SFM Podcast #6: Dave King & Oldco

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Is there anyone involved in the Govan imbroglio who might …

Comment on SFM Podcast #6: Dave King & Oldco by bfbpuzzled.

Is there anyone involved in the Govan imbroglio who might give experiential advice about financial crime allegations of organised crime racketeering and similar? It would be hard to believe that there would be such at a place so invested in dignity. Maybe the dignity should come with a capital letter, all that is missing here is a Swiss involvement.

The Record has gone beyond self parody and into drop the dead donkey regions of trustworthiness – if anyone regrets its passing remember today is just a wee leitmotif for all that is wrong there .

bfbpuzzled Also Commented

SFM Podcast #6: Dave King & Oldco
My generation has some apposite lyrics well sung on TV by Liam Gallagher recently ( and I never thought that I would say that being a follower of more specialised music generally)

SFM Podcast #6: Dave King & Oldco
Amortisation -until the death or we don’t do walking away

SFM Podcast #6: Dave King & Oldco
In addition to the depreciated replacement cost element, the land value is problematic. The area in which the Ibrox stadium is located has had and still has a concentration of heavy industry consequently the land is likely to be contaminated by all kinds of unpleasantness heavy metals perhap asbestos and so on. This needs to be removed before the land can be used for a new purpose. These costs would reduce the land value considerably. Additionally part of the building is listed which would lead to planning issues and other extra costs of conversion to a new use or calculation of value in use because of extra maintenance costs and other issues. There is probably asbestos in the building which makes upgrades and maintence possibly much more costly, these factors increase the depreciation element reducing value further.
It would be interesting to so the assumptions used by the valuer in reaching the book value, there may be an assumption of no asbestos or do not know about asbestos which would tend to diminish the accuracy of a value.

The two pet sayings of the valuer are; “valuation is an art not a science” and “which assumptions are to be used”. The first can be correct or it can be the fig leaf of a rogue, the second is a necessary part of the process. Valuation is sometimes the modern incarnation of haruspicy.

Recent Comments by bfbpuzzled

It Is Better To Offer No Excuse Than A Bad One
Anent the “assume the shares are worth 20p”-there is the rub. There is no market where there are sufficient trades in proper arms length transactions to come to a sensible valuation. Nor is there enough information to come to a justifiable view on underlying asset value to generate a price.
(Homunculus you will like this) I did a lot of day and short term trading in shares and bought some wild and woolly stuff including shares in property companies in emerging markets in Eastern Europe and could extract enough information not only to come to sensible views on value but to make good returns.
Even having done that, I would not have a clue on the correct value of a TRFC/RIFC share, yet every man and his dog of the blue persuasion can confidently assert that the value is not 20p but 27.5p. 
All of that is before considering the record of DCK both commercial and criminal.
What could possibly go wrong? 

It Is Better To Offer No Excuse Than A Bad One
IN addition to what Jimmy Bones said I am taken by the use of the quasi-equity chimera. I can already hear the claim that “we’re no in debt but in quasi-equity”. Equity sounds like a much more positive word than debt. Max Bialystok can be seen selling this quasi equity to the aficionados passing the ownership of the loans to them. Ridiculous, yes impossible, no.
How much value does this quasi equity hold? There is some merit in the saying that “the only way to value something is to sell it.”

I shall send a pm- but I am getting spooked by Govanhill Bedsits, Fitzgerald Lodge Management and John James as a pseudonym-things are strange enough.

It Is Better To Offer No Excuse Than A Bad One
And if someone blew up the moon there would be no more moonbeams 

It Is Better To Offer No Excuse Than A Bad One
The reference to a protruding lug is quite telling and suggests detailed knowledge. Perhaps you could complete the following litany Pat Jim Oweny…
The conversion of loans to equity wheeze is eternally puzzling. The underlying asset values are hard to pin down and many of the values attached might be described by an unkind person as specious. Looking at discounting future profits to get a value would not give positive value on any realistic assumptions.
To convert loans to bits of worthless paper seems to be the modern equivalent of Weimar Republic hyperinflation and money in barrows.
I cannot understand it 
The idea of leaving Hampden behind seems to be gaining traction the plain fact is that Murrayfield is better Stadium. Hopefuly using Murrayfield with its long history of unsegregated crowds and good humour might remove some of the more ludicrous behaviour of certain football fans.  It really is a breath of fresh air compared to some of the super partisan grounds.

It Is Better To Offer No Excuse Than A Bad One
I have a brother who was mistaken for me recently, something to do with lugs and beards-someone thought I had given up my freelance theology activities to work for a living, I near took a bad turn.
If you need any square go assistance I am quite happy to provide my bear chewing a wasp face in support as required
The umlaut is much mangled by football commentators when reading German names  Hassler for Hessler comes to mind

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