Comment on In Whose Interests by StevieBC.

    easyJambo 7th November 2019 at 16:31 

    TRFC back in court in front of Lady Wolffe next Thursday for the Memorial Walls case…


    Aye, the walls are fairly closing in around the Blue Room.  


    It would 'seem' that TRFC will likely limp along this season, and confound us Internet Bampots yet again.


    As discussed the Trade Creditors balance, [i.e. suppliers' payments due], as at the end of June had doubled from the previous year from c.£5M to c.£10M.

    Yes, the increased revenue for RIFC last year could account for some increased supplier activity, but it wouldn't account for a doubling of the closing balance.


    Also, there is nothing to indicate that RIFC has changed its behaviours: it is still working to a tight / highly sensitive cash flow.  The £10M balance quoted in June could be a good bit higher e.g. 5 months later – by the end of November.


    So, IMO, the MD Stewart Robertson must be micromanaging the cash position on a daily basis.

    The suppliers – generally – are being squeezed via renegotiated Payment Terms – and/or simply very late payments being made by RIFC/TRFC.


    Paradoxically, instead of the big headlines for funding gaps in the millions – it could be relatively smaller debts which could cause the immediate risk to RIFC.


    As we approach December – when suppliers want their aged debts recovered ideally to boost their year end cash balance…

    And as we approach January when footy clubs and many other businesses are seasonally short of cash…

    There could be several more court cases launched against RIFC to recover outstanding supplier balances.


    Whilst those cases wouldn't necessarily pose a continuity threat to RIFC, it could have a disproportionate reputational risk whereby even the average punter will have their eyes opened if a 'face painter' type of small business takes legal action against RIFC/TRFC – and it could 'crystallise' doubts raised by the 2018/19 accounts.


    Who knows, even the SFA might feel obliged to ask a question or two about RIFC finances…



    StevieBC Also Commented

    In Whose Interests
    Mordecai 12th November 2019 at 13:59

    Interesting analysis by JJ on the feasibility of a Morelos Transfer to the EPL:




    Fair play: JJ can indeed produce decent articles.


    Every Bampot should read it: valuable insights to the whole 'player's work permit' process.

    In Whose Interests
    easyJambo 12th November 2019 at 12:46

    The SPFL's annual report to 31 May 2019 has just been published by Companies House…


    Can't say I took much notice at the time of the appointment,

    but how prescient that the TRFC MD – Stewart Robertson – was made an SPFL Ltd. Director, as recently as July 22nd. this year?


    In Whose Interests
    Forget about the dwindling support for the Scotland team…


    it looks like the players don't want to be involved either.


    And who can blame them?

    Recent Comments by StevieBC

    Celtic’s Questions to Answer
    UTH, a demonstration like that would be both tragic, and hilarious.

    And it might provide the Celtic fans with inspiration to produce a suitably appropriate banner too..  indecision

    Celtic’s Questions to Answer
    Ex Ludo, why would Gary McAllister think of leaving Ibrox when he is within – potentially – touching distance of a league title – nevermind a LC medal?  indecision



    As an aside – and not that I'm on a commission with RT, honest comrade – but I watched a very interesting programme on RT called 'Renegade' – probably still on YouTube.

    Anyway on the current episode, it's the host with an ex-UK MSM journalist who is now independent, and a current UK University professor in journalism.  Debate was about lack of trust in MSM, etc.


    Couple of SFM relevant points I picked up;

    The journalist openly admitted that in the MSM she routinely copied/pasted several press releases daily for a variety of reasons, with lack of time and resources being top reasons. 

    But it's the first time I've heard the term 'copy/paste' being openly quoted about UK journalism.


    The professor mentioned that UK MSM is "massively over represented" by a narrow demographic with a private school and Oxbridge background – and there is a propensity for groupthink.


    As we know, it's not just the footy journos letting us down in the MSM.

    Celtic’s Questions to Answer
    It's hard to believe that RIFC would be a delinquent tax payer, but who knows?

    As we saw with Craig Whyte, desperate times can result in desperate measures.


    I'm thinking that yes, there could be a significant overdue payment – but payable to any one of a myriad of exasperated suppliers.

    Mibbees a supplier had/has threatened to apply for a Winding Up Petition because RIFC is so overdue with its vendor payments?

    Celtic’s Questions to Answer
    TT, you've omitted the devil incarnate: Hilary Clinton.

    Must be close for top spot?


    Andrew should get on the blower to our very own PR guru Traynor.  Well, nobody in the SMSM has ever been allowed to discuss King's dodgy past – including his 42 criminal convictions.  

    Celtic’s Questions to Answer
    Actually, if you read the above DR Rod Petrie article in full…


    you will quickly surmise that the guy is delusional.

    Not exaggerating: delusional.


    Read it for yourself.