UKIO has been hit HARD -Im worried

[Independence]

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!!!

 

Have to agree.

 

A programme on BBC 4 last night, was explaining why the Credit Crunch has occured and it's consequences. The strong message the programme sent out was that although the share prices of the majority of Banks have fallen dramatically in the last year, they are NOT in fact loosing money. However, they are trouble because they are not lending to each other. I am sure UKIO Bank is no different and may, as I have heard, in fact be in a stronger position!

[shaun.lawson]

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.

 

How many of those clubs, Martin, are either:

 

a) Owned by someone who owns a bank;

 

Up to their eyeballs in debt, and entirely reliant on said banker in order to survive?

 

It's a serious point. Everyone will be affected by this - but clubs heavily in debt in the first place even more so. And that means West Ham, and very possibly, us.

[shaun.lawson]

Or we could just keep churning it up for no good reason.

 

If the share price of the bank owned by our major shareholder is plummeting, we quite obviously have reason to be concerned.

[Independence]

If the share price of the bank owned by our major shareholder is plummeting, we quite obviously have reason to be concerned.

 

As a non accountant, it would be great if you could explain this a bit more?

 

Does this mean that the majority of other clubs fans should be worried?

 

Rangers owned by Murray whose shares have fallen, is an example! I am sure that you will find most club directors own businesses that have shares that have fallen in recent times. Man Utd and Glazier must have real problems?

[shaun.lawson]

As a non accountant, it would be great if you could explain this a bit more?

 

It means a key component of Romanov's empire is worth less and less: one which is bound to affect liquidity and cashflow. And yes, I know tons of banks who've been savaged in recent weeks were essentially sound institutions - unfortunately, there was no protection against the speculators. Which is why governments have had to get so involved; and while I haven't a clue whether the Lithuanian authorities have either the will or the means to do the same, it may be that it becomes imperative that they do.

[Dazzle]

If the share price of the bank owned by our major shareholder is plummeting, we quite obviously have reason to be concerned.

 

I'm sure everybody is anxious and concerned about the situation. But there is absolutely nothing to be achieved by banging on about it. For the few that deny the seriousness of the problem, let them be.

[shaun.lawson]

As a non accountant, it would be great if you could explain this a bit more?

 

Does this mean that the majority of other clubs fans should be worried?

 

Rangers owned by Murray whose shares have fallen, is an example! I am sure that you will find most club directors own businesses that have shares that have fallen in recent times. Man Utd and Glazier must have real problems?

 

As I said, every club will be affected - and Man Utd may well face big problems. A lot will depend on how debt at various clubs is structured - but correct me if I'm wrong, but I'm not aware that shares in Murray International have fallen by 80%, in little over a year.

[JAYEL]

As a non accountant, it would be great if you could explain this a bit more?

 

Does this mean that the majority of other clubs fans should be worried?

 

Rangers owned by Murray whose shares have fallen, is an example! I am sure that you will find most club directors own businesses that have shares that have fallen in recent times. Man Utd and Glazier must have real problems?

 

 

Must be time for another protest.

 

 

 

I get where your coming from re coco's posts

 

Always doom and gloom.

 

Even in the good times or is posted missing. when we are on the up.

 

FFS we all know that all banks are not doing to good.

[walton1983]

As a non accountant, it would be great if you could explain this a bit more?

 

Does this mean that the majority of other clubs fans should be worried?

 

Rangers owned by Murray whose shares have fallen, is an example! I am sure that you will find most club directors own businesses that have shares that have fallen in recent times. Man Utd and Glazier must have real problems?

 

The share price is important but not the reason companies go bust. It's cash flow that's the main problem and probably why the wage payments were late. It's a bit head in the sand not to be a bit worried about the club at the moment as Hearts are a cash drain on the parent company ie no income with a lot of outgoings.

[letsmakesomenoise]

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&currency=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)

 

Are we not owned by UBIG?

[Martin_T]

As I said, every club will be affected - and Man Utd may well face big problems. A lot will depend on how debt at various clubs is structured - but correct me if I'm wrong, but I'm not aware that shares in Murray International have fallen by 80%, in little over a year.

 

There are no shares in Murray International, it's a privately owned company, much the same as UBIG. Incidently, the most highly leveredged club in the UK and indeed the world is Liverpool FC.

 

A falling share price is more to do with market confidence above all else. My employer remains profitable, has a strong balance sheet and is already costed until the end of next year, yet our share price plummeted on the NYSE yesterday. Reason? Unfounded market rumours. I wouldn't read too much into the share price performance of Ukio Bankas for this reason.

 

In any event the Lithuanian Central bank seems satisfied with the stability of all it's banks and has said it would be prepared to intervene if one was to get into trouble. We would be in a lot more trouble if the fabled Icelandic takeover had gone ahead last season....

[Independence]

The share price is important but not the reason companies go bust. It's cash flow that's the main problem and probably why the wage payments were late. It's a bit head in the sand not to be a bit worried about the club at the moment as Hearts are a cash drain on the parent company ie no income with a lot of outgoings.

 

The majority of clubs fans will/should be worried just now and I am no different. However, it has become tedious how some posters seem to be taking pleasure out of Hearts situation and using it as another reason to have a go at VR. Surely VR is not to blame for the Credit Crunch!!!!! UKIO are in the same position as all Banks and time will tell what the outcome is!

 

The thread regarding the Chathams deal proves that some ill informed posters will do their best to ridicule Hearts at every opportunity despite it being based on lies!!!!!

 

Lets give comments on facts and not rumour!!

[coppercrutch]

The share price is important but not the reason companies go bust. It's cash flow that's the main problem and probably why the wage payments were late. It's a bit head in the sand not to be a bit worried about the club at the moment as Hearts are a cash drain on the parent company ie no income with a lot of outgoings.

 

It is when banks are concerned. Banks need individuals and companies to have confidence in them. If that confidence goes - and is obvious in their share price collapsing - then they will go bust.

 

Just ask RBS, HBOS, B & B, A & L, not to mention the numerous other foreign banks.

 

If Ukios share price is collapsing then there is a very large chance it will collapse. Only Vlad knows how that would impact on HMFC. Good chance it won't be good however...........

 

No point worrying about it as there is nothing we can do about it. However it makes sense to keep an eye on it. Our club could be wound up next week. That is entirely possible, if not probable, in the current climate. This is something I think we should all keep an eye on. Why wouldn't we........

[coppercrutch]

There are no shares in Murray International, it's a privately owned company, much the same as UBIG. Incidently, the most highly leveredged club in the UK and indeed the world is Liverpool FC.

 

A falling share price is more to do with market confidence above all else. My employer remains profitable, has a strong balance sheet and is already costed until the end of next year, yet our share price plummeted on the NYSE yesterday. Reason? Unfounded market rumours. I wouldn't read too much into the share price performance of Ukio Bankas for this reason.

 

In any event the Lithuanian Central bank seems satisfied with the stability of all it's banks and has said it would be prepared to intervene if one was to get into trouble. We would be in a lot more trouble if the fabled Icelandic takeover had gone ahead last season....

 

See post #63. UKIOS share price is very important to us.

[Martin_T]

It is when banks are concerned. Banks need individuals and companies to have confidence in them. If that confidence goes - and is obvious in their share price collapsing - then they will go bust.

 

Just ask RBS, HBOS, B & B, A & L, not to mention the numerous other foreign banks.

 

If Ukios share price is collapsing then there is a very large chance it will collapse. Only Vlad knows how that would impact on HMFC. Good chance it won't be good however...........

 

No point worrying about it as there is nothing we can do about it. However it makes sense to keep an eye on it. Our club could be wound up next week. That is entirely possible, if not probable, in the current climate. This is something I think we should all keep an eye on. Why wouldn't we........

 

The Lithuanian central bank has said it is satisfied with the stability of all it's banks, but is prepared to intervene should they be compromised. We are most certainly not out of the woods in the banking crisis, but today's global cut in interest rates, coupled with the large scale injection of public money into the system should see things begin to stabilise.

 

In any event, we are owned by UBIG, not UKIO Bankas. As long as UBIG continue to provide funds into the HBOS account that HMFC used to finance day to day costs, then there shouldn't be an issue. The recent fall in oil price should assist UBIG's alluminium production to become more profitable, as production costs are reduced.

[Martin_T]

See post #63. UKIOS share price is very important to us.

 

We are owned by UBIG and our short term banking facilities are with HBOS. UKIO's share price is only reflective of market trends, the company remains profitable and if there balance sheet remains solid then the share price will recover.

[Independence]

The Lithuanian central bank has said it is satisfied with the stability of all it's banks, but is prepared to intervene should they be compromised. We are most certainly not out of the woods in the banking crisis, but today's global cut in interest rates, coupled with the large scale injection of public money into the system should see things begin to stabilise.

 

In any event, we are owned by UBIG, not UKIO Bankas. As long as UBIG continue to provide funds into the HBOS account that HMFC used to finance day to day costs, then there shouldn't be an issue. The recent fall in oil price should assist UBIG's alluminium production to become more profitable, as production costs are reduced.

 

Stop being so positive!!!!!!!

[coppercrutch]

We are owned by UBIG and our short term banking facilities are with HBOS. UKIO's share price is only reflective of market trends, the company remains profitable and if there balance sheet remains solid then the share price will recover.

 

Yes and they own us and UKIOS. There is also probably only one preson who actually knows the detailed arrangements of this.

 

If UKIOS goes bust, and this is a real possibility, I think the chances of this having a minimal effect on HMFC is about 0.00001% - if that.

 

I don't think that is being pessimistic. Just realistic.

 

Anyway as I said no point worrying about it !! I just enjoy discussing it.

[Martin67]

We are owned by UBIG and our short term banking facilities are with HBOS. UKIO's share price is only reflective of market trends, the company remains profitable and if there balance sheet remains solid then the share price will recover.

 

 

How do you know that the company is profitable?

[Rudis Left Foot]

The share price is low which isnt a major concern. What worries me more than anything, and it has done for the past year or so, is UKIO's liquidity drying up. Their credit rating is really bad therefore the chances of other banks lending to them in the current climate are very slim. It is ok the government guaranteeing investments, but at some point they are going to have to realise whatever liquidity they have in the way of investments.

 

Unfortunately, when it comes to Hearts, Tynecastle is still a relatively liquid asset (ableit potentially a much lower value than it was a number of years ago). Why would a government throw money at a bank when it is funded by a group that could potentially raise cash by other means?

 

At the end of the day, we are run by a businessman. At some point, some tough decisions will be required - I for one do not see any sentimentality on behalf of Mr Romanov.

 

I am still concerned.

[coppercrutch]

The share price is low which isnt a major concern. What worries me more than anything, and it has done for the past year or so, is UKIO's liquidity drying up. Their credit rating is really bad therefore the chances of other banks lending to them in the current climate are very slim. It is ok the government guaranteeing investments, but at some point they are going to have to realise whatever liquidity they have in the way of investments.

 

Unfortunately, when it comes to Hearts, Tynecastle is still a relatively liquid asset (ableit potentially a much lower value than it was a number of years ago). Why would a government throw money at a bank when it is funded by a group that could potentially raise cash by other means?

 

At the end of the day, we are run by a businessman. At some point, some tough decisions will be required - I for one do not see any sentimentality on behalf of Mr Romanov.

 

I am still concerned.

 

 

Have a look at what has happened to almost every bank that has had a massive, not just large, fall in it's share price.

 

Not good.

[By The Light..]

I think clubs with Icelandic connections (country population the same size as Coventry) have more to worry about than the glorious JTs

 

http://www.whufc.com/page/News/0,,12562~1415588,00.html

[Geoff Kilpatrick]

As I said, every club will be affected - and Man Utd may well face big problems. A lot will depend on how debt at various clubs is structured - but correct me if I'm wrong, but I'm not aware that shares in Murray International have fallen by 80%, in little over a year.

 

You know, United should be used as an analogy for the whole crisis, in the sense that leveraging balance sheets etc. became the norm, simply because money was so cheap.

 

United were the most profitable club on the planet, with no debt. Glazer decided that the club's assets could be leveraged higher, hence his bid to buy the shares and then load the debt he built up in buying the club onto the club's balance sheet. Now that debt will need to be refinanced soon, hence the potential problems for United (in saying that, I don't foresee any danger for United - their brand is so strong that should Glazer need to sell there will be no shortage of buyers).

 

For United, read the banks and lots of other businesses. Bank of Scotland was similar to United but was seen as "staid and boring" by the City. Hence the merger with the Halifax. Hence the leveraging to lend faster and faster.

 

Institutional shareholders need to take their share of the blame too. They invest for the "long term" but were quite happy to support these leveraged buyouts and private equity takeovers, rather than looking at the business fundamentals they claim to invest in.

 

Anyway, Vlad's businesses appear to be in the leveraged bracket as well and that is a potential problem for all his businesses, including us.

[shaun.lawson]

The majority of clubs fans will/should be worried just now and I am no different. However, it has become tedious how some posters seem to be taking pleasure out of Hearts situation and using it as another reason to have a go at VR. Surely VR is not to blame for the Credit Crunch!!!!! UKIO are in the same position as all Banks and time will tell what the outcome is!

 

The thread regarding the Chathams deal proves that some ill informed posters will do their best to ridicule Hearts at every opportunity despite it being based on lies!!!!!

 

Lets give comments on facts and not rumour!!

 

No, no-one is taking pleasure at Hearts' situation - but that doesn't mean we shouldn't be aware of it and vigilant about it. Meanwhile, I only entered this thread in the first place because of your response to Coco. Coco pointed out that the share price has fallen by 80% since July 2007: this is fact, and not rumour!

[shaun.lawson]

I'm sure everybody is anxious and concerned about the situation. But there is absolutely nothing to be achieved by banging on about it. For the few that deny the seriousness of the problem, let them be.

 

Fair enough. Believe it or not, I'm not trying to scaremonger here. I just think we should keep an eye on what's going on, that's all.

[Geoff Kilpatrick]

Fair enough. Believe it or not, I'm not trying to scaremonger here. I just think we should keep an eye on what's going on, that's all.

 

Indeed, but as I've said before, we might all have a lot more to worry about than Ukio's share price.

[shaun.lawson]

The Lithuanian central bank has said it is satisfied with the stability of all it's banks, but is prepared to intervene should they be compromised. We are most certainly not out of the woods in the banking crisis, but today's global cut in interest rates, coupled with the large scale injection of public money into the system should see things begin to stabilise.

 

In any event, we are owned by UBIG, not UKIO Bankas. As long as UBIG continue to provide funds into the HBOS account that HMFC used to finance day to day costs, then there shouldn't be an issue. The recent fall in oil price should assist UBIG's alluminium production to become more profitable, as production costs are reduced.

 

Indeed. But that "as long as UBIG..." remains to be seen. We've been told in the past that Vlad is asset rich and cash poor, and at present, his assets are rapidly decreasing in value. Which in turn, will probably affect liquidity, and hence, impact on us.

 

You're right about the Lithuanian central bank's guarantee, though. Over on hibs.net, this has been seized upon as further evidence of our impending demise - but actually, it must be good news. I hope things now stabilise - we all do - but shares have continued to plummet today in spite of co-ordinated government action, and (and this is something you won't see me write every day ), I'm with coppercrutch: Ukio's falling share price cannot possibly be good for us, and is something we all have to keep an eye on.

[shaun.lawson]

Indeed, but as I've said before, we might all have a lot more to worry about than Ukio's share price.

 

Firewood at the ready, Geoff?

[JAYEL]

Indeed. But that "as long as UBIG..." remains to be seen. We've been told in the past that Vlad is asset rich and cash poor, and at present, his assets are rapidly decreasing in value. Which in turn, will probably affect liquidity, and hence, impact on us.

 

You're right about the Lithuanian central bank's guarantee, though. Over on hibs.net, this has been seized upon as further evidence of our impending demise - but actually, it must be good news. I hope things now stabilise - we all do - but shares have continued to plummet today in spite of co-ordinated government action, and (and this is something you won't see me write every day ), I'm with coppercrutch: Ukio's falling share price cannot possibly be good for us, and is something we all have to keep an eye on.

 

Why ??

[Geoff Kilpatrick]

Firewood at the ready, Geoff?

 

Heat isn't the issue out here. Bottled water is stored though!

 

Now, where do I get a gun?

[fan40]

I am no economist or accountant but if you got a large share of a bank for peanuts (which is what I believe it cost - remember Vlads own vids?). You also owned companies worth half a billion, and no doubt other companies and bits and bobs here and there - no doubt producing a lower profit at the moment - and no doubt stored plenty dosh under the mattress just in case - how the hell is someone who is really a BILLIONAIRE stupid enough to lose it all. Yes, if that is the case, we should be worried

 

Hearts will lose out only because a very successful business man decides to cut the ties. You don't become so wealthy unless you are ruthless and every penny counts. It will have nothing to do with going bust, simply the profit elsewhere had gone down.

 

My simple opinion after two bottles of very nice red wine;)

[shaun.lawson]

You know, United should be used as an analogy for the whole crisis, in the sense that leveraging balance sheets etc. became the norm, simply because money was so cheap.

 

United were the most profitable club on the planet, with no debt. Glazer decided that the club's assets could be leveraged higher, hence his bid to buy the shares and then load the debt he built up in buying the club onto the club's balance sheet. Now that debt will need to be refinanced soon, hence the potential problems for United (in saying that, I don't foresee any danger for United - their brand is so strong that should Glazer need to sell there will be no shortage of buyers).

 

For United, read the banks and lots of other businesses. Bank of Scotland was similar to United but was seen as "staid and boring" by the City. Hence the merger with the Halifax. Hence the leveraging to lend faster and faster.

 

Institutional shareholders need to take their share of the blame too. They invest for the "long term" but were quite happy to support these leveraged buyouts and private equity takeovers, rather than looking at the business fundamentals they claim to invest in.

 

Anyway, Vlad's businesses appear to be in the leveraged bracket as well and that is a potential problem for all his businesses, including us.

 

Absolutely. Incidentally, a bit off-topic, and I don't want this thread to end up in the Shed, but you know who I blame for this crisis more than anyone? Bill Clinton. It was his well-meaning administration which wanted to help far more lower-income workers own their own homes, so going a long way to solving various social problems in their neighbourhoods; but they did it by putting intolerable pressure on banks and mortgage companies to target all their efforts at these workers, despite warnings of the massive dangers involved.

 

Quite why it's taken so long for this policy to go belly-up, I'm not sure - house prices just rose and rose and rose. But it couldn't last - and as soon as the bubble burst, the rest was inevitable.

[shaun.lawson]

Why ??

 

Because it means his assets decline in value, liquidity freezes up, and UBIG will come under more and more pressure to, how can I put this, prioritise. That's why.

 

Incidentally, you are aware of how badly UBIG got their fingers burned over Bosnian aluminium? And how highly leveraged the Balkan Investment Bank, another part of UBIG, is?

 

http://www.bib.ba/a2/index.php/pg/3385.html

[JAYEL]

Because it means his assets decline in value, liquidity freezes up, and UBIG will come under more and more pressure to, how can I put this, prioritise. That's why.

 

Incidentally, you are aware of how badly UBIG got their fingers burned over Bosnian aluminium? And how highly leveraged the Balkan Investment Bank, another part of UBIG, is?

 

http://www.bib.ba/a2/index.php/pg/3385.html

 

So we all have to keep an eye on it.

 

And worry i suppose.

 

 

 

Worry away !!

 

 

I will just wait and see what really happens.

[Geoff Kilpatrick]

Absolutely. Incidentally, a bit off-topic, and I don't want this thread to end up in the Shed, but you know who I blame for this crisis more than anyone? Bill Clinton. It was his well-meaning administration which wanted to help far more lower-income workers own their own homes, so going a long way to solving various social problems in their neighbourhoods; but they did it by putting intolerable pressure on banks and mortgage companies to target all their efforts at these workers, despite warnings of the massive dangers involved.

 

Quite why it's taken so long for this policy to go belly-up, I'm not sure - house prices just rose and rose and rose. But it couldn't last - and as soon as the bubble burst, the rest was inevitable.

 

That's what the financial whiz-kids dreamed up - a means of "mitigating" this risk. Unfortunately, what was a relatively worthy idea led to unintended consequences. If you can "securitise" these debts, you can do it again and again and suddenly more "money" was being created out of fresh air as opposed to that created by coppercrutch's favourite thing, fractional reserve banking. Rather than check this, central banks did nothing because, well China was making things a lot cheaper and so "inflation" wasn't a problem. Plus people had easy credit so who was worrying?

 

It took just one bank (it was either BNP Paribas or Societe Generale) to say that the emperor had no clothes and we are where we are.

[shaun.lawson]

That's what the financial whiz-kids dreamed up - a means of "mitigating" this risk. Unfortunately, what was a relatively worthy idea led to unintended consequences. If you can "securitise" these debts, you can do it again and again and suddenly more "money" was being created out of fresh air as opposed to that created by coppercrutch's favourite thing, fractional reserve banking. Rather than check this, central banks did nothing because, well China was making things a lot cheaper and so "inflation" wasn't a problem. Plus people had easy credit so who was worrying?

 

It took just one bank (it was either BNP Paribas or Societe Generale) to say that the emperor had no clothes and we are where we are.

 

Yup. As an aside, Leeds, Newcastle, Manchester City and Norwich have all gone in for 'securitisations' in recent years - and in every case, it's been a disaster! In City's case, for instance, it was the reason they had to go cap in hand to Shinawatra in the first place.

 

When I first heard the term, 'sub-prime mortgage', I figured it'd all be far too complex for me to understand. But good God: last year, the Bank of America was lending to people with no job, and no income! Can you believe that? It's just staggering.

[Auld Smiddy]

The Lithuanian Central Bank's announcement, and the urgency with which it called on Lithuania's parliament to act, suggests that there has been a genuine fear of collapse at at least one local bank.

Given Ukio's share price fall, it wouldn't be hard to guess that it is in real danger.

The good news is that the central bank's announcement should buy some time for Ukio.

Now attention will swing to UBIG, and exactly what it's investing in.

The Birac alumina plant in Bosnia is a disaster. Its share price is down more than 90%.

The Balkan Investment Bank's portfolio is a disaster. Its biggest investment is in Birac, but other Bosnian firms have also done very badly.

And I'd be willing to bet that UBIG has had to spend a bit of cash trying to prop up Ukio.

In the current climate, that means it must be struggling to find ready cash, as no banks are lending.

So things will be very tight at Tynecastle for the foreseeable future.

And that is a very optimistic view.

It's time to turn off the telly, stop buying newspapers, and go for a long walk, now that it's the international weekend.

Let the bankers do the worrying.

[Geoff Kilpatrick]

The Lithuanian Central Bank's announcement, and the urgency with which it called on Lithuania's parliament to act, suggests that there has been a genuine fear of collapse at at least one local bank.

Given Ukio's share price fall, it wouldn't be hard to guess that it is in real danger.

The good news is that the central bank's announcement should buy some time for Ukio.

Now attention will swing to UBIG, and exactly what it's investing in.

The Birac alumina plant in Bosnia is a disaster. Its share price is down more than 90%.

The Balkan Investment Bank's portfolio is a disaster. Its biggest investment is in Birac, but other Bosnian firms have also done very badly.

And I'd be willing to bet that UBIG has had to spend a bit of cash trying to prop up Ukio.

In the current climate, that means it must be struggling to find ready cash, as no banks are lending.

So things will be very tight at Tynecastle for the foreseeable future.

And that is a very optimistic view.

It's time to turn off the telly, stop buying newspapers, and go for a long walk, now that it's the international weekend.

Let the bankers do the worrying.

 

:107years:

 

I thought it was the hoboeconomists that were doing that for us?

 

Besides, aren't we meant to be in administration by now?

[Martin_T]

How do you know that the company is profitable?

 

http://www.ub.lt/ShowPage.aspx?MenuC=1568&ShowDoc=news.2008_09_10&PageLang=ENG&PageFontSize=1&BackUrlName=Back

 

Their last announced results showed an increase in net profits of 40%.

[Coco]

Indeed. But that "as long as UBIG..." remains to be seen. We've been told in the past that Vlad is asset rich and cash poor, and at present, his assets are rapidly decreasing in value. Which in turn, will probably affect liquidity, and hence, impact on us.

 

You're right about the Lithuanian central bank's guarantee, though. Over on hibs.net, this has been seized upon as further evidence of our impending demise - but actually, it must be good news. I hope things now stabilise - we all do - but shares have continued to plummet today in spite of co-ordinated government action, and (and this is something you won't see me write every day ), I'm with coppercrutch: Ukio's falling share price cannot possibly be good for us, and is something we all have to keep an eye on.

 

Alcoa - massive producer of Aluminium has seen its share price fall by 60% so far this year; down by 53% in the last 3 months. Things are not great in the aluminium production sector across the world.

[Geoff Kilpatrick]

Alcoa - massive producer of Aluminium has seen its share price fall by 60% so far this year; down by 53% in the last 3 months. Things are not great in the aluminium production sector across the world.

 

Vlad won't be worried about his aluminium plant. He's entrusted the running of it to our chairman!

[Coco]

Time for some good news!

 

Ukio Bankas' share price is up by 15% this morning!

[Deevers]

Time for some good news!

 

Ukio Bankas' share price is up by 15% this morning!

 

That'll mean a bout of wrist slitting on deluded.net!!!!

[jambos are go!]

Heard on the Radio this morning that 2 weeks ago the Icelandic Banks were given their highest possible credit rating. Add the delusions over HBOS and the like and these credit agencies are joke.

[Colonel Kurtz]

Heard on the Radio this morning that 2 weeks ago the Icelandic Banks were given their highest possible credit rating. Add the delusions over HBOS and the like and these credit agencies are joke.

If Hearts are forced into administration it will be for a small amount say?6k due to local creditors,Baltic share price will not be an issue

[Toxteth O'Grady]

If Hearts are forced into administration it will be for a small amount say?6k due to local creditors,Baltic share price will not be an issue

 

Have you no had this weeks digs money?

[Toxteth O'Grady]

If Hearts are forced into administration it will be for a small amount say?6k due to local creditors,Baltic share price will not be an issue

 

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