potty trained Posted September 20, 2015 Report Share Posted September 20, 2015 I would have thought a conversion to long term debt makes sense at current rates. Unless you have cash to pay it off or are expecting a windfall are a dramatic upturn in revenue. You could argue that it's about stabilising outgoings. Use your own household finances as an example. I use an overdraft and would never go near a loan again. Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted September 20, 2015 Report Share Posted September 20, 2015 It will be interest to see in the next accounts how much is owed to the directors or any of their businesses. What would concern me would be if they were looking for repayment and the club couldn't meet that. Also it is possible any money received from sale of Jack Henry has gone to repay any of the aforementioned. All will be revealed in due course once accounts are filed. Even if we received (or are due) circa £200K for Hendry that may for all I know replace monies from missing home fans last season. Similar to the Harkins/Twaddle sales it may be seen as necessity and not as a bonus. Quote Link to comment Share on other sites More sharing options...
La Scimmia Rossa Posted September 20, 2015 Report Share Posted September 20, 2015 I use an overdraft and would never go near a loan again. And when the bank called in your overdraft, you'd better have the money to pay it back... Quote Link to comment Share on other sites More sharing options...
La Scimmia Rossa Posted September 20, 2015 Report Share Posted September 20, 2015 We have to assume that at some point, the academy will yield success. This could be 2-3 seasons away. That's why survival is important. That money can then be used to pay down debt/increase budget. It's a gamble. Or you could take the hit, get relegated, play the young guys, sell a few, keep your fingers crossed we find a team. It's a gamble. In short, we need a bit of luck imo. Quote Link to comment Share on other sites More sharing options...
potty trained Posted September 20, 2015 Report Share Posted September 20, 2015 And when the bank called in your overdraft, you'd better have the money to pay it back... Thankfully, I do. It's dipped into and paid back on a regular basis but there for an emergency. Which is kind of what I would hope the club have. Quote Link to comment Share on other sites More sharing options...
Big Col Posted September 20, 2015 Report Share Posted September 20, 2015 As another poster said, the current situation was sadly all too predictable and imo it started with a poor end to last season. I just can't see us getting out of this unless changes are made. Quote Link to comment Share on other sites More sharing options...
La Scimmia Rossa Posted September 20, 2015 Report Share Posted September 20, 2015 Thankfully, I do. It's dipped into and paid back on a regular basis but there for an emergency. Which is kind of what I would hope the club have. They will have. "Your"overdraft only covers you for emergencies. If you need work done, a new car, a new tv you'll either need to save up. Or borrow the money. Let's hope your car doesn't pack in. Or your boiler go on the blink or your utility player is out for 20 weeks... Quote Link to comment Share on other sites More sharing options...
potty trained Posted September 20, 2015 Report Share Posted September 20, 2015 They will have. "Your"overdraft only covers you for emergencies. If you need work done, a new car, a new tv you'll either need to save up. Or borrow the money. Let's hope your car doesn't pack in. Or your boiler go on the blink or your utility player is out for 20 weeks... Let's hope they do. It would be pretty foolish to close your overdraft facility for the sake of a quick fix lump sum. I'll wait for Jenny's reply to expand in what he meant. Quote Link to comment Share on other sites More sharing options...
Lindau Posted September 20, 2015 Report Share Posted September 20, 2015 As another poster said, the current situation was sadly all too predictable and imo it started with a poor end to last season. Do you mean our two defeats in our last 10 games? Quote Link to comment Share on other sites More sharing options...
Big Col Posted September 20, 2015 Report Share Posted September 20, 2015 Failure to win the last 3 games and the standard of our play towards the end. Quote Link to comment Share on other sites More sharing options...
La Scimmia Rossa Posted September 20, 2015 Report Share Posted September 20, 2015 Let's hope they do. It would be pretty foolish to close your overdraft facility for the sake of a quick fix lump sum. I'll wait for Jenny's reply to expand in what he meant. There's no chance the club has got rid of it's short term facility. It couldnt operate without one. Quote Link to comment Share on other sites More sharing options...
Lindau Posted September 20, 2015 Report Share Posted September 20, 2015 Only real bad defeat was the Killie game and I blame Beaton for that more than anything else. One defeat in the last 3 games and 2 defeats in the last 10. Jeez BC, most of us would crawl over hot coals to get consistency like that just now! Quote Link to comment Share on other sites More sharing options...
potty trained Posted September 20, 2015 Report Share Posted September 20, 2015 There's no chance the club has got rid of it's short term facility. It couldnt operate without one. Totally agree, hence why I asked Kenny for clarity. Quote Link to comment Share on other sites More sharing options...
ChewinGumMacaroonBaaaz Posted September 20, 2015 Report Share Posted September 20, 2015 How long should his achievements be used as his defence? Genuine question. Considerably longer than 8 games played, 8 points off 6 place and 90 points to play for. 1 Quote Link to comment Share on other sites More sharing options...
kennymac29 Posted September 20, 2015 Report Share Posted September 20, 2015 Hi guys, sorry for the delay. Can someone send me the 2015 accounts? they were signed off at the end of june however i cant seem to get them online. The 2014 accounts show that the club restructured its debt from a short term bank overdraft to a long term loan. Note 4 shows the interest payable which was still high in 2014 however i assume the loan was taken out near the year end and therefore the interest savings werent realised yet. The obvious reasons for this are interest cost savings, or an improved liquidity position making the club more attractive for potential investors, suppliers etc. I suspect the real reason are the interest costs The problem is that, as PT and others point out, you cant see whether the overdraft facility is available or not. Only that the club, as at 2014, werent using it due to the loan funds still being unspent. I cant seem them not having an emergency facility in place given how tight out annual surplus/deficit is. As everyone reading this probably know the overdraft rates are expensive and if the club have an emergency facility it will be sky high. The one thing that did worry me was the staff costs which double despite the fact that staff numbers remained the same (note 2). Be great if someone could send me the latest account and i could spend a couple of hours (hangover free) to properly look them over. 1 Quote Link to comment Share on other sites More sharing options...
ChewinGumMacaroonBaaaz Posted September 20, 2015 Report Share Posted September 20, 2015 Why? You're using it to defend him. It's fair enough for now, but when do you consider it an appropriate time to quit making references to past achievements? Unless you think the past two-and-a-half seasons guarantees him a job for life. No job for life. But certainly respect forever and patience for the man who guided us to 8th, our highest finish in many years, with little cash and many doubters only 8 league games ago. He may just be our best bet for survival, in a season which is arguably tougher than the last both on and off the field. Sometimes, familiarity leads to a dampening of innovation and a pessimistic atitude to experimentation. A new manager may bring new ideas and inspire some to greater things.... The question for anyone suggesting a change of management must answer is, who would you put your money on? A genuine question. Answer it, or the suggestion archie's time has come is utterly moot. Quote Link to comment Share on other sites More sharing options...
Big Col Posted September 20, 2015 Report Share Posted September 20, 2015 Have you seen any signs of progress or improvement over our 9 competitive games this season? Quote Link to comment Share on other sites More sharing options...
The Cup Posted September 20, 2015 Report Share Posted September 20, 2015 Danny Lennon on the face of it would do a better job than Archibald. But, looking at the way we are playing so would Ally McCoist. Quote Link to comment Share on other sites More sharing options...
Garscube Road End Posted September 20, 2015 Report Share Posted September 20, 2015 Danny Lennon on the face of it would do a better job than Archibald. But, looking at the way we are playing so would Ally McCoist. And yet McCoist couldn't hack it with a £70 million squad in the Championsip? Aye right! Quote Link to comment Share on other sites More sharing options...
La Scimmia Rossa Posted September 20, 2015 Report Share Posted September 20, 2015 Considerably longer than 8 games played, 8 points off 6 place and 90 points to play for. Yup. Quote Link to comment Share on other sites More sharing options...
Dark Passenger Posted September 20, 2015 Report Share Posted September 20, 2015 A genuine question. Answer it, or the suggestion archie's time has come is utterly moot. A suggestion I haven't actually made... Quote Link to comment Share on other sites More sharing options...
Big Col Posted September 20, 2015 Report Share Posted September 20, 2015 90 points to play for. But don't forget that we're not expected to challenge either Celtic or Aberdeen so take 12 points off that. Quote Link to comment Share on other sites More sharing options...
potty trained Posted September 20, 2015 Report Share Posted September 20, 2015 Hi guys, sorry for the delay. Can someone send me the 2015 accounts? they were signed off at the end of june however i cant seem to get them online. The 2014 accounts show that the club restructured its debt from a short term bank overdraft to a long term loan. Note 4 shows the interest payable which was still high in 2014 however i assume the loan was taken out near the year end and therefore the interest savings werent realised yet. The obvious reasons for this are interest cost savings, or an improved liquidity position making the club more attractive for potential investors, suppliers etc. I suspect the real reason are the interest costs The problem is that, as PT and others point out, you cant see whether the overdraft facility is available or not. Only that the club, as at 2014, werent using it due to the loan funds still being unspent. I cant seem them not having an emergency facility in place given how tight out annual surplus/deficit is. As everyone reading this probably know the overdraft rates are expensive and if the club have an emergency facility it will be sky high. The one thing that did worry me was the staff costs which double despite the fact that staff numbers remained the same (note 2). Be great if someone could send me the latest account and i could spend a couple of hours (hangover free) to properly look them over. Thanks Kenny. Is an emergency facility at the discretion of the bank, with, as you say interest rates, sky high? I wouldn't think the 2015 accounts will be published until the Agm which last year was in October. Do the accounts define non football and football expenditure when it comes to staff numbers and wages etc? Whilst St Mirren for example separate them, I'm sure Thistle lump everything into a generalised basket. Quote Link to comment Share on other sites More sharing options...
ChewinGumMacaroonBaaaz Posted September 20, 2015 Report Share Posted September 20, 2015 My view, in short, is ... Can't argue results are poor. Performance is not great. There are glimmers of good play but we struggle to sustain it for 90 mins. And goals oblviously a problem. However, we have been competitive. Others are not all that much better. Teams are "digging out results" against us. County yesterday, dundee, killie, hamilton, ICT, all games where our lack of cutting edge was as contibutive to our defet as being "out-classed" by opposition. In mitigation, we've had an unsettled team. Having little cash to spend does not just affect our ability to get the players we want but also when we can secure them and settle them into our squad. Defensively, over the past 8 games we've had 2 sent off, a potential starter leave for Wigan, a potential starter out with injury, two new additions fighting for right back, Booth is the only player to start all 8 league games. Midfield, very unsettled. Numerous combinations, but plenty of capable personel. Not helped with injury, but Archie needs to find his strongest and fast. Of course there is arguement for "horses for courses" but we still have some players who seem to be seen almost as utility playes who I think would perform better given a stable position even if not played every week. Up front... we starte the first 3 games with three different forwards. We've still to see how Pogba will do. Dools needs better support from what can be a hesitant mid-field. Stevo is no replacement for dools. Anyhoo... i still think Archie can turn it around... Of course it will be tough... and it is not certain.... ideally this kind of thing should be sorted pre season.... but it's another reality of being skint. Results are what matters. A team can play well and get relegated. I'm gutted at the results so far. I just do not think all is lost yet. Higgy foxy ats o'donnel et al ... did not keep us up by themselves. We still have the makings of a decent team, and a manager who has never been relegated. Quote Link to comment Share on other sites More sharing options...
ChewinGumMacaroonBaaaz Posted September 20, 2015 Report Share Posted September 20, 2015 But don't forget that we're not expected to challenge either Celtic or Aberdeen so take 12 points off that. No... we're not expected to ... but we lost the first goal to Aberdeen through a dodgy penalty.... we had more shots and corners according to the BBC.... i think we competed respectably well against them .. i think we are capable of getting poinst of them. ..... And celtic...... They're pish! Quote Link to comment Share on other sites More sharing options...
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