Podcast Episode 3 – David Low

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Barcabhoy says: April 9, 2014 at 11:37 pm As i …

Comment on Podcast Episode 3 – David Low by beanos.

Barcabhoy says:
April 9, 2014 at 11:37 pm

As i said, I haven’t seen the accounts but if that is the information in them then that is damning. There should have been a warning far earlier.

I’m glad we agree that there is no chance of the sponsoring employer meeting obligations and that the asset disposals benefit the Murray family and the bank over the scheme members.

beanos Also Commented

Podcast Episode 3 – David Low
Sumproduct, thanks for pointing that one out. Worthington and paticularly the Jerome Group pension scheme are an area of fascination to me. The scheme was in deficit enough even before the ill advised ‘investment’ in a football club. Would have loved to be a fly on the wall in the dicussions with the trustees and the regulator. The trustees have some serious questions to answer.


Podcast Episode 3 – David Low
Night Terror says:
April 28, 2014 at 10:57 am
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Seems bizarre that the first CEO of the Ibrox Club to get a hard time from the press and support before presiding over a fiscal mishap is the one who seems to have a clue how to run a business.

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maybe………..but the devil is in the detail.

what has been released would have taken 120 minutes to conclude nevermind 120 days. what detail of the bad contracts and financiall management exists in the full report?

some of the stuff is so obvious (income nowhere near outgoings) that any decent executive would have already been taking steps to sort out whether the 120 day review is ongoing or not. The timing of it to end around season ticket renewal time is highly suspicious.


Podcast Episode 3 – David Low
lets face it, the price paid for the assets far better reflects their true value than the nonsense in the accounts. new club, old tricks, this is the only way to prevent them from being balance sheet insolvent.


Recent Comments by beanos

Look Back to Look Forward
as Neepheid says, Law Financial / Worthington have no cash at all. The spurious £10m revaluation of Law Financial was used to cause a spike in the share price and allow Whyte and Earley controlled vehicles to dump a lot of their shares.
Worthington has impressively managed to pass over a year in suspension with accounts well overdue.


Two wrongs and a right
This company must have some of highest legal and pr fees in it’s sector. Nothing that they spend money on is adding any value to the business. The whole company is geared towards presenting a positive impression to it’s customers in the face of damning evidence.
All of the warning signs have been there for some time for those willing to look. more come out by the day.
Paying off the Ashley loan must be for the securities. I’m not sure what the next step is but it is very difficult to see the company staying solvent for the calendar year.
More of the customers are starting to come around to the reality. it can’t be long before it all goes pear shaped. the tipping point could be if players move on in the window and are not replaced. Even the customers who don’t pay attention to the bigger picture will be unsatisfied with the product.
How long can a company with no credit line, ill regard to its customers, an annual deficit of circa 8-10m and a raft of legal cases to come last?
JJ’s blog is interesting but I’m not sure I buy into the notion that he’s just another supporter with a blog. I remember his posts on the lse forum while RIFC were still listed. He definitely had an anti King / Pro Ashley agenda and pursued it quite aggressively. he seems to get early access to information from the Ashley camp in the same way that Phil Mac does. He doesn’t state that he has a source but he is definitely getting info before it is public. it also looks like the blog is a full time job for him just now.


Did Stewart Regan Ken Then Wit We Ken Noo?
AIM are not thorough in dealing with anything. there are far bigger frauds than RIFC listed on there.

Complaining to AIM won’t get anyone anywhere.

they don’t call i a casino for nothing!


Did Stewart Regan Ken Then Wit We Ken Noo?
tykebhoy says:
March 30, 2015 at 3:35 pm
mcfc says:
March 30, 2015 at 2:16 pm
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I’ll have you know I’m already here. I’ve been posting on the LSE site for a couple of months trying to throw a spanner in the works of and rain on the triumphalist parade of the pro king lobby led by Cambridgeblue. I’ve been a little mischievous in pointing out some inconveneient facts for them.

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cambridgeblue and stuzeeuk are hilarious. they have to be most obvious DK/ level 5 plants you’ve ever seen.

are you posting as sitonfence over there?


Did Stewart Regan Ken Then Wit We Ken Noo?
mcfc says:
March 30, 2015 at 2:16 pm
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i like Tom Winnifith’s description of that lse forum as the ‘asylum’. very appropriate. It is infested with posters who clearly have vested interests. their arguments would be torn down in seconds over here.

the RFC and WRN boards have particularly high levels of comedy.


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