St. Sid Posted May 11, 2012 Report Share Posted May 11, 2012 Dave T just posted some incredible news on the SMiSA thread. http://www.blackandwhitearmy.com/forums/index.php/topic/33976-smisa-withdraws-in-principle-support-of-10000-hours-proposals/page__pid__956404#entry956404 Let the hysterics begin!!!! Quote Link to comment Share on other sites More sharing options...
billyg Posted May 11, 2012 Report Share Posted May 11, 2012 Indedible ? maybe ! Surprising ? no ! Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 11, 2012 Author Report Share Posted May 11, 2012 I don't go to the 10000 Hours forum...has there been any updates since the last meeting? Quote Link to comment Share on other sites More sharing options...
rea Posted May 11, 2012 Report Share Posted May 11, 2012 actually just updated the forum in last few minutes and the totalisers this morning Quote Link to comment Share on other sites More sharing options...
buddiecat Posted May 11, 2012 Report Share Posted May 11, 2012 from what i read smisa smell a rat and have backed out, and "encouraging" others to fully investigate before committing, sounds like they don't want anything to do with the cic and would advise against it, they will be getting invited to have tea and biscuits soon i reckon Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 12, 2012 Report Share Posted May 12, 2012 from what i read smisa smell a rat and have backed out, and "encouraging" others to fully investigate before committing, sounds like they don't want anything to do with the cic and would advise against it, they will be getting invited to have tea and biscuits soon i reckon Smisa won't back it, why should any other fans if Smisa offering to invest £50,000.00 can't get any sense out of 10000 hours. Beware these peeps trying to buy football clubs with other people's money Quote Link to comment Share on other sites More sharing options...
Grumpy Old Fan Posted May 13, 2012 Report Share Posted May 13, 2012 Am always wary of anything claiming to be independant and as such have never had much interest in whatSMISA might get up to. As I understand it though the members pay a subscripton and that goes to youth development. Does it? If so how can they possibly have funds of £50,000 as claimes on another thred as ready to invest or not as they see fit into CIC. If I were a member I would be very concerned if my contribution were not going straight to the club. Why does it have to sit in their account doing nothing for club? How much money do they need to have before it goes to club. Quote Link to comment Share on other sites More sharing options...
Reynard Posted May 13, 2012 Report Share Posted May 13, 2012 I had no interest in joining SMISA at the time and I have no interest in what they have to say now. What are they sitting on 50k of fans money for anyway? If they need ideas how to spend it they should give me a shout. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 13, 2012 Author Report Share Posted May 13, 2012 I do think that SMiSA have to be taken more seriously than the likes of somner9. And hope that this doesn't descend into a slag SMiSA situation as that will be damaging for both organisations. I thought there was some conflict in the SMiSA representatives "due dilligence" at the meeting and it seems to be repeated in the programme statements and then in the recent forum announcement. They seem to hinting that there is something amiss with the CIC / Co-op proposals without being clear on what the issue actually is; however they also talk about not being given enough information. At the moment their statement is pretty toothless and offers nothing to the discussion around the CIC / Co-op. It begs the question why make that statement at this point in the process? What purpose does it actually serve? Are they suggesting that 10000 Hours are about to run off with people's £10-a-month? That simply cannot happen without the members voting for 10000 Hours to be formed as an organisation and ratifying the constitution. Saying that "in principle you no longer support the CIC at this time" is hardly a paradign shift from "in principle we support the CIC at this time." I really don't see the point in it other than being a shot across the bows of 10000 Hours for more attention. Quote Link to comment Share on other sites More sharing options...
Reynard Posted May 13, 2012 Report Share Posted May 13, 2012 SMISA should buy 1500 grams of gold bullion. That would be a better investment than anything else at the moment. They could have a kilo bar and a half kilo bar or close to it. And I'll look after it for them. Quote Link to comment Share on other sites More sharing options...
chico Posted May 13, 2012 Report Share Posted May 13, 2012 Am always wary of anything claiming to be independant and as such have never had much interest in whatSMISA might get up to. As I understand it though the members pay a subscripton and that goes to youth development. Does it? If so how can they possibly have funds of £50,000 as claimes on another thred as ready to invest or not as they see fit into CIC. If I were a member I would be very concerned if my contribution were not going straight to the club. Why does it have to sit in their account doing nothing for club? How much money do they need to have before it goes to club. 'goes to the club' - aye. SMiSA have funds as they've been continually knocked back in their efforts to buy unissued shares in 'the club' Quote Link to comment Share on other sites More sharing options...
davidg Posted May 13, 2012 Report Share Posted May 13, 2012 The biggest worry I have for the CIC is if it fails in 5 years time, the fans wouldn't have a say in who the future owner of the club is. It would go to the highest bidder. RA has confirmed This. For that reason I'm still undecided about signing up. In some ways the CIC getting off the ground and gaining control could end up being a disaster for the club if the fans don't pledge their unconditional support for the life of the CIC debt. It's a real shame that there isn't a consortium of Saints fans with the cash required to buy the 52%. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 13, 2012 Report Share Posted May 13, 2012 always wary of a new poster weighing in with a specific agenda. sounds very 10000 hours dummy spit out ish! Shame on the posters questioning Smisa's agenda and intent. they've been there through thick and thin for this club, unlike the fan boy come lately's who are under the Whyte wizard's spell. 10000 hours have shown to be all fur coat and no knickers. scratch the surface and it's just a veneer of three organisations trying to get their hands on the assets of SMFC to make money for themselves. Smisa have and will continue to put money into SMFC, 10000 hours, Kibble, The God Squad are all intent in taking money out, but getting others to create that possibility. Quote Link to comment Share on other sites More sharing options...
Reynard Posted May 13, 2012 Report Share Posted May 13, 2012 'goes to the club' - aye. SMiSA have funds as they've been continually knocked back in their efforts to buy unissued shares in 'the club' They could buy McGeochs off him. I,m sure he will be easy to deal with. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 13, 2012 Author Report Share Posted May 13, 2012 The biggest worry I have for the CIC is if it fails in 5 years time, the fans wouldn't have a say in who the future owner of the club is. It would go to the highest bidder. RA has confirmed This. For that reason I'm still undecided about signing up. In some ways the CIC getting off the ground and gaining control could end up being a disaster for the club if the fans don't pledge their unconditional support for the life of the CIC debt. It's a real shame that there isn't a consortium of Saints fans with the cash required to buy the 52%. That bottom line is the bottom line - "It's a real shame that there isn't a consortium of Saints fans with the cash required to buy the 52%." Fan ownership with Saints fans putting in the required cash would be great. In reality we might even struggle to hit the numbers required with the additional £1M investment from the social funders. Fan ownership is still very much my preference to the club being sold to an unknown entity. I also don't think it is ideal as you could end up with all manner of arseholes on the BoD of not only the CIC / Co-op but also the SMFC BoD. However, at least they will be our aresholes - and there will be some form of sanity check on them through the voting process. However, a quick look at the dishonourable members for Renfrewshire Cnutcil tells its own story about how democracy can work. We've already had KMG fannying around with the club......we've had dodgy characters from Liverpool declaring their interest after being chased by QoS. If the CIC keeps those sort of jokers away from the club for a while longer until somebody decent comes along then I'll be happy enough with that. If we can get the CIC / Co-op to work all the better. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 13, 2012 Report Share Posted May 13, 2012 The bottom line is that 10000 hours and the selling consortium are adamant that if it's not done by May then it won't be happening! laughing my f**king arse aff Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 13, 2012 Author Report Share Posted May 13, 2012 The bottom line is that 10000 hours and the selling consortium are adamant that if it's not done by May then it won't be happening! laughing my f**king arse aff Why would you be laughing your arse off if it doesn't happen? Because you made a bawz of yourself with the "I've been threatenedby the club" nonsense. It is not about you somner9. It is about the future of our club and if the CIC goes we will be still be up for sale and the uncertainty will continue. That is not good news for the club or any supporter. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 13, 2012 Report Share Posted May 13, 2012 Why would you be laughing your arse off if it doesn't happen? Because you made a bawz of yourself with the "I've been threatenedby the club" nonsense. It is not about you somner9. It is about the future of our club and if the CIC goes we will be still be up for sale and the uncertainty will continue. That is not good news for the club or any supporter. That was last May dough heid! yeah your probably right we should all stump up so the church, Rea and Kibbles can do what they want with our club, why on earth we should expect any buyer to think about the football is beyond me. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 13, 2012 Author Report Share Posted May 13, 2012 That was last May dough heid! yeah your probably right we should all stump up so the church, Rea and Kibbles can do what they want with our club, why on earth we should expect any buyer to think about the football is beyond me. I remember when you used to make the odd valid point...now your just a rager. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted May 13, 2012 Report Share Posted May 13, 2012 The biggest worry I have for the CIC is if it fails in 5 years time, the fans wouldn't have a say in who the future owner of the club is. It would go to the highest bidder. RA has confirmed This. For that reason I'm still undecided about signing up. That's fair enough David, but how much say do you currently have in who Gilmour and the consortium sell to? Quote Link to comment Share on other sites More sharing options...
davidg Posted May 13, 2012 Report Share Posted May 13, 2012 That's fair enough David, but how much say do you currently have in who Gilmour and the consortium sell to? None, but I'm sure SG & co wouldn't sell to the wrong hands. Aren't you? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 13, 2012 Author Report Share Posted May 13, 2012 None, but I'm sure SG & co wouldn't sell to the wrong hands. Aren't you? Most of us are; however the somner9 types claimed that at least one member of the consortium was starting to get impatient and wanted to sell to KMG's scumgers consortium. I realise their credability is in the shitter; however mibbae there is no smoke without fire on that front. Quote Link to comment Share on other sites More sharing options...
reborn saint Posted May 13, 2012 Report Share Posted May 13, 2012 actually just updated the forum in last few minutes and the totalisers this morning well done...once every couple of months is great for PR Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted May 13, 2012 Report Share Posted May 13, 2012 None, but I'm sure SG & co wouldn't sell to the wrong hands. Aren't you? No to be honest. Look, everyone knows my history with Gilmour and McAusland anyway and they know I don't particularly trust or have any time for either of them - but even putting that aside you've got a situation amongst the shareholders where one major shareholder has been booted off the board at an EGM, and another is reportedly desperate to sell. You've also got at least one other major shareholder who has been put in a position by the formation of the consortium where he stands to lose quite a lot of money if the 10000hours takeover happens. Is the consortium as tight as ever? Is there a possibility that another offer from the "wrong" kind of person could split the consortium and create a new selling consortium? The 10000hours bid is probably the only opportunity the consortium have of getting anything like their asking price for the club. If Rangers are liquidated and don't play in the SPL the financial consequences for every club in the SPL has already been clearly stated and that's only going to put further pressure on the valuation of the club. If the 10000hours bid also collapses how many major shareholders would be happy to wait for the next "right hands" buyer to come along? Remember many Rangers fans would have claimed that David Murray wouldn't sell to the wrong hands either - but face with financial pressure in his own business world he opted to offload to the only target available. Who is to say that there aren't St Mirren shareholders of a similar mindset these days. Quote Link to comment Share on other sites More sharing options...
Big Fras Posted May 14, 2012 Report Share Posted May 14, 2012 That's fair enough David, but how much say do you currently have in who Gilmour and the consortium sell to? They have repeatedly stated (so it must be true) that they "won't sell to anyone who doesn't6 have the best interests of St.Mirren at heart". Thereafter, whether it be CiC, or anyone else who buys from SG, they will probably sell to whoever they like, once they want to sell the club........which hopefully wopuldn't be for some time, regardless of owner, as this is tortuous sh*t. Quote Link to comment Share on other sites More sharing options...
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