Mick

No he didn't.

What a shit end to another shit week in the life of Newcastle United. I can't put my anger into words yet, Roeder hasn't got a clue and the person who appointed him needs castrating. Clueless team selection, clueless substitutions which would look more appropriate when reading the Viz. I hope Moore was injured or Roeder should be sacked for making that decision alone. He hadn’t a clue what to do until the fans gave him a nudge and he still got it wrong by taking the wrong players off. He hasn’t got a bastard clue how to change a game in our favour. Roll on his excuses for this shambles. This club will not move forwards with Roeder but we’ll also not move forwards while the person who appointed him and Souness is likely to appoint the successor to Roeder. I really think that Roeder has now lost most of the players, he’s way out of his depth.

Is re-financing not going to bring it's own problems? I would guess that they'll try to bring any debt together into one loan which they'll pay off over a longer period, a longer period will probably cost more as they'll end up paying a higher interest rate, also, interest rates have been increased since the original stadium expansion was carried out, I'm guessing.

No. Even on a very basic level our club can re-finance against future season ticket sales. I would have thought that they could do this but only up to a reasonable limit because season ticket sales are not guaranteed.

I think they're OK as long as they keep paying off the debt. The players could be sold off at some stage if things got too bad, I'm not saying for one minute that this will happen to us, I doubt that it could. I've worked for a company that went into voluntary liquidation before things got too bad, the directors got away without any penalties because they acted in a responsible manner and didn't trade on for too long and they didn't do anything like removing assets from the company. I would think that they could have carried on trading if they knew that they were about to get some kind of financial windfall, I suppose it’s all about acting responsibly.

I've just done a quick google and Wikipedia has this: http://en.wikipedia.org/wiki/Trading_while_insolvent Trading while insolvent In many legal systems, once a company becomes insolvent, the directors have to take particular care. Under UK law, trading while insolvent can trigger several provisions under the Insolvency Act 1986 which may have the effect of making directors of a company personally liable to contribute to the assets of a company. The relevant provisions of the Insolvency Act 1986 include: Wrongful trading - Section 214 Transaction at an undervalue - Section 238 Preferences - Section 239 Extortionate credit transactions - Section 244 Under wrongful trading legislation in the UK, if the company continues to trade while it is insolvent the directors of the company may become personally liable to contribute to the company's assets and help meet the deficit to unsecured creditors if the company's financial position is made worse by the directors continuing to trade instead of putting the company immediately into liquidation. In most legal systems, the liability in respect of other transactions only extends for a certain period of time prior to the company going into liquidation. In the UK, directors are exposed in respect of transaction at an undervalue, preferences, and extortionate credit transactions if the transaction occurred: a) while the company was insolvent; and b) within 2 years before the onset of liquidation if the transaction was with a connected person, and 6 months if the transaction was with an unconnected person. Directors who continue to trade while insolvent may face disqualification under the Company Directors Disqualification Act 1986. Under the provision of this act, when a company goes into liquidation, the liquidator must make a report to the Disqualification Unit of the Department of Trade and Industry on the conduct of all directors. If the liquidator has come across conduct which makes the director unfit to be involved in the management of a company in the future (which things would include trading while insolvent) the DTI will apply to the Court for an order disqualifying the director or directors from acting as a company director for a certain period. Many other countries have similar laws, often referred to as 'insolvent trading' or wrongful trading.

I would have thought any personal liability is small due to the club being a limited company. It's interesting though about trading while insolvent. If a director knowingly trades while insolvent and a creditor is refused payment, he can seek personal recompense from the directors. The 'limited' nature of the company as a seperate legal entity ceases at this point. The Smash Robot will be able to explain it far better than I could. I understand that, I'd never really given it any thought until macbeth raised it and you replied. I wonder if that's why the club are looking to restructure the debt? They could see a problem looming so are trying to reduce debt payments to head that situation off, it's an interesting point.

The only thing comical is the campaign you've just invented, is it a one man thing or is anybody invited?

I would have thought any personal liability is small due to the club being a limited company. It's interesting though about trading while insolvent.

Hopefully yuo will find that your recollection of memory is incorrect. http://www.newcastle-online.com/nufcforum/index.php?topic=37154.msg735298#msg735298 I can't wait for the third version of that post.

I don't think he had many problems with his hamstrings at Real, that was probably due to him not playing as many games. Getting back to the work he's been doing, I hope it works but I'm sure this sort of thing was tried at Liverpool.

I did think of him, it must be an age thing.

I'm sure that him coming back "stronger than before," isn't going to happen, unless he's operated on his hamstrings while inside his knee.

Looking at the results, apart from the loss, we actually played something like 30% more games than the previous seasons first half yet we only had a rise of 9% from matchday revenue. We still don't use injuries as an excuse but we lost 250 senior appearances due to this. We were again involved with "The Match." Alan Shearer retired. One operational highlight was the appointment of Glenn Roeder, another highlight was being 13th in the league in December. We're going to restructure the club debt. As for the wording regarding the possible takeovers, did we get an offer which wasn't formal? Maybe I've just seen too much in the wording used.

I hope that kick was for me.

20 hours later and I still can't tell if that's sarcasm or not.

Is anything going right for the club? We've lost more money while reducing our squad numbers even further. We may have earned more because we played in Europe but we'll earn less for the second half as we'll get less prize money for what looks like being a lower final league position this season.

Excellent, that percentage of points gives him a better record than the manager of Boro, Villa, Man City, Sheff Utd, West Ham and Watford.

Nothing in the "typical honeymoon period" came as a surprise, I was giving it as a reason to sack Souness.

Sorry, he's lost the plot now, he's full of shit. "I'm quite happy to be judged by sensible people, by football people, on what has happened this season. Sensible people, football people, think I've done more than okay this season. The same "sensible people, football people" also told us that Souness was doing a good job and should be given more time, absolute horse shit. He's starting to look worse than Souness now, somebody said that he was arrogant the other day, I've got to agree. He's never going to change until the "sensible people, football people" tell him he's doing something wrong. Jesus wept, I really couldn't imagine putting myself in his position and coming out with this.

If anybody doesn't want Mourinho or the success that he might bring because we'd be hated then they are mad, I wouldn't give a shit if people hated us for it, being hated as a club hurts less than constant failure. I'd have him here in an instant and wouldn't even think what others thought about it, bollocks to the lot of them.

Injuries have kept the team from playing together, you're right. We've also has times when certain players have returned from injury and walked straight back in for no reason other than they had to play because of who they are. Injuries can't be used as an excuse, well they can but it's not a valid one.

I think you're being too kind to Souness (spit), he was no better than Roeder, I think time heals.

Gazza?

I would rather that if Roeder was going to say something then he'd admit making mistakes rather than trying to tell us how good he is, I don't have a problem with people admitting to making mistakes, we all make them. I wouldn't expect him to come out and tell us that he was s***, he'd be crazy to do that. To try and big himself up the way he has in that article, if true is way over the top. I would have more faith in him if he thought he'd made mistakes but felt he had made them and learned form them, maybe he knows about his mistakes and learned from them, we'll see. I do think he'll be here in August unless something goes seriously wrong, something like no more points this season which I don't think will happen. This coming transfer window is the one he's got to get right to keep him in the job. To do that he's got to go and find more players who make an impact the way Martins has, by that I mean the number of goals he's scored. If he brings in more Repkas, Hutchisons and Duffs then he'll probably go. He's almost certain to get some players wrong, all managers do that. Where Roeder will also possibly shoot himself in the foot is what he does when he gets the wrong signing, will he feel he has to play his players because he's admitting to getting it wrong if he doesn't? You've mentioned that Martins and Owen might not work together, will Roeder keep playing them together if things don't go well with those two just because he's spent a lot of money on one of them? Roeder is unlikely to go before August, the sad thing is that if his signings don't work then he'll probably not last all of next season then we'll start the whole rebuilding process all over again.