:agree: I walked past them a few weeks ago. They've basically just built flats into the stands, it looks bloody weird.Quote:
Originally Posted by joe breezy
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:agree: I walked past them a few weeks ago. They've basically just built flats into the stands, it looks bloody weird.Quote:
Originally Posted by joe breezy
Has the Perrier Award been dishes out yet? If not, I think we have a winner...Quote:
Originally Posted by YehButNoBut
Not according to Jill Shedden they ain't.Quote:
Originally Posted by YehButNoBut
This is obviously where Hibs have been doing it wrong. Our stadium costs us money, but the new Hearts stadium will generate funds.Quote:
Originally Posted by YehButNoBut
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Originally Posted by YehButNoBut
That must have been written by Enid Blyton
{Sorry for the language but it's sometimes required in the face of deluded nonsense}Quote:
Originally Posted by YehButNoBut
What a load of ****ing waffle.
Don't worry Bob the men in white coats are coming for you soon. Keep calm until they arrive.Quote:
Originally Posted by YehButNoBut
That's hilarious. Well done to whoever came up with that :thumbsup:Quote:
Originally Posted by YehButNoBut
Tell me you never actually asked her if this was true...Quote:
Originally Posted by Hibby70
* I've seen some abnormal loads heading over the bridge but that'd be ridiculous
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Originally Posted by BarneyK
The thought of of dismantling the stands and re-erecting them somewhere else is just insane.
They have been up for 20 odd years and any bolt fixings will have rusted solid and you can't just cut up the various beams and weld them together again and produce a structurally safe construction.
It would cost more to move them than purpose built stands.
Their only value is in SCRAP !
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Originally Posted by greenginger
But it's made of meccano.
http://www.meccano.com/uk/
:crazy:Classic yamenomics here, they start off in debit on this "venture" so a debt fuelled start, and then they are hoping tiny just goes away or costs nothing to maintain or demolish and clear? maybe its going to generate cash and heat as a result of a timely fire.Quote:
Originally Posted by grunt
Their problem is that they have never really run the business side of a club properly within their means, so lacking the fundamentals and any restraint whatsoever they just dream up these splash the cash type ideas.
Problem here might be there's no unknowing third parties cash around to exploit and ultimately steal and hopefully public sector bodies like the council HMRC and HWU plus the charities will do a better job of making sure their cash is paid to them rather than salted off to wherever the Lith authorities ultimately show it went.
Museum !! Hahaha ! WTF would they put in it !!
Quite a lot of what might have gone in was fire sold or pillaged before the big crash and there was a story about a particular medal being stolen (which I do find despicable) so they probably won't have much authentic historical items left.Quote:
Originally Posted by Fife-Hibee
I suspect they will get by with inventing some new stuff for the new club and medals mackay should be able to help them fill a few cabinets to get them started.
War memorabilia? :aok:Quote:
Originally Posted by Fife-Hibee
Anyone who can't see this latest business plan is a wind up, is a Yam.
Long winded reply from Ian Murray...Quote:
Originally Posted by Joy Zipper
Quote:
Many thanks for taking the time to email me with regards to the position at Hearts.
Can I firstly address the point about Administration. This is a normal, but hugely regrettable, part of day to day business. We have seen it in lots of industries and sectors in recent times where companies have not been able to continue. The legal status of an administration is to allow a company in distress to find a way of continuing to trade. It is a horrible process at it tends of mean significant job losses and, as you mention, a freezing of debts owed to creditors. The only way out of administration for any business wishing to continue to trade is to be sold and, in the process, for the creditors to get all or a proportion of their debts repaid. Most administrations deliver somewhere between 6p and 20p in the £ if a creditors voluntary agreement can agreed. If an agreement cannot be reached then the company is liquidated, assets sold and that is the distributed to the creditors.
The law around administrations has been designed and developed to prevent companies from going into liquidation. In essence, an administration is the best of a bad situation in the sense that jobs and the business can be saved as opposed to it closing completely. Some of the more high profile administrations in the car industry saved the factories and the sector is now stronger than it has been in 30 years.
Superimposing this legal and business process to Hearts, however, is more complicated in the sense that the company has been badly run for some time and living well above the level of revenues that would support its expenditure. However, whilst the owner was able to service the additional expenditure it wasn't too much of a problem. Indeed, many businesses, not just football clubs, survive on the owners supporting expenditure.
On a very small scale, when I ran my own businesses, I often put my own money in to cover cash flow problems or one off expenditure. If there was no money to be able to do this my business, on occasions, would have struggled.
The important aspect is to save the club, get it on a sustainable financial footing and trade forward. This allows the ongoing bills to be paid both now and for decades to come.
In terms of the creditors list, it is actually inaccurate. I know this as I'm a Trustee of Mcraes Battalion Trust and have been for nearly 10 years. They are owed no money as is the Poppy Factory. That doesn't excuse the list but clears up some of the inaccuracies.
I think it is hugely regrettable when any business enters administration but especially in the circumstances where it was obvious it could not trade at those levels. There are legal mechanisms in place to deal with this, e.g. Directors of any business are criminally liable if they trade knowing that a business is insolvent.
The "punishment" you speak of is covered by administration and insolvency law. There is a difficulty in relaying these debts if the company trades forward as you are not, by law, allowed to give anyone preferred creditor status by paying them over another creditor.
It's a complicated legal process and I'm currently looking at the law around insolvency as it falls within my Shadow Ministerial Business portfolio in order to see how it can better protect creditors. A recent example is the demise of Comet and HMV where the law does not allow for gift card and gift vouchers to be seen as anything other than another creditor.
I hope I have provided an explanation as to the law and the process.
I agree that people lose out and this is absolutely dreadful but I hope that any administration process for any business allows jobs and businesses to be saved rather than allowing them to fall. I also hope that the creditors can be compensated in as far as possible in the CVA process.
Many thanks for getting in touch.
Maybe after another ten you'll be able to spell McCraes, farquing halfwit.Quote:
Originally Posted by Joy Zipper
Fantastic.Quote:
Originally Posted by Joy Zipper
A stronger cabinet with a decent lock?Quote:
Originally Posted by Fife-Hibee
Spin of the finest type.Quote:
Originally Posted by Joy Zipper
There was money owed, the fact it wast paid by a 3rd party doesn't change the situation as regards the creditor list.
Surely BDO would have removed them in the recently updated report if it was an error.
Just ignore the holding back of £34k to Big Hearts for a start to prop up an unstainable business has he admits.
They need a big museum for all the many big cups they've wonQuote:
Originally Posted by Fife-Hibee
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Originally Posted by greenginger
They're historic monuments, though. Those bloody stands won us the wars!
Just a tad disingenuous there, methinks.Quote:
Originally Posted by Joy Zipper
Yes, businesses go into admin every day of the week. But this was a football club that financially doped itself in order to buy success on the pitch and in the process deliberately deprived the public purse of what it was due and also gave itself an unfair advantage over all the other clubs it was competing with who did pay their bills and who did do their best to meet their legal and societal obligations.
In other words, this was no attempt to run a sound business that just ran into trouble due to the current financial and political situation but pure cheating on a grand scale. That probably qualifies as "normal" in Yam-land but not in any other area.
Still no attempt to address the underlying moral issues but rather try to sweep it all under the carpet and present HMFC as the victim.
Thanks for following that one upQuote:
Originally Posted by Joy Zipper
Sounds like he hasn't given any thought as to whether current insolvency legislation needs revisited, just happy to hide behind it
No great surprise that BDO dismissed Bob Jamieson's effort, if this alleged plan in any way resembles his proposals. Pure make-believe.Quote:
Originally Posted by steakbake
However, I wouldn't believe anything that gets posted on the Scotsman site. It's just full of bams baiting each other - fun enough if that's your thing, but that's all it is.
Not me directly, but someone i know did make her aware of it for fun rather than ask her if it was true.Quote:
Originally Posted by BarneyK
Not forgetting David Southern who told lie after blatent lie about the ****s financial status up to the last but who is seen as a fit and proper person to remain in their employ. ImanMP would need to use a lot of his soft soap to wriggle out of that one. Saying that MP's seem to have an endless supply.Quote:
Originally Posted by Springbank
Hearts DELIBERATELY robbed companies and charities alike and spent the money on chasing pipe-dreams. Truly disgusting and vile "club".
Sorted that for you.Quote:
Originally Posted by Springbank
:agree: no shameQuote:
Originally Posted by Pedantic_Hibee
Bad enough; worse, is that homfc fans looked the other way. I know we all know and/or are related to homfc fans, but collectively, the romanov years really did lower their shame threshold. ****, in other words.Quote:
Originally Posted by Pedantic_Hibee