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Day of reckoning draws close for Rangers

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Companies have a statutory duty to produce financial reports in line with commitments made to shareholders.  The failure of Rangers to fulfil those commitments was put down to a lack of clarity over the future outcome of the on-going tribunal with HM Revenue and Customs.  As a consequence of this failure, trading in Rangers shares have been suspended by the Plus Stock Exchange.

The Plus Stock Exchange also told Rangers broadcast partner, STV, they were “currently conducting an investigation into the circumstances under which Craig Whyte’s seven year disqualification from acting as a director in 2000 were not disclosed at the time of his appointment to the board of Rangers FC on May 6, 2011”.

Rangers today suggested there was “little, if any, tangible benefit for the club to be a listed company”.  This may be true but the benefit of a listing is heavily weighted towards shareholders and creditors, who should have received structured financial information in a timely manner.  Shareholders have also been denied the opportunity to attend an Annual General Meeting, which, in line with stock exchange rules, should have been held before 31 December 2011.

Many of you have watched Rangers speculate wildly for over two decades with the feeling that they would crash and burn.  This has been a painful period for those who follow clubs who stick to budget, unprepared to take a seat at the roulette table.  The day of reckoning draws closer.

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  1. pedrocaravanachio67 on

    what’s the odds on them, thatcher and paisley going in the one year or am i asking for too much? ach well Champagne at the ready anyway.

     

     

    pc67

  2. weeminger says:

     

     

    9 January, 2012 at 16:00

     

     

    A reconstruction that is based on integrity would get rid of the split and so favour more clubs in the top two divisions.

     

     

    The argument against this is games of lower competitive quality (tell that to Auchinhleck) and the loss of revenue from reduced games.

     

     

    The Scottish game needs help and should be going to UEFA for financial aid. As I said earlier all the UEFA money does is put more Bentley’s on players driveways or on gee gees.

     

     

    Even 10% going to a good governance/integrity fund would help address the anomalies that UEFA and greedy clubs have themselves created through the distribution of CL money.

     

     

    Platini said this at Christmas.

     

     

    ” I have always perceived my responsibility as being to protect the game, and 2011 has been a year in which the game has needed particular protection. It has been a year which has underlined the importance of our organisation as one of the guarantors of the values, stability and equity of this sport.

     

     

    It has been a year in which certain of our national associations have had to take courageous decisions to preserve the justice and integrity of our sport. A year in which we have also had to remain solid and defend our values – sometimes alone – to guarantee the respecting of the rules and the equity of the competitions, and to prevent football becoming a hostage of a few for their own profit and interests. It has been a year in which, unfortunately and at the expense of certain agonies, football has emphasised its need for transparency and governance, aspects which are so important in relation to the respect which is so dear to me.”

     

     

    Time to put UEFA money where his mouth is methinks.

     

     

    A survival plan that saw Hearts and Rangers start in Div Two with compensation for the top Division clubs for a limited period or until both got promoted whichever came first and application of rules for new clubs (no UEFA competition for 3 years) might make the pill easier to swallow.

     

     

    There are a number of other good governance requirements with Scotland’s unique culture in mind that UEFA should stipulate before giving aid.

  3. Re the odds, those betting odds are the odds of what has happened occuring. However the odds today of an away draw were always 50/50,even with the preceding draws being away, and because this is as close to a perpetually recurring event (we’ve been drawn 1000 times and we will be drawn 1 million more) then the odds are always 50/50. The odds of a long sequence occuring, significantly longer than 8 or 9 in a row are exceedingly low, to the extent that considering how many draws we face this was inevitable, will happen again and also in reverse.

  4. Folly Folly says:

     

    9 January, 2012 at 15:55

     

     

    Doubling?

     

     

    Always play safe(r) by placing your opener after the 5th or 6th consecutive red/black.

     

     

    Never seen more than 11iar.

  5. re odds, how we perceive odds and all things curious.

     

     

    I once read an article in a book or magazine regarding an extraordinary event from yesteryear in Finland (I think), where two old men, twins, were killed on the same day in cycling accidents involving lorries on the same street. One was fatally struck by a lorry in the morning and the other, apparently without learning of his brother’s fate, was fatally injured in the evening by another lorry.

     

     

    What were the odds of that?

  6. glendalystonsils on

    I read an earlier post which said 31st January is the date for armageddhun. This also happens to be my birthday….YIPPEEEEEEEEE

     

     

    If true it will be every Tims birthday

  7. How many sets of twins dont die on the same day? Its because the event you describe is extraordinary it merits interest. Like people who dream the lotto numbers and dont win.

  8. If Hearts were to go to the wall it might set precedents for what will happen to their big cousins – but only if a NewCo is set up. I’ve no idea what the possibility of that happening might be or exactly how Romanov might act in the circumstances.

     

     

    But you can bet that the powers that be would not see the same difficulties in a top tier without Hearts that they would to one without the huns.

  9. You have to know a number of factors how many sets of twins are alive how many die on the same day and how many in separate rta’s. There will be odds for this but other contigent factors would be age, geographic area etc eg if the twins were bushmen the probability of them being killed in an rta are less compared to twins living in say Calcutta.

  10. What odds would you get on this happening ??

     

     

    Officially … There were 96 ‘industrial’ fatalities during the construction of Hoover Dam. This figure does not include deaths by other means including heat, heart problems and curiously, pneumonia. Another estimate is 112 deaths and that would include the entire time frame of the Boulder Canyon Project and not just the construction period. The larger estimate has an odd bit of irony to it. The death count begins on December 20, 1922 with J. G. Tierney, a Bureau of Reclamation employee, who was part of a geological survey. He drowned in the Colorado River when he fell from a barge. Exactly 13 years later, in 1935, his son Patrick W. Tierney, fell to his death from an intake tower on Hoover Dam.

  11. bournesouprecipe says:

     

    9 January, 2012 at 16:30

     

     

    We had it split up into Algebra, Geometry and Trigonometry. My best three subjects.

  12. Rabiu Ibrahim and Kris Commons to get a run out tomorrow against St Johnstone.

     

     

    Wigan supposedly enquiring about Izzy, but don’t look like they have the cash to buy him.

  13. IbleaBhoy says:

     

    9 January, 2012 at 16:33

     

     

    All those factors and so many more. I think it was an article in New Scientist or possibly some Maths book. They (the authors) were able to demonstrate that such an event was more likely to have happened than not since the introduction of large vehicles (say 80 years or so).

  14. ASonOFDan 15.48

     

     

    “Net current liabilities” = all debts owed by the club and due within one year.

  15. By the way, J G Tierney, originally the family were from Co Clare, drowned on 20th December 1922 and his son died on 20th December 1935. The first and last to die on this huge project.

     

    Now I’m heading down town to buy an anorak !

  16. Turn The Page…

     

     

    Who is the Best Newcomer tae oor Ranks?

     

     

    Is It Izzy?

     

     

    Is it Wayama?

     

     

    Is it Kayal?

     

     

    Is it Matthews?

     

     

    Hmmm , Hmmm, Hmmm… Hmmmmmm!!

     

     

    Ma Pick Foist..as Ah though aboot this Contest.. well. Foist.

     

     

     

    AH Plump fur..

     

     

    Adam Matthews.

     

     

    Adam is a Brammer.

     

     

    Kojo

  17. I remember that Jelavic in his interview mentioned about Janury 14 th as the day when Rangers owners will be discussing about possible outcome and that on that day they will be making important decisions.

  18. tomtheleedstim on

    I just thought that the odds on the first away tie would be evens (i.e. could only be home or away) and so the second time would be 2/1, then 4/1 etc.

     

    I’m sure that’s how Rosencrantz and Guildenstern worked it out. I had a couple of pints with them last night.

     

    Having said that, I (nearly) always lose when gambling. That is indeed odds on.

  19. Rabiu Ibrahim – a small and fairly slight guy – quite surprised the Club are looking at him. temporary signing to cover for Kayal perhaps?

     

     

    (though more than likely yet another trialist which will lead to nothing).

  20. Monaghan1900

     

     

    Cheers,

     

     

    How the hell could that increase to 30 odd Million already, if the Billionaire has came in and wiped out the debt?

     

     

    Anyone care to speculate what liabilities this figure could consist of?

  21. MadraRua says:

     

    9 January, 2012 at 16:33

     

     

    Again, almost a racing certainty.

     

     

    That it sticks out is only because we look at it in isolation.

     

     

    When we consider every construction project undertaken since records of fatalities were retained, then it becomes much less extraordinary.

  22. MadraRua,

     

     

    Went to visit the Dam on a drive from Vegas to the Grand Canyon and the Deaths are listed as you describe on a plaque (i.e. Father and Son).

     

    As a Tierney, it kinda stuck with me :-)

     

     

    Mucker

  23. Of course the odds would be much greater on a specific set of twins than any set of twins. I can assure you the odds will not be astronomical .

     

    For instance can anybody guess what the odds are that 2 people will share the same birthday (day and month) in a room of 30 people.

  24. The Battered Bunnet on

    The Honest Mistake

     

     

    If there was such a particle discovered, would it have a mass?

  25. IbleaBhoy says:

     

    9 January, 2012 at 16:43

     

    Of course the odds would be much greater on a specific set of twins than any set of twins. I can assure you the odds will not be astronomical .

     

    For instance can anybody guess what the odds are that 2 people will share the same birthday (day and month) in a room of 30 people.

     

     

    ——————-

     

     

    Its not 365-1, but it is something like 30-1.

     

     

    something to do with actual birth patterns, ie its not an even spread.

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