Smorgon stated last week that we dont have the cash flow to see the year out.
If we can not pay our debts when they are due, it's deep shit.
Is that technically insolvent? I dont know but it's close enough for alarm bells to ring.

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Looking forward to seeing our potential realised.

no thats not technically insolvent.. ask pj canus and John Elliot...

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Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

As I understand it, you are technically insolvent when you don't have assets to cover your debts and don't have the current or reasonably projected income to meet future payment obligations.

When on the brink of insolvency, directors are supposed to either restructure the operatons, or finances, in some way to alleviate the risk of insolvency, or wind up and cease trading.

yep, you must have the ability to meet your debts as and when they become due.

Thats my understanding as well Heady.
That's why the AFL have been called in.

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Looking forward to seeing our potential realised.

So were not insolvent then, Right?

Look i think pj canus means well but has never asked himself this...because to ask questions requires thinking...

what would happen if we dont ask the AFL for assistance or get it???

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Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

This happens quite a lot in the real world only thing is most of these companies leave their creditors with nothing and open up down the road under a different name

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If you allow the Government to change the Laws in an emergency
They will create an Emergency to change the Laws

Are we going to Arden Street??

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Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

Could move to Sydney

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If you allow the Government to change the Laws in an emergency
They will create an Emergency to change the Laws

Synbad

Now you have outdone yourself.

Directors duties under s588G Corps Act - http://www.austlii.edu.au/au/legis/cth/ ... s588g.html

Insolvency - s95A Corps Act
http://www.austlii.edu.au/au/legis/cth/ ... /s95a.html




Read them, then tell me who knows what they are talking about, or are you still maintaining that every club that goes to the AFL is insolvent and that those directors allow the club to trade anyway?

Still awaiting your business plan for lost revenue for the 2-3 seasons you want to tank so that the board can avoid being put in the above predicament.

Oooh you got me there didnt you?????...

You must think i have never held a directorship in my life and am oblivious to the law???
On the other hand we will be going to the AFL to allow us to pay bills...

My business plan is to get the AFL money like were going to do because we dont have the money to not get the AFL money to pay our bills..

And by coming last with 4 games.. wont make any difference to our finances compared to coming last with 5 wins or 6 wins and second last.. and we have enough kids to make people want to come and see us...

Hard for you to comprehend pj canus???

But your business plan is to win 6 games and not get all the best kids we possibly can and get help by the AFL to pay bills..

Right???

See.. youre thinking about paying those bills which will be met anyway.. (Because the AFL have that obligation and were at the point of insovency)... but youre not thinking about after that what happens??

People want to see excitement and power.
As that wont be happpening for 2 or 3 yrs anyway.. dont you think a game or two wont matter in those stakes but 2 or 3 extra kids will make all the difference after???



Over to you pj canus.. (Corporate lawayer i assume) or maybe an accountant????)

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Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

We're going to bottom out again this year regardless if we tank or not. We only have 2 mid season, so there's a chance we could win 4. I want to win every game possible, and if that means 2,3,4,5 or 6 (wishful)...so be it.

2006 is at this stage, a non event for us. However, I agree we do need to create some excitement in the latter part of the year for many good reasons, so if we win our last 3 of our 4 games and none before, that'll be a good effort.

Hawks, Rich, Coll, Swans are our last 4 games.

Tanking is not an issue for me this year, as I don't think now we'll end up higher that the Kangas (likely to end 3rd last).

We will get draft picks 1-2, maybe 17, 18 or 19, and 34 or 35. That's 3-4 choice picks of more 'quality' kids. From my analysis, we already have a really good group of 20 'kids' in their teens and early 20's that will take us places, as they develop into men, and add 3 more (and if one happens to be a ruckman), we should be ready to steer the ship in the right direction over the next decade, whilst other teams age and end their era of dominance. I'm sure we wont make the same mistakes of the Elliot era.

No tanking should ever be considered or talked about beyond this year. It's not necassary, because premierships are not a given, but a winning cilture is if we are to get this proud club back to its former glory.

Lets make carlton the place to be for members and sponsors asap.

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Everyone looks good in Navy Blue

You have to educate your members to understand that going through pain of winning 4 but gaining picks will make them happy little chappies in 2 years time.

There is NO POINT IN WINNING MEANINGLESS GAMES OF FOOTBALL as we have found out...

scraping a win here or there means nothing long term.
\what means something under this system is accumulating good AFL footballers who then get developed as best we can develop them for a tilt at a flag...

Winning 5 and missing out means youre not improving tomorrow and the day after tomorrow..

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Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

1986 - sign and pay for: Kernahan, Motley, Bradley & Dorotich.


2006 - finish last with 4 wins and get picks 1, 17, 18 & 34
or finish 13th with 6 wins and get picks 4, 20 & 36


Its pretty simple Synbad - but lots of people dont seem to have grasped the concept yet.

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"Hence you will not say that Greeks fight like heroes but that heroes fight like Greeks"?

Winston Churchill

Hi again, Synbad - time for My Ideal World to enter the debate.

With respect to your plan - what would you envisage as our preferred W/L ratio over the next, say, five years?

Because from where I'm sitting you see token wins as pointless. You seem to think winning six games is BAD.

So how do we plan for the next five years? Do we win four or less in 06 and 07? Five or less (depending on whether there's anyone below us) in 08 and 09? And then magically win the premiership in 2010?

Or do we win what we can win this year. Win what we can win the following year - so that we make a gradual rise toward premiership contention (after spending a couple of years AT LEAST in finals contention).

What I don't get is - what's our next step after winning four or fewer games? When is it safe to win more games and begin to finish (shudder) mid table?

And I dare say I could have summed this up in one paragraph but I have plenty of time on my hands at the moment - so just plod through it all, ok?!

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"In better news for Blues fans, Jarrad Waite was not named on the club's injury list."

Oh shit, and by the say - I KNOW WHAT YOU'RE SAYING and I generally agree with you! I'm just wondering - is all

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"In better news for Blues fans, Jarrad Waite was not named on the club's injury list."

Unfortunately its the system that we now live in - from a list perspective finishing 10th in 2004 was bad, as it set back our list improvement back, financially in the short term (couple with our Wizard Cup win in 2005) it was good as we had a spike in membership.

No-one (not even Synbad ) wants to see us continually lose - but the best way of improving your list is with early draft picks. AFAIC if we win 5 games this year and cost ourselves another top 20 pick I will be livid.

Hey if I could I would love to pull out the 1986 chequebook again and recruit Kernahan, Motley, Bradley and Dorotich - but it aint going to happen that way.

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"Hence you will not say that Greeks fight like heroes but that heroes fight like Greeks"?

Winston Churchill

WHEN YOU HAVE A GROUP OF YOUNG PLAYERS COMING THROUGH THAT HAVE THE TALENT TO ONE DAY WIN A PREMIERSHIP NOT JUST SNEAK INTO THE TOP 8.

FINISHING WITH LESS THAN 4 WINS IN 2007 WILL ENSURE WE HAVE A GROUP OF YOUNG PLAYERS ON OUR LIST ONE DAY CAPABLE OF ACHIEVING A PREMIERSHIP. 6-8 GENUINE 'A GRADE' PROSPECT PLAYERS, NOT THE 3 OR 4 WE HAVE NOW. A GRADE BEING FUTURE TOP LINERS, PLAYERS LIKE ANDREW WALKER ARE NOT A GRADE, PLAYERS LIKE MARC MURPHY ARE.



IF WE FINISH WITH 6 OR 7 WINS THIS YEAR AND THEN 10 THE NEXT THERE WILL BE NO GRADUAL RISE TO A PREMIERSHIP, WE DON'T HAVE THE TALENT BASE - ITS NOT ROCKET SCIENCE.

Did someone say "accountant". Hi I'm Jacques, the bad credit expert.

We are insolvent. Technically. Except for the AFL standing behind us bit we are anyway.

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I support Carlton, Fulham and I'm an accountant - my mate calls me a 3 time loser.

It's back!!!! TalkingTanking ver.2006

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There's so much I could say...