"Lowe understood to have led Barclays to consider protecting bank staff at weekend"

[saintwarwick]

Yep, I appointed two clueless Dutch minor league idiots and loaned all our strikers out...

 

Maybe if we kept our strikers we could of gone into administration before christmas

[saintwarwick]

But that's probably why they aren't taking government aid. They're cutting

their losses by any means. People who aren't hopelessly adrift have to pay to shore up those who are. Bet if we (Saints) were with the RBS we'd be AOK.

 

16 months ago Barclays were not announcing losses but huge profits, we were paying of the overdraft as in the agreement and also interest charges so they were getting their money back but were also earning extra money through the interest charges.

[Guided Missile]

Which is why if you have read any of my other posts you will clearly see that I too think we may well fold, as I think it will be impossible to come up with any funds given the financial crisis we find ourselves in.

The most recent post of yours' I was unfortunate enough to read was this one:

Hopefully those who showed an interest in 2006 will now finally step up to the plate and make something happen this time around e.g. Goodenough, Salz, Davies (and even Crouch maybe).

 

I wouldn't even be averse to Lowe chipping into the pot.

 

I am struggling to get the sense from this one, that you currently think it will be impossible to come up with any funds....

[exit2]

After what Mark Fry said yesterday about they are hoping there will be enough cash to run till the end of the season, just shows how in the ****e we are. It is obvious that there was an OD limit of £4m and asking for it to be extended does show poor leadership. We didnt all of a sudden get close that limit it has been close for sometime. Barclays has obvioulsy looked at the cash flow predictions and thought mmmmmm this isnt good. A 100k extension could lead to and £200k extension and etc etc.

 

We are coming to a very lean period ie the closed season, with players wages still going out but none coming in from gate reciepts, advertising etc etc. OK you have season ticket renewals but that is just a temp peek. If we had stayed within the OD limit I think it would have been fine but we didnt we asked for more.

[saintwarwick]

Just had a tenner on Time For Rupert at 50/1 , just had to back it

 

Hope you're donating your winnings to the cause

[Window Cleaner]

16 months ago Barclays were not announcing losses but huge profits, we were paying of the overdraft as in the agreement and also interest charges so they were getting their money back but were also earning extra money through the interest charges.

 

But they've always had a pretty hard line policy haven't they?

Some very astute people saw all this coming a couple of years ago,Barclay's probably employ most of them. Their exposure was less and although their profits are seriously down they have come out on the + side of the ledger with

relatively little toxic debt and decent cash reserves.

There are banks across the world who have very little exposure to sub prime related losses. Ordinary banks who have independent investment arms I suppose.My bank was completely untouched, got a letter from the PDG which said so with this month's statement.Whether they stay untouched for much longer is yet to be seen.

[um pahars]

The most recent post of yours' I was unfortunate enough to read was this one:

 

 

I am struggling to get the sense from this one, that you currently think it will be impossible to come up with any funds....

 

 

Ok Don Quixote, I'll go a bit slower this time:

 

1. I don't think we wil be able to raise the necessary funds in time, given the financial crisis that is affecting everyone, our debts etc etc etc

 

BUT,

 

2. That doesn't stop me from hoping (if not praying) that some benefactors out there might be just find it in their hearts to club together enough money to see us through.

 

In layman's terms: my head says we have little chance, but that doesn't stop my heart from thinking someone might just be able to pull it off.

[bridge too far]

But they've always had a pretty hard line policy haven't they?

Some very astute people saw all this coming a couple of years ago,Barclay's probably employ most of them. Their exposure was less and although their profits are seriously down they have come out on the + side of the ledger with

relatively little toxic debt and decent cash reserves.

There are banks across the world who have very little exposure to sub prime related losses. Ordinary banks who have independent investment arms I suppose.My bank was completely untouched, got a letter from the PDG which said so with this month's statement.Whether they stay untouched for much longer is yet to be seen.

 

Mine too - but it is owned by its account holders, not shareholders and its investments are ethical and not high risk.

[Mower]

LOL, I guess you weren't up in the City this week!

 

Well this is the clarification I've been waiting for - forget the sniping about the boardroom and whether you blame Lowe or Wilde or the tooth fairy, here we have it in black and white... Barclays are the ones who stuck the knife in. From £0 to £6.3m in 2 years whilst we lost our parachute payments - who the F*** was stupid enough to (a) offer that extra level of debt and (b) who was stupid enough to sanction it?

 

I would be surprised if there isn't a case against the execs at the time for negligence and breach of fiduciary duty. Unbelievable.

 

 

Don't you think that it's rather childish of Lowe to blame the bank? Yes, the lending policy seems baffling but it still took the idiots running SFC to spend the money. After all, just because you have the capacity to borrow, it doesn't mean you have to use it.

[Guided Missile]

And if you go back and dig up all of my posts then you will see that I was first concerned about our financial status way back in 2005, but of course then it was just dismissed as anti Lowe rhetoric, despite it being patently obvious that any "established" club who gets relegated will have some serious financial problems.

 

Alright, Steve, here's a "scathing" critique of Lowe by you on the Saints' list from 2005. I struggled hard to see where your financial concerns were voiced, nor any anti-Lowe rhetoric.

 

Finger on the pulse? More like a finger up your nose....

 

Posted: Tue Apr 26, 2005 7:52 pm

My personal opinion about Lowe is that he has now reached the end of his tenure at Saints.

He should be praised for dragging this club kicking and screaming into the 21st century (we probably missed out the 20th century as well along the way),and he has worked well to make almost all aspects of the club much more professional. His rewards for doing so were a decent salary, bonuses, perks and share options, and he totally deserved all of these.

That said recent decisions, results and the position we now find ourselves in now are also a direct result of his (and the boards) leadership and strategies. No one has a guaranteed job for life, and I believe what is needed now is a shake up in the boardroom, and a leader who can deliver us from the mess we are now in.

After delivering the changes necessary at the club, he has been found wanting in his ability to take us to the “next level”, and in this “results driven business”, the results have not been good enough. Whether as a shareholder or supporter we have allsuffered from his leadership over the last couple of seasons.

Almost all of our recent troubles have resulted from two very poor managerial appointments after WGS left. Regardless of why they left, both appointments were abject failures and contributed to the malaise at the club, and for that he and the board must carry the can. In any other business, two such poor appointments (and I’m forgetting about Gray here!!!) followed by failure in the market and a potential for the turnover to almost halve would lead to dismissals and/or resignations.

The players can certainly take their share of the blame, but in their defence any organisation will struggle to perform at its best against a backdrop of managerial changes, insecurity, changes in tactics, changes in playing staff, different approaches to training & motivation etc. You can blame the short-term mercenaries, but given our position in January, they were all we were ever going to be able to attract.

Nothing personal against the man, and I’m not a knee jerker looking for anyone to blame, I just believe Lowe has taken this club as far as he can, and with hindsight he’s been around too long, and as a result will be the man who has ended our clubs sojourn in the top flight.

Thanks for your efforts Mr Lowe, and whilst I am grateful for all the sterling work you have put into Saints over the years, nothing can outweigh the huge cost to the supporters of presiding over a relegated club (emotionally and financially).

[alpine_saint]

Maybe if we kept our strikers we could of gone into administration before christmas

 

Then maybe we could have been bought and survived the 10 points drop.

[St Landrew]

There's no bad feeling against Barclays a far as I'm concerned and know. In the article, the most important to stand out for me was that the Bank wanted the club to find a new owner.

 

In that, both the bank and the fans are in complete agreement.

[um pahars]

Alright, Steve, here's a "scathing" critique of Lowe by you on the Saints' list from 2005. I struggled hard to see where your financial concerns were voiced, nor any anti-Lowe rhetoric.

 

Finger on the pulse? More like a finger up your nose....

 

I have to say that's a great post by me and I stand by everything on there. Fair, balanced, not knee jerk, deserved praise where it's due and like wise criticism where it was worthy and an honest assessment that he ultimately failed.

 

What part of it don't you like????

 

In fact I even allude to the forthcoming financial cost of relegation in the last sentence (something which I then extended on once relegation was sealed).

[saintinlondon]

Just boycott barclays.

Ive already sent my email complaint to them and copied it below.

We need to get barclays to back down - or pray.

 

Send to : customer.relations@barclays.co.uk

 

Dear Barclays,

 

I am writing to complain in the strongest terms possible about the news regarding your overdraft facility withdrawal with Southampton football club that has triggered administration of the holding company and possibly bringing the club to the point of extinction.

 

I will be encouraging all my family members and my 140 staff to to cancel their banking accounts and any commercial arrangements with Barclays Bank and will never consider any trade, domestic or business relations with you or your subsidiaries ever again as a consequence. I am also copying this to the Saints list which is a worldwide supporters web group in the hope that action is also undertaken internationally.

 

I believe your action in this matter is an affront to the people of Southampton for whom the football club is and has been an essential part of the community. It is a decision that hits the very heart of a proud city in which you do business. I cannot understand how this badly judged PR implications decision can marry up with your long term goals to provide profitable banking and financial service to the Southampton city and community in which you work. The loss of our accounts will far outweigh the overdraft fees and profits you wish to receive so I ask you to reconsider your position on Southampton football club.

 

Giordano Orsini.

General Manager.

 

haha i love it!! good man

[eelpie]

From replies to the Standard's article:

 

"Last week's deadline doesn't affect the fact of the 10-point penalty for entering administration, only its timing. Assuming that the argument that it's not the football club that is in administration, but its holding company, fails, the difference is that if administration had been entered before last Thursday, the 10-point deduction would have been immediate; having waited until after that date, the deduction is deferred until the end of the season, and if Saints are in the bottom 3 and relegated anyway, the deduction is imposed next season; if Saints manage to avoid the bottom 3, the deduction is imposed this season (which would probably put us back in the bottom 3 and still relegated)."

 

Is that correct? If so, and the FL insist on the points deduction we are relegated anyway. BUT we still are playing for the deduction THIS season not next. This is vital.

[Legod Third Coming]

LOL, I guess you weren't up in the City this week!

 

Well this is the clarification I've been waiting for - forget the sniping about the boardroom and whether you blame Lowe or Wilde or the tooth fairy, here we have it in black and white... Barclays are the ones who stuck the knife in. From £0 to £6.3m in 2 years whilst we lost our parachute payments - who the F*** was stupid enough to (a) offer that extra level of debt and (b) who was stupid enough to sanction it?

 

I would be surprised if there isn't a case against the execs at the time for negligence and breach of fiduciary duty. Unbelievable.

 

Banks.

 

Like they lent 125% mortgages and loans to people with no jobs.

 

Because despite telling everyone on paper that asset values can rise and FALL - the whole lot of them forgot.

 

I had a meeting with C&G who were firing decent mortgage brokers so they could concentrate on sub-prime debt - unbelievable...

 

Fecking muppets all of them - apart from the honest buggers sat on the tills dolling out smaller and smaller amounts of cash and being lambasted for the failure of their paymasters, the Bank of England and totally incompetent Chancellor and now Prime Minister!!!

 

And Lowe was a banker - says it all...

[Saint Fen]

Who knows how we ended up with a £6.5million overdraft, but it is true that when RL left there was no overdraft, and when he came back there was £6.5million worth of one. Somewhere in there is the main problem.

 

Yep.

 

Two years in the Championship after Lowe got us relegated

 

Well Lowe is definitely to blame for us being relegated but going into admin is all of Wilde's blame I'm afraid, Lowe left the club in good financial health (Although not on the pitch!), Wilde comes in spends loads of money and three years later we are no better on the pitch but with the football club future under a cloud.

 

This is our fourth season in the Championship may I add which is Lowe fault

[saintwarwick]

But they've always had a pretty hard line policy haven't they?

Some very astute people saw all this coming a couple of years ago,Barclay's probably employ most of them. Their exposure was less and although their profits are seriously down they have come out on the + side of the ledger with

relatively little toxic debt and decent cash reserves.

There are banks across the world who have very little exposure to sub prime related losses. Ordinary banks who have independent investment arms I suppose.My bank was completely untouched, got a letter from the PDG which said so with this month's statement.Whether they stay untouched for much longer is yet to be seen.

 

But as I said in my previous post Barclays had agreed the current overdraft facility some three months previous and were happy with what they saw with our books. All payments were up to date as per agreement. The fact they binned our business manager after 5 1/2 years, sent a new one out to tell us to clear the overdraft within five days without any explanation is a bit baffling. He didn't want to check the last agreement and how we had kept to it or check the full order book.

[Guided Missile]

I have to say that's a great post by me and I stand by everything on there. Fair, balanced, not knee jerk, deserved praise where it's due and like wise criticism where it was worthy and an honest assessment that he ultimately failed.

 

What part of it don't you like????

 

In fact I even allude to the forthcoming financial cost of relegation in the last sentence (something which I then extended on once relegation was sealed).

I think it's a fair post leaving me wondering why, after Wilde pitched up, you suddenly thought Lowe was the devil and Wilde the answer to everything. It's clear to me that you lost all objectivity when you led the Saints Trust to the fatal decision to back Wilde and to this day, you try and steer every thread towards an anti-Lowe egenda, when that 2005 post shows you were actually grateful for what he had achieved.

Crouch apologised in the Echo for backing Wilde. Why the **** can't you?

[saintwarwick]

Then maybe we could have been bought and survived the 10 points drop.

 

Like we've had had a queue waiting to buy our club in the last few years

[exit2]

Posted: Tue Apr 26, 2005 7:52 pm

My personal opinion about Lowe is that he has now reached the end of his tenure at Saints.

He should be praised for dragging this club kicking and screaming into the 21st century (we probably missed out the 20th century as well along the way),and he has worked well to make almost all aspects of the club much more professional. His rewards for doing so were a decent salary, bonuses, perks and share options, and he totally deserved all of these.

That said recent decisions, results and the position we now find ourselves in now are also a direct result of his (and the boards) leadership and strategies. No one has a guaranteed job for life, and I believe what is needed now is a shake up in the boardroom, and a leader who can deliver us from the mess we are now in.

After delivering the changes necessary at the club, he has been found wanting in his ability to take us to the “next level”, and in this “results driven business”, the results have not been good enough. Whether as a shareholder or supporter we have allsuffered from his leadership over the last couple of seasons.

Almost all of our recent troubles have resulted from two very poor managerial appointments after WGS left. Regardless of why they left, both appointments were abject failures and contributed to the malaise at the club, and for that he and the board must carry the can. In any other business, two such poor appointments (and I’m forgetting about Gray here!!!) followed by failure in the market and a potential for the turnover to almost halve would lead to dismissals and/or resignations.

The players can certainly take their share of the blame, but in their defence any organisation will struggle to perform at its best against a backdrop of managerial changes, insecurity, changes in tactics, changes in playing staff, different approaches to training & motivation etc. You can blame the short-term mercenaries, but given our position in January, they were all we were ever going to be able to attract.

Nothing personal against the man, and I’m not a knee jerker looking for anyone to blame, I just believe Lowe has taken this club as far as he can, and with hindsight he’s been around too long, and as a result will be the man who has ended our clubs sojourn in the top flight.

Thanks for your efforts Mr Lowe, and whilst I am grateful for all the sterling work you have put into Saints over the years, nothing can outweigh the huge cost to the supporters of presiding over a relegated club (emotionally and financially).

 

To be honest I think that is on the money

[exit2]

Crouch apologised in the Echo for backing Wilde. Why the **** can't you?

 

Not being funny John by why the hell should He?

[um pahars]

I think it's a fair post leaving me wondering why, after Wilde pitched up, you suddenly thought Lowe was the devil and Wilde the answer to everything. It's clear to me that you lost all objectivity when you led the Saints Trust to the fatal decision to back Wilde and to this day, you try and steer every thread towards an anti-Lowe egenda, when that 2005 post shows you were actually grateful for what he had achieved.

 

I think you've lost your objectivity because only recently I was praising Lowe for getting the support of Barclay's and keeping us afloat as a "going concern", only for you to lambast me for such support.

 

I have never believed Lowe was the devil, as that post in 2005 and many others since would show, so to suggest I do makes you come across as rather ignorant and rather rabid.

 

I was happy to judge Lowe by his reults and never once did I venture into the realms of inverted snobbery.

 

If he did well, I praised him and if he did poorly then I criticised him. Things are fluid, times change, circumstances alter, good leaders sometimes become poor leaders and I have never shyed away from trying to be as objective as possible (as that 2005 post clearly shows).

 

In the early days he got much praise from me, but in the latter years of his first tenure that slowly swung towards more criticism as his leadership started to falter.

 

Sadly, his comeback has also received much criticism as I have honestly not found much to eb able to commend him for the way he has run this Club this season (apart from gaining Barclay's bank support and recognising Poortvliet was out of his depth).

 

Crouch apologised in the Echo for backing Wilde. Why the **** can't you?

 

I have said on more than one occasion that Wilde's initiative ultimately failed and that in supporting it I made the wrong call.

 

In fact, when I did apologise regarding Wilde on one occasion, you even replied to me up on here and complemented me on being so open and honest (why don't you go and dig that post up ), so no idea why you're off about it again tonight (particularly when you haven't seen me running around asking for you and others who supported Lowe to be eating humble pie and apologise).

 

Sometimes I have alot of time for you, but on others, such as tonight you come across as a right prize *****.

[Guided Missile]

Not being funny John by why the hell should He?

He was the Chairman of the Saints Trust at the time it supported Wilde and I thought anyone with an ounce of self-respect would admit the mistake, rather than making a pathetic attempt to blame Lowe for Barclays withdrawing it's support, as in this post:

 

Sounds to me that Lowe lost the support and confidence of Barclays going forward and considering events on the pitch affected the business so much, along with having the baggage of Lowe and others around, it's probably not surprising that he didn't manage to get Barclay's on side.

 

For Barclay's to pull the plug in the manner they did (with all the inherent risks of losing their monies) would suggest that they had no faith whatsoever in the management of the Club.

 

Considering they were privy to the inner workings of the Club, then it is probably a very daming (sic) indictment.

 

Like you said, though, he doesn't have to apologise for bending over when Wilde came a-courting, but to be peddling the anti-Lowe cr @p at a time like this, given his record of backing losers is pathetic. Remind me not to employ him in any financial or human resource function, when Craig David and I buy the club....

[SaintRobbie]

http://www.thisislondon.co.uk/standard-business/article-23670913-details/Southampton+FC+fury+over+Barclays+%27death+sentence%27/article.do

 

The attack by Rupert Lowe, a high-profile name in the City and chairman of stockbroker WH Ireland, is understood to have led Barclays to consider taking steps to protect staff and branches in the South Coast city this weekend.

 

LOL - just shows how out of touch he is. Removing Lowe makes Barclays legends.... provided we can find a buyer.

 

AND WE WILL!

[exit2]

Not being funny John by why the hell should He?

 

He was the Chairman of the Saints Trust at the time it supported Wilde and I thought anyone with an ounce of self-respect would admit the mistake, rather than making a pathetic attempt to blame Lowe for Barclays withdrawing it's support, as in this post:...

 

I wish you would get over this Saints trust business. Wilde would have come in what ever, Trust Support or Not. The majoirty of fans at the time felt Wilde was the right move and yes those of those that did now know it wasnt a good move. He convinced a lot of people including a lot of fans, The Corbetts, The lawries of this world , other major shareholders and many others the list goes on. You never know some of those may be the difference to us still having a football club next season

[Johnny Bognor]

Remind me not to employ him in any financial or human resource function, when Craig David and I buy the club....

 

Having seen your latest financials, the only clubs you'll be buying is a set of Callaways (to practice your golf swing )

[Panda]

Barclays killed the previous company I worked for. It was a small company that had a business account for 5 1/2 years but some 16 months ago on a Friday we had a phone call to say they had changed our business manager and the new one will be visiting on the next Monday to discuss our overdraft facility, the overdraft we had previously agreed some three months previous. On the day of the visit the new manager announced that we had until the Friday to pay the overdraft of otherwise the account would be shut down. He didn't want to see the full order books or discuss the overdraft which was being kept in line with the agreement. It was a short visit to basically say pay the overdraft within five days and sod the previous agreement or you as a business will be shut down. Five days later the administrators were called in and 8 people were on the dole. Barclays = w a n k e r s

 

They did exactly the same to me. Encouraged us to borrow money to expand then gave us week to pay it back. That said, in their position as the world now is and toxic debt everywhere I can understand them saying enough is enough. What is done is done ...

[um pahars]

I thought anyone with an ounce of self-respect would admit the mistake,

 

Then perhaps you missed the post above, along with forgetting the post a few months back where you replied to me on here saying "fair play" for admitting supporting Wilde was the wrong call.

 

Funny how you can manage to drag up posts from 4 years ago, yet ignore those posted 4 minutes ago and forget those posted 4 months ago LOL.

 

, given his record of backing losers is pathetic.

 

And yet your record of backing the loser Lowe is somewhat worse given your support of him back in 2005 and again in 2008. If we were to apply your logic to this forum you would have been barred from May 2005;)

 

(cue the reply of "I didn't support Lowe in 2005 and 2008 yawn, yawn, yawn).

[Golac's Cunning Stunts]

You guys are boring (Um Pahars, Guided Missile). Get over your egos and the obvious need you feel to defend your very many posts on the subject. The club is in very real danger. You are both Saints fans. We all should be united in one thing - the survival of the club. Personally, I have no interest in what you guys have said or not said in the past. Get over yourselves. The club is bigger than both of you.

[Window Cleaner]

 

They probably had been doing some research into the actions of the original manager. Probably not meeting his targets or had a few iffy loans down to his

"credit". They have always been hardballers. Always prepared to do what's necessary in the interests of Barclays Bank. Didn't they trade with the old South African and Rhodesian regimes when they were under sanction? Can't remember it's a long time ago.

[John B]

Two interesting quotes on the Original Web Page from neutrals

 

Southampton FC won.t be missed, their so0called fans have a disastrous hooligan record, that the league are rightly ashamed of

 

- keith price, Luton, England

 

Rupert Lowe is right to blame Barclays! Barclays Bank, like all other banks, have been guilty of irresponsible over - lending for years; hence the mess we are all in at present. But again like all banks, they will only provide you with an umbrella when the sun is shining!

 

Although Rupert Lowe is carrying the blame for Saints' decline, the financial missmanagement mainly occured during his two years absense. If Saints avoid a ten point deduction, they will have Rupert lowe to thank!

The fundimental, underlying, problem is caused by the greed of the big Premiership clubs, causing a huge disparity in income between the Premiership and the rest of the league. Saints are by no means the first club affected, neither will they be the last!

 

- Mike Allen, Poole Dorset UK

[Delmary]

You guys are boring (Um Pahars' date=' Guided Missile). Get over your egos and the obvious need you feel to defend your very many posts on the subject. The club is in very real danger. You are both Saints fans. We all should be united in one thing - the survival of the club. Personally, I have no interest in what you guys have said or not said in the past. Get over yourselves. The club is bigger than both of you.[/quote']Silly points scoring is not going to help the club. We need to all unite.

[John B]

They probably had been doing some research into the actions of the original manager. Probably not meeting his targets or had a few iffy loans down to his

"credit". They have always been hardballers. Always prepared to do what's necessary in the interests of Barclays Bank. Didn't they trade with the old South African and Rhodesian regimes when they were under sanction? Can't remember it's a long time ago.

 

Yes they did trade with South Africa

[um pahars]

The club is bigger than both of you.

 

Indeed.

 

Thank's for the clip round the ear (and that's not in a sarcastic manner, but unstead in a fair enough manner, as there are indeed bigger fish to fry out there).

[Alain Perrin]

Maybe if we kept our strikers we could of gone into administration before christmas

 

That's the problem with Lowe - no ****ing ambition!

[Golac's Cunning Stunts]

Good on you

 

Indeed.

 

Thank's for the clip round the ear (and that's not in a sarcastic manner, but unstead in a fair enough manner, as there are indeed bigger fish to fry out there).

[bridge too far]

Yes they did trade with South Africa

 

And, allegedly, they find ways and means to avoid paying taxes.

[cleaver]

so with rupes as a director of wh ireland and all, dont you think he could have called a few favours in? no me neither. he must be a really hated smug bastard in the city!!

[bridge too far]

so with rupes as a director of wh ireland and all, dont you think he could have called a few favours in? no me neither. he must be a really hated smug bastard in the city!!

 

I don't think WH Ireland have a pot to p*ss in either

 

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5050937/WH-Ireland-axes-dividend-as-securities-revenue-dives.html

[John B]

Which is why if you have read any of my other posts you will clearly see that I too think we may well fold, as I think it will be impossible to come up with any funds given the financial crisis we find ourselves in.

 

Unless some benefactors let their hearts rule their head and pump some money in, then I think we're done for, as I can't see any bank providing cash to a fledgling consortium.

 

Which is also why I welcomed Barclay's support of both Crouch and Lowe in recent years, because I was aware that without it we were dead ducks (although you didn't seem as happy when Barclay's gave ther support and berated me for suggesting it was positive news, so I wonder how youre feeling now???).

 

 

 

And if you go back and dig up all of my posts then you will see that I was first concerned about our financial status way back in 2005, but of course then it was just dismissed as anti Lowe rhetoric, despite it being patently obvious that any "established" club who gets relegated will have some serious financial problems.

 

You will also see that I said piecemeal cash injections would not solve our underlying problems and that I was also worried that our cist structure and set up would be very difficult to maintain on revenues of £13m-£15m.

 

And the cash has not just been flying out of the door in the years that Lowe was away.

 

In our first year down under Lowe we lost something like £10m out the door on normal operations (even after banking a £7m parachute payment).

 

We've been holed below the waterline ever since we were relegated and successive regimes have failed to patch up the hole.

 

I fully accept that some have even made the whole worse; Lowe in our first season down when a battle between Redknapp and SCW meant we were never in with a shout of promotion, the Executives in 2007 and their refusal to implement implement Plan B and lastly the all round disaster that is this season.

 

So if you want to solely pin the blame on Wilde for us going under, then I think you have a slightly blinkered view of how we got ourselves into this mess and are rather missing the bigger picture and the part played by Lowe and hs cabal.

 

I dont think it is no one persons fault - players directors coaching staff possibly fans have assisted in the demise but it may not have happened if Wilde had taken over.

 

 

But his idea of needing investment was quite correct I would have thought so we would probably be on the slipery slope even if Wilde had not taken over

[Ponty]

Getting put out of business over one quarter of a percent of an overdraft is pathetic. I do blame Barclays as much as anyone else in this fiasco.

[John B]

Exactly.

 

Yes but they were quite happy lending us money irresponsibly when Burley was in charge.

 

 

That is the point Lowe was making I would suggest.

 

 

I agree with them now the way the club was financed before Administration was unsubstainable as we had no one to sell at a reasonable price

[redder freak]

Barclays is a **** bank. We should never have borrowed money from them in the first place. When I was a student at Southampton uni we boycotted Barclays for sanction busting investing in apartheid South Africa.

 

More recently their UK tax avoidance has been described by an FT commentator as 'absolutely breathtaking, extraordinary. The depth of deceit, connivance and deliberate, artificial avoidance stunned me. The intricacy and artificiality of the scheme deeply was absolutely evident, as was the fact that they knew exactly what they were doing and why: to get money from one point in London to another without paying tax, via about 10 offshore companies. Simple, deliberate outcome, clearly stated, with the exact names of who was doing this, and no other purpose.'

 

Chickens home to roost.

[Wade Garrett]

Is it just me who actually wants to shake Mr Barclays Bank's hand and thank him for getting rid of the clueless pair - Lowe and Wilde.

 

QUOTE]

 

Yes you f*cking idiot... You certainly should be, but on this forum you won't be. IDIOTS the vast majority of you.

 

Wind your neck in little man.

[Rebel]

the Trust actually put it to the vote on whether to back Wilde or Lowe or Crouch

 

its members overwhelmingly voted in Wilde's favour

 

the Trust at the time publicly stated that Wilde and Crouch should work together

 

I don't think anyone thought that Wilde and the people he brought in would spend money that they/we didn't have - and that's what got us in this mess

 

Hone, Wilde and Lowe are all as guilty of this mess

 

do you think Barclays would have called it a day on the Club if Crouch, Lawrie Mac and Pearson were at the helm? - I don't!

[alpine_saint]

Like we've had had a queue waiting to buy our club in the last few years

 

Those people wanted 65p a share

[St_Tel49]

Is it just me who actually wants to shake Mr Barclays Bank's hand and thank him for getting rid of the clueless pair - Lowe and Wilde.

 

I'm not worried about us going out of business. Someone will come in and buy the football club, especially as they won't have to pay Lowe anything, or buy the holding company.

 

I'm thinking about opening a Barclays account at Bitterne to demonstrate my gratitude. The staff might want to watch out for Frank's Cousin and Nineteen Canteen though.

Have you anything other than blind faith to justify that position???

[saintwarwick]

Those people wanted 65p a share

 

Which people were these then :confused:

[LostBoys]

I do not feel strongly against Barclays and do not believe that any Saints fan would abuse a Barclays bank clerk and blame them for their actions. You could argue that they could have done it sooner given the way the club was managed.

 

I do not bank with Barclays personally and as it happens neither do any of my clients but if you bank with Barclays (as opposed to them banking with you) and you feel strongly I suggest you change banks and tell them why.