Bob Reilly

[The Wheel]

My opinion is that the position needs to be changed into a paid position rather than a time volunteered one.

The reason is you will then get someone who is acting in the best interest of their job, position and the business.

Not saying the people who volunteer would not be suitable, the problem is, it is held then as a position of privilege and in my experience, that lends itself to incorrect decisions being made. I won't go into that in too much depth because I don't want to offend anyone. It isn't their fault and it is human nature that such a position leads to a certain natural and human response and ultimately fuzzy logic being applied to business decisions.

That is the first change that needs to be made, a paid and voted on position.

I also think that the votes are not equally shared.

In reality we need to combine the boards, or break away from each other. There needs to be a single board, and stakeholder, making decisions for the one business, rather than 3 entities making decisions that suit their agenda for the one business.

We are currently in a position where we have 3 parties that don't and likely will not see eye to eye, this is a failing model.

For better or for worse and for no fault of their own, we are currently in danger of loving the club to death

Here, here

 

[Dan]

I could probably summaraise that by just saying.

It should be a paid position, otherwise as a volunteer position it is too easy for the volunteer to become too personally invested, whether they notice, or intend to.

 

[Cameron]

Firstly i don’t think there is any need for the personal stuff that has already surfaced in this thread.

I think the current structure is flawed because

Penn Family: Shareholder that contribute to financial Shortfalls (2 votes)
Quantum: Shareholder that contribute to financial shortfalls (2 Votes)
Football Club: who is in no position to contribute financially but does however hold the critical preference share dictating, name, colours and home ground. (2 Votes)
Leagues Club: that contribute to financial shortfalls (1 Votes)

The first thing I’d like to see changed is the number of votes the Leagues club gets to 2 and the Football club reduced to one.

The next thing is a tricky one and something that despite the person being someone i like and have a lot of time for just doesn’t seem kosher.

Both majority shareholders have 2 votes on the board while Bob who effectively has 3 votes because he is the chairman of both the leagues and footy club.
This isn’t an attack on Bob he’s a good bloke and has done some great things however i wouldn't care if it was Steve Menzies no volunteer should have more votes than a majority shareholder.

The other thing its opens is when the FC and LC vote with either a Shareholder there is a perception that there are factions amongst the board.

What is the leagues club currently contributing to the football club?

Our leagues club has struggled financially for years and shouldn't have any more votes unless they provide greater funding to the football club.

tooks when the NRL Club MWSE ltd makes an operational loss the 3 owners Penn Health, Quatum and Manly Leagues have to make up that shortfall. When they do, they actually recieve more shares in the business.

I could be wrong but 18 months ago Manly Leagues decided to cut back their annual grant slightly but instead purchasing shares in the NRL side.

That was the original idea of privatisation that the football club could over time could buy the club back but in hindsight that was never going to happen.

To breifly sum up your question if the NRL club loses 300 000 a year Manly Leagues will kick in 100 000 and get that in shares.

 

[tookey]

Firstly i don’t think there is any need for the personal stuff that has already surfaced in this thread.

I think the current structure is flawed because

Penn Family: Shareholder that contribute to financial Shortfalls (2 votes)
Quantum: Shareholder that contribute to financial shortfalls (2 Votes)
Football Club: who is in no position to contribute financially but does however hold the critical preference share dictating, name, colours and home ground. (2 Votes)
Leagues Club: that contribute to financial shortfalls (1 Votes)

The first thing I’d like to see changed is the number of votes the Leagues club gets to 2 and the Football club reduced to one.

The next thing is a tricky one and something that despite the person being someone i like and have a lot of time for just doesn’t seem kosher.

Both majority shareholders have 2 votes on the board while Bob who effectively has 3 votes because he is the chairman of both the leagues and footy club.
This isn’t an attack on Bob he’s a good bloke and has done some great things however i wouldn't care if it was Steve Menzies no volunteer should have more votes than a majority shareholder.

The other thing its opens is when the FC and LC vote with either a Shareholder there is a perception that there are factions amongst the board.

What is the leagues club currently contributing to the football club?

Our leagues club has struggled financially for years and shouldn't have any more votes unless they provide greater funding to the football club.

tooks when the NRL Club MWSE ltd makes an operational loss the 3 owners Penn Health, Quatum and Manly Leagues have to make up that shortfall. When they do, they actually recieve more shares in the business.

I could be wrong but 18 months ago Manly Leagues decided to cut back their annual grant slightly but instead purchasing shares in the NRL side.

That was the original idea of privatisation that the football club could over time could buy the club back but in hindsight that was never going to happen.

To breifly sum up your question if the NRL club loses 300 000 a year Manly Leagues will kick in 100 000 and get that in shares.

Thanks cambo.

 

[The Wheel]

Simple Question - has the Leagues Club bought any shares in 2011?

 

[Cameron]

Simple Question - has the Leagues Club bought any shares in 2011?

Vidmar

would you be able to tell us how many shares the leagues club has purchased in the last few years. Or direct us to the reports if they are online

 

[Matabele]

He's a great guy. Trust me.