Financial stability of Ukio Bankas.......

[jambos are go!]

Anyone willing to speculate on whether the fall of the pound against the Euro and Dollar is VR. I suspect he keeps his reserves in one or the other. If so financing HMFC will have got cheaper. Speculation though.

[Independence]

don't get too optimistic about the profit gregorski - that's a one off windfall from selling a property in moscow; without it, things are down.

 

and the stock crashed again today. it doesn't look like investors are confident about this big debt repayment on friday.

 

Why is it I can visulise you rubbing your hands with glee?

 

However, like the vast majority of posters on KB who have been predicting the demise of VR soon, I expect you to be wrong.

 

However, I also expect all the usual VR hat kickers to back predicting his demise the next day.

 

Same old, old story!!!

 

Surely you would be better on Hibs.net?

[Geoff Kilpatrick]

Why is it I can visulise you rubbing your hands with glee?

 

However, like the vast majority of posters on KB who have been predicting the demise of VR soon, I expect you to be wrong.

 

However, I also expect all the usual VR hat kickers to back predicting his demise the next day.

 

Same old, old story!!!

 

Surely you would be better on Hibs.net?

 

I think you need to calm down. Banking the world over has its troubles and in the smaller emerging nations that trouble can wipe out banks in an instant.

 

Will Ukio disappear? I don't honestly know. However, if there is a run on the bank in Lithuania, there will be knock on effects across Europe, particularly in Sweden as they are the majority shareholders of most of the other Lithuanian banks. Therefore, it may be in their interest to buy a struggling bank like Ukio to prevent wider losses although that would mean big paper losses for the likes of Vlad.

 

Either way, we can speculate all we like but as I said in another thread there is no point worrying about something that might happen that we have no control over.

[davemclaren]

there is no point worrying about something that might happen that we have no control over.

 

Is that the approach you take the night before a Hearts cup final Geoff?

[Geoff Kilpatrick]

Is that the approach you take the night before a Hearts cup final Geoff?

 

Touche!

[castlerock]

Why is it I can visulise you rubbing your hands with glee?

 

However, like the vast majority of posters on KB who have been predicting the demise of VR soon, I expect you to be wrong.

 

However, I also expect all the usual VR hat kickers to back predicting his demise the next day.

 

Same old, old story!!!

 

Surely you would be better on Hibs.net?

what part of my post isn't strictly factual other than the last sentence. even then though, while that's conjecture, it's based on a pattern that has been repeated ad nauseum through this whole economic crisis.

 

my view is that hiding one's head in the sand is not the best strategy (though i confess i'm fecked if i know what is).

 

that bank looks to me to be in deep deep trouble. the knock on effects for hearts aren't clear, but, well, i am worried.

[Lay of the Land]

what part of my post isn't strictly factual other than the last sentence. even then though, while that's conjecture, it's based on a pattern that has been repeated ad nauseum through this whole economic crisis.

 

my view is that hiding one's head in the sand is not the best strategy (though i confess i'm fecked if i know what is).

 

that bank looks to me to be in deep deep trouble. the knock on effects for hearts aren't clear, but, well, i am worried.

 

As I see it: the UKIO Bank has sod all to do with the club now other than have their name emblazoned on our shirts.

 

The money is due to Ubig.

 

If UKIO go tits-up, it's just the day-to-day bills and wages that won't get paid but the club are still on a sound footing.

[castlerock]

As I see it: the UKIO Bank has sod all to do with the club now other than have their name emblazoned on our shirts.

 

The money is due to Ubig.

 

If UKIO go tits-up, it's just the day-to-day bills and wages that won't get paid but the club are still on a sound footing.

how does non-payment of wages equate to a sound footing?

 

if i'm not mistaken players contracts are void on non-payment. that's a whole bunch of assets off your books in one feel swoop never mind not being able to fulfil fixtures.

 

cash flow is what's killing all these companies today. most of them have sound profit and loss books, it's just the absence of money today that's gubbing them.

 

as for UBIG, we can only speculate given it's a private co, but some of the biggest losers on the dow jones have been metals manufacturers. that plus the 98% (98%!!!) capital writedown of the metals plant at it's centre, which is in the public domain, are, once more, a cause for concern.

 

and again, hatkicker or not, all the above is purely fact, no embellishment - apart from the fact that it causes me, personally, to worry.

[Geoff Kilpatrick]

how does non-payment of wages equate to a sound footing?

 

if i'm not mistaken players contracts are void on non-payment. that's a whole bunch of assets off your books in one feel swoop never mind not being able to fulfil fixtures.

 

cash flow is what's killing all these companies today. most of them have sound profit and loss books, it's just the absence of money today that's gubbing them.

 

as for UBIG, we can only speculate given it's a private co, but some of the biggest losers on the dow jones have been metals manufacturers. that plus the 98% capital writedown that is in the public domain are, once more, a cause for concern.

 

and again, hatkicker or not, all the above is purely fact, no embellishment - apart from the fact that it causes me, personally, to worry.

 

Post Bosman, players are no longer as assets on balance sheets.

 

It's quite ironic though, as the Robinson and Deans share offer prospectus in 1994 listed transfer values of our squad at the time along with a profile of each player!

 

Anyway, back to Vlad's empire - the key question for us is whether he will be forced to sell HMFC as part of an asset disposal firesale. So far, that doesn't seem to be the case.

[Lay of the Land]

how does non-payment of wages equate to a sound footing?

 

if i'm not mistaken players contracts are void on non-payment. that's a whole bunch of assets off your books in one feel swoop never mind not being able to fulfil fixtures.

 

cash flow is what's killing all these companies today. most of them have sound profit and loss books, it's just the absence of money today that's gubbing them.

 

as for UBIG, we can only speculate given it's a private co, but some of the biggest losers on the dow jones have been metals manufacturers. that plus the 98% (98%!!!) capital writedown of the metals plant at it's centre, which is in the public domain, are, once more, a cause for concern.

 

and again, hatkicker or not, all the above is purely fact, no embellishment - apart from the fact that it causes me, personally, to worry.

 

 

:107years:

[castlerock]

Post Bosman, players are no longer as assets on balance sheets.

 

i stand corrected; i think. they must be reflected somehow surely, else every club would be even more bust than they all are - most especially the biggest clubs.

[davemclaren]

Post Bosman, players are no longer as assets on balance sheets.

 

It's quite ironic though, as the Robinson and Deans share offer prospectus in 1994 listed transfer values of our squad at the time along with a profile of each player!

 

Anyway, back to Vlad's empire - the key question for us is whether he will be forced to sell HMFC as part of an asset disposal firesale. So far, that doesn't seem to be the case.

 

And what price would Hearts fetch today?

[castlerock]

 

:107years:

 

fish away. i you can be arsed; tell me which bit isn't just a statement of fact. you don't have to be worried, that's your call, but this is just the facts ma'am and not on a par with 'i've just been texted by...' chatter.

[Geoff Kilpatrick]

And what price would Hearts fetch today?

 

For the shares, buttons.

 

For the debt, good question!

[Geoff Kilpatrick]

i stand corrected; i think. they must be reflected somehow surely, else every club would be even more bust than they all are - most especially the biggest clubs.

 

They aren't reflected at all and it means that any sale of a player for a transfer fee is akin to a capital injection into the club in accounting terms.

[Thig Ar Latha]

It has been mentioned in the past that Romanov is short of cash given the state of his main cash-cow (the Aluminium plant).

 

It would be highly unlikely that Ukio would lend HMFC anymore cash given that they struggle to service the current level of debt.

 

In my opinion, the ONLY way forward, if there is to be one, is to offload in January.

 

Deeply disappointing but it?s reality.

 

It much rather take a season of stability in both a financial and footballing sense and still be around to fight another season, than to chase 3rd by taking a gamble on new players.

 

 

As someone else mentioned, it would'nt nessecarily be a bad thing. IMO the Team is top heavy with Chiefs and desperately needs some Indians.

[Geoff Kilpatrick]

Lithuanian financial outlook commented on here. The analyst is saying that the lita will remain pegged to the Euro. The question here is can Brussels ride roughshod over the markets if they start currency runs a la ERM?

 

http://www.bloomberg.com/apps/news?pid=20601095&sid=a0DpLkbng2xI&refer=east_europe

[Clerry Jambo]

http://www.baltic.omxnordicexchange.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=228364

 

Loan appears to have been paid.

 

Tramps no happy.

 

Any Financiers care to comment.

[Charlie-Brown]

Sir gay is crying into his cornflakes as we speak, fat mikey & big frank calling an emergency session of yams in adminastrayshun commitee

[Geoff Kilpatrick]

http://www.baltic.omxnordicexchange.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=228364

 

Loan appears to have been paid.

 

Tramps no happy.

 

Any Financiers care to comment.

 

Vlad in paying debt on time shocker!

[Nucky Thompson]

Vlad in paying debt on time shocker!

Before time:) It wasn't due till Friday.

[jambos are go!]

I take it the lack of reponses to my earlier post from the sceptics means that the drop in the pound against the Euro/dollar makes VRs ongoing daily committments to Hearts less expensive than it was a few months ago.

[Nucky Thompson]

I take it the lack of reponses to my earlier post from the sceptics means that the drop in the pound against the Euro/dollar makes VRs ongoing daily committments to Hearts less expensive than it was a few months ago.

The pound is up a wee bit since last week, it dropped to 1.15 against the euro and today it's back up to 1.192.

[sam]

No wonder we are cutting the wage bill thats about 50million sterling ukio just paid back.That seems like a massive amount of money for a bank there size.

[Independence]

fish away. i you can be arsed; tell me which bit isn't just a statement of fact. you don't have to be worried, that's your call, but this is just the facts ma'am and not on a par with 'i've just been texted by...' chatter.

 

FACTS!!!

 

Have a word with yourself!

 

You do appear to be enjoying this though!!!!

 

The FACTS depend on who you listen to and what knowledge they claim to have!!!

 

I will just wait and see, however ,as it stands at the moment VR does not appear to be in any trouble due the many diverse interests he has. Also did UKIO not submit quite good (because other banks are suffering losses) profits only last month. This is on their website so it is a FACT I will believe!

[Guest jambomickey]

remember the early days when all we talked about was football and vlad was there in the stand waving his scarf! since things went the opposite way he's never seen and we only talk about mismanagement.

[Independence]

remember the early days when all we talked about was football and vlad was there in the stand waving his scarf! since things went the opposite way he's never seen and we only talk about mismanagement.

 

Can I politely suggest that this is not the thread for you.

 

There are many other threads maybe more appropriate for your liking.

 

Or perhaps you are not pleased that VR has proved a LOT of 'doom merchants' wrong, once again!!!!

[jambos are go!]

The problem to me is not actual Administration but the threat of Administration having to be deployed by creditors to get their money. It may be cost effective to keep them waiting but it feeds all these stories and aint pretty.

[jambos are go!]

The pound is up a wee bit since last week, it dropped to 1.15 against the euro and today it's back up to 1.192.

 

Still cheaper to pay the bills from euro reserves than it was a few months ago.

[Guest jambomickey]

Can I politely suggest that this is not the thread for you.

 

There are many other threads maybe more appropriate for your liking.

 

Or perhaps you are not pleased that VR has proved a LOT of 'doom merchants' wrong, once again!!!!

 

can i politely suggest i'll post wherever i like! if he proves me wrong by building the new stand as promised then i'll take him serious until then he's the guy who promised the world and has delivered rubbish except for the first season.

[Francis Albert]

can i politely suggest i'll post wherever i like! if he proves me wrong by building the new stand as promised then i'll take him serious until then he's the guy who promised the world and has delivered rubbish except for the first season.

 

I see this is being developed as the next "we were promised" complaint. IF the new stand/hotel project is delayed or abandoned or modified in the light of the worst financial crisis in 60 years are Hearts supporters really going to be so childish as to squeal "we were promised"?

[Guest JamboRobbo]

I see this is being developed as the next "we were promised" complaint. IF the new stand/hotel project is delayed or abandoned or modified in the light of the worst financial crisis in 60 years are Hearts supporters really going to be so childish as to squeal "we were promised"?

 

Yep. Are other Hearts supporters really going to be so niave as to say "fair enough wasn't a big deal anyway".

[Wilson]

Yep. Are other Hearts supporters really going to be so niave as to say "fair enough wasn't a big deal anyway".

 

 

Naivity is expecting that Ukio/Ubig etc are immune from current crisis. There is no hope in hell of this stand being funded in the near future. There is no lending in the market at all. And yes, I know what I am talking about.

 

The criticism that might be laid against our leader is that he missed the boat, by taking so long to lodge planning etc.

[Guest jambomickey]

I see this is being developed as the next "we were promised" complaint. IF the new stand/hotel project is delayed or abandoned or modified in the light of the worst financial crisis in 60 years are Hearts supporters really going to be so childish as to squeal "we were promised"?

 

and do you think the stand was ever going to be built? wouldn't believe romanov if he told me today was tuesday.

[Guest jambomickey]

Naivity is expecting that Ukio/Ubig etc are immune from current crisis. There is no hope in hell of this stand being funded in the near future. There is no lending in the market at all. And yes, I know what I am talking about.

 

The criticism that might be laid against our leader is that he missed the boat, by taking so long to lodge planning etc.

 

naivity is the minority of hearts fans who still believe in this paranoid lying regime.

[tolcross lad]

naivity is the minority of hearts fans who still believe in this paranoid lying regime.

 

There is a lot of arrogance and "know all" attitudes in this statement.

[Guest jambomickey]

There is a lot of arrogance and "know all" attitudes in this statement.

 

just my opinion mate! do you trust the mad freak?

[Francis Albert]

Yep. Are other Hearts supporters really going to be so niave as to say "fair enough wasn't a big deal anyway".

 

No. And I am not. It was and remains a big deal, to which Vlad's regime committed a commendable amount of money and effort. If it falls through (like innumerable other projects) in current circumstances it would be naive if Hearts fans to believe it was a "broken promise" and (more to the point) opportunistic of others to proclaim it as such.

[Francis Albert]

and do you think the stand was ever going to be built? wouldn't believe romanov if he told me today was tuesday.

 

I think there was and may remain a serious intention to build it, but it was never "a promise" and I don't think anyone really thought it was.

[Guest jambomickey]

No. And I am not. It was and remains a big deal, to which Vlad's regime committed a commendable amount of money and effort. If it falls through (like innumerable other projects) in current circumstances it would be naive if Hearts fans to believe it was a "broken promise" and (more to the point) opportunistic of others to proclaim it as such.

 

it will be a broken promise.

[Guest jambomickey]

I think there was and may remain a serious intention to build it, but it was never "a promise" and I don't think anyone really thought it was.

 

romanov has been full of broken promises and lies.

[Gigolo-Aunt]

it will be a broken promise.

 

Who knows how serious the original plan was, does seem to be a waste of time and money for it to be a red herring.

 

Own opinion is Hearts were going to push this forward, but the goal posts have changed due to the world money crunch.

 

Not sure we can blame El President for that.

[Guest jambomickey]

Who knows how serious the original plan was, does seem to be a waste of time and money for it to be a red herring.

 

Own opinion is Hearts were going to push this forward, but the goal posts have changed due to the world money crunch.

 

Not sure we can blame El President for that.

 

ga i hope you're right and i'm wrong mate but i've said since the day anderton got the bullet it wouldn't happen and to be honest i wouldn't believe or trust this regime.

[Gigolo-Aunt]

ga i hope you're right and i'm wrong mate but i've said since the day anderton got the bullet it wouldn't happen and to be honest i wouldn't believe or trust this regime.

 

Hearts have spent a considerable amount of money and time on this though. Not sure trust comes in to the equation.

 

Pedro Lopez moving on to pastures new for me said the plan was being put on hold (although Im sure he could be replaced)

 

Thing is, If Hearts were pressing on with the plan, pretty sure many posters would not be happy as in the present climate it would be madness.

[Guest jambomickey]

Hearts have spent a considerable amount of money and time on this though. Not sure trust comes in to the equation.

 

Pedro Lopez moving on to pastures new for me said the plan was being put on hold (although Im sure he could be replaced)

 

Thing is, If Hearts were pressing on with the plan, pretty sure many posters would not be happy as in the present climate it would be madness.

 

more money on the debt spent ga! just like the money spent on pay offs for the sacking madness, pedro lopez was given treble the time that phil anderton was to get the new stand up but one of the reasons for andertons sacking was it was taking him too long to get planning permission.

[Gigolo-Aunt]

more money on the debt spent ga! just like the money spent on pay offs for the sacking madness, pedro lopez was given treble the time that phil anderton was to get the new stand up but one of the reasons for andertons sacking was it was taking him too long to get planning permission.

 

That wasnt the point you made though.

 

You questioned if it was for real or a promise to be broken.

 

Apologies if I have picked it up wrong.

[Guest jambomickey]

That wasnt the point you made though.

 

You questioned if it was for real or a promise to be broken.

 

Apologies if I have picked it up wrong.

 

ga imo i don't think the new stand was ever going to be built! i would take a new stand with 4000 seats and some corporate boxes tbh, just something to secure our long term future at tynecastle.

[Francis Albert]

it will be a broken promise.

 

If in your world every plan and aspiration that falls through is a "broken promise" ...

[Guest jambomickey]

If in your world every plan and aspiration that falls through is a "broken promise" ...

 

what have we seen delivered what was promised when romanov came in? i'll give you remaining at tynecastle, i'll give you winning the scottish cup and i'll give you champions league. but that was 3 years ago! now give me the positives and negatives of the last 3 years in your opinion.

[Francis Albert]

what have we seen delivered what was promised when romanov came in? i'll give you remaining at tynecastle, i'll give you winning the scottish cup and i'll give you champions league. but that was 3 years ago! now give me the positives and negatives of the last 3 years in your opinion.

 

There are of course a lot of negatives to set against the major positives you mention (none of which were themselves exactly "promised" IMO). I think the negatives have been covered quite extensively on JKB. But you are getting well off my point that complaining that a failure to deliver the new stand/hotel project in current circumstances is a "broken promise" is somewhat ridiculous.