Kevin

[ItCouldBeWorse]

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

 

[JohnDenver]

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

The banks made me sell Brooksy!

 

[Harry's Game]

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

 

[Nicolaus_Copernicus]

...as opposed to property speculation? They kept asking for more money, for more and more risky schemes, leveraged on less and less equity and banks kept giving it to them. The more they gave them, the more they took, it's clearly the bank's fault. The credit extending b*stards.

 

[Rodley]

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

A friend of mine was there and said he was superb and clearly passionate about SUFC. And that’s from a Leeds fan!

 

[ChipButtyBlade]

Dem Tuesday B..........moaning bastards were at again on RS.

 

[Rodley]

...as opposed to property speculation? They kept asking for more money, for more and more risky schemes, leveraged on less and less equity and banks kept giving it to them. The more they gave them, the more they took, it's clearly the bank's fault. The credit extending b*stards.

“Expert” on anything else Nic?

 

[LoughboroBlade]

“The banks need to return to the upper echeloans...”

 

[Cerberus Blade]

N

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

No like from me, I’m afraid.

He should shut up about the Tevez affair. It’s negative and backwards looking.

He should be forward looking and talking about the achievements of a team that is built on good footballing principles and defying financial odds.

 

[Nicolaus_Copernicus]

Still mining the seam 10yrs after. If we'd not spent money (fee and/or wages) on the likes of David Sommeil, Ahmed Fathy, Luton Shelton, Lie Tie and Mamadou Seck, and bought known, established, prem quality players, Tevez could have done what he wanted & it wouldn't have effected us.

 

[Nicolaus_Copernicus]

“Expert” on anything else Nic?

Opinionated on all topics, knowledgeable in none. I'm a bit of a sawdust expert

 

[Woodwardfan]

As an old fashioned banker I agree with KM about the banks; and Vince Cable in today's speech. Pull the rug the lot of them.

 

[I should coco]

...as opposed to property speculation? They kept asking for more money, for more and more risky schemes, leveraged on less and less equity and banks kept giving it to them. The more they gave them, the more they took, it's clearly the bank's fault. The credit extending b*stards

Sorry mate but that's bollocks.

I was a director of a small manufacturing service company just prior to the credit crunch and we were getting unsolicited calls from many banks offering money at stupidly low rates regardless of what we needed it for. I attended a seminar in 2008 where Natwest's Chief Economist told us how the banks had all got more than adequate provisions to cover the sub prime loans. Ho ho ho.

A year later all our terms went tits up and we had to fight to keep the small facility we'd always had. There was no realistic competition at that point and nobody could switch, as banks weren't interested in new customers.

KM would have been at the sharp end. Property development schemes that met all the criteria in 2007 were suddenly 'high risk speculation' by 2009. Property developers know about boom and bust and the better companies can work through this. What they don't expect is a complete refusal by the banks, to even lend on well secured schemes.

The classic definition of a banker is someone who pesters you to borrow an umbrella when it is sunny. Once it starts raining they want it back.
It was ever thus.

McCabe may be many things and have poor football knowledge, but please don't knock his business acumen. I don't know your circumstances but KM's family is almost certainly worth hundreds of millions more than you, due entirely to his decision making.

 

[Blade58]

Bet he couldn't wait to announce how work on the new stand upgrade begins at the end of the season

 

[Nicolaus_Copernicus]

Sorry mate but that's bollocks.

I was a director of a small manufacturing service company just prior to the credit crunch and we were getting unsolicited calls from many banks offering money at stupidly low rates regardless of what we needed it for. I attended a seminar in 2008 where Natwest's Chief Economist told us how the banks had all got more than adequate provisions to cover the sub prime loans. Ho ho ho.

A year later all our terms went tits up and we had to fight to keep the small facility we'd always had. There was no realistic competition at that point and nobody could switch, as banks weren't interested in new customers.

KM would have been at the sharp end. Property development schemes that met all the criteria in 2007 were suddenly 'high risk speculation' by 2009. Property developers know about boom and bust and the better companies can work through this. What they don't expect is a complete refusal by the banks, to even lend on well secured schemes.

The classic definition of a banker is someone who pesters you to borrow an umbrella when it is sunny. Once it starts raining they want it back.
It was ever thus.

McCabe may be many things and have poor football knowledge, but please don't knock his business acumen. I don't know your circumstances but KM's family is almost certainly worth hundreds of millions more than you, due entirely to his decision making.

Ok. I wouldn't say it's bollocks, but each to their own. I wasn't questioning his business acumen, just where he was apportioning blame.

 

[Woodwardfan]

Sorry mate but that's bollocks.

I was a director of a small manufacturing service company just prior to the credit crunch and we were getting unsolicited calls from many banks offering money at stupidly low rates regardless of what we needed it for. I attended a seminar in 2008 where Natwest's Chief Economist told us how the banks had all got more than adequate provisions to cover the sub prime loans. Ho ho ho.

A year later all our terms went tits up and we had to fight to keep the small facility we'd always had. There was no realistic competition at that point and nobody could switch, as banks weren't interested in new customers.

KM would have been at the sharp end. Property development schemes that met all the criteria in 2007 were suddenly 'high risk speculation' by 2009. Property developers know about boom and bust and the better companies can work through this. What they don't expect is a complete refusal by the banks, to even lend on well secured schemes.

The classic definition of a banker is someone who pesters you to borrow an umbrella when it is sunny. Once it starts raining they want it back.
It was ever thus.

McCabe may be many things and have poor football knowledge, but please don't knock his business acumen. I don't know your circumstances but KM's family is almost certainly worth hundreds of millions more than you, due entirely to his decision making.

KM is a great property business man but so, so fortunate his rise coincided with favourable business conditions, economy-wise and banks-wise. By the time the crunch came he was fireproof but not unaffected. It affected United through him at the same time.

Like generations, some business men are born at the right time and some, business men, generations are not. KM's generation and mine were so lucky.

Banks as we knew them no longer exist though, they sold themselves and their clients down the river and took their bonuses at the same time.

 

[BushBlade]

...as opposed to property speculation? They kept asking for more money, for more and more risky schemes, leveraged on less and less equity and banks kept giving it to them. The more they gave them, the more they took, it's clearly the bank's fault. The credit extending b*stards.

Have a read of The Big Short and Breakfast With Anglo for a more accurate summary of events.

 

[Nicolaus_Copernicus]

I was talking from personal experience.

 

[Sean Thornton]

Still mining the seam 10yrs after. If we'd not spent money (fee and/or wages) on the likes of David Sommeil, Ahmed Fathy, Luton Shelton, Lie Tie and Mamadou Seck, and bought known, established, prem quality players, Tevez could have done what he wanted & it wouldn't have effected us.

If Warnock hadnt wasted what money he was given on that load of shite - some for the future - it wouldn't have affected us.

 

[Sean Thornton]

I was talking from personal experience.

The banks funded your wild risky speculations?

 

[Broomhall Blade]

Dem Tuesday B..........moaning bastards were at again on RS.

Can't be right HMS Piss the league and win the FA Cup is full speed ahead according to Porktalk.
They have just signed the new Cruyff, who even without seeing him play know he is going to be their future Captain, because he errr apparently shouts alot.

 

[Nicolaus_Copernicus]

If Warnock hadnt wasted what money he was given on that load of shite - some for the future - it wouldn't have affected us.

Sorry, 'we' should've been 'Warnock'. It irks me about referring to Tevez, yep it's a factor, but there were others. 7 points out of 12 in the April and the need for 1 point from the last 2 games, should've sorted us.

 

[Nicolaus_Copernicus]

The banks funded your wild risky speculations?

I think that there was a feeding frenzy in the UK property industry between the late 90's and the 00's. I think a lot of contributory factors came into play both on the supply & demand side, that created a boom & subsequent bust. I think people on the property side will point their fingers at lending decisions and the behaviour of banks (to both developers & purchasers), and people on the banking side will point their fingers at the property side (developers & valuers). As I said, my comment was on the micro level from personal experience and not aimed at KM personally and not referencing the macro, nor was it intended to cover other people's experiences in manufacturing, etc, areas that I know nothing about.

 

[Sean Thornton]

N

No like from me, I’m afraid.

He should shut up about the Tevez affair. It’s negative and backwards looking.

He should be forward looking and talking about the achievements of a team that is built on good footballing principles and defying financial odds.

Maybe the money it's since cost him sticks in his craw?

The amount of moaning we all do on here is generally small fry compared to him. It's all his fault of course while I suspect any mishap to us lot is genuine "bad luck"?

 

[Blend-it-like-Harris]

"Too Big to Fail" by Andrew Sorkin, and "Fool's Gold" by the FT's financial journalist GillianTett give the lowdown on the bankers balls-up of the world economy. Slicing and Dicing mortgages and loans and re-packaging them as profitable "products" to sell on as untraceable and un-assessable debts whilst lining their pockets with the losses of every f*****r else was a con-trick unsurpassed in the history of finance.

 

[Nicolaus_Copernicus]

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

Was there a Q&A section afterwards? I'm hopefully getting tickets to his Sheffield Uni talk next month, and it'll hopefully be on the roughly the same topics.

Also trying to get tickets to see Henry Rollins talking show at the Uni as well.

 

[Esablade]

N

No like from me, I’m afraid.

He should shut up about the Tevez affair. It’s negative and backwards looking.

He should be forward looking and talking about the achievements of a team that is built on good footballing principles and defying financial odds.

‘Chris is a lucky lad’...

 

[nopigfansintown]

i attended an event in Leeds today where our illustrious leader was the guest speaker. I am sure there will be others on here who were at the same event, hosted at Bibis.

It was aimed at people in the property industry so most of what he said was related to his background in that world. However he did of course touch on his involvement with United.

He spoke for about 45 minutes and I thought he came across really well. Without doubt he is hugely passionate about united, he admitted that he has made big mistakes in the past (not for the first time) and that you cannot be successful without experiencing failure and learning from it.

Loved his comment that his diary has Tuesday A, then Tuesday B, “because I hate Wednesday”.

He bemoaned the bad luck that has cost us in the past as he has done many times before, principally the Tevez affair.

From a business perspective he was absolutely scathing on the role of the banks in causing the financial crisis, stating basically they cannot be trusted as we all thought they could and there has been no change in mindset fundamentally amongst lenders since then despite the crash.

A lot of what you've put in this Financial Times article, with some embellishments: https://www.ft.com/content/88ec6910-5f24-11e6-ae3f-77baadeb1c93

 

[Nicolaus_Copernicus]

A lot of what you've put in this Financial Times article, with some embellishments: https://www.ft.com/content/88ec6910-5f24-11e6-ae3f-77baadeb1c93

Interesting article NPFIT. So, that's the link to Shawbrook.

 

[Sean Thornton]

I think that there was a feeding frenzy in the UK property industry between the late 90's and the 00's. I think a lot of contributory factors came into play both on the supply & demand side, that created a boom & subsequent bust. I think people on the property side will point their fingers at lending decisions and the behaviour of banks (to both developers & purchasers), and people on the banking side will point their fingers at the property side (developers & valuers). As I said, my comment was on the micro level from personal experience and not aimed at KM personally and not referencing the macro, nor was it intended to cover other people's experiences in manufacturing, etc, areas that I know nothing about.

McCabe was well on the way to great wealth by then to be fair. I do however love the claim that business circumstances at the time made him"lucky" (not your quote obviously). The idea that property bust and boom was something new in the angelic world of old style banking is a myth. They were just as greedy but settled for smaller amounts at that time and didn't realise shareholders would sit meekly back while directors made huge increases to remuneration packages.

Clever people take advantage of such financial circumstances. Nothing to do with luck. In all my career the only "lucky" person success wise I ever met was a man who was promoted in order to get rid of someone else. Everyone else I've known has done it through simple hard work and taking good ideas to banks. You know, those people who caused a world wide financial crash.

Same with bad luck, appointing Turry and Red Wine Robbo wasn't bad luck, they were bad decisions. Them being wrong doesn't make the club unlucky.