I heard a rumour today...

[MarkInTheStands]

My question is....

Do we own all that property outright or do we have borrowings against it?

Suity

That is a good question Suity, Maybe something one would ask if that is not explained in the 2008 Fin report comes out. Maybe something for Fishy to ask at the AGM.

 

[fish eel]

But that was not Ram's assertion. I was merely stating the club did put money away for a rainy day. Ram says they didn't, I say they did. I would think most would be happy it was in something like property, instead of invested in stocks or other options. Sure, not as nice as having it sitting in a bank account, but if it was I am sure we would hear more complaints about not maximizing the ROI on that money and it not reaching its potential profitability. Who knows how much it is worth, it might have gone up it might have gone down, I guess we will find out in April, but again I am only refuting a claim the Ram has about the club not saving for a rainy day. I don't refute that we would have to sell those properties to get back their potential value, that is understood.

Equity is not 'money for a rainy day'. It is not cash in the bank.

Thanks for that Dorothy Dicks. So why do you think that is?

.

You tell me Mark.

It could mean part of it is leased and part not. Or it could mean the whole thing is not leased.

Or, it could mean it has all been leased, tennants not in so they have left the sign up.

Thats why I asked if you knew what the situation was.

 

[MarkInTheStands]

Equity is not 'money for a rainy day'. It is not cash in the bank.

Okay Fine, then Ram was right. Excellent for him.

You tell me Mark.

It could mean part of it is leased and part not. Or it could mean the whole thing is not leased.

Or, it could mean it has all been leased, tennants not in so they have left the sign up.

Thats why I asked if you knew what the situation was.

Mate, f**ked if I know, Why the hell would I know?

 

[Suitman]

That is a good question Suity, Maybe something one would ask if that is not explained in the 2008 Fin report comes out. Maybe something for Fishy to ask at the AGM.

If we have have property worth 40 million, but have borrowed 20 million to finance it,
the 40 million quoted as equity is misleading. That's why I asked the question.

Suity

 

[fish eel]

Mate, f**ked if I know, Why the hell would I know?

FFS Mark, I was only asking if you knew. :roll:

 

[MarkInTheStands]

If we have have property worth 4o million, but have borrowed 20 million to finance it.
Therefore, the 40 million quoted as equity is misleading. That's why I asked the question.

Suity

Excellent, Cool, I would say take that up with the Auditors. Yeah, Good Pick up.

 

[MarkInTheStands]

FFS Mark, I was only asking if you knew. :roll:

and you got your answer. I don't have a f**king clue.

 

[MarkInTheStands]

and you got your answer. I don't have a f**king clue.

And frankly don't care anymore.

I used to. Now . . .Nup.

 

[Avenger]

We could have employed a bloke like Noyce if our club had half a brain.

Fitzy's days are numbered. I think even he realises this now.

 

[fish eel]

and you got your answer. I don't have a f**king clue.

Thanks Captain Grumpy. Answer noted.

 

[Avenger]

FFS Mark, I was only asking if you knew. :roll:

Shut up Commie.

 

[fish eel]

Shut up Commie.

Workchoices killed off today

Good times.

 

[Avenger]

Workchoices killed off today

Good times.

Yeah but they are alloweed to keep renewing existing agreements. They are just not allowed to start new ones.

It's toothless.

 

[TheRam]

Yeah your right Ram. they have nothing, what was I thinking. They only have $40 million worth of Real Estate in the immediate area. (No not just the Leagues club), So yeah pittance.

MITS, for all this supposed wealth, what the hell have they done to protect the club from a 4 million dollar annual hole that can't go on for to much longer before they are forced to eat into and eventually loose that equity. I mean a real return on principle not a few hundered thousand dollars on tens of millions in equity.

The answer is self evident. A big fat nothing, or else we would not be where we are.

Now I know that you are the spin master for the club, but the facts are what they are. We are loosing money hand over fist and most of these guys have been running the joint for decades.

The butt stop with them. Like the Wall St bankster...the butt should stop with them, but that's another story. Or do you wish to apologise for those hoaxes too.

 

[MarkInTheStands]

We could have employed a bloke like Noyce if our club had half a brain.

Fitzy's days are numbered. I think even he realises this now.

I wonder if he will fall on his sword after the football club AGM? Like Leabeater asked. Could be sooner then we think.

 

[Avenger]

I wonder if he will fall on his sword after the football club AGM? Like Leabeater asked. Could be sooner then we think.

Lets say he does, who are the candidates ? I know the obvious one.

 

[MarkInTheStands]

MITS, for all this supposed wealth, what the hell have they done to protect the club from a 4 million dollar annual hole that can't go on for to much longer before they are forced to eat into and eventually loose that equity. I mean a real return on principle not a few hundered thousand dollars on tens of millions in equity.

The answer is self evident. A big fat nothing, or else we would not be where we are.

Now I know that you are the spin master for the club, but the facts are what they are. We are loosing money hand over fist and most of these guys have been running the joint for decades.

The butt stop with them. Like the Wall St bankster...the butt should stop with them, but that's another story. Or do you wish to apologise for those hoaxes too.

Oh yeah completely. I think the Buck does stop with them. If they were real visionaries they would have sold the advertising much more expensivly, much earlier on. Actually if they were visionaries we would have jerseys like the english super league were almost every millimetre would be sponsored, and at top dollar too.

The Writting was on the wall in 2005 when we were the least supported club. Actually it was on the wall when this large taxes hit the clubs, and we should have acted then. But apprently we didn't. So yeah I think the rumour about Fitzy thinking he might have a golden parachute to Workers in wrong. But hey.

 

[MarkInTheStands]

Lets say he does, who are the candidates ? I know the obvious one.

But the Obvious one is tainted.

So maybe go with a Legend of the Club, John Kolc at the Leagues club. At the Football and NRL club, Jethro?

 

[Avenger]

But the Obvious one is tainted.

So maybe go with a Legend of the Club, John Kolc at the Leagues club. At the Football and NRL club, Jethro?

John O'Neil would be my choice. I would pay him $1 million a year.

 

[Suitman]

But the Obvious one is tainted.

So maybe go with a Legend of the Club, John Kolc at the Leagues club. At the Football and NRL club, Jethro?

Sorry, we've been down that path before.

We need a seriously professional outlook now if we want to survive - not more jobs for the boys.

Suity