Anyone got a dunking stool for Jag?
Anyone got a dunking stool for Jag?
Burn The Heretic 
Apparently I'm apathetic, but I couldn't care less.
"Being a Partick Thistle fan sets you apart. It means youre a free thinker. It also means your team has no money." Tim Luckhurst, The Independent, 4th December 2003
this is embarrassing for the dompost is it not? Their statement that ads would be in the paper was fairly emphatic, and precise - they said it would be there yesterday is that correct?
2 papers now, no ads, no explanation
hmmm
In fact, in a roundabout way, isn't this very similar to terry's "cheque's in the mail" attitude that the Dompost has been so critical of?
Not condoning that type of behaviour in any way, just saying 'practice what you preach' i guess
I agree that the Dom Posts reporting of Century City Football's apparent liquidation this week has been piss-poor.
First, they contrive a story based solely on an apparent booking for the following day in their own classified pages.
Then, not only do those ads not run in either of the next two days, but they are completely silent as to the reasons why, or what is actually going on.
No correction, no retraction, no follow up, very poor.
good to see he's getting support from over the ditch
http://tvnz.co.nz/football-news/football-chiefs-rally-around-serepisos-4019388
The commentators on Foxtel were waxing lyrically about Terry last night too.
Called him the best owner in the league.
high praise from a couple of skippy's
Arent the ads being placed by the IRD ?? The court case was over the possible placement of the ads. It is not the Dom Posts job to apologise if IRD dont place them
Arent the ads being placed by the IRD ?? The court case was over the possible placement of the ads. It is not the Dom Posts job to apologise if IRD dont place them[/QUOTE]
Give me a break.
They chose to turn the (non) placement of the ads into a story about the Phoenix being liquidated. No such ads have run so far this week, despite the Dom Post claiming on Tuesday that they would be printed on Wednesday. They clearly stuffed up and their story is factually incorrect.
This didn't happen.
Also, note that they "quote" the IRD above before adding this disclaimer at the end:
[QUOTE=The Dom Post]The IRD said it was unable to comment on individual taxpayers' affairs
Give me a break.
They chose to turn the (non) placement of the ads into a story about the Phoenix being liquidated. No such ads have run so far this week, despite the Dom Post claiming on Tuesday that they would be printed on Wednesday. They clearly stuffed up and their story is factually incorrect.
The IRD says it is owed more than $3.5 million in outstanding tax and
penalties and wants to advertise its plans to liquidate the companies.
Mr Serepisos applied to the High Court at Wellington to stop the
advertisements, but a judge refused and the adverts are due to run in
The Dominion Post tomorrow.
This didn't happen.
Also, note that they "quote" the IRD above before adding this disclaimer at the end:
[QUOTE=The Dom Post]The IRD said it was unable to comment on individual taxpayers' affairs
Bob Jones would be suing them for this!
Bob Jones would be suing them for this!
Hey, that's an idea, let's get Bob Jones to buy the Nix.
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
Bob Jones wouldnt waste his money, on the Dom
Bob Jones wouldnt waste his money, on the Dom
And Bob's also a big boxing fan. Could the Nix survive an owner like that?
Could YF? 
scribbler2011-02-10 18:53:26
Bet you the post will be gutted they didn't get that advertising money from the ird 
Auckland will rise once more
Bob Jones wouldnt waste his money, on the Dom
And Bob's also a big boxing fan. Could the Nix survive an owner like that?
Could YF?
2 Words... Leyton Orient!
"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009
Bet you the post will be gutted they didn't get that advertising money from the ird
The NBR has this on where Terry will get the money from...
The story is front page and continues inside .. the print edition I saw included a howler about the score vs. Sydney ... edited I see this is now on a seperate thread but was 20-nil according to NBR. Hope they make a better job of the rich list!!
cronus2011-02-11 18:30:42
A new low for the Dom Post? now they are hassling his family about their financial arrangements with him:
I wonder if they employ a Private eye and intercept phone calls as well, they seem to be sinking to that Tabloid level.
still absolutely no mention of their bogus 'ads will be run tomorrow' claim
whats up with that
A new low for the Dom Post? now they are hassling his family about their financial arrangements with him:
I wonder if they employ a Private eye and intercept phone calls as well, they seem to be sinking to that Tabloid level.
This story is basically a matcher of yesterday's NBR, but without the 20-nil scoreline ...
or a brief summary.
Essentially the NBR article says his Mum's five properties now have $1.5 million of mortgages registered against them in December.
It then talks about the history of the 'Swiss' place he is borrowing from and how they are associated with some 'unreal' finance bids. It talks about a failed bid for a major EPL club.
The tone of the article is 'don't get mixed up with this lot.' The money might be banked in Switzerland but it isn't exactly Swiss.
still absolutely no mention of their bogus 'ads�will�be run�tomorrow' claim
whats up with that
Don't hold your breath for a retraction. (Especially not a front page one)
Just makes dompost look foolish. Hope those ads never see the light of day.
His trip wasn't lost on Yellow Fever fans, who displayed a giant Swiss flag during the game, and sang rousing choruses of "We love you Terry, oh yes we do".
"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009
Doom post no credability, IRD slack for not fronting up with the ads they have to post if they want to liquidate.....hopefully this ends the bullsh*t about Terry and his money, theprof2011-02-15 08:37:37
Queenslander 3x a year.
I'm sorry guys but you are naive in the extreme if you don't believe that (a) Terry's financial problems are both real and a threat to the club and (b) newsworthy.
I worked for 9 months at an investment bank in London last year and dealt with 5-10 "Terry's" a week, guys who had made it big in the 90s property boom, are heavily leveraged (i.e. funded through debt) were now faced with falling asset values caused by weakness in the investment/development market and commercial vacancies, and liquidity and cashflow problems across their portfolios. The types of responses that he is coming up with are also completely typical, delay, delay, delay. Put it this way - does anyone think that Terry would be looking for money offshore if there was any chance he could get it through his lenders or any of the usual channels in Australia/NZ? No - that implies that his credit is shot here and that the financing community won't deal with him. That is real and it is a problem because those people have dealt with him for years, they know the true financial picture (unlike us) and have leant money in the past. That the tap has now been turned off is alarming.
The simple problem here is that unless property prices and retail occupancy rates bounce back to pre- 2007 levels, Terry will continue to struggle. He will, like all property owners, continue to face a rolling level of refinancing requirements and that is the time when losses become crystallised and he may well default on his banking covenants (he probably already has). He may have restructured his banking facilities so that he can meet his ongoing interest liabilities but there are still fundamental problems at the core of these issues i.e. much of the property he owns will be worth less than what he was leant to finance its purchase).
For those who don't want this reported on, have they actually thought about the fundamental issue here? Terry owes $3.5 million in tax to the IRD - money that he seems unable or unwilling to pay, and no-one in NZ or Australia will lend him that money. The IRD have no political motive, they just want to collect money owed to them. Liquidating companies is a last resort and in some ways is a negotiating tactic, the IRD are happy to extend payment of large debts so long as their is a clear plan developed to pay it back. I understand that an arrangement was reached with the IRD last time this arose, the implication must be that payments have since been missed.
On the money that is owed to the IRD it should ring alarm bells that part of the money owed is for player kiwisaver liabilities. That money isn't even his (as opposed say to tax) - that is money that he is supposed to pay across to the personal kiwisaver accounts of the players through deductions from their wages. Owing money to the IRD is one thing, but effectively delaying money owed to employees is a different story.
I do this for a job but I have no insight into the actual facts here - I am purely using my knowledge of how banks and the IRD deal with lenders to explain the situation. If anyone is interested I can write more
james dean2011-02-16 03:16:51Normo's coming home
Very informative, I have no reason to doubt you but I can't wait to see some of the responses to what you've written 
Very informative, I have no reason to doubt you but I can't wait to see some of the responses to what you've written
I think YF should continue to try and look on the bright side, but keep some torches handy in case it gets real gloomy, real quick.
Hell I work in a bank and know full well that Terry's credit is shot.....all of our corporate lenders here know Terry well adn quite simply his businesses are not paying their debt back....which is why he's gone of shore....as always I find it laughable that Terry's financial situation has been such big news when every property mogul in Wellington,. the country is under huge pressure. In fact alot of them have already been liquidated/bankrupted, do we know who they are? do we care? does the NZ public care? NO!!!! The only reason the doom post, IRD< ACC have tried to make Terry's case a public one is because of the Nix.
Queenslander 3x a year.
A question for james dean: is anything positive happening, or is the club doomed, on and off the field? Because that's what I get from every single post you've written over the last year. Nothing's right: Terry's finances (fair point), Ricki's coaching, selection issues, etc, etc... I am quite simply wondering what you would do, if you got the licence from Terry and had a few million to throw around. Because there are some people who just get a kick out of being a wet blanket.Doloras2011-02-16 08:56:23
Ramming liberal dribble down your throat since 2009
This forum needs less angst and more Kate Bush threads
Hell I work in a bank and know full well that Terry's credit is shot.....all of our corporate lenders here know Terry well adn quite simply his businesses are not paying their debt back....which is why he's gone of shore....as always I find it laughable that Terry's financial situation has been such big news when every property mogul in Wellington,. the country is under huge pressure. In fact alot of them have already been liquidated/bankrupted, do we know who they are? do we care? does the NZ public care? NO!!!! The only reason the doom post, IRD< ACC have tried to make Terry's case a public one is because of the Nix.
Of course it's because of the Nix. And don't forget Terry's a local TV 'star'.
It could only get better for the Dom if Terry was an actor on Shortland Street. 
Hell I work in a bank and know full well that Terry's credit is shot.....all of our corporate lenders here know Terry well adn quite simply his businesses are not paying their debt back....which is why he's gone of shore....as always I find it laughable that Terry's financial situation has been such big news when every property mogul in Wellington,. the country is under huge pressure. In fact alot of them have already been liquidated/bankrupted, do we know who they are? do we care? does the NZ public care? NO!!!! The only reason the doom post, IRD< ACC have tried to make Terry's case a public one is because of the Nix.
So a football club owner/media personality/ property mogul/ Wellington celebrity/ rich lister's business empire is crashing down around him and you don't think it's newsworthy??
Put it this way, if the same thing was happening to Bob Jones would it be front page news? Yes, for all the same reasons, but that would be nothing to do with the Phoenix
Normo's coming home
I'm sorry guys but you are naive in the extreme if you don't believe that (a) Terry's financial problems are both real and a threat to the club and (b) newsworthy.
�
I worked for 9 months at an investment bank in London last year and dealt with 5-10 "Terry's" a week, guys who had made it big in the 90s property boom, are heavily leveraged (i.e. funded through debt) were now faced with falling asset values caused by weakness in the investment/development market and commercial vacancies, and liquidity and cashflow problems across their portfolios.� The types of responses that he is coming up with are also completely typical, delay, delay,�delay.� Put it this way - does anyone think that Terry would be looking for money offshore if there was any chance he could get it through his lenders or any of the usual channels in Australia/NZ?� No - that implies that his credit is shot here and that the financing community won't deal with him.� That is real and it is a problem because those people have dealt with him for years, they know the true financial picture (unlike us) and have leant money in the past.� That the tap has now been turned off is alarming.
�
The simple problem here is that unless property prices and retail occupancy rates bounce back to pre- 2007 levels, Terry will continue to struggle.� He will, like all property owners, continue to face a rolling level of refinancing requirements and that is the time when losses become crystallised and he may well default on his banking covenants (he probably already has).� He may have restructured his banking facilities so that he can meet his ongoing interest liabilities but there are still fundamental problems at the core of these issues i.e. much of the property he owns will be worth less than what he was leant to finance its purchase).
�
For those who don't want this reported on, have they actually thought about the fundamental issue here?� Terry owes $3.5 million in tax to the IRD - money that he seems unable or unwilling to pay, and no-one in NZ or Australia will lend him that money.� The IRD have no political motive, they just want to collect money owed to them.� Liquidating companies is a last resort and in some ways is a negotiating tactic, the IRD are happy to extend payment of large debts so long as their is a clear plan developed to pay it back.� I understand that an arrangement was reached with the IRD last time this arose, the implication must be that payments have since been missed.
�
On the money that is owed to the IRD it should ring alarm bells that part of the money owed is for player�kiwisaver liabilities.� That money isn't even his (as opposed say to tax) - that is money that he is supposed to pay across�to the personal kiwisaver accounts of the players through deductions from their wages.� Owing money to the IRD is one thing, but effectively delaying money owed to employees is a different story.
�
I do this for a job but I have no insight into the actual facts here - I am purely using my knowledge of how banks and the IRD deal with lenders to explain the situation.� If anyone is interested I can write more
It is certainly newsworthy, but is being over-sensationalised by the Dom-Post. Also in the efforts to get the scoop, Dom Post have printed things that haven't happened (e.g. IRD running the public notice, proceeding with the liquidation when at this point it is still on hold).
You are obviously right, he is having some chronic liquidity problems for the last 12 months at least, but the other thing you are right about is that there are plenty of 'Terry's' out there that over leveraged in the boom, and they aren't getting the same sort of coverage as our Terry. From the tone and the sensationalism of the articles it seems like there is some sort of agenda against him, and it has looked that way since 'The Apprentice' aired - I guess that is the risk that you take when you make yourself a 'celebrity' and you don't have your house entirely in order.