Eddington Posted October 7, 2008 Share Posted October 7, 2008 Like many other banks its feeling the times See for yourself http://www.baltic.omxnordicexchange.com/market/?instrument=LT0000102352&list=2&pg=details&tab=historical&lang=en¤cy=0&date=&start_d=7&start_m=4&start_y=2008&end_d=7&end_m=10&end_y=2008&period=year From what Im reading it looks pretty bad but lets but it in UK terms RBS share price is ?1 give or take 10% (went as low as 90p), but the so called nominal value is 25p UKIO share price is 1.16 ltl (went as low as 1.14 ltl), but the so called nominal value is 1.0 ltl If it drops anymore then we might be in for some problems, unless a HBOS position comes up when it is taken over for near 60% than it is worth (based on the time of the deal) Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted October 7, 2008 Share Posted October 7, 2008 Go see a therapist! Link to comment Share on other sites More sharing options...
givememychoice Posted October 7, 2008 Share Posted October 7, 2008 there are many things in your post that indicate you dont really know about financial stuff that i wont bother going into it. Thats not to say they are safe, the whole banking industry is in trouble. But nor am i overly concerned. Link to comment Share on other sites More sharing options...
Craigieboy Posted October 7, 2008 Share Posted October 7, 2008 What will be will be. Whats the point worrying? . Link to comment Share on other sites More sharing options...
Johanes de Silentio Posted October 7, 2008 Share Posted October 7, 2008 What will be will be. Whats the point worrying? . Abso****inglutely! Link to comment Share on other sites More sharing options...
Eddington Posted October 7, 2008 Author Share Posted October 7, 2008 The worst that could happen is that someone else would come in and buy the club We wouldnt/couldnt fold.... just might be under roma for too much longer Link to comment Share on other sites More sharing options...
Makween Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Link to comment Share on other sites More sharing options...
Buffalo Bill Posted October 7, 2008 Share Posted October 7, 2008 I'm much more worried about the Big Bang experiment. Buffalo Bill . Link to comment Share on other sites More sharing options...
Boris Posted October 7, 2008 Share Posted October 7, 2008 I'm much more worried about the Big Bang experiment. Buffalo Bill . Absolutely shocking that a father would refer to his off-spring in this way. Disgraceful! Link to comment Share on other sites More sharing options...
Jammy T Posted October 7, 2008 Share Posted October 7, 2008 I'm much more worried about the Big Bang experiment. Buffalo Bill . I'm more worried that "web bots" have predicted a big terrorist attack at some point today..... Link to comment Share on other sites More sharing options...
topcat Posted October 7, 2008 Share Posted October 7, 2008 Like many other banks its feeling the times See for yourself http://www.baltic.omxnordicexchange.com/market/?instrument=LT0000102352&list=2&pg=details&tab=historical&lang=en¤cy=0&date=&start_d=7&start_m=4&start_y=2008&end_d=7&end_m=10&end_y=2008&period=year From what Im reading it looks pretty bad but lets put it in UK terms RBS share price is ?1 give or take 10% (went as low as 90p), but the so called nominal value is 25p UKIO share price is 1.16 ltl (went as low as 1.14 ltl), but the so called nominal value is 1.0 ltl If it drops anymore then we might be in for some problems, unless a HBOS position comes up when it is taken over for near 60% than it is worth (based on the time of the deal) Don't get too hung up on Nominal Value The last time RBS shares were available at 25p Lithuania was part of the USSR and didn't have a stock market. They were trading at around 40p when the Berlin wall came down. For Ukios Bankas 1.14 is the lowest price since April 2002. Link to comment Share on other sites More sharing options...
londonjambo Posted October 7, 2008 Share Posted October 7, 2008 Go see a therapist! But make sure he doesnt leave half way through GC Link to comment Share on other sites More sharing options...
JohnB Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Merely an adjustment from the norm where everyone thinks they're a football manager. Link to comment Share on other sites More sharing options...
The Brow Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. 100% SPOT ON. I was saying as much to my mates the other day. Everyones a ****ing economist these days convinced the snippet they read in the local newpaper is gospel. If people were as clued up as they claim then they wouldnt be sitting on KB all day shyting themselves about having no money or club to follow. Its hobonomics gone mad! Link to comment Share on other sites More sharing options...
monkfish1979 Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Word. Given the midden heap the "professionals" have made of things, amateurs don't stand a chance. Link to comment Share on other sites More sharing options...
NoseLikeMahe Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Some are accountants though.... Link to comment Share on other sites More sharing options...
Dazzle Posted October 7, 2008 Share Posted October 7, 2008 Storm clouds are gathering there's no doubt about it. How it will impact HMFC remains to be seen but there is nothing any of us can do. Link to comment Share on other sites More sharing options...
J.T.F.Robertson Posted October 7, 2008 Share Posted October 7, 2008 Storm clouds are gathering there's no doubt about it. How it will impact HMFC remains to be seen but there is nothing any of us can do. This "thing" keeps going the way it is and it will impact every fecker. True, we'd go belly up, but every club in every league will be hugely affected. Yours, Adam Smith's prot?g? Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. What makes you think accountants know what the **** is going on with all this ? I think you meant economist. Link to comment Share on other sites More sharing options...
Therapist Posted October 7, 2008 Share Posted October 7, 2008 I think you meant economist. Economists never agree on anything. They are in the rent-an-opinion industry. Fact. Incidentally, I hate accountants more than economists. Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 Economists never agree on anything. They are in the rent-an-opinion industry. Fact. Incidentally, I hate accountants more than economists. At least there are a couple out there who know what is going on. If only the chumps in Government and the financial sector had listened to them a few years ago. Oh well too late now !! Link to comment Share on other sites More sharing options...
Martin67 Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Whilst I agree to an extent, is it not important for people to try and understand what the current crisis is all about together with the causes? With that said, the hobo new born accountants are particularly annoying (are you watching Sergey?). Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 I think that the important thing to hold onto in all of this is that UKIO Bankas are only a small part of UBIG. Also, at least we are in debt to our owner. I would hate for us to be in such great debt to a random bank which could just call in the debt and leave us stookied, just like the bank did when the pieman was in charge. UBIG has nothing to gain by calling in Hearts' debt, so it is hard to imagine that they would. Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 Whilst I agree to an extent, is it not important for people to try and understand what the current crisis is all about together with the causes?With that said, the hobo new born accountants are particularly annoying (are you watching Sergey?). No chance of that judging by what goes into the media everyday! Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 At least there are a couple out there who know what is going on. If only the chumps in Government and the financial sector had listened to them a few years ago. Oh well too late now !! Hmmm, so you think that the British Government should have been going to America's financial institutions to instruct them to stop their level of lending to the sub-prime market? Link to comment Share on other sites More sharing options...
BlackJAC? Posted October 7, 2008 Share Posted October 7, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. Nah, some of us are just ****ing great full stop. Like me for example. Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 Hmmm, so you think that the British Government should have been going to America's financial institutions to instruct them to stop their level of lending to the sub-prime market? No I never said that... They should have been listening to those people who have actually been making sense over the past few years in the midst of this stupid credit binge. There are a fair few people out there who knew exactly what was going to happen. I managed to find out what they had to say and realised they were the ones talking sense. If I can do that then why not the people who run this country. Link to comment Share on other sites More sharing options...
KingRibSupper Posted October 7, 2008 Share Posted October 7, 2008 Go see a therapist! Made me laugh Link to comment Share on other sites More sharing options...
jlo2 Posted October 7, 2008 Share Posted October 7, 2008 Economists never agree on anything. Nonsense. Economists have correctly predicted nine of the last five recessions! Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 No I never said that... They should have been listening to those people who have actually been making sense over the past few years in the midst of this stupid credit binge. There are a fair few people out there who knew exactly what was going to happen. I managed to find out what they had to say and realised they were the ones talking sense. If I can do that then why not the people who run this country. No, you are still wrong. The "credit crunch" and the resultant global financial crisis has been caused by American institutions lending too much to the sub-prime market - particularly mortgages which is secured debt. This is entirely seperate from the amount of personal unsecured debt now being serviced by a large proportion of the UK population which is what I have to assume you mean by "credit binge". If you want to try and claim that the current Labour Government has contributed to the "credit binge" then I suggest you state which policies the current administration has put into place to fuel this "credit binge". Via the FSA the current Government has forced the lenders of unsecured credit to meet criteria that was not required pre 1997. If you want to say that the current Government has encouraged house purchase then I would expect you to explain why it was this current Labour adminstration that abolished MIRAS. Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 No, you are still wrong. The "credit crunch" and the resultant global financial crisis has been caused by American institutions lending too much to the sub-prime market - particularly mortgages which is secured debt. This is entirely seperate from the amount of personal unsecured debt now being serviced by a large proportion of the UK population which is what I have to assume you mean by "credit binge". If you want to try and claim that the current Labour Government has contributed to the "credit binge" then I suggest you state which policies the current administration has put into place to fuel this "credit binge". Via the FSA the current Government has forced the lenders of unsecured credit to meet criteria that was not required pre 1997. If you want to say that the current Government has encouraged house purchase then I would expect you to explain why it was this current Labour adminstration that abolished MIRAS. What are you talking about ? My point is that many people saw this situation coming. What is your point above ? That Labour is not partkly responsible for this mess... Are you insane. Seriously ? Browns budget speech of 1997: "No more boom and bust" "I will not let house prices get out of control" This is all Americas problem Seriously you need to read a lot more about this. Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted October 7, 2008 Share Posted October 7, 2008 What are you talking about ? My point is that many people saw this situation coming. What is your point above ? That Labour is not partkly responsible for this mess... Are you insane. Seriously ? Browns budget speech of 1997: "No more boom and bust" "I will not let house prices get out of control" This is all Americas problem Seriously you need to read a lot more about this. You are still not adressing the point. You claimed that there were "Government Chumps" responsible and that there were others who knew better. I have challenged you to explain yourself, you have not done so. The Government has not generated a "boom and bust" situation, if you believe it has then once again I challenge you to give some evidence and facts! FFS! Are, or have house prices been "out of control" at any time during the past 11 years? No, of course they are not. House prices always rise ahead of salary inflation, then have a correction when they finally get too far ahead of salary inflation, that is a fact and it has nothing to do with the Government of the day. The Labour Government has done what it can by abolishing MIRAS to cool house purchase, anything else would surely be seen as far too intrusive. So far I have been the one being specific, don't you think you ought to come up with some rationale for your idiotic comments? Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 You are still not adressing the point. You claimed that there were "Government Chumps" responsible and that there were others who knew better. I have challenged you to explain yourself, you have not done so. The Government has not generated a "boom and bust" situation, if you believe it has then once again I challenge you to give some evidence and facts! FFS! Are, or have house prices been "out of control" at any time during the past 11 years? No, of course they are not. House prices always rise ahead of salary inflation, then have a correction when they finally get too far ahead of salary inflation, that is a fact and it has nothing to do with the Government of the day. The Labour Government has done what it can by abolishing MIRAS to cool house purchase, anything else would surely be seen as far too intrusive. So far I have been the one being specific, don't you think you ought to come up with some rationale for your idiotic comments? No offence - but I am not even going to bother replying to that. Waste of my time. Your points above, well what can you say..... Link to comment Share on other sites More sharing options...
Ulysses Posted October 7, 2008 Share Posted October 7, 2008 Alright folks, if the debate stays off topic this thread is off to the Shed. Link to comment Share on other sites More sharing options...
PTBCAL Posted October 8, 2008 Share Posted October 8, 2008 There's a photoshoot at Ukio Bankas today with players and kids for the Christmas Brochure. Link to comment Share on other sites More sharing options...
footieman Posted October 8, 2008 Share Posted October 8, 2008 There's a photoshoot at Ukio Bankas today with players and kids for the Christmas Brochure. In Kaunas? Link to comment Share on other sites More sharing options...
colingwood Posted October 8, 2008 Share Posted October 8, 2008 A friend of mine,not a jambo, emailed the following to me. I have no time to investigate myself but maybe someone here has some insight. My friend is not an accountant or economist but he is very well connected. "UBIG has invested quite a bit of cash in the Republika Srpska part of Bosnia Herzegovina in recent years. It backed the huge Birac alumina plant at Banja Luka, which a couple of weeks ago gave up 98% of its capital to cover bad debts. Birac has also lost around 80% of its share value in the past year (from 30 to 6) and recently laid off 245 workers. UBIG also founded the Balkan Investment Bank in Banja Luka, which manages the Balkan Investment Fund. This has poured cash into a number of major businesses in that area. Its biggest fund placements have been in the aforementioned stricken Birac plant plus a bauxite firm, metals company and Srpska Telekoms. All have lost at least 50% of their value in the past 12 months. The credit crunch means nobody is giving any more loans to UBIG or UKIO, which invested heavily in the property market in the Baltics and Russia - just before these markets crashed. UBIG and UKIO have backed loser after loser. Now that the credit has dried up, they are having to account for their losses. In recent days UKIO's shares (which have nosedived over the past three months) have been among the highest-traded on the Baltic exchange -- suggesting that the company is spending a LOT of cash trying to prop up its value. Yet the price of UKIO shares is still falling." Link to comment Share on other sites More sharing options...
Independence Posted October 8, 2008 Share Posted October 8, 2008 A friend of mine,not a jambo, emailed the following to me. I have no time to investigate myself but maybe someone here has some insight. My friend is not an accountant or economist but he is very well connected. "UBIG has invested quite a bit of cash in the Republika Srpska part of Bosnia Herzegovina in recent years. It backed the huge Birac alumina plant at Banja Luka, which a couple of weeks ago gave up 98% of its capital to cover bad debts. Birac has also lost around 80% of its share value in the past year (from 30 to 6) and recently laid off 245 workers. UBIG also founded the Balkan Investment Bank in Banja Luka, which manages the Balkan Investment Fund. This has poured cash into a number of major businesses in that area. Its biggest fund placements have been in the aforementioned stricken Birac plant plus a bauxite firm, metals company and Srpska Telekoms. All have lost at least 50% of their value in the past 12 months. The credit crunch means nobody is giving any more loans to UBIG or UKIO, which invested heavily in the property market in the Baltics and Russia - just before these markets crashed. UBIG and UKIO have backed loser after loser. Now that the credit has dried up, they are having to account for their losses. In recent days UKIO's shares (which have nosedived over the past three months) have been among the highest-traded on the Baltic exchange -- suggesting that the company is spending a LOT of cash trying to prop up its value. Yet the price of UKIO shares is still falling." Your 'well connected (whatever that means) friend may be correct but it is hardly ground moving information. Almost all the companies in the world are seeing their shares fall!!!!!! UKIO will be in the same boat as the rest!!! Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted October 8, 2008 Share Posted October 8, 2008 action will have to be taken ...tora tora tora again Link to comment Share on other sites More sharing options...
Independence Posted October 8, 2008 Share Posted October 8, 2008 This is the latest statement taken from the UKIO's web site: Met with industrialists Today, Ūkio bankas Board chairwoman Edita Karpavičienė participated in a meeting with representatives from the Industrialists’ Confederation. The event was attended by the finance minister Rimantas Šadžius, the president of the Association of Lithuanian Banks Stasys Kropas and managers of other national commercial banks. Report at the meeting was delivered by Reinoldijus Šarkinas, chairman of the Board of the Bank of Lithuania. It was noted that too many attempts were made in our country to envisage artificial similarities to the events happening on the global finance markets, in particular in major countries. Mr. Šarkinas emphasised once again that Lithuania’s banks were safe and prepared for possible swings. In addition, depositors’ deposits with all Lithuanian banks have been insured. The meeting participants expressed hope that the evil-minded people will not be able to take advantage of the current situation in the world. After the meeting, Mrs. Karpavičienė noted that similar dialogues should be more intensive these days. “It should be clearly said to everybody that one should stop getting into a panic. Now, a lot depends on the ability to calm down and to evaluate the situation calmly.” Perhaps the translation is not the best!!! Link to comment Share on other sites More sharing options...
Coco Posted October 8, 2008 Share Posted October 8, 2008 Ukio Bankas shares traded at 1 Lita at the close today. This is down by 81% since their high in July of last year. Great quote: "hope that the evil-minded people will not be able to take advantage of the current situation in the world" I guess that it is not evil minded to take advantage of privatisations/asset grabs in former command economies ... Link to comment Share on other sites More sharing options...
Independence Posted October 8, 2008 Share Posted October 8, 2008 Ukio Bankas shares traded at 1 Lita at the close today. This is down by 81% since their high in July of last year. Great quote: "hope that the evil-minded people will not be able to take advantage of the current situation in the world" I guess that it is not evil minded to take advantage of privatisations/asset grabs in former command economies ... And this is different from any other bank? Well no it isn't. You must be very sad that we have not gone into administration and it doesn't look **** happening!!!! Lets have a good reply with more 'doom and gloom' information!!!! NOT!!! Link to comment Share on other sites More sharing options...
Coco Posted October 8, 2008 Share Posted October 8, 2008 And this is different from any other bank? Well no it isn't. You must be very sad that we have not gone into administration and it doesn't look **** happening!!!! Lets have a good reply with more 'doom and gloom' information!!!! NOT!!! I provided a fact about the share price. And mentioned a quote from the previous post/news release by Ukio Bankas. I then made a comment about that quote - a quote which is unlike any I have seen from a bank across the world. And on a point directly relevant to the owner of the club/major power broker in the bank. I have no idea of what you are talking about regarding administration and my views on it. How do you know if Hearts are not likely to go into administration? Link to comment Share on other sites More sharing options...
Independence Posted October 8, 2008 Share Posted October 8, 2008 I provided a fact about the share price. And mentioned a quote from the previous post/news release by Ukio Bankas. I then made a comment about that quote - a quote which is unlike any I have seen from a bank across the world. And on a point directly relevant to the owner of the club/major power broker in the bank. I have no idea of what you are talking about regarding administration and my views on it. How do you know if Hearts are not likely to go into administration? Could it be that the translation is not the best on the UKIO web site, as has happened many times before when we have been told what VR has allegedly said etc?Or would that not fit into your agenda, which is very clear from your many previous negative posts! Link to comment Share on other sites More sharing options...
Coco Posted October 8, 2008 Share Posted October 8, 2008 Could it be that the translation is not the best on the UKIO web site, as has happened many times before when we have been told what VR has allegedly said etc?Or would that not fit into your agenda, which is very clear from your many previous negative posts! I have no idea of whether anyone who writes for the official Ukio Bankas site is able to translate properly or not. Nor have I any idea of whether VR's rants have been translated accurately. Perhaps they are a mild form of his ranting and raving. I don't have an agenda. Just post my views. With regard to positivity - how would you like to dress up an 80% fall in the share price of the banking arm of the company which owns Hearts? Link to comment Share on other sites More sharing options...
shaun.lawson Posted October 8, 2008 Share Posted October 8, 2008 I have no idea of whether anyone who writes for the official Ukio Bankas site is able to translate properly or not. Nor have I any idea of whether VR's rants have been translated accurately. Perhaps they are a mild form of his ranting and raving. I don't have an agenda. Just post my views. With regard to positivity - how would you like to dress up an 80% fall in the share price of the banking arm of the company which owns Hearts? My thoughts entirely. Perhaps we should just ignore what's happening to Ukio's share price, so NBerwickJTs can sleep at night? Now, where's that ostrich smiley... Link to comment Share on other sites More sharing options...
Dazzle Posted October 8, 2008 Share Posted October 8, 2008 My thoughts entirely. Perhaps we should just ignore what's happening to Ukio's share price, so NBerwickJTs can sleep at night? Or we could just keep churning it up for no good reason. Link to comment Share on other sites More sharing options...
Martin_T Posted October 8, 2008 Share Posted October 8, 2008 My thoughts entirely. Perhaps we should just ignore what's happening to Ukio's share price, so NBerwickJTs can sleep at night? Now, where's that ostrich smiley... Should we be worried about those clubs which bank with HBOS, RBS and Barclay's then? What's your proposed solution then Shaun? Your recent contributions to this forum have been increasingly dissapointing. Link to comment Share on other sites More sharing options...
A Boy Named Crow Posted October 8, 2008 Share Posted October 8, 2008 The worst bit about the current financial climate (at Hearts and in life in general) is how everyone's decided that they're an accountant. I AM an accountant, sadly I have no opinion on the financial turmoil or otherwise our parent company may or may not be experiencing! What I could point out is that at times like this the share price isn't really that important. Eight years ago the firm I work for was sitting at $815 a share. Today they are down around $1.60 - $1.70 (Telecoms...). They won't go bust aytime soon, just not a great investment prospect!!! Link to comment Share on other sites More sharing options...
Malinga the Swinga Posted October 8, 2008 Share Posted October 8, 2008 No point in worrying about things you cannot influence. Watching Bloomberg tonight, see that the US markets are slowly turning positive and it may be that the global interest rate cuts are slowly restoring confidence. Things have a long way to go, but as commercial paper becomes easier to swop/purchase/sell, then business around the world should be able to borrow funds again, at a reasonable price. Link to comment Share on other sites More sharing options...
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