Dr. Bapswent Posted October 7, 2008 Share Posted October 7, 2008 http://www.dailymail.co.uk/sport/football/article-1070974/UKIO-quell-fears-cash-crisis-Hearts.html A senior official of Vladimir Romanov's Ukio Bankas last night emphatically denied that Hearts are poised to plunge into administration later this week. Internet messageboards buzzed with suggestions yesterday that the troubled Edinburgh club are in irretrievable financial trouble in the face of the global economic credit crunch. Following a plunge in the Ukio Bankas share price yesterday, one radio station even went so far as to report the administration claims on a sports bulletin. According to former Hearts director and chairman of the bank Liutauras Varanavicius, however, the reports and rumours are misguided and malicious. That is despite the club's debts currently running at ?20million and the recent crisis which witnessed players and staff being paid their wages a week late. Link to comment Share on other sites More sharing options...
The Mighty Thor Posted October 7, 2008 Share Posted October 7, 2008 http://www.dailymail.co.uk/sport/football/article-1070974/UKIO-quell-fears-cash-crisis-Hearts.html I just posted in the shed that UKIO shares are taking a hammering, down 15% yesterday and a further 12% today. Now worth only ?0.34 per share. I would take anything any banker says with a fairly large pinch of salt at the moment. Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 http://www.dailymail.co.uk/sport/football/article-1070974/UKIO-quell-fears-cash-crisis-Hearts.html Thanks for posting this, although you know that all the usual suspects will just come on and use their "expert" knowledge to dis what the UKIO Bank spokesperson has said. Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 I just posted in the shed that UKIO shares are taking a hammering, down 15% yesterday and a further 12% today. Now worth only ?0.34 per share. I would take anything any banker says with a fairly large pinch of salt at the moment. Well, given that RBS is down 32.5% so far today, UKIO is obviously in better shape than RBS. Link to comment Share on other sites More sharing options...
Gambo Posted October 7, 2008 Share Posted October 7, 2008 So are all the clubs who have banking facilities with HBOS going into administration? I thought we, like Ukio Bankas were owned by UBIG? Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 7, 2008 Share Posted October 7, 2008 Liutauras Varanavicius. Misguided and malicious. Yup. Link to comment Share on other sites More sharing options...
JAMBO.LOU Posted October 7, 2008 Share Posted October 7, 2008 With both HBOS and RBS seemingly struggling alot more than UKIO you would think other football clubs would be worried. We are not the only club in debt!!! Link to comment Share on other sites More sharing options...
JAMBO.LOU Posted October 7, 2008 Share Posted October 7, 2008 Ewan Cameron Malicious and misguided we knew that already!!!!! Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted October 7, 2008 Author Share Posted October 7, 2008 Thanks for posting this, although you know that all the usual suspects will just come on and use their "expert" knowledge to dis what the UKIO Bank spokesperson has said. i see what you mean. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted October 7, 2008 Share Posted October 7, 2008 Liutauras Varanavicius. Misguided and malicious. Yup. I remember him assuring certain people that Vlad wiznae interfering in team selection. Link to comment Share on other sites More sharing options...
Chad Sexington Posted October 7, 2008 Share Posted October 7, 2008 It really doesn't matter what kind of assurances are issued from Lithuania. Nothing they say will be believed by a section of the Hearts support anyway. I suppose that's a by product of feeding the supporters bulls*it in the past. As far as this announcement goes, didn't HBOS say it was in great financial nick a couple of weeks ago? In the current climate no financial institution is safe. Link to comment Share on other sites More sharing options...
Jammy T Posted October 7, 2008 Share Posted October 7, 2008 It really doesn't matter what kind of assurances are issued from Lithuania. Nothing they say will be believed by a section of the Hearts support anyway. I suppose that's a by product of feeding the supporters bulls*it in the past. As far as this announcement goes, didn't HBOS say it was in great financial nick a couple of weeks ago? In the current climate no financial institution is safe. I'd go further to be honest It doesnt really matter what assurances a senior employee of any bank issues at the moment. This year has been full of CEOs / Chairmen of banks lieing about the strength of their respective banks. Whether it was LV or Fred Goodwin speaking I personally would consign any statement to the bucket. Whilst this may conform to Dr Baps assumption of what someone like me would say, it is entirely for different reasons than he would assume I would genuinely treat any "bankers" word as worthless (much like their underlying businesses) at this time Link to comment Share on other sites More sharing options...
kingantti1874 Posted October 7, 2008 Share Posted October 7, 2008 i currently work for rbs - am in here now.. any jobs? Link to comment Share on other sites More sharing options...
Deevers Posted October 7, 2008 Share Posted October 7, 2008 To quote Winston Churchill : " In time of war, the truth is so precious it should always be accompanied by a bodyguard of lies". In these turbulent times with respect to the financial sector these words ring true. Personally I would not trust any utterance from anyone involved in the banking sector at this moment in time. Link to comment Share on other sites More sharing options...
Jammy T Posted October 7, 2008 Share Posted October 7, 2008 i currently work for rbs - am in here now.. any jobs? any chat going around today? you are on almost as big a rollercoaster as being a Hearts fan.... Link to comment Share on other sites More sharing options...
TheBigTeam Posted October 7, 2008 Share Posted October 7, 2008 I remember him assuring certain people that Vlad wiznae interfering in team selection. Exactly.I cant believe anybody would believe a thing any they Liths say.WAKE UP. Link to comment Share on other sites More sharing options...
Cut The Crap Posted October 7, 2008 Share Posted October 7, 2008 I remember him assuring certain people that Vlad wiznae interfering in team selection. At least he appears to be speaking for himself, rather than using his vessels on here to get the official lie out. Actually, I just noted there is no direct quote in the posted article, which makes it rather less reassuring. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted October 7, 2008 Share Posted October 7, 2008 The Banking system just now reminds me of the card game 'scabbie queen' as each one drops out (merged/privatised) each remaining participant thinks/knows that they or someone else still has the 'scabbie queen' card. I don't think Bank staff are deliberately telling lies to shareholders & customers they are trying to manage the situation as best they can without spreading further panic & hysteria surrounding their shares & company that could sink them even quicker than the economic crisis might. Link to comment Share on other sites More sharing options...
the voice from above Posted October 7, 2008 Share Posted October 7, 2008 i currently work for rbs - am in here now.. any jobs? I hope you've used up all your canteen credit... Link to comment Share on other sites More sharing options...
colinmaroon Posted October 7, 2008 Share Posted October 7, 2008 To quote Winston Churchill : " In time of war, the truth is so precious it should always be accompanied by a bodyguard of lies". In these turbulent times with respect to the financial sector these words ring true. Personally I would not trust any utterance from anyone involved in the banking sector at this moment in time. Never have! Never will!!! If it wasn't so serious for everybody else, I would be echoing the sentiments of my current "Boss" - Psalm 2:1, 4; "Why do the nations rage and the peoples plot in vain? . . . He who sits in the heavens laughs; the Lord holds them in derision." Way before I ever became a Christian, my experience of bankers, both with regards to personal and business banking was that they would offer you the earth when you didn't need it, and whip away the props when you did!!! Matthew 7:24-27, "Everyone then who hears these words of mine and does them will be like a wise man who built his house on the rock. And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. And everyone who hears these words of mine and does not do them will be like a foolish man who built his house on the sand. And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it." ...................... Link to comment Share on other sites More sharing options...
The Mighty Thor Posted October 7, 2008 Share Posted October 7, 2008 Thanks for posting this, although you know that all the usual suspects will just come on and use their "expert" knowledge to dis what the UKIO Bank spokesperson has said. Just reporting the facts. UKIO shares are down heavily. No political comment, no handwringing, no second guessing. Merely the facts. We're doooooomed!! (just for you ) Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted October 7, 2008 Author Share Posted October 7, 2008 Never have! Never will!!! If it wasn't so serious for everybody else, I would be echoing the sentiments of my current "Boss" - Psalm 2:1, 4; "Why do the nations rage and the peoples plot in vain? . . . He who sits in the heavens laughs; the Lord holds them in derision." Way before I ever became a Christian, my experience of bankers, both with regards to personal and business banking was that they would offer you the earth when you didn't need it, and whip away the props when you did!!! Matthew 7:24-27, "Everyone then who hears these words of mine and does them will be like a wise man who built his house on the rock. And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. And everyone who hears these words of mine and does not do them will be like a foolish man who built his house on the sand. And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it." ...................... I will place even less stock in anyone telling me how to live my life through what they interpret from a fictional book. Particularly one that has been re-written so many times it has no relevance to the original. http://news.bbc.co.uk/1/hi/magazine/7651105.stm Interesting to note that the oldest version, has COMPLETELY different accounts of things people take for granted in the 'bible'. Particularly as the most 'original' one which is frankly rather anti-semitic. People believe in the teachings of the bible....which one? So its been re-written a number of times? To fit in with someones wishes? to remove things that might not have gone down so well? Yet its still the word of god? Ha Ha Ha The irony is palpable. Link to comment Share on other sites More sharing options...
kingantti1874 Posted October 7, 2008 Share Posted October 7, 2008 LOL - im actually daily rate **** as the permies call us i.e. i have my own business and i invoice them for the work i do directly....quite a few people lost a lot of cash in shares and im not talking about people who can afford to lose it, quite a lot more concerned about there jobs....slightly different for me as i finish at the end of the year anyway. rbs wont go under - no chance, but it'll take a long time for the share price to recovery and stability to be had. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted October 7, 2008 Author Share Posted October 7, 2008 The irony is, its a great time for contractors who charge through the teeth, as people don't want to, or are not allowed to take on more staff at a time like this - therefore they user contractors who charge ten times more as these are not considered an extra head in the business. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 Varanavicius bought a significant amount of shares in Ukio the other day. Take from that what you will. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted October 7, 2008 Share Posted October 7, 2008 The irony is, its a great time for contractors who charge through the teeth, as people don't want to, or are not allowed to take on more staff at a time like this - therefore they user contractors who charge ten times more as these are not considered an extra head in the business. They also shed them quicker than deciduous tree's shed leaves in autumn.....contractors 'might' get an improved rate for certain jobs although that depends on the supply / demand equation however one thing is certain is that contractors face greater uncertainty of future employment as anyone. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted October 7, 2008 Share Posted October 7, 2008 Varanavicius bought a significant amount of shares in Ukio the other day. Take from that what you will. It was difficult to tell much if anything from those share transactions GK as they appeared to be transactions between certain UBIG Staff & Romanov family members as well as UBIG & UKIO subsidiary companies in both directions....at least that is how it appeared to me from what i could understand. Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 7, 2008 Share Posted October 7, 2008 I will place even less stock in anyone telling me how to live my life through what they interpret from a fictional book. Particularly one that has been re-written so many times it has no relevance to the original. http://news.bbc.co.uk/1/hi/magazine/7651105.stm Interesting to note that the oldest version, has COMPLETELY different accounts of things people take for granted in the 'bible'. Particularly as the most 'original' one which is frankly rather anti-semitic. People believe in the teachings of the bible....which one? So its been re-written a number of times? To fit in with someones wishes? to remove things that might not have gone down so well? Yet its still the word of god? Ha Ha Ha The irony is palpable. Well put Dr B. Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 7, 2008 Share Posted October 7, 2008 Varanavicius bought a significant amount of shares in Ukio the other day. Take from that what you will. The whole Shares/Banking system confuses the crap out of me :- What is so interesting about that transaction GK ? Link to comment Share on other sites More sharing options...
Charlie-Brown Posted October 7, 2008 Share Posted October 7, 2008 Truth is a function of time ... look at any religious doctrines or scientific proofs or explanations if you don't believe me. Link to comment Share on other sites More sharing options...
Boris Posted October 7, 2008 Share Posted October 7, 2008 Exactly.I cant believe anybody would believe a thing any they Liths say.WAKE UP. But if they said nothing I'll wager you would complain about lack of info etc etc... Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 The whole Shares/Banking system confuses the crap out of me :- What is so interesting about that transaction GK ? The interest is that Varanavicius is chairman of Ukio and therefore his share transactions must be reported to the stock exchange. I find it intriguing that he bought shares in the current market, that's all. Link to comment Share on other sites More sharing options...
Jammy T Posted October 7, 2008 Share Posted October 7, 2008 The whole Shares/Banking system confuses the crap out of me :- What is so interesting about that transaction GK ? It suggests that someone that knows something about the company has confidence in it because he has invested his own money in it. Much in the same way that a load of RBS directors piled into RBS shares when they were around ?4.50. (now around ?1.05 ). Normally it is a good sign - but the judgement of directors of a company can be just as flawed as anyone elses, as the RBS scenario shows That said, if you are confident a company will survive (or be taken over), around the point of "capitulation" is the best time to buy. Judging what is capitulation and what is just part of a deeper drop in price is difficult For example a lot of stock analysts in America last night were DISAPPOINTED the US markets recovered from being 800 points down at one stage to "only" 350 down. Capitulation (eg shares really taking a massive hit) usually signifies the bottom of the market is in. Because the shares havent capitulated everyone basically knows there is a lot more drop in price and a lot more trauma to go God I'm boring myself now.....at least I dont just moan about Romanov I guess... Link to comment Share on other sites More sharing options...
The Don Posted October 7, 2008 Share Posted October 7, 2008 Newspaper reports, rumours and certainly broadcasting on a national radio show about a company that could be going into administration do nothing to help that said company or its shares. Everyone knows the global economy is in trouble and banks and financial institutions are taking the brunt at the moment. When the media report things people listen, whether they be rumour or not. An example of this was Northern Rock. When reports first emerged about the possibility of them having some trouble we saw the first run on a British bank for more than 100 years, this ultimately caused their collapse. People need to calm down, and learn when to keep their traps shut, those in the media need to take a good long hard look at themselves and realise at times these are peoples livelihoods they are playing with. The mass hysteria about Hearts, UBIG and UKIO being stirred up at present is getting beyond control and is getting to the point where it is serious. IF There is no problem at Hearts etc, then surely Romanov or others have to start looking into taking legal advice and possibly sueing those responsible for reporting Rumours and malicious gossip. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted October 7, 2008 Author Share Posted October 7, 2008 The interest is that Varanavicius is chairman of Ukio and therefore his share transactions must be reported to the stock exchange. I find it intriguing that he bought shares in the current market, that's all. Why would someone buy shares in the company they work for if its doing badly and had no prospect of getting better? Doing so in quantities that up the price by the function of the deal is insider trading is it not? Therefore, form his point of view, the current climate for Ukio, cant be too bad, or at least not bad enough for him to avoid buying shares as a future investment. An investment that wont exist if Ukio go under. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 Newspaper reports, rumours and certainly broadcasting on a national radio show about a company that could be going into administration do nothing to help that said company or its shares. Everyone knows the global economy is in trouble and banks and financial institutions are taking the brunt at the moment. When the media report things people listen, whether they be rumour or not. An example of this was Nationwide. When reports first emerged about the possibility of them having some trouble we saw the first run on a British bank for more than 100 years, this ultimately caused their collapse. People need to calm down, and learn when to keep their traps shut, those in the media need to take a good long hard look at themselves and realise at times these are peoples livelihoods they are playing with. The mass hysteria about Hearts, UBIG and UKIO being stirred up at present is getting beyond control and is getting to the point where it is serious. IF There is no problem at Hearts etc, then surely Romanov or others have to start looking into taking legal advice and possibly sueing those responsible for reporting Rumours and malicious gossip. Er, don't you mean Northern Wreck rather than Nationwide? Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted October 7, 2008 Share Posted October 7, 2008 The interest is that Varanavicius is chairman of Ukio and therefore his share transactions must be reported to the stock exchange. I find it intriguing that he bought shares in the current market, that's all. It suggests that someone that knows something about the company has confidence in it because he has invested his own money in it. Much in the same way that a load of RBS directors piled into RBS shares when they were around ?4.50. (now around ?1.05 ). Normally it is a good sign - but the judgement of directors of a company can be just as flawed as anyone elses, as the RBS scenario shows That said, if you are confident a company will survive (or be taken over), around the point of "capitulation" is the best time to buy. Judging what is capitulation and what is just part of a deeper drop in price is difficult For example a lot of stock analysts in America last night were DISAPPOINTED the US markets recovered from being 800 points down at one stage to "only" 350 down. Capitulation (eg shares really taking a massive hit) usually signifies the bottom of the market is in. Because the shares havent capitulated everyone basically knows there is a lot more drop in price and a lot more trauma to go God I'm boring myself now.....at least I dont just moan about Romanov I guess... Thanks. The bit I've highlighted is what first came to mind when reading LV had bought more shares in UKIO. I wonder............... Link to comment Share on other sites More sharing options...
The Don Posted October 7, 2008 Share Posted October 7, 2008 Er, don't you mean Northern Wreck rather than Nationwide? Sorry yes I meant Northern Rock I will edit Lol Link to comment Share on other sites More sharing options...
Coco Posted October 7, 2008 Share Posted October 7, 2008 Thanks. The bit I've highlighted is what first came to mind when reading LV had bought more shares in UKIO. I wonder............... There have been situations in some countries where staff have been told to buy shares as an effort to boost the share price and give the impression of solidity - immediately prior to collapse. Enron is one. Yamaichi Securities is another. Link to comment Share on other sites More sharing options...
kingantti1874 Posted October 7, 2008 Share Posted October 7, 2008 The irony is, its a great time for contractors who charge through the teeth, as people don't want to, or are not allowed to take on more staff at a time like this - therefore they user contractors who charge ten times more as these are not considered an extra head in the business. correct;) Link to comment Share on other sites More sharing options...
JamboAl Posted October 7, 2008 Share Posted October 7, 2008 I remember him assuring certain people that Vlad wiznae interfering in team selection. I remember you saying you weren't going to renew your season ticket. Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted October 7, 2008 Author Share Posted October 7, 2008 I remember you saying you weren't going to renew your season ticket. Link to comment Share on other sites More sharing options...
flecktimus Posted October 7, 2008 Share Posted October 7, 2008 Why would someone buy shares in the company they work for if its doing badly and had no prospect of getting better? Doing so in quantities that up the price by the function of the deal is insider trading is it not? Therefore, form his point of view, the current climate for Ukio, cant be too bad, or at least not bad enough for him to avoid buying shares as a future investment. An investment that wont exist if Ukio go under. If i remember correctly the HBOS directors all bought a massive amount of shares when the very first run on the bank took place ealier in the year. Link to comment Share on other sites More sharing options...
CBjambo Posted October 7, 2008 Share Posted October 7, 2008 Ewan Cameron Malicious and misguided we knew that already!!!!! I feckin hate that guy... I wouldn't pi$$ in his pocket if his balls were on fire. Little ***** of a man. Link to comment Share on other sites More sharing options...
flecktimus Posted October 7, 2008 Share Posted October 7, 2008 I remember you saying you weren't going to renew your season ticket. Have you missed JR Link to comment Share on other sites More sharing options...
JamboAl Posted October 7, 2008 Share Posted October 7, 2008 Have you missed JR Would you have? Hope he hasn't been on holiday to Lithuania. Link to comment Share on other sites More sharing options...
buzzbomb Posted October 7, 2008 Share Posted October 7, 2008 My attitude to administration etc should it come to that, is that it's the chance for someone to buy Hearts at a knock-down price.... If there's no one waiting in the wings, and there wasn't before, we better hope UBIG/UKIO are in OK shape. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted October 7, 2008 Share Posted October 7, 2008 Usual suspects personally attacking posters, rather than debating anything to do with HMFC I see. Link to comment Share on other sites More sharing options...
Guest JamboRobbo Posted October 7, 2008 Share Posted October 7, 2008 I remember you saying you weren't going to renew your season ticket. And the relevence of that to this thread is what exactly? Another opportunity for you to say nothing that has anything to do with the thread, but instead to have a go at a poster for the supposed crime of renewing their ST after having said they weren't intending to? Link to comment Share on other sites More sharing options...
JamboAl Posted October 7, 2008 Share Posted October 7, 2008 My attitude to administration etc should it come to that, is that it's the chance for someone to buy Hearts at a knock-down price.... If there's no one waiting in the wings, and there wasn't before, we better hope UBIG/UKIO are in OK shape. The problem we have with statements, like "We're OK", from Bank officials is that what they say today may be true as things stand but tomorrow is another day. If it does come to administration there will be others in the same boat, it's called "The Titanic", who will surely follow. I suspect this time we might be lucky enough to get a white knight but whether we will still own our ground is another matter. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.