What to do with Level 3 - Parramatta Leagues Club

[bartman]

Depreciation of assets you usually can see coming... because it's a "fictitious expense" (on paper only) - entriely predicatble and factored into budgets by your accountant/financial controller.

 

[bartman]

Unless you/Ovo are just talking about the value of assets going down, due to the economic conditions? But in that case the property boom was bound to end, and should have also been factored into budgets in terms of less expectation on returns...

 

[Suitman]

They lost money because of the depreciation of assets and increase in pokie tax - neither of which could be seen coming and neither of which could be buffered against.

3P may very well have the proverbial ace up their sleeve. They just haven't shown it yet

:lol::lol::lol:

The Pokie Tax couldn't be seen coming?? :lol:

It was legislation 3 years earlier.

Couldn't be buffered against?? :lol: (damn, I've run out of smilies)

Suity

 

[TheRam]

They lost money because of the depreciation of assets and increase in pokie tax - neither of which could be seen coming and neither of which could be buffered against.

Not true, and misrepresentation by omission in your statements HJ. ;-)

 

[parra pete]

I have just received a notification that I have been lucky..Picking up $10 million from a Microsoft Lotto win, plus $5 million in gold bullion from Iraq, that Saddam had hidden.
All I have to do is send over my bank details etc...
When it goes in, I'll provide ALL the money to fix up Level 3..obligation free...

 

[Hellsy]

Can I ask you invest in my company with some of your winnings?? :lol: :lol: :lol:

 

[Parra]

I was in the Reno garden this arvo. "Outdoors" my arse. But it's a nice space.

 

[Stagger eel]

I have just received a notification that I have been lucky..Picking up $10 million from a Microsoft Lotto win, plus $5 million in gold bullion from Iraq, that Saddam had hidden.
All I have to do is send over my bank details etc...
When it goes in, I'll provide ALL the money to fix up Level 3..obligation free...

you're such a tease Pete..you'll spend money on the best lawyer money can buy to represent young Joel Thompson won't you? ;-)

 

[bartman]

Unfortunately I doubt I'll ever set foot in the Reno Garden. As an LC member, unfortunately it simply does not hold anything that interests me - pokies and smokers?

I look forward to the next facility upgrade having something for the rest of us members... like any of the ideas in this thread for better use of the 3rd floor.

 

[Parra]

Tingha Palace is the best place in Parra for lunch as well. That was the purpose of the visit - but I had to check out the Reno Garden. It is impressive.

 

[scottyeel]

you're such a tease Pete..you'll spend money on the best lawyer money can buy to represent young Joel Thompson won't you? ;-)

Why waste money on a pisshead who turns violent on the grog. The game is better off without these types.

 

[Stagger eel]

The Pokie Tax couldn't be seen coming?? :lol:

It was legislation 3 years earlier.

Couldn't be buffered against?? :lol: (damn, I've run out of smilies)

Suity

actually, the pokie tax should of been buffered against, however I think they severely underestimated the impact, but the additional problem which I believe has been like a bullet between the eyes has been the smoking laws at registered clubs.

but in saying all that, they really should have had contingiency plan in place to counter the problem...

I'll have sweet and sour pork, a sechuen beef and fried rice....;-)

 

[Stagger eel]

Tingha Palace is the best place in Parra for lunch as well. That was the purpose of the visit - but I had to check out the Reno Garden. It is impressive.

any room for an aftermatch function???

 

[Parra]

any room for an aftermatch function???

That'd be the floor above.

Tingha Palace is the best thing to happen to the leagues club in years.

Yum cha every day - and it's not your run of the mill chinese restaurant.

If you don't like that there is always cafe 88. Seems to do a decent trade as well. There is nothing wrong with that level of the club.

 

[Stagger eel]

That'd be the floor above.

Tingha Palace is the best thing to happen to the leagues club in years.

Yum cha every day - and it's not your run of the mill chinese restaurant.

If you don't like that there is always cafe 88. Seems to do a decent trade as well. There is nothing wrong with that level of the club.

yeah! I know mate..;-)

great to see that you like it, i should check out the Palace soon.

meanwhile, there's a third level that isn't doing a great deal at the moment.

 

[spiderdan]

in relation to the leagues club itself, i don't think a massive amount can be done to make back the extra money the club is losing through the increased pokie tax, pokie restrictions and smoking laws. i say that purely because of the geographical location of the club compared to the hub (i'll call it that for the purposes of this post) of parramatta. that's not to say the club can't be improved to make more money. as a start i'd be looking at increasing the price of each drink incrementally by 10c - 20c over the next 12 months. ditto for every meal. this may not sound like much (though from saturday i got the impression hj will cry blue murder) but i use the example of american airlines in 1987. they used one less olive in every caesar salad and saved $40k that year. it was such a small thing that no-one noticed but it still made the organisation a financial benefit. not massive, but it is a start.

i think the club should be looking at setting up ventures closer to the hub. it was posted by a few that the nightclub in the lc should be tried again. i actually think a nightclub could be a good idea but not in the lc. it should be in that hub area. ditto for any new specailised style restaurants or cafes the club was thinking about opening. having a parking lot right outside the club helps get patrons in (this was mentioned at the last meeting) but it doesn't cash in on all the people that don't want to go out of their way to go places.

the club could also try investing in ventures that capitalised on other businesses patronage. i have one concept that i have seen used to great success by an old acquaintece of mine but i don't want to post on here. col, if you want the idea feel free to pm me.

bottom line though, the fc needs to establish financial independence (as a few of us have stated) over the next five years to take the pressure off the lc's finances. this wont happen though unless the fc get some control over the nrl team. i can't see too many sponsors getting involved with our lower grades and feeder clubs as they would with the nrl side, not to the same magnitude anyway.

 

[parra pete]

Can I ask you invest in my company with some of your winnings?? :lol: :lol: :lol:

Would love too Helen. But you may get lucky. Some Nigerian Bank is looking for someone to help it out also. Sssssh.
We seem to lose track of the people who are hurting out there. Was talking to Elsie at our local shop and she told me apparently there has been some good corporate interest in the Company. Keeping our fingers crossed for you and your workmates.
It will be devastating for this little town too if you Company hits the wall... Its a great shop, I love it...

 

[Hollywood Jesus]

actually, the pokie tax should of been buffered against, however I think they severely underestimated the impact, but the additional problem which I believe has been like a bullet between the eyes has been the smoking laws at registered clubs.

This is more what I meant. I'm not turning around and saying everything has gone swell, and I understand that sitting on one's hands is not exactly a great way to go, but does anyone actually think that the current Board saw a $6mil loss coming and just let it happen with a smile on their faces?

 

[Parra Future]

Depreciation of assets you usually can see coming... because it's a "fictitious expense" (on paper only) - entriely predicatble and factored into budgets by your accountant/financial controller.

Bingo. You said it.

 

[Hollywood Jesus]

i say that purely because of the geographical location of the club compared to the hub (i'll call it that for the purposes of this post) of parramatta.

I raised this point last Saturday and got zero response. It was as if me bringing up a reason why changes might not automatically and magically work was akin to heresy.