Amateur economists await their shame

hail hail

Re-post from last thread:

Huns: £14M pre tax loss, turnover down to £40M, Net debt up to £31.1M and total liabilities of £82M

Yes? No?

1 down 3 to go

+£30m in debt confirmed

now for a KB from EPL and a ban from UEFA and we have a Carlsberg Thursday

Paul, do I technically get a 1st place for this?

Thatchers death and Rangers go bust in one day. That'd be Celticporn.

Paul67

"Is there something else happening today that is likely to take the spotlight away? Is there an official solemnity I don't know about?"

Is this one of your hmmmmmm statements?

just chasing up the stragglers from previous thread

So AJ announces that the laughathon begins on 7th December...

Paul67,

what else in your opinion is hapening today that will make this a good day to bury a bad news story like this?

Re "Queen breaks mi utes silence" article - did you get inspiration from watching Police Squad?

weeminger - "erm taking 12 years in the context of average temperature rises of 1-2 degrees/century being quite damaging isn't really that sensible."

It's no less sensible than assuming that the warming trend of the previous century or so would continue forever, when all the geological evidence tells us that warming and cooling periods are normal, because the earth's climate has been changing since the earth formed a climate billions of years ago. (thumbsup)

Also, I don't agree that warming trends are damaging. History tells us otherwise.

I am genuinely surprised at these accounts - Rangers are in more trouble than I thought!

That a pre-gloat warm up blog?

Paul67

Please don't even mention Thatcher's demise in such jestful terms. You'll give philvis a fit. He already has an ongoing debate about climate change to deal with, let alone fighting the corner of The Lady previously known as Iron. Have a heart!

SSN Breaking News

EPL reject Celtic and Rangers from joining EPL

Philvis
(thumbs up)
oh boy I'd love to see a right good rammy on climate change, shame there's some other news come out the day
What about the methane from SnakeMountain? Close them down!

So their official debt is just slightly less than their turnover?

This is worse than we'd thought.

Clubs rejected move of Celtic & Rangers moving now we can stop talking about it for another couple pf years please ..

Well thats the £30m confirmed however, what with radio clyde/FC hamburg hitler youth based plan of 15000 orcs at £3000 a head about to swing into action perhaps things are looking up over at ipox....or will UEFA actually do the right thing?

Move to a foreign league knocked back....

WOO HOO !!!!

The story this morning of a 'mystery Glasgow born American businessman' with mega-millions is a new low in Muppet journalism. The day the accounts are due out, warts and all, and this non-story breaks as a leader on Clyde news never mind the sports news. It's not even clever, it's just the Fergus McCann plan for Celtic summarised in a glib one liner!

I'll give the huns this though, they have a truly incredible hold over the media. World Class in their field.

The story reminds me of the early 90's Celtic supporters buses. Every week a new well informed source had heard of the likes of Guinness's imminent takeover, for a short period, then Coca-Cola were taking over, building a stadium and once that was complete the BIG BOYS were coming in! We all bought it, or more probably allowed our fantasies to be aired for the temporary relief from the stress that it brought. But this was not media driven or even from within the Club. The Old Board were telling us nothing was wrong, and the media were slobbering over our demise. It was harmless fantasy. What's happening with the huns is unadulterated, duplicitous, lies and propaganda.

The huns are in dire straights, in the real sense of the expression. But I'm not so sure that ultimately an investor won't be able to take them over for nearer the bank debt (and possibly just refinance it without having to pay it off entirely) rather than the £100m mentioned in despatches. Rangers are part of a very complex Murray web. But in cartoon parlance its like the road runner being forced to the edge of the cliff. Wyle E Coyote is staring him down, tip toeing closer but as the edge of the cliff breaks off it’s him and the rest of the cliff that fall to their doom and the tip stays where it is!!

If Murray and MIH go down en masse then I can see the huns, sorry Rangers Football Club plc, being jettisoned.

But the rudimentary arithmetic of the fans takeover also being passed off as genuine news is worthy of one last guffaw. I mean how long did it take to come up with the 10,000 fans each paying £1,000 a year for three years to take out the bank. It’s hilarious in so many ways. I mean it’s embarrassing that the plan is about as primary school simple as it could get in arithmetic terms. Whoever thought it up either did it in about 40 seconds, or is a moron stretched to the limit and delighted that it actually adds to £30million and no doubt feels totally chuffed on the achievement. In fact this half-wit now thinks this is how business really works, probably, and him and his mates can own the Club! Sorry, struggling to write any more, it’s too funny.

It’s been on the market so long that the string of people who have sniffed around and walked away must be a mile long. There’s no saviour, all that’s out there is vultures, cobbled together amateur consortia, and chancers, and one of them will end up owning Rangers, eventually, at a knock down price. It’s a total lottery if it’s a Fergus McCann type with a vision or a Neanderthal in a suit who’ll keep them festering in their own centuries old backdrop of bigotry masquerading as a football Club for another generation.

Paul67, you can check my pulse any day....in the absence of Cecil Parkinson, that is. (By the grace of Lucifer, I'd jump his bones in a heartbeat).

Sephiroth, yes that is incredible with no mor eiminent income streams I cant see any option for them, with no move to premiership and a big fine on the way this could be the darkest ever day for Rangers.

hoopeddreams - Thank you, even Philvis can only do so much. I'm also supposed to be working. :)

doonhame del - "What about the methane from SnakeMountain?"

Not surprising with all the brown trousers in the vicinity of Govan right now. (thumbsup)

I take it with the debt figure quoted as at 30 June there's been scope for the bottom line to have gotten worse since then?

As you are all aware on Saturday the 14th of November 2009 ‘Bringing Martin Home’ will be holding its close-out fund raising event in the form of a ‘Race Night’ to be held in the Kerrydale Suite at Celtic Park. Tickets Cost £5. Doors open 7pm sharp. There are still tickets remaining so if you would like to come along please email

Email - info@bringingmartinhome.com

On the night there will be 8 horse races, each race having 8 runners, to be shown on screens in the Kerrydale Suite. You will have the chance to bet on a horse in each race with a minimum bet of £1 if you so wish to do so. You can however bet any multiple of £1 on any number of horses in all races. Like normal horse race betting each horse will have racing odds against them. Once you have bet on a horse you can then sit back and shout your horse onto victory before picking up any winnings due to you if your horse romps home first.

As well as the Horse Racing there will be 2 separate raffles and an auction on the evening.

Note :- unfortunately due to logistics and committee having too much to do with too little time available to do it all in, between now and the race night, the raffle is only open to those who will be attending on the night.
The star prize on the night '2 weeks use of a Florida Villa (accommodation only)' will be raffled off in a tenner raffle were you write your name on a £10 note and it is placed in a tombola before being drawn at random. This prize would normally cost £1200 in high season. The accommodation is located 10 miles from Disney and sleeps up to 12 people. Prize must be used by May 2011 subject to availability.

Raffle Prizes
=============

1 week 'accommodation only' at a Spanish Golf resort.
Framed Celtic Top signed by Current Team.
Celtic v Inter Milan 2-1 Canvas Print.
Tommy Burns Canvas Print.
Henrik Larsson Canvas Print.
Double framed Simon Ferry Top.
John Hartson Top & Book Signed.
Signed Billy McNeill autobiography.
Champions Bar tickets * 2 (one prize).
His & Her Manchester United Watches (worth £100).
Framed and signed Billy McNeill caricature.
Framed and signed Billy McNeill Lisbon Lion print.
Signed Billy McNeill picture.
Various bottles of alcohol.
+ much more.

Auction Items
=============

Tommy Burns Pop Art Oil Painting (Original).
Round of Golf for 3 people at Royal Troon's Portland Course (includes lunch and drinks).
Glass Encased Ball signed by Seville Team.
Double Framed John Hartson Top.
Neil Lennon takes on the Huns signed Canvas Print
Signed Artur Boruc Goalkeepers Top.

Note: Prize allocation may be subject to change if\when we receive donations that can be used in either auction or raffle.

Bringing Martin Home Slide Show as Shown at Celtic Park 31102009.

We look forward to seeing you all there on the night.

Let's get Kano home for Christmas.

Thanks

MWD (on behalf of the 'Bringing Martin Home' committee).

www.bringingmartinhome.com.

By Richie on November 12, 2009 12:55 PM
Move to a foreign league knocked back....

WOO HOO !!!!
.......................

x2 pal, x2!

All right, so there's no EPL involvement for us in the foreseeable future. I suppose this also means no easy way for the TFOD out of their problems. Not exactly a win/win but I can live with it.

Wil the champions league money we generously donated not bring the debt down to about the 20 million mark ?

That debt figure is for June so what is it now?
Turnover dropped by more than a third.
12 mill loss.
comon uefa make this the perfect day.
We would have burried them had we won the league last year.
Bob.

Henriks Sombrero

Just to further state the idiocy of the poster, his pen name

lamhdeargabu, (which is found printed on a loyalist paramiltary flag)

Or Lamh Dearg Abu in its proper Gaeilge, translated as Red hands to victory, always wondered why it was found on that flag and if anyone actually knew it was Irish, I'm sure the poster has no clue.

FUNDING

Net debt increased by £9.6m in the year to £31.1m, resulting in a debt to
equity (gearing) ratio of 47% (2008 - 27%), and headroom on existing facilities
of £8.9m.

The increase, as previously highlighted, is primarily due to the base cost of
the playing squad set against the lack of income from European football.

The effect of the economic downturn will result in the Board imposing greater
financial disciplines in moving forward to ensure the long term sustainability
of the Club. The income generated from the 2009/10 Champions League
participation, together with the downsizing of the playing squad should assist
in lowering our financial exposure despite the loss in income from the SPL
broadcasting rights.
***************************************************************
The £15m revolving credit facility is in place for a period in excess of one
year to 31 December 2010. The term loan, repayable over 20 years, stands at £20m following the scheduled repayments during the year. The current projections
and forecasts indicate that the Company should be able to operate within the
level of its current facilities.

The £15m swap arrangement entered into with the Bank of Scotland in March 2008
remains in place at a fixed rate of 4.67% until at least March 2011.
****************************************************************

£30million worth of loans/ debt repayable to the banks shor term and a further £20million over 20 yrs, this is debt which a future owner/ investor will own or pass on.
They are in deep poo.
Ha Ha

philvisreturns@12.52 - nobody denies that global warming and cooling is a natural phenomena. However the current rate of warming is unprecedented.

I mentioned this before (when it was previously discussed) but it's supported by ice-cores, sediment cores and tree ring data going back over 50,000 years. This is not projections or computer models it's all verifiable physical evidence.

Now that is not to say that there's not lots of corporate scaremongering and mis-placed investment going on. For example, if we had taken all the subsidies put towards wind farms and put it into research into tidal and wave power we'd probably now have in place schemes that can generate a similar amount of power and constantly. Instead of being useless when the wind is too strong or too weak.

Paul - I agree they are in real trouble and this is revenge for the years of mistruth and spin we have had for years and years.

I just wish we would have had the ambition to buy a striker last winter - had we have done their position would have been far far worse........

As the first to post der hun accounts on CQN I claim a cyber pint from .........me........ Doh!

HH

Message to Thatcher

Please stop channelling philvis. He's a very busy man, you know.

new article posted.

14 chairmen voted against the proposal of Celtic & Rangers joining - comprehensive answer, probably wont see it in my lifetime now.

not surprised that the EPL rejected both clubs, worse news for RFC as they are skint...and there I was thinking that my own club would be in the Champions League next year ! ;)

I'm just hoping EUFA do the decent thing this avo!

WMBT

ANOTHER NEW ARTICLE

**********************
*********************

weeminger - "However the current rate of warming is unprecedented."

There is no warming going on though, and the fact that global warming stopped 12 years ago despite rising carbon emissions finally puts paid to the simplistic theory that carbon = warming.

Wind and wave power are practically useless. Nobody would build them without government subsidies - a sure sign of something being crap. There is already a clean, green, highly efficient and proven technology for meeting the energy requirements of our modern industrial civilisation: atomic power. It's all about energy density, weeminger.

More energy density = more win. (thumbsup)

global warming and cooling is a natural phenonimum ,its been happening since earth was created.

weeminger
For example, if we had taken all the subsidies put towards wind farms and put it into research into tidal and wave power we'd probably now have in place schemes that can generate a similar amount of power and constantly.

Im all for tidal and wave power wherever possible however whilst we have a huge coastline and some big estuaries it could never offer more than a fraction of the UKs energy requirements (assuming we coverd our coastline in barriers and barrages) compared to wind--- and of course NUCLEAR!!!!.

http://www.inference.phy.cam.ac.uk/withouthotair/c12/page_73.shtml

http://www.inference.phy.cam.ac.uk/withouthotair/c14/page_81.shtml

surely we would have a minutes applause on thatchers demise,can't wait