Flats, flats, glorious flats

1023

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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  1. jeez_I_thought_blinker_was_pants on

    Marrakesh Express – DOMINIKANSKI 5, handy for everything, but with the added bonus of a balcony that gets the sun all day, they gave us the keys at 11:00 which was pretty decent, most places have you waiting until 14:00, we landed at the back of 9 in the morning (26 degrees) so it was ideal. Oh, and the cafe downstairs gave us a couple of free beers as well. The main office, who give out the keys, are 5 minutes from the train/bus stations.

  2. Drambowiecelt on

    My dear Kojo thank you for engaging with me on this here dear blog.

     

    I look forward to debating the rights and wrongs of our dear world and imagining we can change the status quo with well debating.

     

     

     

     

     

    On/In

  3. Bruce Springsteen is The Boss!!

     

    Superb concert at Hampdump tonight.

     

    What a performer!

     

    What a band!

     

     

    ~SPF~

  4. Jj booths loved that place ..forgot about it till it was mentioned earlier…burrell hotel(rip) irish nights were ran by Manus O’Donell(rip) my bruv ran the stuard co.for him till he toasted mcNees (allegedly)he had a bitter ending ..loved that pub..owned partly by my friend vinnie vallentini and john doran a good gorbals mhan..was on my way to work the morn it was up in flames poor vinni was gutted as the new extended lounge was days away from opening

  5. Drambowiecelt on

    @clunks good wans. I don’t know how to do the link thingy

     

    but if carlin done it it would be

  6. Excathedra44

     

     

    Gary ..in Ma opinion.. wants tae Play.

     

     

    He likes everything aboot the club..

     

     

    Ah , very carefully. watched..nay.. Scrutinized..

     

     

    His reaction .. during the On the Pitch… Celebrations.. after oor Wonderful Cup winning Victory.

     

     

    The Lad.. Honestly… tae… well.. Goodness..

     

     

    Simply..

     

     

    Wiz .. Jist as Elated and Ebullient in Celebrating oor Triumph..

     

    as the ither members of the joyful team.

     

     

    Hoops ,jist wants.. wit… I Presume… baith you and Ah.and a Host of Ithers want…

     

     

    and that is..

     

     

    Mair Money!

     

     

    Admit it ,.. Don’t you wish that ye hid Mair Money?

     

     

    Daft question , Ah know..

     

     

    But according tae the submissions that Ah read oan here from a select few,, subscribers oan here..

     

    They are of the opinion that Gary,is Some kind of Ungrateful Upstart.. who.. is Treating us,so Shabbily.. By no bending the Knee.. and no Meekly Signing that Extension..

     

     

    Efter Awe that the Club has done fur Him., or, so … they Aver.

     

     

    Ah say that a workman is entitled tae being recompensed , according tae his worth..

     

     

    and

     

     

    Hoops.. his Proven his Worth..over and over again.. tae the club.

     

     

    “Gie the Bhoy Mair Brass…” Ah Declare.

     

     

    Kojo

     

    Still.. Laughin.

  7. Drambowiecelt

     

     

    Cut and paste the www address link from youtube. CQN does the rest. easy

  8. Maley’s Bhoy

     

    When approaching Ft lauderdale airport stick to I91 which runs west of I95 on to 821 and helps avoid the worst of Miami traffic.

     

    Be sure to do the Overseas Highway in daylight. It’s spectacular, if a wee bit slow as the 50 MPH is aggressively enforced.

  9. A Ceiler Gonof Rust on

    maleys bhoy, here you go.

     

     

    Ziggy’s Mad Dogs. Despite the bizarre name this is the most upmarket restaurant on Islamorada. I went there on all three occasions I was in the keys and it is outstanding but quite expensive. Great steaks and great wines. If you want to go here you should book in advance.

     

     

    http://www.tripadvisor.co.uk/Restaurant_Review-g34346-d1071834-Reviews-Ziggy_s_Mad_Dog_s-Islamorada_Florida_Keys_Florida.html

     

     

    Lazydays, as before fantastic fish and I don’t even like the stuff, well except catching them.

     

     

    http://www.tripadvisor.co.uk/Restaurant_Review-g34346-d1342990-Reviews-Lazy_Days_Restaurant-Islamorada_Florida_Keys_Florida.html

     

     

     

    Green Turtle Inn. Not as good or as expensive as ziggy’s but still worth a visit

     

     

    http://www.tripadvisor.co.uk/Restaurant_Review-g34346-d1103419-Reviews-Green_Turtle_Inn-Islamorada_Florida_Keys_Florida.html

     

     

     

    Plus the tarpon feeding place just over the bridge off the island I mentioned in my email. Average food but worth a visit to feed the tarpon.

     

     

     

    JELOUSASFECK.com

     

     

     

    Have a great time.

     

     

     

    HH

  10. Drambowiecelt on

    oops clunks that was meant to be the bono song that he gave to the big O

     

    emdae know it?

  11. Happy Haggerty ‏@AngelaHaggerty 7m

     

    Been blocked by senior Herald reporter @Martin1Williams for challenging his statement on Rangers. Welcome to Scottish mainstream journalism.

  12. Marrakesh Express on

    Jeez

     

     

    That sounds ideal so I’ll go for it. My mate snores like a warthog with a sore throat (his words) so I hope we can get a room each. Feel free to give me info on what to do and see.

     

    Cheers again

  13. Drambowiecelt on

    @clunks first of all my grandweans rool this pad@ so do I have to be on cqn and you tube at same time? what is cut and paste? please forgive my ignorance but im still working out how to change the mileometer for ma m.o.t.

  14. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley on

    Maleys Bhoy

     

     

    Did you ever get to Longboat Key?

     

     

    How was it for you (excuse me)?

  15. Marrakesh Express on

    Jonny

     

    I just caught Hemphill throwing the glass of water over him.

     

    Did he get chinned?

  16. Drambowiecelt

     

     

    get the grandweans to download the youtube app or go onto the youtube webpage in a seperate tab.

     

    get the song you want and hold your finger on the address bar.

     

     

    options will come up.

     

     

    Hit select all.

     

     

    Then hit copy.

     

     

    Go back to CQN and hold your finger on the tex/post box thingy.

     

     

    Options will appear.

     

     

    Select Paste.

     

     

    Bobs yer auntie

  17. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley on

    Sure that others have ripped on it but haven’t scrolled back to check. Apologies if already posted.

     

     

    The G8 conference catches up with illegal tax evaders and corporate tax avoiders.

     

     

    The July 19 appeal for Sevco may yet provide a mid season boost for the good ghuys.

     

     

    http://www.bbc.co.uk/news/business-22956374

     

     

    HH

  18. Ralphwaldoellison

     

     

    We are going to key West instead. I was outvoted. People we are going with and own the villa wanted to go further afield.

     

    Still plan on going to longboat key for a day trip though

  19. Drambowiecelt.

     

     

    Clunks has advised ye well..

     

     

    Another method , which Ah happen tae use ..in order tae Post a lInk..

     

     

    Is .

     

     

    tae simply, TYPE, the .. exact Address of the Link which you are giving

     

    your readers the opportunity, tae visit.. in your Submission.

     

     

    Then..

     

     

    Providing, of Course…if …you do this.. oan a Thursday,,and ..it is NO RAINING(In Glesca?..ed) and the River Cart.. hisnae Riz..and Weefratim’s Blue Hens.. are Still.. Alaying..

     

     

    Then.

     

     

    Yer chosen Link will Work Perfectly.

     

     

    Of course, I am presuming that you will be using .. Windows 10 Browser..in order, to accomplish this task.

     

     

    E.G.: http://www.celticfc.net/mainindex

     

     

    Kojo

     

    Still..Laughin’

  20. Drambowiecelt on

    @henrik you really do the full shilling hail hail my friend there are 8 of us meet up on a fri and so far only muggins here has started posting again,Anyway my point is we would love to be able to do something but apart from reading cf revelations and various truths, nobody knows what to do.I believe we have a powerful voice in scots football

     

    but truth be told we are not sure of the way forward. Anyway you keep up the good fight and be assured that you are not alone and if our little group can be of any help please let us know.

     

    Celts for truth.

  21. pauloantony

     

    00:04 on

     

    19 June, 2013

     

     

    It would fit cheats fc to focus on why their club and owners are stealing from charity

  22. jeez_I_thought_blinker_was_pants on

    The next time I notice you are on I’ll pass on a few ideas.

     

     

    Others CQN’s such as CRC have been too and can pass some info.

     

     

    CRC promised to email me info on a good eatery, but didn’t bother. Probably because he got tanked at the 5’s by our team:)

  23. Marrakesh Express on

    Jonny

     

     

    Hilarious…McDade offered him a square go two or three times .but kept apologising to the presenter bird Rona in between claims. Definitely not stage managed.