Ricardo's report AGM 2016

[ricardo 7,395]

A big turnout tonight and no room on the main car park for Ricardo despite an early arrival. The main protagonists came on stage at 7.30 to a noticeably cool reception. Normally there is polite clapping but it was singularly lacking tonight.Ed Balls made his first appearance as Chairman and did a fairly good job of breaking the ice with all the usual platitudes but did elicit a good round of applause for Delia and MWJ''s 20th anniversary of becoming Board members.Normaly the Formal Business is concluded with little or no comment but tonight we had questions re the issue of £1 shares for the new directors, McNallys pay off and a request for the incoming directors to give a short resume of their careers and qualifications for our acceptance of them as prospective directors. It was all very novel and quite interesting. Basically the £1 share issues were a fiduciary requirement while the McNally episode couldn''t be discussed because of legal contractual issues. There was some annoyance when the floor felt they were being fobbed off with non answers but Ed Balls calmed matters with the consummate ease you would expect from an ex politician. Steve Stone gave us a run down on finances and forecasts and it will come as no surprise to learn that failure to gain promotion within the next couple of years will lead us to a very dark place. Income will fall from £100 million last year to £72 million next year and this despite a £42 million parachute payment. Next year the last parachute payment will come in at just over £30 million. Steve stated that by June 2017 we will be looking at a cash flow loss of minus £7.5 million.Jez Moxey then gave us a run down on the clubs objectives. McNally always impressed me when he gave this presentation and I was prepared tp be disappointed by Mr Moxey but in all honesty I have to say that on first acquaintance I was quite impressed. He spoke well and seemed to have a good handle on his brief. It was also quite obvious that the underlying point he was emphasizing was the continued full hearted support that the Board have for AN and his team and the unswerving aim for promotion this year. Whilst acknowledging the present bad run he let slip some good news that Jacob Murphy has committed his future to the club with a four and a half year contract.Question time came with the usual rag bag assortment of stuff ranging from Ed Balls dancing prowess to why isn''t Kyle Lafferty in the team. On the latter point AN doesn''t fancy him and neither it seems did any of the managers of his loan clubs.On the Bradley Johnson transfer, AN said the money was too good to refuse and Brady was a better prospect for the Premier League and when eventually sold will make better money. AN is quite big on progression and explained it as the reason for the loaning of Maddison to Aberdeen.There was concern that our recruitment was sub par and it now appears that Ricky Martin is heading that up but all players are agreed with AN first.There were several questions on the defence and set piece coaching that AN basically batted away with comments akin to "Bassong won 80% of his headers, unfortunately the one he missed resulted in a goal". In essence I think AN did well enough to retain the confidence of the floor for a bit longer. In any event there is still no detectable groundswell for his removal.The famous Peter ( can''t remember his surname) conjured up a name from the past when he likened our centre halves to that well known defender of old, Charlie Billington. No no Peter, they may be poor but not that poor.All things considered the meeting was allowed to flow and virtually everybody who wanted to managed to get a say. There were one or two questions that threatened to get feisty but in general Ed Balls handled it well and to misquote one of his illustrious predecessors as Chancellor " it was no worse than being mauled by a dead sheep".

[morty 0]

Cheers Ricardo, a slightly more balanced view than some would seem to want to put across.

[Bill 1,788]

but what about the ''cover up'' ?

[ricardo 7,395]

[quote user="Zebediah Hush-Puppy"]but what about the ''cover up'' ?[/quote]I forgot to mention the 90k payment to a director was for Ed Balls stepping into McNallys shoes for several months until the appointment of Moxey.MWJ it was cheap. (obviously I cannot comment)

[morty 0]

[quote user="ricardo"][quote user="Zebediah Hush-Puppy"]but what about the ''cover up'' ?[/quote]I forgot to mention the 90k payment to a director was for Ed Balls stepping into McNallys shoes for several months until the appointment of Moxey.MWJ it was cheap. (obviously I cannot comment)[/quote]It was less than McNally would have been paid. 

[STAN 29]

I just find it strange that we weren''t told this at the time.

[Rudolph Hucker 0]

Sorry Ricardo but this is too ''on message'' it seems you were well and truly grabbed by the Balls.

[morty 0]

[quote user="STAN"]I just find it strange that we weren''t told this at the time.[/quote]Maybe it was none of your business.

[STAN 29]

what''s your problem?

[ricardo 7,395]

[quote user="RUDOLPH HUCKER"]Sorry Ricardo but this is too ''on message'' it seems you were well and truly grabbed by the Balls.[/quote]As a fan of Bowkett and McNally I was fully prepared to dislike Ed and Jez but I have to say that they did in fact impress me.The club remains in good hands.IMO

[Knock off Nige 1]

Thanks for this Ricardo.

I wasn''t able to be there tonight so good to have a measured report.

Interesting that on the BBC news tonight Ed Balls said that AN has the support of the Board "in the next few weeks". A politicians answer or a sign of things to come?

[daly 506]

Morty wrote

It was less than McNally would have been paid.

Hardly put Balls in the same class as McNally

Was Balls at CR for the 8 weeks and what did he do to earn the £90000

Sure you will find a way to stick up for him and Delia

The BOD tonight was like a rabbit caught in headlights

PS That''s without giving Balls 100 shares for £1 each when other buyers paid £25 to £100 a share

[ricardo 7,395]

[quote user="Knock off Nige"]Thanks for this Ricardo.

I wasn''t able to be there tonight so good to have a measured report.

Interesting that on the BBC news tonight Ed Balls said that AN has the support of the Board "in the next few weeks". A politicians answer or a sign of things to come?[/quote]I believe at the moment they sincerely support the bloke but as we know its results and the crowds reaction to them that counts.He may come through this or he may not. Only time and events will tell.

[morty 0]

[quote user="daly"]Morty wrote

It was less than McNally would have been paid.

Hardly put Balls in the same class as McNally

Was Balls at CR for the 8 weeks and what did he do to earn the £90000

Sure you will find a way to stick up for him and Delia

The BOD tonight was like a rabbit caught in headlights

PS That''s without giving Balls 100 shares for £1 each when other buyers paid £25 to £100 a share[/quote]He worked full time for 3 months as stand in CEO, and was paid, actually less, than the going rate.I''m not sticking up for anyone, just diffusing your bull$hit with actual facts.

[Cantiaci Canary 558]

Thanks a lot Ricardo ... you''re a star.

[ricardo 7,395]

[quote user="daly"]Morty wrote

It was less than McNally would have been paid.

Hardly put Balls in the same class as McNally

Was Balls at CR for the 8 weeks and what did he do to earn the £90000

Sure you will find a way to stick up for him and Delia

The BOD tonight was like a rabbit caught in headlights

PS That''s without giving Balls 100 shares for £1 each when other buyers paid £25 to £100 a share[/quote]Its a fiduciary requirement that allows that person to become a director. They did the same for McNally when he came. He made no financial gain from them and those same shares have now been transferred to Moxey. I expect the same will happen when these new directors leave.As a cover up its a non story.

[Bagster 101]

I thought it sounded pretty good tbh some difficult issues were raised and they wern''t given an easy time of it, RB tweet was just classicly timed :)

I dont understand people who want foreign investment after all 52% of us just voted to no more bl..dy foreigners ;)

One thing for sure is if the players dont turn up against Derby we will know that Alex has lost them, personally I can see that game being a bit feisty after that.

It was also good to hear that they are going to rebalance the squad a little.

Money situation no different to what we could of expected.

What more could we of expected really

[ricardo 7,395]

[quote user="Bagster"]I thought it sounded pretty good tbh some difficult issues were raised and they wern''t given an easy time of it, RB tweet was just classicly timed :)

I dont understand people who want foreign investment after all 52% of us just voted to no more bl..dy foreigners ;)

One thing for sure is if the players dont turn up against Derby we will know that Alex has lost them, personally I can see that game being a bit feisty after that.

It was also good to hear that they are going to rebalance the squad a little.

Money situation no different to what we could of expected.

What more could we of expected really[/quote][Y]

[Rudolph Hucker 0]

Perhaps Ed Balls will let Alex Neil into his Strictly secret: how to score less than the opposition every week and still succeed.

[Bill 1,788]

[quote user="daly"]Morty wrote

It was less than McNally would have been paid.

Hardly put Balls in the same class as McNally

Was Balls at CR for the 8 weeks and what did he do to earn the £90000

Sure you will find a way to stick up for him and Delia

The BOD tonight was like a rabbit caught in headlights

PS That''s without giving Balls 100 shares for £1 each when other buyers paid £25 to £100 a share[/quote]dear me, are you really that thick, or are you still scrabbling around for yet another stick to beat the club with ?that allocation is part of him being a diector and will doubtlessly be ''returned'' when he steps doneso stop keep posting your snidey shyte !

[Bill 1,788]

[quote user="Bagster"]I thought it sounded pretty good tbh some difficult issues were raised and they wern''t given an easy time of it, RB tweet was just classicly timed :)

I dont understand people who want foreign investment )after all 52% of us just voted to no more bl..dy foreigners ;

One thing for sure is if the players dont turn up against Derby we will know that Alex has lost them, personally I can see that game being a bit feisty after that.

It was also good to hear that they are going to rebalance the squad a little.

Money situation no different to what we could of expected.

What more could we of expected really[/quote]it was actually 52% of those who voted

[morty 0]

Anything else you need clearing up Daly?

[morty 0]

Anything sausage roll related Ricardo?

[93vintage 16]

It doesn''t sound as if there have been any big lessons learned, at least going by the questions and comments. Similarly it doesn''t appear as if there''s any kind of plan on how to get the club out the hole it''s in.Was there nothing about Ed''s 10 year plan? I wonder whether this is just a pipe dream that will be silently discarded.

[Alex Moss 2,165]

I finished work and couldn''t wait to get home to read about how the AGM went - thanks for your summary, Ricardo, it really is much appreciated.

One of my overiding feelings is I actually really couldn''t give a flying monkeys b0110cks how much Ed Balls was or is paid, and I think I''d only get upset about it if I was clinging on to the slightest detail to try and slag our great club over. For the record, all things considered, I''d have thought he''d get more than that such is the money in football these days. But, seriously, who gives a shit?! My concern is for on field matters, that''s what I support NCFC for, not so I can get falsely furious over the higher echelons bloody wages!

[morty 0]

[quote user="Alex "]I finished work and couldn''t wait to get home to read about how the AGM went - thanks for your summary, Ricardo, it really is much appreciated.

One of my overiding feelings is I actually really couldn''t give a flying monkeys b0110cks how much Ed Balls was or is paid, and I think I''d only get upset about it if I was clinging on to the slightest detail to try and slag our great club over. For the record, all things considered, I''d have thought he''d get more than that such is the money in football these days. But, seriously, who gives a shit?! My concern is for on field matters, that''s what I support NCFC for, not so I can get falsely furious over the higher echelons bloody wages![/quote][Y][Y][Y]

[Rogue Baboon 0]

McNally was on a lot more than 90k pa. Like Alex said, I just am not bothered that Balls got paid 90k for standing in as CEO.

The only thing I would say against that is when did he start acting as CEO, considering we were all under the impression Stone was covering that job as was reported?

I''m more interested in McNallys pay off - not because I don''t understand that high ranking employees get big pay offs, but more to do with the fact he resigned, then unresigned, then got paid off. Surely if you resign you forfeit that payoff?

[Bill 1,788]

[quote user="93vintage"]It doesn''t sound as if there have been any big lessons learned, at least going by the questions and comments. Similarly it doesn''t appear as if there''s any kind of plan on how to get the club out the hole it''s in.Was there nothing about Ed''s 10 year plan? I wonder whether this is just a pipe dream that will be silently discarded.[/quote]Stop making up stuff, the club is not in any holeProbably the healthiest it has been in it''s long existence

[93vintage 16]

[quote user="Zebediah Hush-Puppy"][quote user="93vintage"]It doesn''t sound as if there have been any big lessons learned, at least going by the questions and comments. Similarly it doesn''t appear as if there''s any kind of plan on how to get the club out the hole it''s in.Was there nothing about Ed''s 10 year plan? I wonder whether this is just a pipe dream that will be silently discarded.[/quote]Stop making up stuff, the club is not in any holeProbably the healthiest it has been in it''s long existence[/quote]Stop making up unfunny user names.

[morty 0]

[quote user="93vintage"][quote user="Zebediah Hush-Puppy"][quote user="93vintage"]It doesn''t sound as if there have been any big lessons learned, at least going by the questions and comments. Similarly it doesn''t appear as if there''s any kind of plan on how to get the club out the hole it''s in.Was there nothing about Ed''s 10 year plan? I wonder whether this is just a pipe dream that will be silently discarded.[/quote]Stop making up stuff, the club is not in any holeProbably the healthiest it has been in it''s long existence[/quote]Stop making up unfunny user names.[/quote]To be fair, its harming no one.Making up nonsense about a football club we should all care about, kinda is.Hope this clears things up for you.