The Hotel End
March 29, 2024, 10:49:57 am
Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length
News:
 
  Home Help Search Arcade Downloads Gallery Links Staff List Calendar Login Register Chat  

Patience

Pages: 1 2 3 4 5 6 7 8 [9]   Go Down
  Print  
Author Topic: Patience  (Read 11220 times)
0 Members and 1 Guest are viewing this topic.
MD
Full Member
***
Offline Offline

Posts: 127


View Profile
Badges: (View All)
« Reply #160 on: August 07, 2015, 08:09:20 am »

It's like sitting in a full bath and taking the plug out - for a while there'll still be enough water to wash your face but that won't go on forever. Administration is putting the plug back in while there's still a little bit left to work with.

Good analogy TBananaG!

To explain simply Cobbler1991... say you borrowed £1m yesterday, £1 due for repayment today, £999,999 the week after.  You placed all of the cash on a losing bet yesterday and lost the lot.  As you stand today, you can probably afford to pay your repayment of £1 today out of your back pocket.  However unless you had some other means of believing that you would have managed to find the best part of £1m by next week, you'd be in a position where you couldnt reasonably expect to pay all your future debts as they fall due.  So even though you can afford today's repayment and are up to date on your debts, you're still technically insolvent.

Listen, I honestly don't wish to scaremonger.  The new buyers will clearly have their own financial plans, which they clearly believe will be sufficient so we must assume the same.  If the deal fails to go through, then clearly none of us know the true financial position at the club, or even how deep the Cardoza's pockets are (or their appetite) to invest futher, etc etc, so we can only speculate... however logic would suggest that administration would not be a surprising outcome should the deal fail to happen.

Report Spam   Logged
HallamCobbler
Hero Member
*****
Offline Offline

Posts: 1546


View Profile
Badges: (View All)
« Reply #161 on: August 07, 2015, 08:35:36 am »

It's like sitting in a full bath and taking the plug out - for a while there'll still be enough water to wash your face but that won't go on forever. Administration is putting the plug back in while there's still a little bit left to work with.

Thats a nice analogy, but its based on your assumptions.

I can also assume we have someone stood ready to refill the bath, even increase its water capacity and put a new plug in.
And administration will leave us with a bit left, but the new water won't be coming.

If DC wasn't selling or if it can be proven that their is no consortium, or if the takeover falls through, then yes action is needed.

For all of the name calling on here, it is sadly the case that there is enough financial information in the public domain - the loan documents, the movement of monies around First Land, liabilities on the club - that the prospect of administration remains a real one, if not a certainty. Some of the Cardoza apologists admit they haven't read the available information - if you didn't do a bit of research, you would also think the earth was flat.

You've read the financial information in the public domain, what about the information that isn't in the public domain?
People on the inside could say the EXACT same thing about you, you've taken the little information you have and made "certainties" from it, its stupid.

You call people apologists, yet you haven't bothered reading what they are writing, and then attack the same people for not reading what you want them to read.
No-one is defending DC or saying they wouldn't like him out, they are just being realistic about the situation and not hitting the panic button.

You've now stated that administration is a certainty? You really want to stand by that statement?
Report Spam   Logged
everbrite
Hero Member
*****
Offline Offline

Posts: 20217


Steve Howard best since Cliff Holton


View Profile
Badges: (View All)
20000 Posts Search Apple User
« Reply #162 on: August 07, 2015, 09:47:48 am »



Listen, I honestly don't wish to scaremonger. 


You have repeated that a few times now and imo thats exactly what you are doing.
Report Spam   Logged

2020 Grand National S/S 3rd Place
Charlatan
Hero Member
*****
Offline Offline

Posts: 681


View Profile
Badges: (View All)
Combination Topic Starter Poll Voter
« Reply #163 on: August 07, 2015, 10:03:20 am »

It's a massive issue, with the imminent possibility of administration, because the loan was to be used to create facilities - East Stand, hotel etc. - that would provide additional income streams that would service the loan. As those income streams don't exist and we were not trading at a profit level sufficient to service the loans directly, it seems almost certain that the loan capital itself is being used to service the loans. This is ultimately disastrous because, with interest, the amount to be repaid exceeds the capital sum so we will default on payments at a future point when the money runs out. As stated elsewhere, administration happens when you can no longer trade with a reasonable expectation of paying the bills. It's like sitting in a full bath and taking the plug out - for a while there'll still be enough water to wash your face but that won't go on forever. Administration is putting the plug back in while there's still a little bit left to work with.

For all of the name calling on here, it is sadly the case that there is enough financial information in the public domain - the loan documents, the movement of monies around First Land, liabilities on the club - that the prospect of administration remains a real one, if not a certainty. Some of the Cardoza apologists admit they haven't read the available information - if you didn't do a bit of research, you would also think the earth was flat.
Good post. I hope i'm wrong but i'm finding the lack of REAL info on (new) owners & what's happening RE development a real worry. I feel administration is a certainty, I really hope i'm wrong.

Report Spam   Logged
Rodney
Hero Member
*****
Offline Offline

Posts: 891



View Profile
Badges: (View All)
« Reply #164 on: August 07, 2015, 11:47:23 am »

BBC's Joe Townsend just tweeted me:

sorry I meant to reply last night! Frustratingly dead-end when trying to find anything out from council, club or chairman
Report Spam   Logged

After years of boredom, despair, resignation and misery, this is unbound joy.
MD
Full Member
***
Offline Offline

Posts: 127


View Profile
Badges: (View All)
« Reply #165 on: August 07, 2015, 12:51:43 pm »

You have repeated that a few times now and imo thats exactly what you are doing.

Not really, just would rather walk with my eyes open to an obvious risk than bury my head in the sand!  Roll Eyes

Anyway, lots of contract completions happen on a Friday, so let's hope...
Report Spam   Logged
TbananaG
Guest

Badges: (View All)
« Reply #166 on: August 08, 2015, 07:47:58 am »


You've now stated that administration is a certainty? You really want to stand by that statement?


Which is the part of "not a certainty" in my original post which leads you to think I'm saying administration is a certainty? I can write it, but I can't read it for you.
Report Spam   Logged
HallamCobbler
Hero Member
*****
Offline Offline

Posts: 1546


View Profile
Badges: (View All)
« Reply #167 on: August 08, 2015, 07:57:03 am »

Which is the part of "not a certainty" in my original post which leads you to think I'm saying administration is a certainty? I can write it, but I can't read it for you.

You may want to work on the writing part.

the prospect of administration remains a real one, if not a certainty

If you did mean its NOT a certainty, although poorly phrased it would make more sense.

It doesnt help that Charlatan also quoted you as saying you feel administration is a certainty. I assume he made an error in his post.
Report Spam   Logged
TbananaG
Guest

Badges: (View All)
« Reply #168 on: August 08, 2015, 08:00:57 am »

You may want to work on the writing part.

If you did mean its NOT a certainty, although poorly phrased it would make more sense.

It doesnt help that Charlatan also quoted you as saying you feel administration is a certainty. I assume he made an error in his post.

"Poorly phrased" - thanks, you do make me chuckle. Now, enough of this nonsense - off to get ready for Brizzle.
Report Spam   Logged
HallamCobbler
Hero Member
*****
Offline Offline

Posts: 1546


View Profile
Badges: (View All)
« Reply #169 on: August 08, 2015, 09:37:15 am »

"Poorly phrased" - thanks, you do make me chuckle. Now, enough of this nonsense - off to get ready for Brizzle.

No worries, always good to learn from your mistakes.
You were an only child right?

Just kidding, enjoy the trip and hopefully you can bring back some positivity with you from the result.
Report Spam   Logged
Charlatan
Hero Member
*****
Offline Offline

Posts: 681


View Profile
Badges: (View All)
Combination Topic Starter Poll Voter
« Reply #170 on: August 08, 2015, 13:03:35 pm »

You may want to work on the writing part.

If you did mean its NOT a certainty, although poorly phrased it would make more sense.

It doesnt help that Charlatan also quoted you as saying you feel administration is a certainty. I assume he made an error in his post.
I made an error putting my post in TBans  quote, apologies Hallam, however I did not quote TBans as him saying administration is a certainty.
Report Spam   Logged
Pages: 1 2 3 4 5 6 7 8 [9]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Parental guidance is urged as this messageboard may not be suitable for all persons especially those under the age of 16 as the forums may contain words, phrases and expressions not considered appropriate for a younger audience so please express caution. If any posts in the forums offend you, please let us know and we will look at them and if we agree with your complaint, we will remove them. You are personally responsible and potentially liable for the contents of your posting and may be sued should your posting contain content of a defamatory or other illegal nature. Every message posted leaves a traceable IP number. We check the forums at various times of the day and remove offending posts. Other supporters are welcome but abusive or silly posts will be removed and the offenders potentially barred from future access to the site. We advise that you never reveal any personal information about yourself or anyone else (for example: telephone number, home address or email address), and please do not include postal addresses of any kind. This messageboard is not endorsed or in any way affiliated with Northampton Town FC. All postings on this board become copyright of The Hotel End & may not be reproduced without the permission of the board administrator. By signing up to this message board you agree to this. The Hotel End cannot be held liable for the actions or postings of its members. The Hotel End reserve the right to edit, delete, move or close any thread for any reason. The Hotel End may disclose user information to government authorities at their discretion or when required by law. The Hotel End may also disclose user information when The Hotel End has reason to believe that someone is causing injury to or interference with its rights or property, other The Hotel End users, or anyone else that could be harmed by such activities. By registering for The Hotel End, you agree to indemnify The Hotel End its representatives, and agents, and hold them harmless from any and all claims (including claims for legal fees) which may arise from your participation on the The Hotel End. You also agree that The Hotel End is not responsible for the materials posted by users of The Hotel End. In addition, you grant The Hotel End and its affiliates, worldwide, royalty-free perpetual, irrevocable, non-exclusive right and license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display any message or content posted on The Hotel End and/or e-mail sent by you to The Hotel End (in whole or in part). The Hotel End reserves the right to make the rules up as it goes along. Thank you - The Hotel End I love Quidco
Bookmark this site!
Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy