jambos are go! Posted July 8, 2008 Share Posted July 8, 2008 Given the latest ?12 million cash injection do some folk out there still think that VR has a hidden agenda to recover all of his investments plus a healthy profit though the sale of the Tynecastle site plus players? I dont - never did. There may be grounds for criticism and he may make the entire Macleod Street development profitable but lets bin the asset stripping myth. Link to comment Share on other sites More sharing options...
redm Posted July 8, 2008 Share Posted July 8, 2008 Not being funny, but I thought it was only our bohemian, warrior poet chums from Leith who championed that particular theory? Link to comment Share on other sites More sharing options...
Chad Sexington Posted July 8, 2008 Share Posted July 8, 2008 I've never considered him an asset stripper. An incompetent, egotistical buffoon maybe, but not an asset stripper. Link to comment Share on other sites More sharing options...
JamboGuy Posted July 8, 2008 Share Posted July 8, 2008 Given the latest ?12 million cash injection do some folk out there still think that VR has a hidden agenda to recover all of his investments plus a healthy profit though the sale of the Tynecastle site plus players? I dont - never did. There may be grounds for criticism and he may make the entire Macleod Street development profitable but lets bin the asset stripping myth. Asset stripper? No. Good football chairman (in all but name)? No Good businessman? No Good communicator? No In it for the long haul? Probably Likely to keep his mitts off team selections? Sadly, no. Link to comment Share on other sites More sharing options...
Therapist Posted July 8, 2008 Share Posted July 8, 2008 If Mr Romanov is an asset stripper, he must be the least effective one in the world. :sheep: On a technical note, it's impossible to asset strip an entity that has a negative net worth. Link to comment Share on other sites More sharing options...
Flimsy Posted July 8, 2008 Share Posted July 8, 2008 I agree with redm, I think only a fraction of a percentage of Hearts supporters think that VR is an asset stripper, I've only seen this ridiculous theory expounded by one or two on this site. The less ridiculous theory that VR is a bellend has been expounded much more frequently. VR = asset stripper - 0.1% VR = God - 0.1% VR = bellend - 99.8% We're not as divided a support as many make us out to be. Link to comment Share on other sites More sharing options...
Homme Posted July 8, 2008 Share Posted July 8, 2008 Asset Stripper? - No Arse? - Yes Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted July 8, 2008 Share Posted July 8, 2008 I've never considered him an asset stripper. An incompetent, egotistical buffoon maybe, but not an asset stripper. What he said. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted July 8, 2008 Share Posted July 8, 2008 I've never considered him an asset stripper. An incompetent, egotistical buffoon maybe, but not an asset stripper. Cmon Chad....don't you mean a romantic, idealistic, perfectionsitic dreamer? Link to comment Share on other sites More sharing options...
Jammy T Posted July 8, 2008 Share Posted July 8, 2008 Yeah, I think asset stripping has been discussed on here but I dont think anyone really has a strong view on it. He is a financial incompetent in the context of Hearts (to the extent that all the UBIG swap appears to have done is bail out the loss Vlad has accrued for no gain) He is guilty of extraordinary mismanagement in turning a team from challenging for the league to flirting with bottom place in the league in 2 and a half seasons There is a chance most of the quick sales and attempts to sell any player worth a few grand over the last year is as a result of cash flow problems / lack of liquidity Whilst I will be anxious about the whereabouts of the Gordon, Hartley, Bednar monies until somebody confirms they are accounted for in our profits (and I am anxious that this may be easier to "fudge" with this ?12m swap) unless there is a black hole in our accounts which roughly equates to the money we should have brought in from those sales I dont think there is much to suggest asset stripping. Incompetence. Mismanagement. Recklessness. Yes. Link to comment Share on other sites More sharing options...
jkato Posted July 8, 2008 Share Posted July 8, 2008 Given the latest ?12 million cash injection...... What "cash injection?" He's purely offset a loan that had to be paid within this financial period and converted it into shares. This is not a cash injection. There is no cash involved. And in answer to your question, only time will tell. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted July 8, 2008 Share Posted July 8, 2008 What "cash injection?" He's purely offset a loan that had to be paid within this financial period and converted it into shares. This is not a cash injection. There is no cash involved. And in answer to your question, only time will tell. It's just his "latest" cash injection don't you know. As others have said before me, never did, and still don't think he's asset stripping. It just doesn't make much sense to think he was asset stripping, as we don't really have assets to strip. Incompetent buffoon on the other hand - he's definately shown plenty of signs of being one of those. Link to comment Share on other sites More sharing options...
Chad Sexington Posted July 8, 2008 Share Posted July 8, 2008 Cmon Chad....don't you mean a romantic, idealistic, perfectionsitic dreamer? Arf. Sorry Doc, You're right. Damn Spell check. Link to comment Share on other sites More sharing options...
Coco Posted July 8, 2008 Share Posted July 8, 2008 Asset stripper? No. Good football chairman (in all but name)? No Good businessman? No Good communicator? No In it for the long haul? Probably Likely to keep his mitts off team selections? Sadly, no. I think that sums it up. I find the idea that capitalising the losses made by awful business decisions on the cost side of the club as the mark of a great businessman quite funny. Link to comment Share on other sites More sharing options...
Chad Sexington Posted July 8, 2008 Share Posted July 8, 2008 FWIW I actually think that Vlad really does care about the club. He genuinely loves us. It's just that his love is a twisted, scary love. Link to comment Share on other sites More sharing options...
Debbiejambo Posted July 8, 2008 Share Posted July 8, 2008 What "cash injection?" He's purely offset a loan that had to be paid within this financial period and converted it into shares. This is not a cash injection. There is no cash involved. And in answer to your question, only time will tell. Just a question. A loan is a form of investment, you put money out and get a return on it and hopefully it is secure and at the end of the day you get your money back plus a bit of a profit. The great man has bought shares in Hearts and reduced the overdraft as a result, great news. Now, Vlad is reported to be a great businessman and lending to hearts was as described above, so where will the profit come for him as he seems to have bought the shares personally. My thoughts are that UKIO have told him to reduce the exposure, he owns the ground etc and will sell at any time ro release his profit. Link to comment Share on other sites More sharing options...
Des' Dad Posted July 8, 2008 Share Posted July 8, 2008 I think the thing that really rankles with Hearts fans about VR and his cohorts is the lies they have told to us. I fully understand his mistrust of the media and his reluctance to give out any information to journalists, who incidentally are the biggest liars of all, but to string us along with half truths and promises that are eventually broken is no way to cultivate a happy and loyal fan base. Link to comment Share on other sites More sharing options...
redm Posted July 8, 2008 Share Posted July 8, 2008 Just a question. A loan is a form of investment, you put money out and get a return on it and hopefully it is secure and at the end of the day you get your money back plus a bit of a profit. The great man has bought shares in Hearts and reduced the overdraft as a result, great news. Now, Vlad is reported to be a great businessman and lending to hearts was as described above, so where will the profit come for him as he seems to have bought the shares personally. My thoughts are that UKIO have told him to reduce the exposure, he owns the ground etc and will sell at any time ro release his profit. Hello and welcome. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted July 8, 2008 Share Posted July 8, 2008 Just a question. A loan is a form of investment, you put money out and get a return on it and hopefully it is secure and at the end of the day you get your money back plus a bit of a profit. The great man has bought shares in Hearts and reduced the overdraft as a result, great news. Now, Vlad is reported to be a great businessman and lending to hearts was as described above, so where will the profit come for him as he seems to have bought the shares personally. My thoughts are that UKIO have told him to reduce the exposure, he owns the ground etc and will sell at any time ro release his profit. Your clearly not a Hearts fan, as you described Romanov as the 'great man'. Link to comment Share on other sites More sharing options...
WalterEgo Posted July 8, 2008 Share Posted July 8, 2008 I find the idea that capitalising the losses made by awful business decisions on the cost side of the club as the mark of a great businessman quite funny. Not sure about funny but whilst there is almost unbridled joy at this news it is actually (under any normal circumstances) absolutely awful business. Any accountable CEO would get his jotters for this. But hey ho, the debt is reduced . Link to comment Share on other sites More sharing options...
I P Knightley Posted July 8, 2008 Share Posted July 8, 2008 It's just his "latest" cash injection don't you know. As others have said before me, never did, and still don't think he's asset stripping. It just doesn't make much sense to think he was asset stripping, as we don't really have assets to strip. Incompetent buffoon on the other hand - he's definately shown plenty of signs of being one of those. As the french say, "Dans une cocquille d'une noix" (In a nut shell) Link to comment Share on other sites More sharing options...
Das Root Posted July 8, 2008 Share Posted July 8, 2008 Maybe not no, but you can be sure that if he leaves, he'll sell everything if there's a tenner more profit in it that passing all on to the new owner. Link to comment Share on other sites More sharing options...
vilenin Posted July 8, 2008 Share Posted July 8, 2008 Given the latest ?12 million cash injection do some folk out there still think that VR has a hidden agenda to recover all of his investments plus a healthy profit though the sale of the Tynecastle site plus players? I dont - never did. There may be grounds for criticism and he may make the entire Macleod Street development profitable but lets bin the asset stripping myth. Well it's not a cash injection, it's just fiddling round with some of the debt he pointlessly created. But only a particularly stupid Hobo would suggest that he was trying to asset strip a club with far fewer assets than debts, surely? Actually, it's great that we've got this unexpected announcement and willingness to talk to fan groups all of a sudden, just before the unrest amongst fans really started kicking off - convenient too, you might almost say Link to comment Share on other sites More sharing options...
Spellczech Posted July 8, 2008 Share Posted July 8, 2008 Well debt-wise we are pretty much back to where we were when Robinson left so you could fairly claim that Vlad has paid for his mistakes... On the other hand the squad is actually weaker than when Robinson left in that we have a lot more players but fewer quality ones... We can however say that they is more hope for the club in that there is a revamped stadium in the offing, but then that was being talked about as soon as Vlad arrived 3 years ago too... In short the more things change the more they stay the same... I hope this year we have a coach who brings in a few more young players and we start over again, this time moving forward through organic,if slower, progress... Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 8, 2008 Share Posted July 8, 2008 Not sure about funny but whilst there is almost unbridled joy at this news it is actually (under any normal circumstances) absolutely awful business. Any accountable CEO would get his jotters for this. But hey ho, the debt is reduced . If Hearts were still listed then their shares would fall on the announcement,as was the case with all other PLCs who had an equity swap. As you state normally heads would roll in the boardroom. This is not a cash injection or a debt reduction,it does however make Hearts fc more attractive for a takeover ,and Hearts Stalingrad LTd or whatever it is going to be called to develop the stadium slightly less unattractive for investors. Its not bad news though and in the current climate thats good news. I believe there is imminent good news on the managerial and playing sides,but will believe the names when they arrive. Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 8, 2008 Share Posted July 8, 2008 Well it's not a cash injection, it's just fiddling round with some of the debt he pointlessly created. But only a particularly stupid Hobo would suggest that he was trying to asset strip a club with far fewer assets than debts, surely? Actually, it's great that we've got this unexpected announcement and willingness to talk to fan groups all of a sudden, just before the unrest amongst fans really started kicking off - convenient too, you might almost say dont,leave them to think they were important enough to get the meeting arranged Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted July 8, 2008 Share Posted July 8, 2008 Well debt-wise we are pretty much back to where we were when Robinson left so you could fairly claim that Vlad has paid for his mistakes... thats pretty much how I see it. He's made mistakes which have cost HMFC a lot of money, but credit to him for now taking responsibility for those mistakes. Now, lets see if we've learned our lessons, and can avoid repeating the mistakes going forward. Link to comment Share on other sites More sharing options...
WalterEgo Posted July 8, 2008 Share Posted July 8, 2008 thats pretty much how I see it. He's made mistakes which have cost HMFC a lot of money, but credit to him for now taking responsibility for those mistakes. Now, lets see if we've learned our lessons, and can avoid repeating the mistakes going forward. I'm more lukewarm about this than I was yesterday. Romanov is actually coming out of this slightly ahead. He waives debt that he himself created and in doing so increases his percentage shareholding. Link to comment Share on other sites More sharing options...
Fozzyonthefence Posted July 8, 2008 Share Posted July 8, 2008 I've never considered him an asset stripper. An incompetent, egotistical buffoon maybe, but not an asset stripper. Exactimundo! Link to comment Share on other sites More sharing options...
kevmacd Posted July 8, 2008 Share Posted July 8, 2008 Just a question. A loan is a form of investment, you put money out and get a return on it and hopefully it is secure and at the end of the day you get your money back plus a bit of a profit. The great man has bought shares in Hearts and reduced the overdraft as a result, great news. Now, Vlad is reported to be a great businessman and lending to hearts was as described above, so where will the profit come for him as he seems to have bought the shares personally. My thoughts are that UKIO have told him to reduce the exposure, he owns the ground etc and will sell at any time ro release his profit. The shares were not bought personally - UBIG 'bought' them (well, swapped them for the overdraft). As such, he's just increased their exposure, not reduced it! The only way to make any money out of this is if the club can be turned round and makes a profit and the shares increase in value by more than 5% per year (or more than the interest they were getting on the loan). You're not a student of Hobonomics by any chance, are you? Link to comment Share on other sites More sharing options...
this_is_my_story Posted July 8, 2008 Share Posted July 8, 2008 No, and neither would any sane individual who actually understands what an asset stripper is. Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted July 8, 2008 Share Posted July 8, 2008 I never thought he was an asset stripper - I've never met a serious Jambo who did. I did think, and to an extent still do, that there was a slightly sinister plan in place to develop Lithuanian football and raise money for somebody or something in the process. The events of the last couple of days have gone a long, long way to convincing me otherwise. A decent managerial appointment and a trouble-free season and things could be back on track. Link to comment Share on other sites More sharing options...
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