Quote: Prince Buster "Don't companies go bankrupt in your world'"
That did cause me to chuckle… but ok I will engage a moment…
1) sometimes I live in my world ( when I’m asleep and dreaming.. when I’m alone walking on the beach lost in my own thoughts… or meditating) but mostly I live in THE world, the one where there are laws of science, economics, and guiding principles such as psychology, sociology, ethics and morals… on top of that there are laws of the country and personal value sets.
2) yes, in that world, companies become insolvent (as trinity have in the past) individuals are declared bankrupt… and associated villains are prosecuted for gross negligence and impropriety.
2.a I have never heard of anyone being found guilty of living within their means, either in the world of business or other worldly dealings.
3) securing ownership of the ground as a tangible asset - loans and supporting guarantees are not provided on the basis of a nod of the head. It requires a sound and solid plan, risk analysis and deep scrutiny. As with most property, and land purchases… the long term expectation is that the value of the property will grow whilst, over time, the loan will decrease. Economics1.01
4) finally securing the developer investment (supposedly committed over a decade ago by the cabal of treacherous business leaders and advisors) to build a money earning capability that goes beyond (way beyond) a similar capability of the Rugby League business alone. Asset utilisation and realisation 1.01.
5) It is a board of directors legal responsibility to ensure that the business they are responsible for is viable and well managed… so the first duty of the board is sustainability… then build success using systems and principles that are commensurate with and to laws, rules and ethics.
I posted a piece on, and from within, the Salford club a couple of days ago… their sustainable future is now reliant on increased community investment.. (in a form of Co-operative… if you will) and is destabilised by the lack of a secure tenure for a stadium… an uncertainty which stands stark and clear in their narrative. Should their model break (and their appeal seems to suggest that without further investment, it surely will) they have no asset base, business alternatives or funding streams to fall back on.
As I said I have no axe to grind with anyone else opinions, but when faced with a situation, I try to bring to bear my experience, accumulated knowledge and qualified expertise in drawing a conclusion and forming an opinion…
although from memory, I believe there is a pervading political view in the UK that the population should no longer listen to such people, as we have, apparently, all had enough of experts!
So maybe I should stop listening to this self reflection in my musings!?!?