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Wanderers Ways - passion not fashion

Chris Custodiet

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Everything posted by Chris Custodiet

  1. Bit of a problem isn't it when uninformed prejudices and unimaginative groupthink, shared for years between drinking mates, are challenged by folk who know what they are talking about? But if you find it painful to read it, don't read it. Not that difficult is it? But if you wanted to be constructive, you could try explaining to me, Sluffy and members of the the ST where Dean Holdsworth found a million quid to spend on fees before he spent 50P on buying half of BWFC. I'd love to know. Surely the ST chairman wouldn't make up something like that. And btw I spent quite a lot of my young life watching BWFC home and away. So actually seeing Nat Lofthouse, Tommy Banks and Eddie Hopkinson playing for BWFC and England was a source of pride rather than trauma in my formative years. Where did you get your weird ideas from?
  2. Depressing, ain't it Sluffy, reading some of the comments from the Richard Heads on WW?
  3. Silly me. I thought it was about the champions of the people and whizzo business brains of the ST who through their brilliant and persistent diligence are going to bring the Fanzone back to its adoring followers. But its a fair point about somewhere for the kids, specially when its raining stair rods.
  4. That figures. Birds of a feather, eh?
  5. Don't know what he's into but he's as dumb as a door knob. Even dumber than Riggins44. Here are another couple of Lowbrow sketches. I know you'll love 'em: ‘’Ah, Riggins, there you are. Have you finished the homework I set for you last week?’’ ‘’Yes, Sir. I left it on your desk, Sir.’’ ‘’Well I haven’t seen it. Why would that be?’’ ‘’I don’t know, Sir. Maybe somebody stole it, Sir’’ ‘’Now who would want to steal your homework, Riggins?’’ ‘’Davies, Sir’’ ‘’Why would Davies want to do that, Riggins’’ ‘’I don’t know, Sir’’ ‘’I don’t want any more of that nonsense, Riggins. The question I asked was, if Bolton Wanderers lost £9million in 2013/14, how did it manage to pay the players monthly wages? So what was your answer, Riggins?’’ ‘’I can’t remember, Sir.’’ ‘’You can’t remember, Riggins? We can’t expect you to pass GCSE Business Studies if you forget things so quickly, can we Riggins?’’ ‘’I don’t know, Sir’’ ‘’Can you remember the school motto, Riggins?’’ ‘’Oh yes, Sir. Nil desperate dan, Sir.’’ ‘’Not quite, Riggins. Its nil desperandum. Its Latin and it means don’t despair. We don’t teach Latin at Lowbrow Academy but do you know what despair means, Riggins?’’ ‘’No, Sir’’ XXXXXXXXXXXXXX ‘’OK boys, you can go now. Riggins, would you stay behind please.’’ ‘’Who Sir, me Sir, I haven’t done anything Sir. It were Davies, Sir.’’ ‘’I want to speak to you about your homework, Riggins. You seem to be getting rather confused. I first asked you if, as reported, BW was losing £1m per month in 2014/15 how do you think the monthly wages got paid. Do you remember your answer Riggins?’’ ‘’Not exactly, Sir.’’ ‘’Well I do. It was something of a confusion, and you seem to be easily confused, but you came to the conclusion that Davies must have put in £12m in that year. Do you know why that was not a very good answer, Riggins?’’ ‘’No, Sir.’’ ‘’Well, Riggins. There are two reasons: 1. We haven’t seen any accounts for 2014/15, have we, so we don’t know that the £1m per month was accurate 2. We haven’t seen any accounts for 2014/15 so we don’t know if anyone else put any money in. Do you understand Riggins?’’ ‘’I think so, Sir’’ ‘’So I then asked you about the 2013/14 season and you said you’d given your answer but couldn’t remember what it was. But you hadn’t given an answer had you, Riggins? Did you not understand that the 2013/14 season was not the same as the 2014/15 season?’’ ‘’I don’t know, Sir.’’ ‘’Now I’d like to ask you about something else, Riggins. You keep accusing Davies of things that aren’t true. Why are you doing that Riggins?’’ ‘’Well I don’t like him, Sir. None of us like him, Sir. He doesn’t play with us, Sir.’’ ‘’Has he been giving you his pocket money, Riggins?’’ ‘’No, Sir.’’ ‘’Are you sure, Riggins?’’ ‘’He’s not given us much, Sir.’’ ‘’How much has he given you, Riggins?’’ ‘’I don’t know, Sir.’’ ‘’Can you not remember, Riggins?’’ ‘’No, Sir.’’ ‘’Have you been calling his father names, Riggins?’’ ‘’No, Sir. Not me Sir?’’ ‘’Have you been calling him a tax dodger, Riggins?’’ ‘’Well he is, Sir. My Dad says it stands to reason, Sir. His Dad lives in the Isle of Man, Sir, and he’s got this thingy somewhere, and he’s, and he’s and he’s..’’ ‘’Just a moment, Riggins. Are you sure this is what your father told you?’’ ‘’Oh yes’ Sir.’’ ‘’Is your father an expert on taxes?’’ ‘’Oh yes, Sir. My Dad knows everything, Sir.’’ ‘’Remind me what your father does for a living, Riggins.’’ ‘’He’s a taxi driver, Sir.’’ ‘’I see. Thank you, Riggins. I’ll have a word with Mr Handysides and see if we can get him to take you for woodwork. I don’t think Business Studies is going to be the best subject for you.’’
  6. Depressing, ain't it Sluffy, reading some of the comments from the Richard Heads on WW? Still not quite as bad as the Beeno. I wonder if any one of them used to contribute to the Beeno as Riggins44 or Riggermortis ,winner of the 2016 Bonehead of the Year award. Bonehead of the Year 2016 Good morning, boys. We have a special award to make this morning and some very special guests that I would like to welcome to Lowbrow Academy. Firstly I would like to introduce Mr Anderson-Shelter who is chairman of our governors and his very good friend and fellow governor, Mr Codswallop. Mr Anderson-Shelter and Mr Codswallop joined the Board of Governors in March this year following the retirement of our principle benefactor, Mr Davies. Mr Davies spent more than £175million in supporting the academy since 1999 and in appreciation our governors kindly presented him with a Poundland Gift Voucher to spend on anything he wanted. I am told that Mr Davies decided to spend it on a new trowel to use on his Isle of Man allotment and I hope that it has lasted the summer. A number of members of staff have left this year to continue their careers elsewhere and we wish them all well especially our former Games Teacher, Mr Lemon. We welcome his replacement, Mr Parkinson, who has been doing very well with the school football team after some early disappointing results against Cheltenham Ladies College and Blackpool Jobseekers Club. But it is in financial management that our new governors are showing their true mettle. Monthly losses have been slashed to £800,000; the audited accounts have been promised soon and are presently only nine months late and new accountants, Messrs Tickit, Blottit and Scarper, will soon be brought in to replace Dolittles. You may not have heard of TBS but they have some splendidly refurbished offices in the town thanks to the foresight and generosity of Council Leader, Mr Minor. Unfortunately I have some sad news to report. Mr Pennyfeather has recently been admitted for treatment in the Asylum for Broken Arithmetic Teachers. However ABAT has a very good record so we hope to be able to welcome Mr Pennyfeather back in the not too distant future. In the meantime Miss Pickles from the Domestic Science department will undertake Mr Pennyfeather’s duties. Now I would like to welcome the Chief Football Writer from the Bolton News, Mr Marc (I’m no business expert) IIes to present the BN 2016 Bonehead of the Year Award. Competition for this award is always intense but this year it has been fiercely contested and the judges have had a very difficult job picking a winner from so many deserving candidates. However one candidate stood out for consistent idiocy and stupidity throughout the year and I can now announce that this year’s worthy winner is Riggermortis. Please show your appreciation for our invited guests and winner of the BN 2016 Bonehead of the Year, Riggermortis.
  7. I think you are right again, Sluffy. Your memory ain't too bad is it?
  8. If as Sluffy says, you were previously a senior fire officer you plainly carried out vitally important work but might not have realised that the words you used in this instance were entirely inappropriate to the circumstance. You probably didn't mean it but the actual position did need to be made absolutely clear.
  9. I'm far from convinced that everyone has noticed the ST's shortcomings. Their attitude to everything has been scarcely different to Marc Iles (or any of FIBS) and he still seems to have his following, even on here. The Holdsworth/Anderson takeover was never reported with any sensible objectivity or competence and still hasn't been. If its up to Marc Iles or the ST, I doubt it ever will be. Holdsworth and Anderson could no more afford to pay BWFC's debts than they could walk across Morecambe Bay when the tide was in and that's not what either of them ever undertook to do. Iles, the ST and two members of the House of Lords seemed to believe that one of them had.
  10. Loads of stuff here that suggests ST governance is in need of improvement, Sluffy, but is there any point in listing it all.Their first Annual Return stated that they had an officer (the Treasurer) who wasn't a member of their committtee. I can't say I've come across that idea very often. I think the truth is that the ST has always struggled to find individuals with something to offer and a willingess to spend their valuable time with folk with very little business sense. And that is 'only the beginning' of reasons not to get involved with them.
  11. You could not be more wrong. You should not be making the inferences you have made and it should not need explaining but those who appoint Independent Examiners and those who accept appointment as Independent Examiners should reflect on whether they are independent or not. Its simply good governance and the very reason that the title 'Independent Examiner' exists.
  12. Woah there Micky. No suggestion of anything like that but an Independent Examiner should be independent.Too often they aren't.
  13. The last time the ST held an AGM, I seem to recall that its accounts were signed off by an 'Independent Examiner' who is also listed as Treasurer on the ST's website. (See the Board Members tab). Am I mistaken?
  14. You were born too late. Just imagine the Mancs anticipation in 1957 of the first game at OT under their new floodlights only for their party to be spoiled by BWFC. I was there that night and I expect there would have been more than a few who remembered the BEN headline in 1939 'Wanderers soldiers to play United munitions workers' brutally mocking MU's response to the war effort.
  15. Can't say I was keen on the Fanzone before but why would FV want to engage in any kind of business relationship with this bunch of losers? One of my former neighbours was very successful in business until he retired when he was less than fifty. He first set up in business in partnership with another guy when he was 18. It lasted six months before he decided that being hamstrung to anyone with different ideas on business wasn't smart. He never did it again. Think Holdsworth and Anderson.
  16. You are right. I had transposed 78P into 87P. Hard day yesterday! Kobeer's account does sound authoratitive. I don't suppose he could have transposed a figure too. 70P would have accorded with my recollection but I wasn't a shareholder at that time and there are bound to have been folk following it more closely than me. When Eddie and David Speakman came in with a combined £1.25m in 1999, the loans were subject to an entitlement to convert loans into shares at approximately the then going rate of 10P per share. The shares continued to fall in value though, before later being de-listed. As I've said before, there was anti-Davies, pro-Anderson sentiment expressed at the AGM in May of last year with KA stepping in to defend Eddie. I would have concluded that there was a reasonably good relationship between them at that time. This was before relegation had been avoided in AW's finest hour and, of course, before the toxicity of the players strike in the summer that followed
  17. According to Gerald Hayes the new shares were first listed at 87P. I coudn't argue with that but I only remember them moving in one direction - downwards. GH sold at 55P. Remember he and the other shareholders had got 1,135 shares in Burnden Leisure for every share in BWFC. I still have some old records but, without digging them out, after the shares had plummeted, I seem to recall ED securing an option to buy new shares at either 3P or 6P. The club needed the money but some angry words were exchanged at the meeting when the proposals were voted through. I noted at least one of those previously voicing objections was present at the AGM last year but said nothing on this most recent occasion. KA's response to the silly £900k complainant was to remind him and the audience just how much ED had spent on BWFC.
  18. RRF has always seemed like a bit of a dime-store to me. I'd have expected better but I honestly can't recall him ever coming up with anything thought out or original. Ask him a question and he dives for cover. Morizio's on a different level. He reminds me of an overtired kid trying to gain attention by screaming and throwing tantrums whilst the grown ups are trying to have a conversation. Anyway thanks for the links. I have a copy of Gerald Hayes book and by far the most interesting bit concerns the Mosaic reverse takeover. There was one guy at the AGM last year complaining to KA that it was ED's fault that he'd lost £900K. it was nonsense. He'd spent £10K on shares in 1993 and these shares rocketed to about £850K on the Mosaic merger. It was only temporary, of course. The shares had a consistently downward trajectory and weren't worth a lot when Eddie took over in 2003. If he'd had a bit more savvy he'd have cashed in when Gerald did and got back his £10K and a tidy profit whilst the going was good. The directors couldn't. They weren't allowed to sell their shares for two years and just had to watch as they plummeted.
  19. Up wi t'rocket and down wi t'stick. Nowt to do with ED, though some still try to make out that it did.
  20. The club was plainly under significant financial stress in 1999 but I cannot see how PG could have 'assumed control'. It seems to me more likely that the new money from Davies and Speakman was, in effect, conditional upon regime change. The old regime had done their best and tbf presided over the complete regeneration of the club but new money (and new drive?) was needed and they did not seem to be in a position to provide it. Gordon Shorrock was close to the old regime, it later emerging that he was on distinctly unfriendly terms with PG. Whether that was influenced by these or other events, I could not say. Did it affect the reporting? Maybe so, maybe not, but some of the crass reporting that later emerged could only be put down to fundamental failures at the BEN to understand the levels of support ED provided over the years. But it is true that prior to 2003, ED's financial support was on a smaller scale than it was later. Although his shares in Strix were increasing in value year-on-year there's no evidence that he had a mountain of cash or readily realisable investments until 2005 when he retired at a relatively young age selling most of his Strix shares for c. £100m.
  21. I'm sure you are right. Its a long time since my discussion with PG but there are aspects of it that I recall quite clearly and, as it comes back to me, PG did indicate a lengthy delay between his first discussion with Eddie and Eddie actually getting involved.
  22. Anyway back to the Times article. It says that Bolton lost the game 1-0 when Eddie was guest of the Man U chairman. PG didn't tell me which game or the result but there hadn't been many in the previous ten years and I had figured that it was most likely the Bob Taylor match. We had lost 1-0 at OT in an FA Cup tie in 1991 (which I had attended) but that seemed too distant and there had been a golden opportunity to buy a stake in 1993 when the club was buzzing and had a share issue to raise the funds to buy David Lee from Southampton. £60K would have bought a15% stake in 1993 and possibly a seat on the board as it did with Brian Scowcroft, one of the most vociferous objectors in 2003 when, according to the Times article, Eddie 'was invited by the board to take full control'. To put it another way, the club needed Eddie's money to keep paying the wages and have any chance of maintaining Premiership status which it did for the next nine years at a cost to Eddie, at that time, of c.£100m.
  23. I think you have missed my point. If FV have pots of money and £ms less is being paid to secured creditors there should be no need for the secured creditors to have to wait two years and the unsecured creditors should be getting quite a bit more than 35p in the £.
  24. Not sure where I would have found it on Google but you are right. I had an inkling when I wrote it that Super Bob's goal might not have been the equaliser. I shouldn't ignore my inklings, they rarely occur for no reason.
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