Matabele
Journey Man
lsz said:So if the club has been under performing for a number of years then how has Bob stayed in the job unchallenged?
You would think performance would be a KPI?
Only for successful coaches and CEOs mate.
lsz said:So if the club has been under performing for a number of years then how has Bob stayed in the job unchallenged?
You would think performance would be a KPI?
Matabele said:lsz said:So if the club has been under performing for a number of years then how has Bob stayed in the job unchallenged?
You would think performance would be a KPI?
Only for successful coaches and CEOs mate.
vidmar said:Matabele said:lsz said:So if the club has been under performing for a number of years then how has Bob stayed in the job unchallenged?
You would think performance would be a KPI?
Only for successful coaches and CEOs mate.
You did of course google the annual reports for the last couple of years before commenting on KPI's relating to performance at the leagues club Mata?
Would hate to think your extended absence from the site was interrupted purely and simply to stick the boot in to a respected club official from the safety of a key board?
vidmar said:Garts, read the annual reports over the last few years to understand the environment these guys have been working in.
I'm a simple soul - if someone who I know is doing good is slagged off by those who have no idea I tend to come out and say something?
I'd hope you know people that would do that for you?
Garts said:vidmar said:Garts, read the annual reports over the last few years to understand the environment these guys have been working in.
I'm a simple soul - if someone who I know is doing good is slagged off by those who have no idea I tend to come out and say something?
I'd hope you know people that would do that for you?
The annual reports do not show if someone is doing a good job or not. All they currently show is poor financials results with a poor cash position. Is that Bobs fault? No. As you said the environment is tough. But at the end of the day the club needs to be financially viable.
I have no doubt you would know if someone is doing a good job if they are on the leagues club board. Considering you are on that board and obviously involved and privy to the goings on. But as for the leagues club, what is your involvement?
Good on you for sticking up for a mate. It is a loyal trait to have. I have mates who would stick up for me no matter if I was doing a good job or not. That is what mates do.
Ryan said:Actually most of the recurring income the club sources has improved. Regression in memberships, Poker Machine (especially) income, and what looks to be one off sale of assets is what is hurting the club.
But Poker Machine income is obviously having the biggest adverse affect.
How do clubs acquire (in Manly Leagues case) circa $1,002,000 in lost poker machine revenue in 12 months? It would be a really tough gig.
Financing Costs have also increased substantially. Without knowing the workings of the business, I'd put this down to the club borrowing an additional $2,100,000, which netted a gain of circa $3,000,000 in property, plant and equipment.
If you look at page 11, it shows a lot of the long term debt being charged at 8.5%. In my way of thinking, that's pretty darned high. Especially when the cash rate has been around 5.3%. What kind of margin are these people paying? With liquidity costs going up for The Banks, that's only going to get worse as well.
Renegotiation here may improve funds cash drivers.
Another thing I noted, is that memberships are drastically down ($20k odd). How many members does that equate to? That, on top of a reduction in the pokies income, should have meant less staff was required, but staff numbers remained consistent.
That's another suggestion to improve performance (as hard as that may sound to families, I know).
Also guys, depreciation is a non cash item, so before people cast stones out as to how bad the club is doing, add that back, and the clubs actually making a profit after grants and donations etc.
Honestly, I think the clubs strategies and objectives are a little naive (almost as though they could be type cast for any club). I have listed 2 tangible ways profits could improve (sometimes in a business, streamlining isn't what people want to hear).
In Summary: Less cash (fixable), Good Net Asset position (Equity), profits after intangible add backs.
Not as bad as it appears IN THIS ECONOMY.
tookey said:Spot on Ryan.
Depreciation is a non cash expense and lenders used to add it back as a non cash expense to net profit when calcuating a clients ability to service a loan.
Rex the only organisation I know of that would purchase a peice of equipment for $1m that generates $10k profit a year and is obsolete in 3 years if the current federal government.
Does the leagues club have a box at brookie? If so then I would suggest that this might make up part of the $57k in the directors costs.
DSM5 said:OK. Suggestions by Ryan are that the club renegotiate bank loans and sack some staff. Suggestions by Matas are to bag the outgoing President. Any suggestions on how to grow the business? I'm actually amazed the club made a profit given the horrid site, renovations and the current abysmal trading situation of most businesses. Leagues clubs seem like dinosaurs in this age of instant gratification, home entertainment and breath testing. Maybe they can squeeze their suppliers, like Woolies and Coles. Redevelopment of the site/s with the club taking a couple of stories. Seems to work at Redfern.
DSM5 said:OK. Suggestions by Ryan are that the club renegotiate bank loans and sack some staff. Suggestions by Matas are to bag the outgoing President. Any suggestions on how to grow the business? I'm actually amazed the club made a profit given the horrid site, renovations and the current abysmal trading situation of most businesses. Leagues clubs seem like dinosaurs in this age of instant gratification, home entertainment and breath testing. Maybe they can squeeze their suppliers, like Woolies and Coles. Redevelopment of the site/s with the club taking a couple of stories. Seems to work at Redfern.
Team | P | W | L | PD | Pts |
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1 | 1 | 0 | 38 | 4 |
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2 | 2 | 0 | 16 | 4 |
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1 | 1 | 0 | 36 | 2 |
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1 | 1 | 0 | 22 | 2 |
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2 | 1 | 1 | 10 | 2 |
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1 | 1 | 0 | 8 | 2 |
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1 | 1 | 0 | 2 | 2 |
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0 | 0 | 0 | 0 | 2 |
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2 | 1 | 1 | 0 | 2 |
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2 | 1 | 1 | -2 | 2 |
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2 | 1 | 1 | -30 | 2 |
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1 | 0 | 1 | -2 | 0 |
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1 | 0 | 1 | -6 | 0 |
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1 | 0 | 1 | -8 | 0 |
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2 | 0 | 2 | -16 | 0 |
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1 | 0 | 1 | -30 | 0 |
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1 | 0 | 1 | -38 | 0 |