With immediate effect. 

Maybe time for completely new faces

Just now, caleyboy said:

Maybe time for completely new faces

Would be good but sadly I dont see evidence of them queuing up. 

8 hours ago, IMMORTAL HOWDEN ENDER said:

Would a EGM be announcing something shocking or something promising ?  Any new broom would want a clean sweep?

I always worry about a new broom sweeping dirty, but given our current situation I'm keeping my fingers crossed that it will indeed be a clean sweep. However this boardroom situation develops, I sincerely hope it doesn't affect the good things that are now happening at front of house on the pitch and that Robbo is given the opportunity to continue and develop this team.

My thoughts on the departing Chairman and the regime he was associated with are well document, along with my thoughts on where everything was heading over 2 years ago, so no need for me to go over any of that again.

All I will say is that even with the best will in the world, nobody is going to finance the £800k+* per year hole in the budget that has been generated by the departing regime....and that's on top of any borrowing which may or may not need paid back....so whoever comes in will have to make some really unpopular decisions because we have teams on and off the park that we clearly cannot afford; not even in the short term.

The only question I have is whether or not Muirfield Mills will pass on control of the 700,000+ shares that sit with the Football Trust which they got control of for £1...but I guess that will be one for the EGM.

*Probably nearer a £1.2 Million hole as much of it will have been masked by cup money etc.

14 minutes ago, CaleyD said:

My thoughts on the departing Chairman and the regime he was associated with are well document, along with my thoughts on where everything was heading over 2 years ago, so no need for me to go over any of that again.

All I will say is that even with the best will in the world, nobody is going to finance the £800k+* per year hole in the budget that has been generated by the departing regime....and that's on top of any borrowing which may or may not need paid back....so whoever comes in will have to make some really unpopular decisions because we have teams on and off the park that we clearly cannot afford; not even in the short term.

The only question I have is whether or not Muirfield Mills will pass on control of the 700,000+ shares that sit with the Football Trust which they got control of for £1...but I guess that will be one for the EGM.

*Probably nearer a £1.2 Million hole as much of it will have been masked by cup money etc.

Assuming we go into Admin surely the FT shares would also be diluted to zero ?

Just now, caleyboy said:

Assuming we go into Admin surely the FT shares would also be diluted to zero ?

I have no desire to get into a long winded discussion on the situation as there's simply not enough info in the public domain....however I am willing to stick my neck out and say that I believe administration is highly unlikely.

The existing major shareholders would probably be a deterrent to new major investment.

I'd love to know what source has decreed that Messrs Fyffe & Dalgarno are ready for the off - is this backed up by fact or just from the rumour mill?  Anybody who puts money in to the club must know that they are not getting it out so whilst I am not saying we should graciously accept, perhaps there should be less vitriol around who we are willing to accept money from?  Yes, we all have the best interests at heart and would hope that any new "donor" (not investor as that suggests a ROI at the end) has the long term future of the club as their goal but the brutal facts are we need money, we need stability and we need a board who have the cojones to make the hard decisions NOW to balance the books, re-engage with the wider community - importantly Fan AND Business - and ensure that we retain FT football and at least top 3 in the league with an occasional spell in the SPL to boost coffers from time to time?  Can't be that difficult......

But please, anyone, don't come in with a blaze of glory on here with suggestions of how to shape things going forward and then disappear without a trace.  We need staying power and sleeves rolled up.

51 minutes ago, Weekend Hacker said:

I'd love to know what source has decreed that Messrs Fyffe & Dalgarno are ready for the off - is this backed up by fact or just from the rumour mill?  Anybody who puts money in to the club must know that they are not getting it out so whilst I am not saying we should graciously accept, perhaps there should be less vitriol around who we are willing to accept money from?  Yes, we all have the best interests at heart and would hope that any new "donor" (not investor as that suggests a ROI at the end) has the long term future of the club as their goal but the brutal facts are we need money, we need stability and we need a board who have the cojones to make the hard decisions NOW to balance the books, re-engage with the wider community - importantly Fan AND Business - and ensure that we retain FT football and at least top 3 in the league with an occasional spell in the SPL to boost coffers from time to time?  Can't be that difficult......

But please, anyone, don't come in with a blaze of glory on here with suggestions of how to shape things going forward and then disappear without a trace.  We need staying power and sleeves rolled up.

I don't think you will find that Mr Fyfe has any shares in the club. If he has, I will be very surprised.

2 minutes ago, caleyboy said:

I don't think you will find that Mr Fyfe has any shares in the club. If he has, I will be very surprised.

For clarity I meant anyone in general, not specific to these two individuals - apologies.  However, question remains where is the source?  It would be an idea for the board, IMHO, to have a mix of those with cash deposits but also those who can bring some business acumen or connections or indeed any skill that the club currently does not have behind the scenes.  This may be naive, but....

23 minutes ago, Weekend Hacker said:

For clarity I meant anyone in general, not specific to these two individuals - apologies.  However, question remains where is the source?  It would be an idea for the board, IMHO, to have a mix of those with cash deposits but also those who can bring some business acumen or connections or indeed any skill that the club currently does not have behind the scenes.  This may be naive, but....

personally I believe directors should have a minimum of £50k invested in the club. 

Am I the only one that thinks that the Board and Graham Rae were on a feckin hiding to nothing from the off, took over when many thought then that administration and part time football was inevitable. The fact that they kept the club going, got to the play offs last season, have maintained stability this season on the field at least - and put a lot of personal time and effort into it. Their downfall was probably that they did not have enuff spondoolicks to bring about further change. Again I fer one do not think that they would feck aff and leave us in the lurch. Cant wait to the next meeting splodging egg on a few faces.

1 hour ago, IMMORTAL HOWDEN ENDER said:

Am I the only one that thinks that the Board and Graham Rae were on a feckin hiding to nothing from the off, took over when many thought then that administration and part time football was inevitable. The fact that they kept the club going, got to the play offs last season, have maintained stability this season on the field at least - and put a lot of personal time and effort into it. Their downfall was probably that they did not have enuff spondoolicks to bring about further change. Again I fer one do not think that they would feck aff and leave us in the lurch. Cant wait to the next meeting splodging egg on a few faces.

If you read the post further back in thread by A sofa in San Trope it explains clearly that Graham Rae and co were not the ones keeping the lights on. 

I think now we have to wait for the meeting to see what club have to say. 

2 hours ago, IMMORTAL HOWDEN ENDER said:

Am I the only one that thinks that the Board and Graham Rae were on a feckin hiding to nothing from the off, took over when many thought then that administration and part time football was inevitable. The fact that they kept the club going, got to the play offs last season, have maintained stability this season on the field at least - and put a lot of personal time and effort into it. Their downfall was probably that they did not have enuff spondoolicks to bring about further change. Again I fer one do not think that they would feck aff and leave us in the lurch. Cant wait to the next meeting splodging egg on a few faces.

Your loyalty to Mr Rae, for whatever reason, is admirable but we will have to agree to disagree on your assessment of the situation. I have had dealings in some capacity with virtually every iteration of our boardroom over the years and lets just say that some were far more organised, personable, and capable than others.

I have absolutely no doubt that anyone who has 'donated' their funds (Weekend Hackers's distinction is correct IMO) had the best intentions coming in, especially those who had a plan they thought would work, but as we have seen a few times, the viability or implementation of those plans often had severe issues or were chock full of inefficiencies and wastage costing us money we didnt have. The last two years are another example of this. 

The best post in this thread is from A Sofa in St Tropez  on the first page. Absolutely nails it as far as I am concerned.   

I only speak, or post on this forum, as I find.  I have been a fan of ICT since day one and Caley before then.  Graham Rae is the first ever Chairman who replied to an email from me, invited me to the Board Room on a Match Day, and thereafter always said Hello and chatted whenever our paths crossed.   A gentleman to his core.   I regret his resignation and wish him well for the future.   

 

41 minutes ago, lizi said:

I only speak, or post on this forum, as I find.  

As you should .....  

I have the opposite experience of him on several different fronts. As a paying customer in hospitality, as a (heavily discounting) service provider, and on a personal level when crossing paths at a recent funeral. The first time (in hospitality) was the first time I ever met him. I was with my wife and child and I felt like something on the bottom of his shoe when I was introduced to him. I had never spoken to him personally or in email up to that point and it has probably clouded the very few interactions we have had since then .... It has certainly made me take a more critical eye to every deed, action or word .... 

 

22 hours ago, CaleyD said:

I have no desire to get into a long winded discussion on the situation as there's simply not enough info in the public domain....however I am willing to stick my neck out and say that I believe administration is highly unlikely.

Agree with you CaleyD, talk of going into administration is way off the mark from what I've heard.

Edited September 26, 20196 yr by Kind of Blue

I am sitting here both aghast and emotionally deflated. A very disappointing and stunning prospect awaits us.

Since I am not   a  "Johnny on the Spot" then the best thing for me to do  is to soak up as many viewpoints as provided and see all, hear all but say nowt. Then keep my fingers crossed , my powder dry and await developments with bated breath. Especially since I have never met the  current officials who are running the club. 

As things apparently stand at the minute, then my incredible and incredulous emotional high that attended the viewing of the Scottish Cup win by ICT those few years ago does now seem like just  a distant and possibly one-time  paradoxically elusion.

But things are seldom what they seem and there is a way out ,. Except that that will come at a high price I fear.So, onward and upwards, chums.

S.P.

 

We need to await the EGM. Remember that the club now have the asset of the stands and in terms of the going concern test certainly have three Directors who believe that to be the case.  

19 hours ago, old caley girl said:

If you read the post further back in thread by A sofa in San Trope it explains clearly that Graham Rae and co were not the ones keeping the lights on. 

I think now we have to wait for the meeting to see what club have to say. 

Of course I read Sophia's post - possibly an individual with the same degree of vitriol compared to my tolerance. There are a number of things in that post that I agree with but a lot that I view as uninformed and personable opinion. Lizi ain't exactly an "easy touch" and very politely challenges some of the negativity. Perhaps this is as much about the "views" of the individuals concerned due to personal experience and understandable "loyalty". This has caused as much "debate" as Sutherland and Savage. Sutherlands saving grace, to me, was that he had the spondoolicks to cover any gaffes, a successful side and more incoming finance. I think that the bottom line is that a number of individuals have attempted to keep ICT from administration. Their business acumen may have been flawed but at least, using sofa terminology, is that they have kept an old banger ticking over. We cant afford to trade it in and you don't put high quality tyres or brakes on a banger when you haven't got the money but need to keep it going. Hopefully the scrapyard scenario will be avoided. Our banger at the moment is ticking over quite nicely and here is hoping for an upgrade shortly. Oh and finally sometimes you have to take one for the team.

Think that I will now wait for the EGM ?

16 hours ago, Scotty said:

As you should .....  

I have the opposite experience of him on several different fronts. As a paying customer in hospitality, as a (heavily discounting) service provider, and on a personal level when crossing paths at a recent funeral. The first time (in hospitality) was the first time I ever met him. I was with my wife and child and I felt like something on the bottom of his shoe when I was introduced to him. I had never spoken to him personally or in email up to that point and it has probably clouded the very few interactions we have had since then .... It has certainly made me take a more critical eye to every deed, action or word .... 

 

regrettably, I have to agree.  I have been to the boardroom with clients on a few different occasions and each time I have "met" Mr Rae, it is as if it is the first time - very little p1sses me off more to be honest.  Mine is not a big business but I am a supporter and do waht I can.  I'm not asking for a man hug and a high five but to remember at least something of those you meet in your own boardroom must be a pre-requisite.  Two clients of whom I speak would be MORE than capable of sponsoring the club to a reasonable degree but little attempt was made to engage with them either so I must side with Scotty.  Nothing personal against the chap but lessons to be learned by the incoming I think - you have no idea who is able to come up with something that could help the club.  And I include, I'm afraid, our CEO in this also - completely blanked in the boardroom.......

Et Tu Brute ?

Yes, being ignored is a real downer. Say what you like to my face but please don't ignore me. It always seems to be such an insult when a quiet and polite word can be the difference between an alliance to the person or the alternative poor feelings towards him or her.

However in the case of our alliance and loyalty to the club we just have to thicken the skin and move right on..

From today's P&J