News that Hearts are set to go into administration today will give Scottish football has yet another morality lesson to consider, but this time, there will be no pleas for rule changes, no lobbying by the massed ranks of the media for other clubs to ‘do the right thing for Scottish football’, as opposed to the actual right thing. Hearts will face their fate with a straight bat.
This is an unusual football insolvency. Normally clubs go into administration when they cannot cut costs quickly enough to satisfy a creditor but on this occasion it was the way the club’s debt was structured which caused the problem.
While Celtic have long term loans with fixed repayment terms stretching years into the future, Hearts owed money to their own shareholders, most of which was repayable on demand (as almost all non-term loan bank borrowing is). If Hearts shareholder-creditors had issued loans instead of an overdraft, as long as the club continued to make repayments administration would not be on the table.
Ukio Bankas and UBIG, once both controlled by Vladimir Romanov now both insolvent, extended generous credit to the club without the formalities of an agreed repayment schedule. This informality led to their ultimate downfall.
I’ve read interesting views elsewhere that the absence of Rangers International from the SPL has claimed a further victim but there is no evidence to suggest that RI FC playing in the SPL would have sufficiently supported the Lithuanian property and investment market to prevent the collapse of the country’s banking system.
As far as we are concerned it is business as usual but there could be a crunch coming. All we can do is look after Celtic (principally by buying season tickets, never underestimate how important this is) and let nature take its course. If the crunch comes to Kilmarnock (I know, how would this be possible with a sharp kid like Michael Johnston in charge?), St Mirren, Motherwell and others, the game here needs to come up with something more radical than a unitary league body. Any ideas? I’ve one.
You can buy Willie Wallace’ autobiography below:
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PF
Gary hoopers a good striker… but not in the same level as kok bbj or Sutton
Doc, ha ha. Unless you’ve decided to invite me on holiday with you to sunny France I’m not checking all my email again.
BTW, remember the 38 Y.O. Longmorn? I gave JJ a wee flask of that on Friday and haven’t heard from him since.
Should I send for CSI Arbroath?
TBJ
That’s how I see it too
Do you think he’s any better than Scott McDonald …his stats would suggest not
The Boy Jinky
23:04 on
18 June, 2013
The Pickwick
TBJ
A night out would be fecking good!
!!bada bing!!
21:49 on 18 June, 2013
2011 “Bring on the Hearts, the Hibs,& the Rangers…
2012 “Bring on the Hearts, the Hibs
2013 “Bring on the Hibs ……
________________________________
Brilliant.
Joe McHugh @videocelts 13m
From Flinchy on KDS: http://kerrydalestreet.co.uk/single/?p=12282666&t=8808495 … HE WHO LAUGHS LAST #flatsflats
Masty
What state were your mates in on their return from Vegas. Where you crying like a wean after 10 days without them?
Hh
Hi folks
Travel advice time. Going to orlando with wife and kids next week. Also heading down to florida keys for a few days (key west)
Any restaurant recommendations in either area? In Orlando we usually go to longhorns, olive garden and bahama breeze but open to suggestions.
TBJ, I’ll see you on Friday night. Looking forward to a catch up. Did you frequent the Outside Inn? I worked there for a year in the early eighties. They poisoned me with malt whisky and made me the rabid whisky fiend I am today.
And for that I thank Nick and Carrie.
Nick if you read this blog, it was me who polished of the Stathspey 1927……..allegedly.
http://www.bbc.co.uk/news/uk-scotland-15383800
The attached link is to the Mark Daly initial investigation into Rangers under Whyte in Ocober 2011.
If the Charlotte Fakes e-mail is authentic this would place David Murray with Whyte in Monaco some time after this information was in the public domain. Rangers had also been forced to issue a statement to the stock exchange with respect to his disqualification.
Does David Murray not watch the BBC?
Are we to assume that David never discussed Rangers Finances with Whyte at this meeting given Whyte had already admitted to Reagan, Doncaster and Ogilvie that Rangers would soon be in admin in October 2011?
@The bhoy Kojo
You have a strange way of projecting your posts my friend.
But I must say I find the said posts very entertaining.You have a way with yon words
that would make billy shakspeare blush.I know your not the flavour of the month at times on here and so be it,but hey that’s what makes this blog so delightful.
I look forward to many days of diverse opinions now that I find myself in sobriety,
and wish you a hearty Hail Hail.
weeman67
I hope that cross took a few of them out when it fell over!! And they demand respect????
” Do you think he’s any better than Scott McDonald … his stats would suggest not”
My eyes trumphs your stats ;)
TBJ
You going on Friday? We have 7 at our table. Might be worth asking Celtic Charity if you can join (only if you want to mind :-).)
HH
CRC
Kayal
Cheers. .. I had a feeling it was the pickwick. Some of the shaws boys used to drink in there.
Acgr
You joining us at the cqn table in Friday.
Clunks
A good few of us ended up in bar 67 at the end of a recent cqn night in o neills
If you ever fancy a swaree let me know. … great craic and better tunes
Marrakesh Express – I think it was yerself that was going to Krakow soon. Went to the apartments Zbyszek recommended at the weekend, very good – good weather and Zwyiec at 8 zlotys a pint helped too…
gg-HH
McVicar onitv4..great bit there where the screw checks in on the con.looks through the eyepiece in the door..camera moves inside the cell and hes looking through a girls archie on a poster lol
CRC
Ive already said I will sit at the cqn table … but i am a social butterfly … hard to shake off too ;)
maleys bhoy, At the south side of Islamorada just before Bud n Mary’s theres a fantastic fish restaurant called Lazydays. I’ve fished out of Bud n Mary’s a few times and when you take in your catch they’ll cook it up for you in five different styles. Don’t worry though, you don’t have to catch your own dinner. They’ll cook all the fish of the key’s for you there and they’re all fresh.
There’s also a two really good steak restaurants on the island and I jiggered if I can remember the names of them. I’ll post the names tomorrow after consulting the oracle (mrs acgr). One is about a mile down the island from the bridge on the right just next to the mini market, the other is on the left (I think that might be called the green turtle?).
All three are worth a visit but the fish one is exceptional.
Hope you enjoy the Keys.
Fish.com
weeman67
22:04 on 18 June, 2013
This is the tip of the iceberg.
The people our governments would arm in Syria are destroying churches and shrines, levelling Christian villages and using ethnic cleansing in areas they currently occupy.
Might not like this on here. But well done broonie on giving young Carlo Monti a second chance!!!
Maleys Boy
Try this place, I went a few years ago, one of the best steaks I have ever eaten
http://www.talkofthetownrestaurants.com/charleys_kiss.html
Brnobhoy
The Boy Jinky
23:23 on
18 June, 2013
This is the pre CQN table with kids. Have you bought a ticket yet? Still a few available.
HH
CRC
Cheers acgr
Can you email me details if you get a chance please?
Bobbypetta@sky.com
Thanks
Cheers brnobhoy. Menu looks great.
….PFayr
20:55 on
18 June, 2013
Hooper wants to leave
GTF…..ungrateful basket …
CFC only need players who want to play …
We’ve had much better strikers than Hooper..
==============================================
My views on GH I have stated before,an occasional participant,but I maintain if he does not want to sign then goodbye and goodluck.
I believe,more importantly than his actual contract signing, is the fact his reluctance or perhaps delaying tactics, is diverting the Managers focus re the preparation of the fast approaching qualifiers.
Why we did not speculate on Russell is a mystery as his fee,if he was not ultimately required, would have been recouped with ease.
Our new signing Balde obviously has to settle,but I worry if he was purchased as the “big target ” man to support Hooper,who may not be around.
I would ask GH to sign or go.
I would have signed Russell and played him or Stokes with Tony Watt who should be encouraged and coached.
ps At Dundee btw.
Jeez
Cheers for that. What was the name of apartments? He listed a few.
TBJ, I’m not sure if I’m at “the CQN table” but I’m coming down with young acgr and hope to be sitting at “a table”. Young Acgr will be easily recognisable in his false beard ad moustache. He’ll probably be more easily recognised drinking pish american bottled beer.
Hope you’ve not been designated as the driver again:-(
brnobhoy
Went there with my dad on a boys tour a number of years ago.
Took 1 1/2 hours to get a table, didn’t take bookings if I remember. Huge coloured guy throwing around large pieces of beef on a huge open fire type pit.
Best steak of my life and fully converted me to rare steaks.
A must go to. Brings back memories
Ach all the funs gone.whens the music bhoys on?
El ron de cuba Anjeo Especial
Drambowiecelt
Hiya,pally?
Nice… tae Greet and Meetya!
Thanks fur the Nod.
Ah hiv bin oan here fur Nigh oan Ten Years ,Noo..
Sure,Ah hiv Ma Sworn Enemies..oan here.. and Ma Unsworn wans.. as well.
But, here is a wee tip fur ye ,pal.
Don’t believe Half of whit they write aboot Me.. and Don’t believe any o’ the Ither Half, eethur!
Whit Ma detractors ,oan here, write aboot me…is Maistly…well… Composed…
Of Spiteful Compositions of Egregious Exaggerations and jist plain Ordinary wans, as weel!
They bother me not.
Keep reading Ma Stuff.. Pal..
it’s awe good clean Wholesum …fun…
and if ye Dare tae dae,dae.. that..
Ah kin Assure ye.. that yer Psyche wull.. no be..well… visibly.. Damaged.
Kojo
Still.. Laughin’
maleys bhoy
23:12 on 18 June, 2013
I’m a regular visitor to the Keys, but don’t frequent the Key West hotspots.
I can highly recommend the sunset celebrations at Mallory Square.
The Hard Rock on Duval St has generic but good quality food and if you can get a seat outside you can enjoy the passagio heading to the sunset fest.
Sloppy Joe’s and the Hog’s Breath have loud live music but the food is less than average.
I will be down there late July and will probably have an after noon in Key West.
I always wear my hoops on Duval Street and usually get a few Hail Hails.
Drambowiecelt
For the SFA
http://www.youtube.com/watch?v=Nt4SNfcd72s
Cheers gg.
We are there for 3 days from 8th -10th july. Staying just outside key west at best Western ambassador hotel.
Looks like drive from kissimmee will take about 7 hours……
a ceiler gonof rust
23:23 on 18 June, 2013
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The kids, and myself, really enjoy our visits to Island Fish Company in Islamorada.
The kids for the fire eater, the calypso player and the sharks in the pool.
I love it for the chance to visit the Bass Pro Shop and buy a few shirts.