Yet you're still here, posting.
ALL issues relating to the bond issue and club finances
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Yet you're still here, posting.
Well he did make a number of very useful posts which spelled out that Glazer wasn't in imminent danger of going bust. And I think his attitude of finding out what the position was off his own bat was commendable. Personally I think he's a bit too accepting of the status quo for a United fan but he's a football fan first and not a wanky accountant/Glazer bum suck.
I don't disagree with you on his early efforts, indeed he seems more prepared to discuss things than dismiss them.
That's the point you Ihni binni dimi diniwiny anitaime. Just because they aren't prime doesn't mean they can't make money. Malls for local people have stores for local people, like aldi for example. It doesn't make it a shit business. You are making all sorts of statements which draw conclusions that are utter bollocks. Youve damned first allied by walking through a mall and passing judgement from a position of no industry knowledge at all. Go you.
Hmm ten GCSEs A*-B and three A-Levels at A. 2:1 from Warwick and a 25k graduate scheme.
I am not an idiot. Nor did I claim to be a genius.
You're just a twat
Lol you are an utter turd.
Who says it doesnt make money? If as its stated that is one of Glazers prime real estate then that is laughable when I pointed out far better and more bigger nearby malls.
What you Glazer chumps can't accept is that you were going off on their US real estate and when perchance I happened to visit one and provided a perspective you got your nickers in a twist.
You can do some research yourself and check the stores in that mall and then compare it to nearby malls. Or even better come for a visit and see for yourself.
Damned First Allied - ohh how colourful - the fact the Glazers are having issues with some of their malls is damning enough.
I wouldn't read too much into the Glazer s' defaulting on their strip malls.
Many major US commercial realtors, like the Glazers are allowing properties to go into foreclosure even though they have plenty of cash.
It's called strategic default, they're playing hardball with creditors; 'ok you can take the property back or you can restructure my loan.'
Many major US commercial realtors, like the Glazers are allowing properties to go into foreclosure even though they have plenty of cash.
It's called strategic default, they're playing hardball with creditors; 'ok you can take the property back or you can restructure my loan.'
Perhaps you'd like to find and quote any of my posts in which I've said anything about the glazers "prime real estate". I couldn't give a feck how first allied do. It's nothing to do with united. You commenting on first allieds property portfolio because you've walked through the mall is however beyond ridiculous.
Excellent point. Not surprising that Anders ''worst case scenario'' Red didn't mention it.
Even less surprise that you didn't point it out because it's pure speculation.
GCHQ what are your qualifications or experience regarding business finance?
Plenty of cashThey have not a tosser and in trouble all over the place
You're very big on making statements of fact when you in fact have no idea whether they are true or not. United make a cash profit, the bucs make a profit and are worth about 4 times what they paid for it according to forbes. First allied is struggling but not collapsing in a time of recession when retail is hardest hit. You also have absolutely no idea what cash reserves or other investments thr glazers have. None of us do.
Kinell. You lot never speculate do you....
Chartered accountancy.
And Andersred's conclusions aren't pure speculation?
If the glazer's had any cash they would pay down the PIKs. It is absolutely tearing into the profits from the business that they own. It is all the proof you need that they are short of liquidity
And yet your work in Public Relations?
Well no actually but I did leave the profession several years ago.
2005?
If the Glazer's did have any cash, why, in your opinion do you think they would not not pay down debts that rack up credit card level apr?
Because they'd much rather refinance with new (cheaper) borrowing than put more of their own equity at risk. Clearly the credit crisis has thus far prevented them from doing so but with conditions slowly improving and with the senior bank debt now replaced with the covenant light bonds, the possibility of a refinancing of the PIK debt has greatly improved. You would imagine they'll still use cash from Red Football Limited though.
The benefit of the PIK interest charge is that it makes the Red Football structure extremely tax efficient and I'm sure it's the same for their US compaines.
It still makes no sense though however you want to spin it. Cash is worthless at the moment as you cannot get good rates even on long term fixed deposits.
I'm sure they have clever enough tax accountants in their employ to make the structure tax efficient without relying on PIKs compounding at 16.25% pa.
If they are so wealthy why are they drawing as much cash as possible out of Manchester United and gaining massive bad publicity because of that. I always assumed by what I read on here that the Buc's were suffering from a lack of cash like us I must have been wrong. Why dont the Glazers use some of the money from the lucrative Bucc's then to pay off some of the debts they have loaded on us
Anders speculated on the Bucs profitability a couple of pages ago. You were actually right in assuming that they are suffering from a lack of cash like us, you were right in as far as that neither us nor the Bucs are suffering from a lack of cash at all. One would assume then that our owners would be no more inclined to transfer cash from the Bucs to United as they would be from United to the Bucs, as each company is doing well financially completely independently of the other.
I admit that I know little about the buccs and I am about as interested as the Glazers watching us play at OT looking totally bored with their directors ties hanging round their neck. I do know about Manchester United and the club if it was owned by people who could afford or was similar to pre 2005 would make a handsome profit and be an example to all clubs
If we are doing so well why are we getting mocked by opposing fans and the press for our financial mess. Why were forced into reducing the quality of the squad last year a move that cost us major trophies perhaps. Those profits you are on about are most likely already in some Yankee bank to pay off some of the Glazers personal debt, ie the PIKs
I give up. I can't debate with you, Crerand, without someone here to help me out; the mind-numbing drudgery of your every post makes my eyes bleed; having a two-way exchange with you is like trying to teach Shakespeare to a bloody parrot.
Cider knowing you the way I do you would not be going off to hide if you were able to shoot down my arguments, just admit defeat there is no shame
I can shoot (have shot) down your arguments, but then you just make them again completely unchanged. You make the exact same post for days at a time, there's only so many times a man can reasonably be expected to reply to the same old crap over and over and over again. I could reply to your last post, but you'd then just very slightly re-word it and make it again as if i never replied to its other incarnation just two minutes previous. You can view this as some kind of victory if you like, i couldn't give a feck, i'm going to bed. Goodnight.
p.s.
The fact that your monotony annoys people doesn't prove that you're right btw, it proves only that you're boring.
Goodnight
p.s.
The fact that your monotony annoys people doesn't prove that you're right btw, it proves only that you're boring.
Goodnight
Just admit I am probably right that will do, if you could shoot me down Cider you know damn well you wouldn't be going to bed, but any how enjoy your rest and I assure I will still be in the same frame of mind tomorrow, see you then
Why do you always let yourself down by petty name calling it is so schoolyard
Can't be arsed looking back through this thread but is GCHQ arguing that hike in the level of interest on the PIKs resulting from the Glazers failing to meet the financial targets set by theit creditors part of their masterplan?
Obviously failing to pay the mortgages on their malls is another cunning strategy - that should go without saying, financial geniuses that they are.
Obviously failing to pay the mortgages on their malls is another cunning strategy - that should go without saying, financial geniuses that they are.
That would be the height of it, he is getting Alistair Campbell's job if Labour ever gets back to power
Cheers Peter!
As for accepting the status quo, at the moment I do not see any viable alternative - if I saw another option that I thought was better than what we have then I would support it.
Now if you had a Blue Peter badge then I would really be impressed.
A perfect example of your complete inability to read another's post and reply in relevance to it.
I'm using the ignore feature on you now.
Inability to reply to posts is something you have been suffering badly from your self Cider, talk to you when you take me off ignore
He can't hear you.
The truth hurt him badly
Or he was fed up of listening to opinion declared as fact. One or the other.
Fed up being made like a fool perhaps, need you to to do his talking for him?. He was made look foolish that is his problem but if you cant stand the heat then get out of the kitchen, he has wisely done that. BTW this thread is not about Cider can we get back to topic
A clever move by our owners, but not a game changing one, turns out they bought in 20% of the PIKs back in 2008.
Manchester United's Owners Said to Have Bought Back 20% of Own Loan - Bloomberg
My thoughts for those who can be arsed:
the andersred blog: A smart trade by the Glazers but a massive PIK burden remains
Manchester United's Owners Said to Have Bought Back 20% of Own Loan - Bloomberg
My thoughts for those who can be arsed:
the andersred blog: A smart trade by the Glazers but a massive PIK burden remains
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