In an interview in yesterday’s Scotland on Sunday prospective Rangers owner Charles Green came up with a remarkable justification for loaning the £8.3m he proposes to put into Rangers if a CVA is accepted instead of putting the money in as equity. The loan will be repayable with a healthy interest return for investors.
Green said “The reason it is a loan is because I never wanted the 26,000 existing shareholders diluted and destroyed. If I put all those monies in as equity on the first day, they would have been down to nothing. This is a classic example of where I have spent hours with my advisers and paid them big fees to protect the minority and I am now the bad guy, this crooked guy who is putting a loan in to take 4000 per cent interest on it.”
Rangers 26,000 minority shareholders are unlikely to know what percentage of the club they own, or worry too much if that percentage is diluted, but this ‘concern’ is utilised by Green to justify his return.
We like this guy. I hope he hangs around.
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Afternoon all.
I haven’t been around for a while. I don’t suppose we’ve signed a goalie while I’ve been away…?
Gordon J ——–
I left Scotland @ 12 years ago . I have no plans to return -holidays excepted
but ———-
The Great Panjandrum has to answer 3 big questions –
How can you have monetary union without a matching fiscal union ?.
Will SNP land use Sterling , the Euro or something entirely new ?
How will a Scottish Government deal with an independent Scotland’s share of the existing UK National Debt ? [ apart from adopting a Hun like that wasn’t us line ]
A simple question for all the Unionists out there.
How many countries that have gained Independence from London have ever asked (or even seriously hinted at) to give up that Independence and go back to the good old days of London rule?
I have no idea what will happen on Thursday but I would not rule out a cva being approved (where has the big tax case gone? Is that a coincidence?).
One thing I am sure of is that we will be playing Rangers in the SPL next season and I doubt they will be strongly penalised.
Cee lo green is living in the same wonderland that Cw & DM occupied. 19 ‘targets’? 5 players at the euros? Not even roberto mancini would name prospective targets just now, and he’s got cash!
The BBC are being really ridiculous in reporting this p1sh. The DR print this pro-green guff to sell their bog-roll.
On another point, if you have declared income for the previous year, but are awaiting the outcome of a CVA, are you taxed on the money you receive, or on the money you should have received?
SoT
As well as Scotland taking a share of the national debt, we will also be due a share of all of the UKs assets as well. Swings and roundabouts.
Por Cierto on 11 June, 2012 at 12:29 said:
‘You make the last bit out as though that would be his excuse, but surely that would be Democratic!…..por cierto’
No, that would not be democratic.
What would be democratic is implementing the policies in the manifesto. That’s where the mandate comes from, not from a so called consultation that will have generated responses from a tiny percentage of the number of people who voted in the election (which at 50% turnout is itself pathetic).
Well said Macjay 1, a rare event- an expression of tolerance towards the English. I’m no longer surprised at CQNers who bemoan their own position and treatment in Scotland whilst applying similar attitudes towards the southern neighbours.Even to the point of watching cricket,tiddlywinks etc in the hope of anything to find fault with,let alone a loss!!!
After over 45 years residence as a FEB/ half Irish Celtic fan when repeatedly told “It’s because of the past”. Answer-it went both ways,Picts and Scots loved raiding south,presumably why the Romans built a wall. No wars between for 200 years or so,why do you support the Germans,look at the memorial and see the Scots names.
“It’s because of the commentators,their arrogance etc.” I lived through Ally’s Tartan Army- nothing could compare with that buildup and presentation. But I must admit to having almost as much fun as you do at the end of an event.
If the English can respect and admire Celtic they cant be all bad.Maybe when Rangers pass away tolerance can prevail amid the many laughs at sporting “slip ups”. I think the odds are better on the death of Rangers though!
Final thought- of course you have to be at an event even to make an arse of it!!!
Regards to all.
greenjedi
A simple question for you.
In how many of those countries, did a football manager, politician and a member of the legal profession get sent bombs in the post for being Catholic?
greenjedi on 11 June, 2012 at 12:34 said:
”A simple question for all the Unionists out there.
How many countries that have gained Independence from London have ever asked (or even seriously hinted at) to give up that Independence and go back to the good old days of London rule?”
We, as Scots, ruled those countries, didn’t we?
We, as Scots, played a disproportionately large part in bringing those countries into the British Empire, didn’t we?
Scotland isn’t a British colony. It isn’t an English colony.
I know you’d like to think it is, but it isn’t.
A serious question:
If Salmond had kept his nose out of football would you be any more receptive to the notion of Independence?
Dan – WTF has that got to do with anything?
Ernie – Officially they were ruled by Britain, however in reality and perception they were ruled from London, England. As an example tell most Americans you’re from Scotland and they ask is that part of England?
Also Scotland wasn’t a colony? Aye right!!!
Snake Plissken
The day it emerged that the SNP had systematically destroyed all the data regarding sectarian crime over the last decade, was when I decided I did not want an independent Scotland.
I believe it was a subject well covered by CQN and Paul67.
Mikael Lustik starts for Sweden v Ukraine tonight.
greenjedi
Too hard a question. Try this one.
Name the other independent countries whose ruling party systematically destroyed all the data held regarding crimes against Catholics.
Asonofdan
I appreciate that point of view. I can understand everyone feeling like that towards the SNP.
I myself am conflicted. I want Scottish Independence and always have. The problem is who would be running the place.
I do not think it will happen but I wish the Scottish people could have the self-determination everyone else deserves.
Tragic that things have gone the way they have.
Vote for Independence then vote Salmond out at next election :¬)
I think the main problem with the independence question is that there appears to be no significant economic benefit in it for the ordinary punter. Will there be better public services, better job opportunities,a safer and a more civilised society if the Union goes? There may be a sentimental or even an atavistic motive for seperation but I cant see a practical one.
Dan
So you’re only interested in Independent countries that destroyed data regarding crimes against Catholics?
Is that not a bit unfair on Muslims, Jews, Hindus, Protestants, Jehovas etc etc?
Championship point – Nadal
Regarding independence. It’s worth remembering that a Yes to indepence is not necessarily a Yes to years of SNP governement.
I’d be inclined to go independent and then see who comes to the fore with the most serious and credible politicians.
Charlie Green only has 19 players shortlisted in the gripping Footy Manager series. If you don’t have at least 1000 you’re not joining my game pal, want a bit of a challenge at least.
HH
Apart from anything else, no Union means no Union Jack which will upset a group of bampots who may not have a quintessentially British Football club to support for much longer.
Maybe it will be good timing.
Hee hee
Paul67 et al
Nadal beats Borg’s record in Paris! Fantastic!
Nadal Champion and eclipses Borg on clay.
Self determination doesn’t have to mean outright independence. Up until now the people of Scotland have decided that being a devolved part of the UK is in its best interests. In the referendum they should be asked whether this is still their view or whether they wish to become an independent country.
Nadal wins
greenjedi on 11 June, 2012 at 12:18 said:
*************************************************
With the referendum taking place at the latest in 2014 then the current UK Govt get to decide if it would accept an independent Scotland into Sterling.
It is just my opinion but if you could at a stroke blow the SNP out of the water for the referendum you would make it known during the campaign that the Treasury would not accept an application from a new country to join Sterling particularly during these times of financial uncertainty and the UK would no longer have Scotland as an part of the UK and it would become a major competitor to the UK economy what incentive is there to assist that new competitor.
So the decision on the currency would be taken before the vote it is important that the SNP have not written to the EU or the UK treasury to clarify this it shows they are scared of the answer.
Gordon J
A good point but the current system allows Thatchers to be foisted upon us with little or no recourse to stop policies.
The Scottish Parliament can offset some of the London policies but not all. It’s better than in the 1980’s but not perfect.
St.John.Doyle – There’s nothing HM Government can do to stop another sovereign state from adopting Sterling as their currency.
Ecuador uses the US Dollar, for example.
Zimbabwe adopted the US dollar a couple of years ago because their government’s actions had destroyed the value of the Zimbabwe dollar.
So an “independent” Scotland could use Sterling. However, it should make us question what sort of “independence” the SNP are proposing if they’re happy to outsource management of the currency to a foreign power.
Also, who will lend money to the Scottish government when it doesn’t control its own currency? An “independent” Scotland would likely find it has to borrow money at much higher interest rates than the UK currently does, and would thus be in the same impossible position that so many Eurozone countries are currently in.
The SNP are even more committed to public spending than the current UK Coalition government – which is now spending more than Gordon Brown’s administration ever did – are. So they’ll need to borrow money to cover the shortfall between their lavish spending plans and the amount of tax revenues that would be raised after “independence”. Posturing about how everything will be OK because they’ll no longer have to contribute to “Trident” isn’t a realistic answer.
How long would it be before an “independent” Scotland is forced into seeking bailouts from the international community? (thumbsup)
South Of Tunis – How can you have monetary union without a matching fiscal union ?.
Indeed, hence why the biggest economic experiment in human history, the Euro, is doomed to catastrophic, ruinous failure, taking the hopes and dreams and savings of an entire generation of people with it.
The SNP often complains that interest rates in the UK are set towards the needs of the South of England. They’re probably right on that point, it’s a problem you find in many currency areas (e.g. the United States).
However, Scotland also benefits from fiscal transfers from HM Government to help smooth out the downsides of being in a currency union with England, just as internal fiscal transfers within the United States help make the dollar zone palatable to people in places like West Virginia and Alabama.
On “independence” those fiscal transfers will stop, so no more generous funding of public services in Scotland, no more bailouts to Scottish banks, etc.
The SNP are proposing something they call “independence”, but which on closer examination is nothing of the sort and which would leave the Scots in a worse position than they are today.
They want Scotland to have all the downsides of a currency union – be it in Sterling or (and this is how you know they’re not living on the same planet as the rest of us) the doomed Euro, with none of the upsides of being in a corresponding fiscal union.
They also propose a form of political “independence” which would leave Scotland a satrap of the European Union, with little more self-determination than Poland had in 1982. (thumbsup)
greenjedi – As well as Scotland taking a share of the national debt, we will also be due a share of all of the UKs assets as well. Swings and roundabouts.
What assets? As the outgoing Labour government minister admitted in 2010, there’s no money left. (thumbsup)
Wonder if Mr and Mrs David Cameron will be summoned to a meeting with the local Social Worker following the revelations they left their daughter in a pub on Sunday.
A full entourage of family, friends and Special Branch “bodyguards” and no one notices the wean isn’t in the car, on returning to collect the 8 year old some fifteen minutes later they found her helping the staff, its not clear if any payment was made for the work the 8 year old did during that period, or whether it was merely work experience.
Could be worse I suppose, this man could be running the country.
greenjedi on 11 June, 2012 at 13:01 said:
Or Jedis for that matter.
Nadal beats Steve Thomas in the final
Bada bing you go get your motor
G’day Celts, is this party political quicknews?
Snake Plissken,
Any political system gives the possibility that a party will be elected that does not represent the majority view in every area. A government in Edinburgh could secure a majority with little support in the Borders or the Highlands.
Gordon J
True but at least they won’t be Tories.
:)
Vmhan on 11 June, 2012 at 13:10 said:
weve run out of arguments:
CVA BTC WTC WGS IRA PIRA CIRA B&Q so we thought SNP would do till Paul obliges with a new article.
Snake Plissken,
Can’t disagree with that!