THE OFFICIAL: "LET'S ALL LAUGH AT HEARTS"

[CtS]

Attendance 6,844

 

 

Time to start thinking about re-developing Tynecastle, or a permanent move to Murrayfield.  The jambos love these big European nights.

 

 

[Aberdeen_Ladette]

Not a good day for the jambos...

 

Out of the cup v Airdrie  (who played with 10 men for 13 mins)     

 

.... after hearing earlier today that Hearts made a loss of almost £13m, with total current debt said to be £37 million!

 

:rofl:

 

 

 

 

[glasgow sheep]

hehehehehehehehehehehehehe

[glasgow sheep]

hmmm, hearts not paying bills, again..

 

Exclusive: Hearts stars' fury after club fails to pay them this month

Sep 20 2008 By Gordon Parks

 

HEARTS players haven't been paid this month's wages, it was revealed last night.

 

But the club have denied the failure to process their salaries is a result of any financial problems.

 

Despite this assurance, Record Sport understands angry first-team stars have told owner Vladimir Romanov they want their money now.

 

Bosses at the Edinburgh club say cash will be wired into their bank accounts over the next few days and refuted suggestions global financial problems played any part in the problem. A Hearts spokesperson said: "There has been a delay in the payment of the players' wages and that was down to technical reasons."

 

The Jambos face Inverness Caley Thistle this afternoon and once again a lot of the talk in the stands will be dominated by offfield problems and continuing uncertainty over the long-term solvency of a club with debts that topped £35million last season.

 

Despite a recent financial restructuring of the debt, which wiped £12m off the balance sheet, the volatile state of world credit issues will increase fears over the future of the club under Romanov. It is believed some non-contract staff at Tynecastle haven't been paid either and there are concerns regarding job losses among backroom staff.

 

The Lithuanian businessman has backed the club through his bank, Ukio Bankas. This is part of UBIG Group that has Romanov as majority shareholder.

 

His reign has been a tale of turmoil with Hearts managers coming and going and unrealistic promises of breaking the Old Firm stranglehold and gaining entry to the Champions League.

 

The current wage problem will do nothing to reassure fans their club is in good hands.

[TENEMENTFUNSTER]

The fifth biggest bank in Lithuania?

 

I reckon they're fucked. Should also say that Hearts are what defines "sub-prime lending".

[mizer]

Their staff were meant to be paid their monthly wages today, and they haven't! Apparently it will be the end of the week. And the players are still to be paid.

[capitalsharpie]

Its not funny you know.  Do you not know there is a credit crunch on?

[mizer]

Its not funny you know.  Do you not know there is a credit crunch on?

 

Yellow line is Ukio's share price, suffering like most other banks

[topcorner]

I've heard that they owe the coach company Parks of Hamilton over 25k and they are now refusing to pick them up on Saturday.

 

Also heard that staff at the University training facility have been told to clear their desks.

 

Not sure how true it all is.

[glasgow sheep]

I've heard that they owe the coach company Parks of Hamilton over 25k and they are now refusing to pick them up on Saturday.

 

Also heard that staff at the University training facility have been told to clear their desks.

 

Not sure how true it all is.

I don't think they pay any bills on time.

Mizer what is the graph below the share price?

[mizer]

Mizer what is the graph below the share price?

 

Not a clue, penguins per day?

[sheep_shagger]

Instead of those smart people that done whatever they did with shares to ensure that HBOS had to be merged, they should have done it to mad vlads bank and we could have killed off hearts at the same time!!

[glasgow sheep]

Some economic stuff:

 

http://www.baltictimes.com/news/articles/21193/

 

S&P downgrades Ukio

 

Aug 27, 2008

By Mike Collier

VILNIUS - Rating agency Standard & Poor's said on August 26th that it had revised its outlook on Lithuanian AB Ukio Bankas to negative from stable.

 

At the same time, the 'BB' long-term ratings  and 'B' short-term ratings on the bank were affirmed.

 

The outlook revision on Ukio reflects what S&P believes is "the bank's  heightened credit risks arising from uncertain economic prospects in Lithuania where the bank operates."

 

"In addition to the deteriorating economic conditions, we believe that  Ukio's credit risks have increased because the bank has experienced very high  loan growth in the past 12 months in an untested operating environment that is  exposed to macroeconomic overheating," said Standard & Poor's credit analyst

Miguel Pintado.

 

"Standard & Poor's considers that Ukio is exposed to high credit risk through its loan portfolio growth of over 100% in the last 18 months. This is well above the overall Lithuanian market lending growth rate, and most of the loans are to the riskier small and midsize enterprises and  retail leasing sectors."

 

Although asset quality indicators remain at "relatively comfortable" levels, the first six months of 2008 have already seen a deterioration, with nonperforming loans increasing, S&P noted.

 

Standard & Poor's considers that Ukio is likely to face increased  pressure on its asset quality as the economic conditions in Lithuania  deteriorate. The outlook also factors in the expectation that Ukio will be  able to maintain its relatively good financial performance and garnering of  market shares in core business lines, while maintaining capital levels.

 

"The outlook could revert to stable if our concerns over the operating environment abate and the bank's asset quality proves resilient while it continues to deliver sustained profitability and strengthen its commercial and

financial position. Conversely, a weakening financial profile or operating environment, contributing to higher credit or market risks, could put downward pressure on the ratings," S&P said.

[BrownyBrown]

I don't think they pay any bills on time.

Mizer what is the graph below the share price?

 

The bottom line typically shows the volume of stocks traded on any given day. 

[Guest ally s]

I've heard that they owe the coach company Parks of Hamilton over 25k and they are now refusing to pick them up on Saturday.

 

Also heard that staff at the University training facility have been told to clear their desks.

 

Not sure how true it all is.

 

The training facility staff bit isn't true as they're not actually employed by Hearts.

[Edinburghdon]

Yeah the training facilities at riccarton are uni owned and run

[Ajja]

You could almost convince yourself that Vlad doesn't actually want Hearts to be a successful operation. Everytime things seem to be going better for the team something utterly ridiculous occurs and the rug is pulled out from under them. It's hilarious (while nodding respectfully at the poor sods in their offices that can't pay their mortgages this month). It is fairly common for businesses to stretch the terms of their credit agreements, its not always an indication of cash flow stress but can often be. A lot of businesses simply operate late payment as a strategy to hold onto cash longer. The media has just picked up on Hearts as a newsworthy business.

 

I would think that Ukio will be endangering their legal requirments to capital ratios under the Basel agreements given the pressures that international banking has come under in recent weeks. If their lending has accelerated the way that article suggests and their share price is plummeting then capital reserves will be under stress. A run on the bank in Lithuania and they are fucked. We shouldn't laugh too hard as the two worst sectors to be in at present seem to be banking and new property development 

[mizer]

Not sure if its been mentioned but this comes straight from someone working there. The staff at Tinkcastle have been told to attend a meeting on Friday morning. No other information has been given regarding pay etc, they have just been told to turn up at the meeting. I got told this about half an hour ago.

 

I feel sorry for the staff, did a first aid course with a heap of them last year, decent folk who all worked for hearts as they have always supported them.

 

[Ajja]

I feel sorry for the staff, did a first aid course with a heap of them last year, decent folk who all worked for hearts as they have always supported them.

 

 

Agreed, its not a good thing when peoples jobs are on th eline and their homes and families are affected. Afford yourself a little chuckle though 

[mizer]

Agreed, its not a good thing when peoples jobs are on th eline and their homes and families are affected. Afford yourself a little chuckle though 

 

Trust me if there is any protest or anything out Tynie I will be out my flat and down their laughing at them 

[Ajja]

Was speaking to a friend today who is well connected in European banking terms. He told me that Vlads cash from Lithuania comes in through HBoS and the staff wages are paid through this. Apparently they burst their overdraft limit on the account and that is why they couldn't pay wages.

 

He also said that Aluminij Mostar (Auminium Company in Bosnia thats owned by the parent company UBIG) is in serious trouble.

 

Gotta keep that mill turning

[dave_min]

gayest hearts fans ever...

 

 

I thought all Hearts fans were gay?

[TENEMENTFUNSTER]

nicked fae the MAD,

 

gayest hearts fans ever...

 

 

putting a temporary hold on the LALAH thread hasnae been much good over the years - so i reckon we should try getting some laughs in to boost confidence before the game 

 

LMAO!!

 

Right Said Fred support the LSC!!

[ntbear]

Yeah the training facilities at riccarton are uni owned and run

Hairy tw*t though

[mizer]

 

Romanian coach denies pushing Clark - SFA to investigate manager’s behaviour

 

By Michael Gannon

 

Published: 27/10/2008

 

Hearts manager Csaba Laszlo faces a SFA investigation into his post-match behaviour following his side’s 1-1 draw with Aberdeen.

 

The Romania-born coach, who was upset by referee Steve Conroy’s decision to reverse a penalty kick awarded after consulting his assistant, lost the plot at the final whistle, barging past fourth official John McKendrick on to the pitch before he had to be restrained by his players.

 

He was also seen to shove Aberdeen coach Sandy Clark, who was trying to calm the situation and shake the Hearts manager’s hand.

 

The SFA will wait for the referee’s report to arrive today before deciding on further action, but Laszlo is almost certainly to be called to task.

 

Hibs manager Mixu Paatelainen had his four-match touchline suspension appeal upheld last week and his misdemeanours were small fry compared to that of his Edinburgh counterpart.

 

It would appear Laszlo’s memory is just as short as his fuse, however, as he insisted after the match there had been no confrontations or wrongdoing on his part.

 

He said: “I can go on the field, I do it after every game, is there something wrong with that?

 

“You must ask the fourth official why he stopped me and asked me to go to the dressing room.

 

“I was angry with my players because we missed so many chances.

 

“I did not push the Aber-deen coach. We shook hands after the game.

 

“Why should I apologise?

 

“The referee has his job, I have mine. I am not new to football, I know the referee will not change his decision after the game.

 

“My intention was to go to my players, not to the referee.â€

 

He added: “I do not talk about the referee, I did not touch anybody and I did not confront or abuse anybody. I was angry, but it was because we did not score goals.â€