Yam accounts

[zitelli62]

Who cares we've got Ron Gordon I think in time he will prove to be a great owner.

[green day]

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I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????

Maybe anonymous, not so much invisible?

[Since90+2]

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She also had remuneration for many years as owner and then chief executive. That would be at least a big six figure sum for those years.

I don't thinks she takes a salary does she?

[FilipinoHibs]

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I don't thinks she takes a salary does she?

Talking about her time with her IT company.

[CMurdoch]

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Couldn’t really care less about them or how their finances are tbh.

We need them and they need us. No hatred, just a healthy rivalry. I don’t want to see them in any financial trouble and I’d hate to see them relegated.
Without an Edinburgh derby, we have very little to look forward to.

I don’t even mind some of their supporters. I have a healthy banter with many of them that I consider to be good friends.

Lots of sense in this post.
Their new stand has been money well spent. Simply had to build it.
Where they have wasted a fortune has been numerous player contracts handed out by 2 poor managers for little return.
Had they kept Nielson in charge and got rid of the director of football instead they would be in a much better position financially.

Lucky for them the FOH money will keep rolling in well after the donations dry up.
However, they need the right manager and would suggest that all the current candidates are not that person. I would have been horrified had any of them been signed up by Hibs instead of Jack Ross (best signing we could have managed and completed in less than 2 weeks!). If they get this wrong they will continue to waste money and under perform for the level of money spent but they are stable financially.

[WhileTheChief..]

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That was all dismissed before. Baillie Gifford predominately recruits for senior positions from the upper middle classes who are more inclined to Rugby. Secondly, those donations would be a significant portion of any bonuses. To me it has to be Queen B to keep Hearts going and FOH money flowing in to ensure she gets her dough back. Plus there probably is a bit of face saving going on in her part. If you add up all the anonymous donations they are in the £20+ million range. That I think rules out Baillie Gifford or the Roseberry estate. The question I always ask on this is where was this money when Hearts needed saved. To me this points to Queen Bee as the source of the funds. She can use a Special purpose vehicle to hide where the money came from. The old adage you can make a small fortune out of football club ownership but you have to start with a large or medium sized fortune.

Where do you get these weird ideas from? Same as your generalisations about all American businessmen?

[Wembley67]

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Where do you get these weird ideas from? Same as your generalisations about all American businessmen?

Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

[Steve88]

Couldn't care. Lets just finish above them!!

[Davy Mac]

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Thought the Rockstar where sympathetic to Hibs why all the references to Leith and good gang in green.

They were founded in Dundee from people born there. Highly unlikely to be Hearts fans.

Is this a wind up or a bit of trolling?

What do you mean trolling? Gies a break FFS

[CMurdoch]

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Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

that puts that particular rave firmly in the box

[Wembley67]

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that puts that particular rave firmly in the box

???

[tamig]

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Lots of sense in this post.
Their new stand has been money well spent. Simply had to build it.
Where they have wasted a fortune has been numerous player contracts handed out by 2 poor managers for little return.
Had they kept Nielson in charge and got rid of the director of football instead they would be in a much better position financially.

Lucky for them the FOH money will keep rolling in well after the donations dry up.
However, they need the right manager and would suggest that all the current candidates are not that person. I would have been horrified had any of them been signed up by Hibs instead of Jack Ross (best signing we could have managed and completed in less than 2 weeks!). If they get this wrong they will continue to waste money and under perform for the level of money spent but they are stable financially.

I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

[Bostonhibby]

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I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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[jacomo]

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I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

Not only have they spent a load of money on it but it’s awful - ugly, tethered to the decaying other stands and of course not quite as BIG as they would have hoped.

The project is an absolute disaster.

[Eyrie]

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Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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You make it sound like an IT contract

[FilipinoHibs]

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Exactly, it's poppycock. I'm well placed to comment as I've worked at Baillie Gifford for over 20 years! They recruit due to a proven track record like all good employers do.

At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

[Wembley67]

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At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

I'm not going to argue with you on this. I know the structure and know the staff well, what you say may very well have happened but generally it's based on track record. They clearly know what they are doing with their performance history so who are we to say anything 😁

Ps glass door reviews are generally written by students on summer placement for 2 months

I actually just read that link and I can guarantee that is not true. We have never had as many female partners as we do now, with also many as Directors of the firm. Also that was a very selective link to put in.

[cocteautwin]

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Money... .. and. .... spent.

Not finished yet but there's nothing like it. Contractors dream.


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It’s an ongoing dream for the Budge family member. They’ve raked in £6m+ so far which is more than Hibs spent on the entire East stand. Not bad work for a lick of paint and a few logo transfers.


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[CMurdoch]

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???

not often that someone is on hand to refute a statement made on here from such a position of knowledge i.e. your 20 plus years at the company concerned.

[CMurdoch]

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I think your comment on the stand is questionable. I’m sure that stand - with the same facilities - could have been delivered on time and at a fraction of the cost had the project been managed in even a half decent manner. They have wasted a load of cash on it.

The stand will serve them for many many years but the vast amount of money spent on the wages for large numbers of poor players and management was and is still being pissed down the drain by them for little return. Trying to put their new stand up too quickly resulted in them making mistakes and wasting money but that will be forgotten in time (other than by folk on here obviously). I thought they should have moved to Murrayfield for the first half of the season but that would have had cost implications for them as well. They tried to cut corners and built in little contingency to their building timetable and it cost them.

[FilipinoHibs]

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not often that someone is on hand to refute a statement made on here from such a position of knowledge i.e. your 20 plus years at the company concerned.

I have 35 years in the industry. I have worked with Baillie Gifford many times. I have given two personal experiences of recruitment by them at a senior level. I have also had contact with many partners there. They typically come from the same milieu of privately educated, top universities and male. If you examine the partner list that is what the major of their backgrounds are like. They are unlikely to be football fans or willing to part with a significant portion of their bonuses to give anonymously to Hearts with no control over how the money us spent.

The reviewer had more than 1 year's experience at Baillie Gifford. Look across all the reviews for the company and you will get a similar them of a posh non diversified partnership with unequal income and bonus distribution.

[Chuck Rhoades]

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At the lower levels that may be the case. But at the higher levels and those likely to be partners who have the money to make large donations that is not the case. I had a friend who had an excellent track record in Scotland and London and did not even get a reply to an application. He went on to be a director at one of the major global investment houses. I know of another who was hired and at best competent but comes from an upper class family with large business interests and was hired. Baillie Giffird is an old school investment company both in style and those at the top.

Here is an insider's view:
https://www.glassdoor.com/Reviews/Employee-Review-Baillie-Gifford-RVW6330365.htm

Thanks for the story. Remind me of what relevance it has to the subject matter please?

[FilipinoHibs]

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Thanks for the story. Remind me of what relevance it has to the subject matter please?

It is refuting the story that Baillie Gifford partners are the anonymous Hearts donors.

[NAE NOOKIE]

The bottom line here is that year on year Hearts keep the accounts balanced, even in minor profit, thanks to 'donations' from undisclosed sources. There's nothing wrong with that on the face of it, any club would be mental to turn down free money ... but how long can that situation continue? If and when these 'donations' end what then? ... Because clearly they are not generating enough income from football, commercial sources and FOH to sustain even the way they are being run just now and the lack of success that has brought them. As another poster said, a fair case can be made that Hearts are more a charity case than a well run business.

As for the new stand .... If you ask me its a project the end result of which Hearts will live to regret. The vanity of believing your own publicity vis a vis their alleged 'unique atmosphere' led them to build a stand of far less capacity than they could have had in order to keep the claustrophobic feel of the stadium ... I'm willing to guess that for less money than they have spent they could have had a two tier stand with an 8000 capacity and at the end of the day no amount of corporate can bring in the same amount of money as bums on seats.

In context: Aberdeen are in the process of planning a brand new 20,000 capacity stadium and their own state of the art training facility for 50 million quid, which puts into perspective what Hearts have got for half that and counting.

[Springbank]

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The bottom line here is that year on year Hearts keep the accounts balanced, even in minor profit, thanks to 'donations' from undisclosed sources. There's nothing wrong with that on the face of it, any club would be mental to turn down free money ... but how long can that situation continue? If and when these 'donations' end what then? ... Because clearly they are not generating enough income from football, commercial sources and FOH to sustain even the way they are being run just now and the lack of success that has brought them. As another poster said, a fair case can be made that Hearts are more a charity case than a well run business.

As for the new stand .... If you ask me its a project the end result of which Hearts will live to regret. The vanity of believing your own publicity vis a vis their alleged 'unique atmosphere' led them to build a stand of far less capacity than they could have had in order to keep the claustrophobic feel of the stadium ... I'm willing to guess that for less money than they have spent they could have had a two tier stand with an 8000 capacity and at the end of the day no amount of corporate can bring in the same amount of money as bums on seats.

In context: Aberdeen are in the process of planning a brand new 20,000 capacity stadium and their own state of the art training facility for 50 million quid, which puts into perspective what Hearts have got for half that and counting.

Agreed.

Like you there are 2 comments on this page of the thread that I've been surprised to see...

1) hearts stand is value for money (I think the *idea* of a stand was good but not the one they built)
And
2) that their stand will serve them well for years to come.

I doubt it will be cause of the fact it is tethered to those other 3 stands, effectively making it an expensive adjunct of an ageing decaying structure
My hunch is by 2025 the remedial work on the other 3 stands will make their new stand look like a bad call, and an expensive one

[BILLYHIBS]

Might be starting to look a bit neglected but I love our stadium

Much better than the PBS and debt free

Cannae beat a full Easter Road under the lights

[ancient hibee]

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It is refuting the story that Baillie Gifford partners are the anonymous Hearts donors.

It’s not refuting anything.It’s giving your opinion on the type of person that runs Baillie Gifford.

[HUTCHYHIBBY]

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I read through the week that if they were to go for Robinson, the money for his services and payment to Motherwell would be covered by an invisible investor????

I cannae see it! 😉

[May21/05/16]

Jk Rowlings husband

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[Since452]

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Might be starting to look a bit neglected but I love our stadium

Much better than the PBS and debt free

Cannae beat a full Easter Road under the lights

Yup. They could only dream of having a stadium as good as Easter Road