| West Brom Finances on 18:47 - Dec 28 with 3305 views | Northernr |
That's the same off-the-shelf company Derby owed £20m to as well.
A reminder that the chairman took £6m out of West Brom last year to prop up his other failing businesses, promising it would be paid back at this point to fund January transfer activity. Instead, this.
They badly need to get promoted again very, very quickly indeed or there's another Derby/Bolton/Sheff Wed coming up there. |  | |  |
| West Brom Finances on 19:05 - Dec 28 with 3216 views | BazzaInTheLoft |
| West Brom Finances on 18:47 - Dec 28 by Northernr |
That's the same off-the-shelf company Derby owed £20m to as well.
A reminder that the chairman took £6m out of West Brom last year to prop up his other failing businesses, promising it would be paid back at this point to fund January transfer activity. Instead, this.
They badly need to get promoted again very, very quickly indeed or there's another Derby/Bolton/Sheff Wed coming up there. |
Sounds like another ‘fit & proper’ ownership structure.
Reform can’t come quick enough. |  | | |
| West Brom Finances on 19:52 - Dec 28 with 3053 views | themodfather |
fans wanted FAIR PLAY to level the playing field and even things up, it failed terribly and the so called big clubs got bigger and further out of reach. fit and proper, var, all bow locks. football as we knew it is long gone.
to think man city and chelsea would yo yo , arsenal were a cup team
teams like saints, ipswich, watford and qpr came runners up to the mighty, then, liverpool
will we see the likes of that again? |  | | |
| West Brom Finances on 20:06 - Dec 28 with 2996 views | BazzaInTheLoft |
| West Brom Finances on 19:52 - Dec 28 by themodfather |
fans wanted FAIR PLAY to level the playing field and even things up, it failed terribly and the so called big clubs got bigger and further out of reach. fit and proper, var, all bow locks. football as we knew it is long gone.
to think man city and chelsea would yo yo , arsenal were a cup team
teams like saints, ipswich, watford and qpr came runners up to the mighty, then, liverpool
will we see the likes of that again? |
Football clubs went out of business in the old days too be fair. | | | |
| West Brom Finances on 20:28 - Dec 28 with 2898 views | TacticalR |
On the pitch there has been a revival under Corberán. West Brom are top of the form table having won 5 out of the last 6 (including beating us last month). |  |
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| West Brom Finances on 20:35 - Dec 28 with 2878 views | Match82 |
| West Brom Finances on 19:52 - Dec 28 by themodfather |
fans wanted FAIR PLAY to level the playing field and even things up, it failed terribly and the so called big clubs got bigger and further out of reach. fit and proper, var, all bow locks. football as we knew it is long gone.
to think man city and chelsea would yo yo , arsenal were a cup team
teams like saints, ipswich, watford and qpr came runners up to the mighty, then, liverpool
will we see the likes of that again? |
Don't disagree with your point, but we all probably would have said the same thing in 2015, then Leicester came along... |  | | |
| West Brom Finances on 21:01 - Dec 28 with 2803 views | Antti_Heinola |
| West Brom Finances on 19:52 - Dec 28 by themodfather |
fans wanted FAIR PLAY to level the playing field and even things up, it failed terribly and the so called big clubs got bigger and further out of reach. fit and proper, var, all bow locks. football as we knew it is long gone.
to think man city and chelsea would yo yo , arsenal were a cup team
teams like saints, ipswich, watford and qpr came runners up to the mighty, then, liverpool
will we see the likes of that again? |
Great points apart from ‘Arsenal were a cup team’
Ever heard of Herbert chapman? 😂 |  |
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| West Brom Finances on 21:10 - Dec 28 with 2750 views | SimonD |
| West Brom Finances on 18:47 - Dec 28 by Northernr |
That's the same off-the-shelf company Derby owed £20m to as well.
A reminder that the chairman took £6m out of West Brom last year to prop up his other failing businesses, promising it would be paid back at this point to fund January transfer activity. Instead, this.
They badly need to get promoted again very, very quickly indeed or there's another Derby/Bolton/Sheff Wed coming up there. |
It does make you wonder what Michael Dell is doing lending money to football clubs, it is not exactly what made him his money in the first place and certainly not a life long passion for him. | | | |
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| West Brom Finances on 21:35 - Dec 28 with 2621 views | TacticalR |
| West Brom Finances on 21:10 - Dec 28 by SimonD |
It does make you wonder what Michael Dell is doing lending money to football clubs, it is not exactly what made him his money in the first place and certainly not a life long passion for him. |
This seems quite common. At the moment I am reading 'The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most', and the authors describe how Jack Welch decided to recast General Electric as a financial services company:
'When he took over as GE’s CEO in 1981, Jack Welch was eager to transform the company and identify new opportunities for growth. One of his early speeches as CEO was titled “Growing Fast in a Slow-Growth Economy,” and he took aggressive steps to make his topic a reality. Welch expanded GE into new lines of business, most notably financial services, by acquiring hundreds of companies. In doing so, he set fire to GE’s traditional image as a steady and reliable employer. Each year, “Neutron Jack” fired the bottom 10 percent of the company’s managers through his so-called rank-and-yank program, an approach that significantly reduced GE’s overall workforce.
Through Welch’s recasting of the stable manufacturing giant as a financial juggernaut, GE posted some amazing numbers over the course of his twenty-year reign. The company grew its net income from $1.65 billion in 1981 to $12.7 billion in 2000, and “rightsized” its workforce from 404,000 to 313,000. On the stock exchanges, GE’s value rose 4,000 percent. The profits came from Welch’s decisive turn away from manufacturing (hence the layoffs) and toward financial services. GE Capital’s presence in insurance and mortgages, as well as financing for aviation and energy, was, for a few years, well timed to ride the wave of American financial growth.
But the era of fast growth didn’t last. When Welch stepped down in 2001, his protégé and successor Jeffrey Immelt took over a company sprinting into a briar patch. Cruel reality hit in 2008, when GE stock plunged from $37.10 to $8.50 per share. The company was effectively saved from disaster by emergency investments, including a $3 billion infusion from Warren Buffett.
As the wreckage of the 2008 financial disaster became clearer, GE’s aggressive move into financial services in the mid-1990s looked worse and worse. It’s easy to see why Welch found this strategy appealing–after all, Fortune magazine named the energy financing giant Enron as America’s “most innovative company” each year from 1995 to 2000. It was obvious that GE needed to find new sources of revenue and new strategies for regaining the confidence of investors.'
If manufacturing capitalists can't make sufficient profits in manufacturing then they will use their capital for speculation. [Post edited 29 Dec 2022 14:53]
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| West Brom Finances on 21:41 - Dec 28 with 2589 views | LazyFan |
If Daryl Dike did not have these recurring injuries, then they would be much higher up the table.
They are rumoured to have spent £7m on him, which is now hurting them big time.
Not to mention the high wages and signing-on fees for Swift, Reach, Pieters, Kelly and Wallace even though they supposedly got them for free as they were out of contract. And then there are the existing no doubt prem wages of Diangana, Grant, Livermore, and Zohore!
Lots of those players are well over 28 and not really saleable assets. Prem money running out soon. They need to do a Reading and manage to be bust but not bust somehow. I still don't know how Reading manages it. This is one to watch, especially next season! |  |
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| West Brom Finances on 22:01 - Dec 28 with 2501 views | BazzaInTheLoft |
| West Brom Finances on 21:35 - Dec 28 by TacticalR |
This seems quite common. At the moment I am reading 'The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most', and the authors describe how Jack Welch decided to recast General Electric as a financial services company:
'When he took over as GE’s CEO in 1981, Jack Welch was eager to transform the company and identify new opportunities for growth. One of his early speeches as CEO was titled “Growing Fast in a Slow-Growth Economy,” and he took aggressive steps to make his topic a reality. Welch expanded GE into new lines of business, most notably financial services, by acquiring hundreds of companies. In doing so, he set fire to GE’s traditional image as a steady and reliable employer. Each year, “Neutron Jack” fired the bottom 10 percent of the company’s managers through his so-called rank-and-yank program, an approach that significantly reduced GE’s overall workforce.
Through Welch’s recasting of the stable manufacturing giant as a financial juggernaut, GE posted some amazing numbers over the course of his twenty-year reign. The company grew its net income from $1.65 billion in 1981 to $12.7 billion in 2000, and “rightsized” its workforce from 404,000 to 313,000. On the stock exchanges, GE’s value rose 4,000 percent. The profits came from Welch’s decisive turn away from manufacturing (hence the layoffs) and toward financial services. GE Capital’s presence in insurance and mortgages, as well as financing for aviation and energy, was, for a few years, well timed to ride the wave of American financial growth.
But the era of fast growth didn’t last. When Welch stepped down in 2001, his protégé and successor Jeffrey Immelt took over a company sprinting into a briar patch. Cruel reality hit in 2008, when GE stock plunged from $37.10 to $8.50 per share. The company was effectively saved from disaster by emergency investments, including a $3 billion infusion from Warren Buffett.
As the wreckage of the 2008 financial disaster became clearer, GE’s aggressive move into financial services in the mid-1990s looked worse and worse. It’s easy to see why Welch found this strategy appealing–after all, Fortune magazine named the energy financing giant Enron as America’s “most innovative company” each year from 1995 to 2000. It was obvious that GE needed to find new sources of revenue and new strategies for regaining the confidence of investors.'
If manufacturing capitalists can't make sufficient profits in manufacturing then they will use their capital for speculation. [Post edited 29 Dec 2022 14:53]
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Is there anywhere else on the internet you can listen to 90s House Music while correctly cooking your Brussels and learning about failed corporate economic strategy all at the same time from the same website? | | | |
| West Brom Finances on 22:18 - Dec 28 with 2399 views | Northernr |
| West Brom Finances on 20:28 - Dec 28 by TacticalR |
On the pitch there has been a revival under Corberán. West Brom are top of the form table having won 5 out of the last 6 (including beating us last month). |
He is a big roll of the dice. It needs to be a promotion, and it needs to be basically yesterday. | | | |
| West Brom Finances on 22:19 - Dec 28 with 2385 views | Boston |
| West Brom Finances on 21:35 - Dec 28 by TacticalR |
This seems quite common. At the moment I am reading 'The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most', and the authors describe how Jack Welch decided to recast General Electric as a financial services company:
'When he took over as GE’s CEO in 1981, Jack Welch was eager to transform the company and identify new opportunities for growth. One of his early speeches as CEO was titled “Growing Fast in a Slow-Growth Economy,” and he took aggressive steps to make his topic a reality. Welch expanded GE into new lines of business, most notably financial services, by acquiring hundreds of companies. In doing so, he set fire to GE’s traditional image as a steady and reliable employer. Each year, “Neutron Jack” fired the bottom 10 percent of the company’s managers through his so-called rank-and-yank program, an approach that significantly reduced GE’s overall workforce.
Through Welch’s recasting of the stable manufacturing giant as a financial juggernaut, GE posted some amazing numbers over the course of his twenty-year reign. The company grew its net income from $1.65 billion in 1981 to $12.7 billion in 2000, and “rightsized” its workforce from 404,000 to 313,000. On the stock exchanges, GE’s value rose 4,000 percent. The profits came from Welch’s decisive turn away from manufacturing (hence the layoffs) and toward financial services. GE Capital’s presence in insurance and mortgages, as well as financing for aviation and energy, was, for a few years, well timed to ride the wave of American financial growth.
But the era of fast growth didn’t last. When Welch stepped down in 2001, his protégé and successor Jeffrey Immelt took over a company sprinting into a briar patch. Cruel reality hit in 2008, when GE stock plunged from $37.10 to $8.50 per share. The company was effectively saved from disaster by emergency investments, including a $3 billion infusion from Warren Buffett.
As the wreckage of the 2008 financial disaster became clearer, GE’s aggressive move into financial services in the mid-1990s looked worse and worse. It’s easy to see why Welch found this strategy appealing–after all, Fortune magazine named the energy financing giant Enron as America’s “most innovative company” each year from 1995 to 2000. It was obvious that GE needed to find new sources of revenue and new strategies for regaining the confidence of investors.'
If manufacturing capitalists can't make sufficient profits in manufacturing then they will use their capital for speculation. [Post edited 29 Dec 2022 14:53]
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Capital is used for speculation. Forty to forty-five per cent of all global managed assets are pension funds. These funds look to make returns, in the case of many union funds, they promise 8% to their members. Business managers are not known for caring how or where that return comes from. | |
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| West Brom Finances on 22:22 - Dec 28 with 2383 views | NewBee |
| West Brom Finances on 21:10 - Dec 28 by SimonD |
It does make you wonder what Michael Dell is doing lending money to football clubs, it is not exactly what made him his money in the first place and certainly not a life long passion for him. |
To add to TacticalR's interesting post, I've long felt that these billionaires eventually become so convinced of their own genius that they think they can do everything, even with no prior experience in a new field - see eg Musk buying Twitter.
And this is made worse by the way they end up being surrounded by Yes Men: "Yes, Elon, thats a GREAT idea!"
Though tbf to Dell, he was lending money to American sports clubs before he got into English sport, using the same model eg lending to clubs at 9%, when the Base Rate was 0.5%. The risk comes from the borrower going bust - they wouldn't be borrowing from Dell unless they were already stretched - except that presumably he is clever enough to have cast iron security for the loan.
For example, afaik he came out of the Derby debacle ok, since he had a lien over Pride Park, which even Mel Morris couldn't renege on.
Ironically Morris himself is another example of someone who was very successful in one field (video games), before falling on his arse when he got into another (football).
While possibly the best example was Sir Jack Hayward, though to be fair to him, he was motivated by love of the club:
"In 1990 [Hayward] fulfilled his childhood dream and bought the struggling Wolverhampton Wanderers for £2.1m. Over the next 17 years he spent more than £70m on the team and a new stadium. But he had only limited success in restoring the club to its former glories. Wolves won promotion to the Premier Division in 2003, but were relegated the following season."
https://www.theguardian.com/football/2015/jan/15/sir-jack-hayward
Though in respect of his involvement with Wolves, he at least had the good grace and self awareness to call himself 'The Golden Tit' lol. | | | |
| West Brom Finances on 09:58 - Dec 29 with 1834 views | davman |
| West Brom Finances on 20:28 - Dec 28 by TacticalR |
On the pitch there has been a revival under Corberán. West Brom are top of the form table having won 5 out of the last 6 (including beating us last month). |
Yes, you see other teams CAN have nice things.
They fall into a bucket of shite and will come out smelling of roses, we fall into a bucket of t*ts and come out sucking our thumbs.
They need to go up, so they will. We need to go up, so we won't.
Just the way of this world...
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| West Brom Finances on 10:01 - Dec 29 with 1823 views | Paddyhoops |
| West Brom Finances on 22:22 - Dec 28 by NewBee |
To add to TacticalR's interesting post, I've long felt that these billionaires eventually become so convinced of their own genius that they think they can do everything, even with no prior experience in a new field - see eg Musk buying Twitter.
And this is made worse by the way they end up being surrounded by Yes Men: "Yes, Elon, thats a GREAT idea!"
Though tbf to Dell, he was lending money to American sports clubs before he got into English sport, using the same model eg lending to clubs at 9%, when the Base Rate was 0.5%. The risk comes from the borrower going bust - they wouldn't be borrowing from Dell unless they were already stretched - except that presumably he is clever enough to have cast iron security for the loan.
For example, afaik he came out of the Derby debacle ok, since he had a lien over Pride Park, which even Mel Morris couldn't renege on.
Ironically Morris himself is another example of someone who was very successful in one field (video games), before falling on his arse when he got into another (football).
While possibly the best example was Sir Jack Hayward, though to be fair to him, he was motivated by love of the club:
"In 1990 [Hayward] fulfilled his childhood dream and bought the struggling Wolverhampton Wanderers for £2.1m. Over the next 17 years he spent more than £70m on the team and a new stadium. But he had only limited success in restoring the club to its former glories. Wolves won promotion to the Premier Division in 2003, but were relegated the following season."
https://www.theguardian.com/football/2015/jan/15/sir-jack-hayward
Though in respect of his involvement with Wolves, he at least had the good grace and self awareness to call himself 'The Golden Tit' lol. |
Continuing calls for our rich owners to spend big always make me laugh.
When you see the calibre of owners at other clubs , I feel smugly satisfied with our lot who lose 10 million a year to keep us afloat. | | | |
| West Brom Finances on 10:49 - Dec 29 with 1700 views | DWQPR |
| West Brom Finances on 10:01 - Dec 29 by Paddyhoops |
Continuing calls for our rich owners to spend big always make me laugh.
When you see the calibre of owners at other clubs , I feel smugly satisfied with our lot who lose 10 million a year to keep us afloat. |
Totally agree. Whatever mistakes our owners have made they have been pretty damned good in not only keeping the club afloat but also to improve the infrastructure such as the new training ground. I’m sure that they have done more than their level best in trying to secure land for a new stadium and I certainly feel that they remain confident in their quest as they certainly seem to see this as the springboard for a much more sustainable and successful future. And this in the face of in the case of H&F council some pretty mediocre land management decisions. I still wonder with the developments the club has been involved with at Old Oak will form part of the whole revenue of the club in the future. This year will be the first proper year that income for rents and leaseholds will come on stream. | |
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| West Brom Finances on 11:57 - Dec 29 with 1589 views | Paddyhoops |
| West Brom Finances on 10:49 - Dec 29 by DWQPR |
Totally agree. Whatever mistakes our owners have made they have been pretty damned good in not only keeping the club afloat but also to improve the infrastructure such as the new training ground. I’m sure that they have done more than their level best in trying to secure land for a new stadium and I certainly feel that they remain confident in their quest as they certainly seem to see this as the springboard for a much more sustainable and successful future. And this in the face of in the case of H&F council some pretty mediocre land management decisions. I still wonder with the developments the club has been involved with at Old Oak will form part of the whole revenue of the club in the future. This year will be the first proper year that income for rents and leaseholds will come on stream. |
I think the owners will have been encouraged by the respond to the bond scheme which was terrific.
Can’t help thinking if there was a lukewarm response , their interest in the club might have waned.
The WBA situation is just another monumental EFL f** k up to add to thier long list! | | | |
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