone wanted this to happen, mediahouse are also gone, Stockbridge went ages ago. Would some slight positivity be too much to ask for? im withholding any positivity until the review period is up. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 25, 2014 Share Posted March 25, 2014 The answer to that might be hidden in the fact that the fee in Mr. Letham's original offer has reduced from £75k to £45k. Quite possibly. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 25, 2014 Share Posted March 25, 2014 I'm also left puzzled why we do not have a decent bank giving us some floating charge et al to guide us through difficult periods without producing any great debt. This might sound a bit facetious dB, but is there actually such a thing as a 'decent' bank? Obviously some form of credit facilities will be required (already have been in fact), but with a volatile banking industry calling in company loans left right and center, maybe it's time to give the unethical and immoral usury experts a body swerve? After everything that's happened, I'd hate to see the Club going back to the days of having to pay out well over a million pounds every year in interest and repayments for ongoing credit and loan facilities. The club needs a buffer or safety net of some sort, but it would maybe be prudent to avoid another never ending spiral of being forced into throwing vast sums of money at old debt. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted March 25, 2014 Share Posted March 25, 2014 Wallace is doing a full review and is relatively new to us, is it impossible that something came up he wasn't expecting? We only learned about a loan with these better terms after the event. While you don't have to start believing all is wonderful everyone wanted this to happen, mediahouse are also gone, Stockbridge went ages ago. Would some slight positivity be too much to ask for? The most positive I can say is that Wallace in my opinion has been shown to be completely incompetent and not able to understand basic finance and stuff like what's a good APR for a loan. If I was negative, I would be thinking something more nefarious happened where he tried to pull the wool over our eyes and insulted our intelligence. He had his chance and blew it at the first opportunity. A man who thinks that that loan was normal market rates or tries to sell that line to his shareholders is clearly not suitable to be the director of any public company in my opinion. I'm now not sure whether to mistrust his words or his judgement but either way it was a straight red card for me. At best it's a second yellow where you could even say the first yellow card was saying we didn't need a loan when we obviously did. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted March 25, 2014 Share Posted March 25, 2014 The most positive I can say is that Wallace in my opinion has been shown to be completely incompetent and not able to understand basic finance and stuff like what's a good APR for a loan. If I was negative, I would be thinking something more nefarious happened where he tried to pull the wool over our eyes and insulted our intelligence. He had his chance and blew it at the first opportunity. A man who thinks that that loan was normal market rates or tries to sell that line to his shareholders is clearly not suitable to be the director of any public company in my opinion. I'm now not sure whether to mistrust his words or his judgement but either way it was a straight red card for me. At best it's a second yellow where you could even say the first yellow card was saying we didn't need a loan when we obviously did. Well count me out of rushing to judgement and wanting to chase people out so quickly 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 25, 2014 Share Posted March 25, 2014 This might sound a bit facetious dB, but is there actually such a thing as a 'decent' bank? Obviously some form of credit facilities will be required (already have been in fact), but with a volatile banking industry calling in company loans left right and center, maybe it's time to give the unethical and immoral usury experts a body swerve? After everything that's happened, I'd hate to see the Club going back to the days of having to pay out a million pounds every year in interest alone for a loan facility. There can't be very many businesses who don't need loans for working capital or expansion at some time in their existence and that is particularly true for new business ventures and that's essentially what RIFC is, a new business venture. NB: NOT A NEW CLUB. The trick is to get that finance on the best possible terms whether that be debt or equity and then use the money wisely, not fritter it away on unjustified and exhorbitant fees, ridiculously high wages that bear no relation to performance etc. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 25, 2014 Share Posted March 25, 2014 Well count me out of rushing to judgement and wanting to chase people out so quickly we should have a rangers supporting chairman. thats just sensible imho. easdale i just hate. to counter that laxley deserve a man on the board in whatever his name is and wallace i have no issue with. in fact i feel somewhat sorry for him. he wouldn't have wanted this loan i am sure. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 25, 2014 Share Posted March 25, 2014 There can't be very many businesses who don't need loans for working capital or expansion at some time in their existence and that is particularly true for new business ventures and that's essentially what RIFC is, a new business venture. NB: NOT A NEW CLUB. The trick is to get that finance on the best possible terms whether that be debt or equity and then use the money wisely, not fritter it away on unjustified and exhorbitant fees, ridiculously high wages that bear no relation to performance etc. i really find it hard to believe we cant get an overdraft with a big bank. we have assets galore and should be easy to run in a sensible fashion. its worrying that we can't frankly. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted March 25, 2014 Share Posted March 25, 2014 i really find it hard to believe we cant get an overdraft with a big bank. we have assets galore and should be easy to run in a sensible fashion. its worrying that we can't frankly. Or does it suit certain parties that we cant , therefore forcing the club to go to existing shareholders for money , oh wait 0 Quote Link to post Share on other sites More sharing options...
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