Some Club Staff Salaries Late/Embargo Chat - now resolved (for now)

[Yorkshire Blue]

Is that for definite Yorkie? Surely an element of the payment should come to the Club as soon as the transaction is made?

I’m not privy to the contractual arrangements but that is what the club told us and it makes sense for the reasons @Supershrimper says. I don’t see a reason to doubt it.

 

[Supa Shrimpa]

Does not add up to me, why would we be spending thousands on renewing the pitch and not paying members of staff.
I am sure if there was any truth in this CP would be all over it.

Who says the people re-laying the pitch will be paid ?

 

[Userorange]

Who says the people re-laying the pitch will be paid ?

Are you sowing a seed of doubt? I’m sure they will. It’s best not to mess with people on their own turf.

 

[Mr Browns Ghost]

I predicted this stuff would return and sadly it looks like I'm right. I fully expect an embargo at some point too.

whats to suggest we aren't in one now? ...

 

[brigg blue]

whats to suggest we aren't in one now? ...

What's to suggest we are?

 

[Supa Shrimpa]

Are you sowing a seed of doubt? I’m sure they will. It’s best not to mess with people on their own turf.

well, they could leave and start another job somewhere else, but the grass isn't always greener !

 

[Rob49]

If this is true and by all accounts it is then this is terrible news for the hard working members of staff especially in the current economic circumstances we all find ourselves in. Its disgraceful and cannot be excused.

 

[sufc4life21]

Thought things were changing at Southend for the better..... clearly not by looking at this thread. Like the old saying goes a Leppard never changes his spots. Still FF starts work this year

 

[Ghost of C.F.]

...we need Ron to sell the club (and the assets he holds) to someone that has the resources to take this club foward.

Who do you suggest?

Yes, that is exactly the right question to ask . But the person who buys up the property does not need to be the same person that buys the club . My suggestion is to sell off all the property to Homes England.
Reason : They are government backed and have loads of money . And we really do need loads of money - so it is a perfect fit.
The position with the club is much more interesting. I don't see that it need be a rich private owner at all . As someone else pointed out on here we need to learn to live within our means . Perhaps Tom could set a balanced budget that does not rely on Ron ( or more correctly Ron's financiers) for extra cash . Survival is more important than new summer signings . The backroom staff are every bit as important as the players .

 

[tommy tucker]

Rather than being a bit ..Bore Holeing .Maybe cris Philips can do some digging to find out if its true that we might be under an embargo .Or dispell any seeds of doubt .

 

[JD]

Thanks for that @Supershrimper, now it makes sense. Pretty rubbish for the retailer though hence the cash/bank transfer stream.

There might also be an initial deferment period too. So it’s possible the club won’t get anything for say 30-60 days, before it’s drip fed.

 

[JD]

These situations, more often than not, result in Ron finding cash (most likely borrowed against assets) through his myriad of companies, which then gets lent to the club.

But it’s done reactively rather than proactively.

If Fossetts is so important and he is already “all in”, why oh why can’t he just look at the projected cash flow and inject sufficient capital to cover any shortfalls for say 12 months.

He will end up doing it anyway, but by being reactive our awful financial reputation just gets worse and worse (if that’s even possible).

 

[pottster]

It's quite apparent that this situation happens every year at the same time. I'm hoping that lessons have been learnt from previous seasons. The housing market cooling off may affect Ron's ability to raise cash against his existing assets. So that may cause problems, but as said previously you would think that they would be more proactive to make so cash is there.

 

[sufc58]

Which staff haven’t been paid, this comes on every transfer thread

Know for a fact groundsmen haven't been paid yet

 

[Dutch Branch]

Just as a matter of interest. Wasn’t Ronald supposed to appear in court again at the end of last month prior to his trail date next year of 23rd Jan 23.

 

[OldBlueLady]

It's quite apparent that this situation happens every year at the same time. I'm hoping that lessons have been learnt from previous seasons. The housing market cooling off may affect Ron's ability to raise cash against his existing assets. So that may cause problems, but as said previously you would think that they would be more proactive to make so cash is there.

Where do you get that idea from?

 

[Supa Shrimpa]

Where do you get that idea from?

Hardly cooling off. There's a desperate need for more housing, especially at the lower end.

 

[Massimo Giovanni]

Hardly cooling off. There's a desperate need for more housing, especially at the lower end.

Interest rates will keep going up for next 2 years so the individual buying of starter style homes may wane.
The, imo, biggest under serviced sector of the housing sector is for what was called council housing, including properties that used to be solely provided for essential workers and the independent elderly down sizing from the council house they have had for 40 plus years and not bought.
The " right to buy" had many good points but not having that stock of housing has caused a large and oft ignored sector.

 

[pottster]

Where do you get that idea from?

https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://www.ft.com/content/68bee4b7-978d-4098-bace-68b224949109&ved=2ahUKEwj1zrLK6Kf4AhWBgVwKHYdrArYQFnoECDMQAQ&usg=AOvVaw16k5t_dF-Dp5rLSt7-3xX6

Sorry behind a paywall. But ft article

 

[Napster]

Hardly cooling off. There's a desperate need for more housing, especially at the lower end.

Here you go https://www.bbc.co.uk/news/business-61729890.amp