Dubai and Liverpool FC

[coop]

Howdo Coop. Any idea how long they would have to pay back the loan if RBS pulled the plug? Presumably it wouldn't be overnight? One might plausibly be talking of another 6 months from the July deadline, with the club simply being charged extra interest?

 

So even July may not bring a resolution?

 

No idea mate because i don't know the terms of the refinance but i would imagine RBS would notify them well before July that they were calling the loan in.

 

Hicks and Gillett may already know what RBS will do in July as they may well have already told them hence Hicks releasing information via his PR team about a potential take over with Kuwait to try and flush the investors out now.

[Code]

 

I hope you choke on your next sausage roll you cunt.

[Barrington Womble]

Howdo Coop. Any idea how long they would have to pay back the loan if RBS pulled the plug? Presumably it wouldn't be overnight? One might plausibly be talking of another 6 months from the July deadline, with the club simply being charged extra interest?

 

So even July may not bring a resolution?

 

My understanding is officially they have till that day in July to repay - from there RBS can/will take the guarantees that were offered to them if the money isn't forthcoming. I don't know if they'd need to go through the courts to get them though. However, I feel sure if there was a firm offer on the table for the club at the point G&H would be forced to accept it.

[Guest Kenny]

from the Echo

 

Meanwhile, Tom Hicks has again insisted he has no plans to part with his 50% stake in Liverpool, despite holding unsuccessful talks with Kuwaiti billionaire Nasser al Kharafi.

 

Hicks maintains he is looking to oust George Gillett from Anfield and claims his meetings with al-Kharafi were held to examine ways of buying out his co-owner.

 

But with al-Kharafi now having walked away from the negotiating table, the Texan will have to hope that one of the other potential investors identified by Merrill Lynch will come to his aid.

 

Hicks, who declined to comment on the matter when approached by the ECHO, told diners at a Dallas banquet: "Don’t believe everything you read.

 

"I’m not selling. I’m bringing in a new partner to buy out my current partner."

 

Meanwhile, reserve team striker Krisztian Nemeth is set to join Championship outfit Blackpool on loan until the end of the season.

[The Acolyte]

Also people what about Wachovia, the other bank involved in the refinance and got swallowed up by Wells Fargo?

Got this from RAWK:

 

Wells Fargo May Face Doubt on Wisdom of Wachovia Deal

 

By Ari Levy

 

Jan. 26 (Bloomberg)

 

Wells Fargo & Co. investors will find out this week whether the lender, like Bank of America Corp., underestimated the risks of buying a failing competitor in the middle of a credit crisis. Wells Fargo, the second-biggest U.S. home lender, will post fourth-quarter results on Jan. 28, the last of the four largest banks to report. The bank may also update the status of Wachovia Corp., the North Carolina lender that almost collapsed before Wells Fargo Chairman Richard Kovacevich and Chief Executive Officer John Stumpf outbid Citigroup Inc. for control.

“They’re going to be under tremendous pressure to explain clearly the rationale for the merger and how they’re dealing with billions of dollars of tainted, toxic assets,” said Frederic Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon, which manages $20 billion. “Every bank that’s reported has missed their numbers by a country mile and indicated more reserve write-off requirements are coming.”

 

Wells Fargo may report a 9.3 percent decline in fourth- quarter profit to $1.23 billion, or 33 cents a share, according to the average estimate of analysts surveyed by Bloomberg. That doesn’t include Wachovia, acquired this month. With foreclosures at a record and the jobless rate at a 16-year high, analysts have speculated San Francisco-based Wells Fargo will need to raise more cash and cut its dividend to cover defaults from Wachovia’s $122 billion option adjustable-rate mortgage portfolio.

 

Wells Fargo spokeswoman Julia Tunis Bernard declined to comment.

 

Takeovers Targeted

 

Of Wells Fargo’s three biggest competitors, only JPMorgan Chase & Co. reported a fourth-quarter profit. Earnings at the New York-based company fell 76 percent to $702 million as the bank added $4.1 billion to its loan-loss reserves. New York’s Citigroup reported an $8.3 billion loss, announced plans to split in two, and then removed Win Bischoff as chairman.

 

Bank of America’s acquisitions came under fire after the Charlotte, North Carolina-based company recorded a $1.79 billion loss, not including a $15.3 billion deficit at Merrill Lynch & Co., acquired on Jan. 1. The bank also bought Countrywide Financial Corp., the biggest U.S. home lender, in July. The Merrill loss led to the ouster of John Thain, who orchestrated the sale, and forced Bank of America CEO Kenneth Lewis to seek another $20 billion investment from the government on top of the $15 billion injected in October. Analysts are now questioning whether Lewis will keep his job.

 

Stumpf, 55, took over as CEO of Wells Fargo in June 2007, replacing Kovacevich, 65, who stayed on as chairman. Kovacevich led the Wachovia purchase, trumping a bid from Citigroup. Wells Fargo has lost more than half its value since its offer.

 

Loan Losses

 

“I’m sure losses have surprised them on the upside as this thing has deteriorated faster,” said Bill Frels, chief executive officer of Mairs & Power Inc. in St. Paul, Minnesota, who has been selling Wells Fargo shares. “Loan-loss experience was much worse in the fourth quarter than anybody imagined.”

 

Wells Fargo received $25 billion in October as part of the Treasury’s industry bailout and raised $12.6 billion in a stock offering the following month. Investors who bought the new shares at $27 apiece and held on through last week suffered a 46 percent decline, all of it in January. The shares rose 4.4 percent to $16.57 in 10:01 a.m. New York Stock Exchange composite trading.

 

Last year, as Citigroup and Bank of America lost more than half their value, Wells Fargo slipped 2.4 percent and the company boosted its dividend. The bank’s biggest shareholder is billionaire Warren Buffett’s Berkshire Hathaway Inc.

 

Unemployment Rises

 

To absorb Wachovia and maintain capital, the bank may need to cut its payout and raise an additional $10 billion, Atlantic Equities LLP analyst Richard Staite wrote on Jan. 14. Friedman Billings Ramsey Group Inc. analyst Paul Miller, in a Jan. 20 report, slashed his 12-month share price target to $12, writing that a “dividend cut will further pressure the company’s valuation.”

 

The bank’s outlook is clouded by Wachovia’s option-ARM loans. The mortgages let borrowers skip some interest payments and add them to the principal of the loan. This provision backfired during the housing slump because the size of the mortgages kept rising even as home prices fell. Some loans became bigger than the value of the house, which means the bank can’t recover the full value of the loan if the borrower defaults.

 

Since the Wachovia agreement in October, economists on average have raised their estimates for U.S. unemployment to 8.3 percent by the third quarter of 2009, from 6.2 percent. There were 3.2 million U.S. foreclosure filings last year, compared with 2.3 million in 2007, and that may rise 50 percent in the first half of this year, according to RealtyTrac Inc., an Irvine, California-based seller of default data. Wells Fargo ranks second in U.S. mortgage lending behind Bank of America, which is also the largest by assets.

 

“Just about every institution in the mortgage space faces heightened risk this year,” said Walter Mix, former commissioner of the California Department of Financial Institutions, and currently a managing director at consultant Secura Group of LECG in Los Angeles.

 

To contact the reporter on this story: Ari Levy in San Francisco at alevy5@bloomberg.net.

Last Updated: January 26, 2009 10:12 EST

 

Bloomberg.com: Worldwide

[Xherdan]

Meanwhile, reserve team striker Krisztian Nemeth is set to join Championship outfit Blackpool on loan until the end of the season.

 

 

WTF?

[philyhamann]

I'm still confused over all of this, I know Gillett is a cunt and everything, but isn't he helping us out by saying its all or nothing?

[Code]

WTF?

 

I thought it was only 1 month.

[Captain]

I'm still confused over all of this, I know Gillett is a cunt and everything, but isn't he helping us out by saying its all or nothing?

 

I doubt it. I can't see anyone buying 49% of us to invest with Hicks.

[ratcatcher]

I thought it was only 1 month.

 

Nope. Its a month with a view to the end of the season.

 

Blackpool snap up Liverpool striker - Blackpool Today

[Guest Kenny]

whats happens if just before July's refinancing is due and GG refuses to and says there is a offer on the table he finds attractive, what would happen regards Hicks share? can he be forced to sell.

[gatnick]

http://www.dfm.ae/charts/Charts.asp?id=HG_MarketIndex&period=1YR

Stumbled upon this, it might not be relevant at all but i figured it should go in this thread.

[gatnick]

double post

[ScottyT]

Is there anything relevant on this thread?

 

Fair play to Dubai, all that money despite an amateurish business conduct.

[navbasi]

My mate recently moved to Dubai on a 5 year contract and he was in London over the weekend as he was recruiting for a vacancy that he had. He got it down to 2 lads, both as good as each other but one supported Utd and the other supported Liverpool and was from the Wirral..

 

Guess who's getting the job?? Hahaha!

 

So if you are from the Wirral and had an interview on Friday for an Analyst role in Dubai, Congratulations mate, you've got the job... You should hear back very soon with the good news!!! I made sure my mate made the right decision!! ;-)

[18-5]

How does one use the search function on here?

 

It never works for me.

[navbasi]

How does one use the search function on here?

 

It never works for me.

 

I use Google mate.

 

To find this I just typed in - Dubai, the liverpool way forum

 

dubai the liverpool way forum - Google Search

[18-5]

I use Google mate.

 

To find this I just typed in - Dubai, the liverpool way forum

 

dubai the liverpool way forum - Google Search

 

Thank you.

[RobbieOR]

The reality is lads if we dont get rid of those 2 cunts soon were fucked, if they stay there is no transfer budget next season, I mean not 1 cent is gona be given to Rafa(or somebody else more likely) to fund players, and with the way City Spurs and Villa are spending money it wont be to long before there ahead of us, and when that happens(not if when) we'll start a major slide players will leave H&G will pocket the money and then fuck off when were Relegated or down that end of the Table, The reality is this could happen people might say we'll never be another Leeds and yes we might not go that far but if Hicks is here in 2 years we can kiss goodbye to Torres Maschereno and the clubs pride. The man who deserves to be slaughterd for this is Moores and the fact he can sit in Anfield on matchday like hes done no wrong is beyond a joke!

 

It's strange how accurate people can be. But in hindsight, this was bang on the money.

[DiddisSillyRun]

The man who deserves to be slaughterd for this is Moores and the fact he can sit in Anfield on matchday like hes done no wrong is beyond a joke!

 

That still sticks in my craw now.

[navbasi]

The man who deserves to be slaughterd for this is Moores and the fact he can sit in Anfield on matchday like hes done no wrong is beyond a joke!

 

That still sticks in my craw now.

 

I don't he comes to matches anymore. Didn't he say in his open letter to The Times that he hasn't been back since he sold the "family Silver..."

 

Good, he's not fucking welcome the Freddy Boswell looking cunt.

[coop]

Mick and Al scared Moores off.