Guided Missile

Spot on....

They shouldn't have loaned us money in the first place, but demanded that the new shareholders who were in control of the company put in more money, as we were loss making at the time. Failing that, they should have got PG's. I think the overdraft was at an idiotic level, as evidenced by the club's inability to repay. Banks don't lend "their" money, they mainly lend other people's money. Barclays tier 1 capital level at the moment probably means that for every £12 lent they have £1 of "their" money backing it up. I have no problem Barclays wanting the loan repaid by SLH. It's just that I don't see why the **** I should help repay it for them....I also don't see why I should also donate towards Begbie Traynor's income...my shares are already worthless. Beyond buying a pie and pint at the Stadium, that's as far as I will go....

Remind me who controls the bank account of the football club, derry....it is the administrator, who is working on behalf of the creditors, not the company.

You aren't very good at English, are you Steve? Your Easter homework is to learn the spelling and meaning of carcase and carcass. Just to help: Carcase the body of slaughtered animal after the removal of the offal.1] Carcass A term for a dead body, typically that of an animal.

In the rush to try to help the cause, there has been a groundswell from the diehard fans to dip into their recession ravaged wallets and send money to Southampton Leisure Holdings plc (Southampton Football Club Limited don't need our money, because that organisation is not in administration, apparently). Having a brutal experience of what the people connected with SLH may be going through, I can understand the reasons behind the cries for money, but I think it may be worth realising who will end up with the cash. Far from benefitting the company, any income is intended to benefit the creditors, but before they get their 50p (hopefully) in the pound, the employees of SLH will stand in front of the secured creditors, with the unsecured creditors glancing nervously over their shoulders at the pot. ALL of these unlucky people will be way behind the administrator, who will make sure that, before anyone gets a penny, his organisation will fill their boots, pockets and anything else they can stuff billable hours into. Before you send Mark Fry a penny, ask him how much his company expects to benefit from this sorry mess. I reckon that the charges will suprise many fans and will, IMHO, be in the hundreds of thousands. After he has had his fill, those idiot bankers at Barclays who gave us the rope to hang ourselves with, will be plucking the pound notes out of the collection buckets, to pay down the overdraft and if there are any "management" fees owing, take this for the champagne at their shareholders dinner. At the end of the day, we will be lucky to see any benefit to the CLUB, even if a million is raised and the only thing that may change is a lower price paid for the carcase by Barry Briefcase and his friends, who have zero idea of what exactly a good investment looks like. For that reason, Mr. Fry, I'm out.....

The points deduction was what was to be implemented the following season. The rule was adopted at an emergency meeting, FFS. Seems unlikely that they would have an emergency meeting and then enforce the adopted rule a season later, doesn't it?

I don't know where this myth came from. The Football League adopted the 10 point deduction rule on the 25th September, 2003 as this article reports: Football league adopts new administration rules Clubs that go into administration will be docked 10 points from next season, the Football League has finally decided. Accountancy Age 26 Sep 2003 This decision was taken yesterday at an emergency meeting in Oxford where chairmen of Football League clubs voted to ratify the controversial proposal. Its primary aim is to prevent a situation as happened at Leicester City FC from repeating itself. Leicester City went into administration last year and used this process to wipe out all its debts before winning promotion to the Premier League without losing any of its top players. League chairman Sir Brian Mawhinney announced the decision, saying: 'This is necessary because the Football League is the guardian of competitiveness in our divisions and we can't have clubs who go into administration gaining an advantage. 'It is a fundamentally different approach and there was a healthy debate - but I pay tribute to the clubs for attaching that significance to it.' Clubs hit with the points deduction will have the right to appeal to an independent body. Derby County went into administration in October, 2003...

Lowe took a 50% pay cut post relegation, as far as I remember.

A Freudian slip, if ever I read one....

Why do you keep peddling this total ******, Wes?

From a guy with over 8,000 posts to his name, many during working hours....

Taking a wild guess: "Other professional bodies and businesses don't want to disassociate themselves from us."

The main problem was that the Saints Trust was only representing a few hundred, out of touch, impressionable Lowe haters who believed that every Saints' fan thought like them. Easily manipulated by Wilde and quickly betrayed by him, many of them now congratulate Barclays for pulling the plug, when, if it was destroying the club they wanted, they should be thanking Wilde and his wasteful spending spree. Why does the Trust now issue a rallying cry, when a year ago, with their messiah Wilde returning as chairman, it may have made a difference and avoided the inevitable relegation we now face? Simple, really. Following a class inspired agenda that included a deliberate destruction of 94% of the club, to get rid of the 6% they hated, the majority of Saints fans realised what the Trust stood for. Now the damage has been done, all that is left is a battle to save face, while a few dreamers fight over the corpse....

He was the Chairman of the Saints Trust at the time it supported Wilde and I thought anyone with an ounce of self-respect would admit the mistake, rather than making a pathetic attempt to blame Lowe for Barclays withdrawing it's support, as in this post: Like you said, though, he doesn't have to apologise for bending over when Wilde came a-courting, but to be peddling the anti-Lowe cr @p at a time like this, given his record of backing losers is pathetic. Remind me not to employ him in any financial or human resource function, when Craig David and I buy the club....

I think it's a fair post leaving me wondering why, after Wilde pitched up, you suddenly thought Lowe was the devil and Wilde the answer to everything. It's clear to me that you lost all objectivity when you led the Saints Trust to the fatal decision to back Wilde and to this day, you try and steer every thread towards an anti-Lowe egenda, when that 2005 post shows you were actually grateful for what he had achieved. Crouch apologised in the Echo for backing Wilde. Why the **** can't you?

Alright, Steve, here's a "scathing" critique of Lowe by you on the Saints' list from 2005. I struggled hard to see where your financial concerns were voiced, nor any anti-Lowe rhetoric. Finger on the pulse? More like a finger up your nose....

The most recent post of yours' I was unfortunate enough to read was this one: I am struggling to get the sense from this one, that you currently think it will be impossible to come up with any funds....

Look around you, Steve. Read the papers. Smell the air. WE'RE IN THE WORST RECESSION FOR 80 YEARS. There's no money, there will be no money and the game is up for this club, I am afraid to say. Anyone turning up for the rest of the season is simply helping to pay Barclay's back. If we'd been spared the Trust's attempts to get a fan on the board, by bending over as soon as Wilde and his team of spongers and egotists road into town, maybe, just maybe, we'd have survived in the Championship. Just admit it. The Trust, when you were chairman, should share the blame for helping to put the most incompetent businessman in Jersey, in charge of our old club, just because he threw you some shares. "I never assumed the change in ownership would lead to a massive influx of cash". No, sh** Sherlock. Putting your hero in charge lead to a "massive outflow of cash", that has bankrupted us....

Mark, I think the following old posts will show you how out of touch Steve was, regarding the Trust's choice to replace Lowe. From 0 to a £6.5M overdraft in two years was exactly the way douche bag Wilde was running Merlion. Scouser through and through.....

How about "Let's Go Broke"?

It's owned by SLH, which is in Admin. The football club is hardly in a position to operate independently, particularly as the meaningful assets are owned by SLH and over which the main creditors have a charge. No, the administrators are in charge of SFC until the club is sold to Crouch et al, when he will promptly have Wilde flogged and exiled back to the B&B he runs in Jersey...

The administrators are in charge, ie Begbies Traynor.... Article from Accountancy Age, 09 Nov 2007: "Begbies Traynor has snapped up the corporate recovery division of Leeds-based firm Bartfields, bringing well-known practitioner Gerald Krasner into its fold. Krasner is most well known for serving as chairman of debt-ridden football club Leeds United, effecting its successful sale – with considerably less debt - to Ken Bates."

I dug up two old posts of mine and think we might be in a position to remove both of the main stumbling blocks, IMHO, to our progress in the choppy waters of a recession, namely a ridiculously high interest charge on the stadium loan and a pointless AIM listing cost. Between them, ie a renegotiated 4.5% fixed interest rate on the stadium loan and an elimination of £250K in the fees our professional advisors rip us off, for our pointless AIM listing, I reckon we could save enough to pay off our creditors in a couple of years, if our attendance and income hold up.

What was more common, was the Cardiff fans I met in the Pitcher and Piano, having some friendly banter with them and wishing each other well. The bloke I saw in the pink top was nothing like them and fighting drunk. The incident had nothing to do with Saints fans, as they were all in the ground when it happened. There are plenty of pubs in Southampton I wouldn't go into, looking for a fight and I know there are plenty in Cardiff as well...

The Cardiff fan that deliberately barged into my son was a drunken jerk-off in a pink top, looking for a scrap with someone smaller than him....