Newco preaching financial risk blind to Celtic benchmark

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You would be forgiven for believing you lived in a parallel universe if you read Newco Rangers director, Paul Murray, today, who told us, “the benchmark in Scotland is Celtic”.  “First and foremost, we don’t want to put the club into financial risk”, he told reporters.

Yes, I know, it’s supposed to be the company, or maybe the holding company, that’s put at financial risk, not the club, the club can sail on regardless of financial realities. With an impressive sense of entitlement, but we’ll not press Murray to square that circle.

Let’s instead remind him of the roles of a non-executive director.  PricewaterhouseCoopers define the roles of a non-exec as:

Constructively challenging and contributing to the development of strategy

Monitoring the performance of management

Satisfying themselves that financial information is accurate and that financial controls and systems of risk management are robust

Succession planning and determining appropriate levels of remuneration for executive directors.

Paul Murray, you will remember, was a non-executive director of oldco Rangers, and that club was well and truly put into financial risk, costing hundreds of creditors money, ending in liquidation.

Businesses have non-executives to offer help but also to be the eyes and ears of ordinary shareholders, creditors, customers, staff and any other stakeholders.  It’s their job to sit at board meetings and ask the questions of the executive management, ensuring the company is able to meet all obligations.

They should be banging fists on the table demanding risks are brought under control.  If they are unable to impose control on management, they should resign.

It was Paul Murray’s role to ensure that financial controls and systems of risk management were robust at oldco.  He was paid to constructively challenge strategy, and to ensure management performed their duties.

In this respect, Murray was magnificent.

22 years ago we went through a rebirth.  The old board, unable to take the club forward, limped off the scene.  Imagine for a second that a few years later Fergus and his fellow directors were swept aside by the old board (who remember saw the writing on the wall and appropriate took steps).

It’s unthinkable.  The benchmark in Scotland is indeed Celtic, where those susceptible to vanity spending on football bling at the cost of financial security will never be the eyes and ears of the club’s fans and shareholders.

These people are perfect in every way.

CharlietrailerSTATIC

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  1. Not surprised to hear the news that the morons have started to target Auldheid.

     

     

    Ian Bankier was quick to accuse Celtic supporters of “criminally racist abuse” at last year’s AGM. I hope he’s as quick to condemn this action by shareholders simply asking a question on licencing.

     

     

    We haven’t heard too much about those criminal racists, have we? Wonder why…?

  2. Coneyboy & Foghornleghorn

     

     

    Jimcon’s suggestion might work for you, but after weeks of struggling with the delays on the new system, I started to use Google Chrome and installed Adblocker+ (in about 60 seconds). Absolute belter of a result and I did the same thing on my iphone and tablet.

     

     

    Worth a try?

  3. foghorn leghorn on

    jimcon

     

     

    aye, i have javascript disabled on my phone and it doesnt happen

     

     

    but on my works pc i cant be bothered doing that all the time

     

     

    it seems to be the way of the interweb these days that site developers punish users with javascript turned on by trying to make their sites unusable

     

     

    i remember when javascript was thought of as a tool to improve the user experience on a website

  4. Auldheid @ 2.03 Sorry to hear about your troubles? I can confirm however that you cut a fine figure of a man in your straw Panama hat adorned with suitable Celtic band. You are obviously getting to them when they have to resort to their usual thuggish tactics, more power to your keyboard. Hail Hail Hebcelt

  5. Also when the pop ups etc are stopped the data usage is minimal which helps those like me who have a monthly limit

  6. When I was searching for the semi final date I accidentally came across a hun website. I`m afraid the comments there(foul language etc) were such that I`m not surprised at what`s happened now.

     

    Re the board I tend to feel they just don`t want to upset sevco for when they have their formal and informal meeings etc

  7. Joe Filippis Haircut on

    Auldheid. I am sorry to read you are getting hassle over resolution 12 there are idiots everywhere we are supposed to have free speech but it is a myth so many dont just want to disagree with other peoples beliefs but want to threaten and bully them. I know you have a lot of friends and a lot of support on CQN I believe you are a real Celtic man and while I dont always agree with what you write but I defend your right to write it keep up the good work I know you mean well. H.H.

  8. MACJAY1

     

     

    Sorry to hear of the passing of your friend Kevin.

     

     

    A lovely eulogy indeed!

     

     

    May he rest in peace.

  9. Threats? I’m not surprised, but what does surprise me is that Auldheid is just starting to get them? Mind you that mob always been slow on the uptake, personally I wouldent bother my arse, I’v been getting them for years on line, and that’s from Celtic supporters.

  10. traditionalist88 on

    The Green Man says SACK THE Board on 8th April 2016 8:53 am

     

    AULDHEID

     

    I know you wont let these cretins intimidate you.

     

    If i can be of any use whatsoever…I will be there.

     

    Give thems my name….see if they can get a picture of me

     

    In fact…i might send them one:)

     

    Just for the hell of it.

     

    ================

     

     

    I’m pretty sure they’d send it back with a note saying they’re only after people who’ve actually taken noteworthy action ;) ;)

     

     

    Only joking bud

     

     

    HH

  11. The Green Man says SACK THE Board on

    TRAD88

     

     

    Noteworthy.

     

    And would you care to tell me what you are doing?

     

    Lets hear it.

  12. The Green Man says SACK THE Board on

    TRAD88

     

     

    That was a simple message of support to Auldheid.

     

    But you could not resist being snide.

     

    Whats that all about?

  13. coolmore mafia on

    Was someone on here not demanding to know the identities of everyone involved in resolution 12 a few days ago?

     

     

    Go to the Police at the slightest threat Auldheid. Catalogue everything with screen shots etc. There is always a trail electronically

  14. traditionalist88 on

    The Green Man

     

     

    A throwaway remark which btw sums up most of the responses to your 20-30 emotive ramblings yesterday.

     

     

    There are processes ongoing, contain yourself a little until we know the outcome.

     

     

    Celtic rule the roost now, enjoy it.

     

     

    HH

  15. Condolences to the friends & Family of Kevin Gafney, May He Rest in Peace.

     

    I’m glad to see Auldheid taking the intimidation so lightly, I hope the Law collars the monkey that put up the photo.

     

    God Bless the Resolutioners, The entire blog needs to stand behind them.

     

    Hoping for a pleasant enjoyable day on the blog.

  16. Y NOT67

     

    _________

     

    Hail Hail ya auld fenian eejit:)

     

    That bloke on yer link is a pygmy

     

    in comparison to CQN’s

     

    Green Mhan…imho:)

     

    HH

  17. The Green Man says SACK THE Board on

    TRAD88

     

     

    Dont patronise me.

     

    We dont see eye to eye.

     

    Lets ignore each other

     

    I cant be bothered

     

    Go argue with somebody else

  18. An Teach Solais on

    Still hoping for a calmer day on the blog. Issues not personalities. Matters of moment not egos.

     

    Nous sommes tous Res12 !!! HH

  19. TRADITIONALIST88 on 8TH APRIL 2016 10:18 AM

     

    __________________________________________________

     

    Celtic rule the roost ?

     

    Really ?

     

    Is that why the parks hauf empty ?

     

    Is that why they canny get into Europe ?

     

    Is that why, when they last scraped into Europe, they were the puchbags in the EL group and, couldny even win a game ?

     

    Is that why the Celtic support, a huge chunk of them, are sitting on nettles, biting they’re nails to the quick at the thought of the SPFL run in and, the SCSF were, we could be on the receiving end of the riddest neck in our history ?

     

    HH

  20. AN TEACH SOLAIS

     

    ___________________

     

    Could you provide a ‘link’ to the Big Mark McGhee

     

    comments about the huns – please.

     

    HH

  21. The Green Man says SACK THE Board on

    KevJ

     

     

    I dont mind getting bs for telling the truth.

     

    It just makes me more determined

     

    I love a scrap and will always stand my ground.

     

    Maybe if some took a bit of that attitude, we woudnt be getting shafted by a mob of half-wit huns.

     

    I know whats right.

     

    And i also know whats bent.

     

    I will always tell it like it is.

     

    Hail Hail Fellow Rebel.

  22. No surprise one of the Troglodytes has threatened Auldheid, it is what they do. As per the man’s response was class, a word I could never associate with them.

     

     

    YNWA

  23. THE GREEN MAN SAYS SACK THE BOARD on 8TH APRIL 2016 10:19 AM

     

    YNOT67

     

     

     

    That was yesterday.

     

     

    Im calm today

     

     

    Aye right, stick around everyone, right am off up ti see MA Wee maw, laters, HH

  24. traditionalist88 on

    KEVJUNGLE on 8th April 2016 10:27 am

     

     

    Its ‘hauf empty’ now, thats an improvement on being 2/3 empty as you’ve being telling us for months.

     

     

    I’ve given my thoughts on the current manager and his team selections and squad management.

     

     

    Fact is we’re still going to win 5 titles in a row, I make it for only the 3rd time in our history?

     

     

    Ronny asked to be judged on Europe this season, and we all know how that went.

  25. An Teach Solais on

    KevJ, Good to see you posting.

     

    Article “Scotland Coach delighted as (Sevco) are back to where they belong” Video Celts weblog @9.13h on 7th April 2016. Couldn’t get hyperlink to work.

     

    Sorry to advise that your hero appears to have feet of clay

     

    Hope you keep well. HH

  26. The Green Man says SACK THE Board on

    Trad88

     

     

    Anybody that knows me…will tell you that im a reasonable guy.

     

    Id help anybody with anything i could.

     

    I might rant and rave….but its with good cause, a lifetime subjected to cheating.

     

    I got taught at an early age…that if you have to cheat at football, you shouldnt be playing.

     

    I still hold to that.

     

    What we have learned about hun cheating, has mostly been uncovered by posters on CQN….but its only the tip of the iceberg.

     

    Anyway…..we will see whose analysis is accurate in the end.

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