The On-rushing Recession and Football

[OLLIE KEARNS]

John Lewis (Waitrose) business down 27% this year.

I believe that we only got around £200k plus discounted food and beverages to be sold at the Stadium so we should survive Kyocera were paying far more than that though so the falling revenues bit is still relevant. Albeit that this fall was relegation induced as opposed to a consequence of financial markets.

[Tony Le Mesmer]

SETANTA. Make or Break year for them. What if the 'Break'?

[Norfolk Royal]

Talking of Waitrose.

When I arrived in Ipswich on Saturday I walked out of the station and the first thing I saw was a large group of people standing outside the pub opposite wearing shirts with Waitrose on the front.

Oh no, I thought, they're trying to sell something and will be handing out leaflets, which I don't want. Then I remembered they were our shirts sponsors.

[brendywendy]

John Lewis (Waitrose) business down 27% this year.

I believe that we only got around £200k plus discounted food and beverages to be sold at the Stadium so we should survive Kyocera were paying far more than that though so the falling revenues bit is still relevant. Albeit that this fall was relegation induced as opposed to a consequence of financial markets.

some one on here was saying(in a where has all the money gone) thread that the waitrose money for one year was more than kyocera ever payed us

[OLLIE KEARNS]

John Lewis (Waitrose) business down 27% this year.

I believe that we only got around £200k plus discounted food and beverages to be sold at the Stadium so we should survive Kyocera were paying far more than that though so the falling revenues bit is still relevant. Albeit that this fall was relegation induced as opposed to a consequence of financial markets.

some one on here was saying(in a where has all the money gone) thread that the waitrose money for one year was more than kyocera ever payed us

My understanding is that K were paying approx £600k a year. Contract was up for renewal at the end of last season and Reading approached K at Xmas 07 looking for approx double that amount for 2008/2009. K are still in the process of building a brand in the UK at present, couldn't afford that and so sadly had to step down. Reading went back to them after relegation asking for less money than the old deal but K had already committed available funds to other brand building activities. Waitrose then stepped into the breach at a time when all power was with the sponsor as opposed to the club i.e just before teh season began.

[brendywendy]

that ll learn me for listening to anyold bod on here then!

[Avon Royal]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

[OLLIE KEARNS]

Only know for sure on the K side as have a good friend working there at upper management level. Waitrose amount is a guess based on what Reading were looking for from K when they came back. Have to say it isn't a lot of money even for a Championship side. However, hard to work out what the value is of Stadium food supplied to the club at cost (if that is part of the deal). Given the prices they charge you might be right that it's worth more than K ever paid

[OLLIE KEARNS]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

Chances would have been considered less than zero for Bear Stearns and Lehman Bros as well but they went under. Merrill Lynch is looking for a takeover deal with BOA and AIG has asked the Fed for short term funding support. Absolutely anything is possible right now.

[Negative_Jeff]

Oh shite.
Does that mean even less taxi usage in the City and Canary Woof?

[Avon Royal]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

Chances would have been considered less than zero for Bear Stearns and Lehman Bros as well but they went under. Merrill Lynch is looking for a takeover deal with BOA and AIG has asked the Fed for short term funding support. Absolutely anything is possible right now.

AIG are asking for money to prevent a "credit downgrading". Obviously this is bad news for an insurer, but does not necessarily indicate that it is anywhere near to going under.

[OLLIE KEARNS]

Avon, I agree that they are unlikely to go under. All I'm saying is that nothing would surprise me for the next year or so. Also, borrowing money won't prevent them getting a credit downgrade. They need their own sustainable cahflow to do that. Not borrowed cash from elsewhere.

[Fitzroy]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

Chances would have been considered less than zero for Bear Stearns and Lehman Bros as well but they went under. Merrill Lynch is looking for a takeover deal with BOA and AIG has asked the Fed for short term funding support. Absolutely anything is possible right now.

AIG are asking for money to prevent a "credit downgrading". Obviously this is bad news for an insurer, but does not necessarily indicate that it is anywhere near to going under.

Obviously they haven't at this stage been able to raise the 40BILLION dollars they are casually 'asking' for! The FED have yet to agree terms and they 'asked' for a 'loan' to buy time to get the funding in place. But in the current climate and a 50% stock drop in 1 month and looking like losing another 50% toady $6 US bid/ask and having closed at $12 on Friday.

As indicated by Ollie, at this point in time the largest insurer in the world is vunerable, and anything can happen. Just ask Lehmans and Merrill Lynch.

And as odd as it sounds the US Fed will probably cut rates tomorrow and the U.S. Dollar is still gaining in value? Go figure this financial system and it's manipulated by the FED and the politicians.

[BR2]

My mate John has stopped buying a programme after always buying one over the past 50 years.
Hopefully this will not have too much impact on our often stated "well-run" club.
I blame him personally for there being no big money signings because if he has stopped buying what will everybody else do?
It's time not to be complacent.

[PEARCEY]

We are all dooooomed I say

[Dirk Gently]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

Their shares are down 71% today - and in a business based entirely on confidence the fact that no-one seems to have any confidence in them is extremely ominous. Just ask Lehman Brothers.

[Row V]

I'm so glad my cars are insured with AIG. Not. I might have a like look around just in case.
Must admit though, I'm paying some damn good pricing - my 18 year old drives a '02 Grand Cherokee for $2k / year. Eat your hearts out!

[Wycombe Royal]

AIG are in trouble which could impact Man U

The chances of AIG going under are less than zero.

THe chances are a long way above zero according to the media today.

[Sarah Star]

If this credit crunch affects more than a few clubs, wouldn't the FA change its rules to help them rather than fine them, dock them points etc?

[Dirk Gently]

If this credit crunch affects more than a few clubs, wouldn't the FA change its rules to help them rather than fine them, dock them points etc?

No, because then they'd be penalising the well-run clubs who aren't running everthing on credit and who are able to survive through their own good financial management.