HBG, Independent Directors Sacked

[weststigers]

Right. I kind of get that.

But how are HBG able to sack board members & CEO's in this set up?

I call them 'owners' & get shot down by a bunch of you.

What are they? How do they hold this power? It's not lucky chance.

It's like a club. The whole system is outlined on their website.

 

[Merlot]

Asked computer ,what is a debenture system
This stood out - debentures are recorded as a liability on the company's balance sheet
As i see it , not just theirs but mine also
hbgOUT

 

[The Chad]

Government ownership is a better analogy for a licensed club. The debenture holders have no financial stake - they simply have a protection racket on power.

Mind you, this racket also gives them access to paid board positions to line theor own pockets from the money of the members they "serve".

Debentures are monies lent to a business (HBG) that doesn't give the debenture holder a share, but makes them a creditor, which gives them a fixed interest repayment.

So they are a bank of sorts.

How are they in control of Wests Tigers?

 

[cochise]

Right. I kind of get that.

But how are HBG able to sack board members & CEO's in this set up?

I call them 'owners' & get shot down by a bunch of you.

What are they? How do they hold this power? It's not lucky chance.

It is because they know the right people at their local club, nothing more.

How can we build a successful club when a recruitment pool for directors is a group of 20 people.

It's literally why we continue to fail.

 

[weststigers]

Debentures are monies lent to a business (HBG) that doesn't give the debenture holder a share, but makes them a creditor, which gives them a fixed interest repayment.

So they are a bank of sorts.

How are they in control of Wests Tigers?

We've all been trying to work that out

 

[weststigers]

Debentures are monies lent to a business (HBG) that doesn't give the debenture holder a share, but makes them a creditor, which gives them a fixed interest repayment.

So they are a bank of sorts.

How are they in control of Wests Tigers?

Also the loan part doesn't account for the members as well as being a non-profit. It is literally unfettered control.

 

[cochise]

Debentures are monies lent to a business (HBG) that doesn't give the debenture holder a share, but makes them a creditor, which gives them a fixed interest repayment.

So they are a bank of sorts.

How are they in control of Wests Tigers?

Yes they loaned $100 to the HBG, they actually earn interest on this.

HBG has a 7 seat board, those 20 debenture holders get 5 seats on the HBG board. The general membership gets 2.

To make things worse, the last 2 general membership voted directors were sacked by the rest of the board.

This is not how I want my club ran.

 

[Merlot]

Lmao , 2 of the 3 i have on ignore ,are on this page , yet some try to constantly make them see reason
their not capable and its boring as bat guano

 

[diedpretty]

Did that actually happen? PVL threatened to put them under administration?

i didn't see that reported anywhere - just another figment of that posters imagination i would think. I do believe he reminded them of who controls the licence and the ramifications if you rock the boat too much.

 

[dacoots_tiger]

Its funny, when i first saw HBGout on the posts, my mind instantly saw it as HBGout, which is quite fitting. Gout is described as a painful form of inflammatory arthritis. HBG perfectly summarised.

 

[Muffstar]

Has anyone heard anymore about Laundy wanting to buy the club ?

 

[diedpretty]

He did it because he wanted a single reserve grade side and they refused, so he stacked one of the sides. The "other side" would always have been justified to complain.

But Sheens was vindicated, we won the comp.

are you sure about that

 

[Merlot]

are you sure about that

about what

 

[diedpretty]

Think you'll find this poster is referring to a suggestion the club be named "Tigers" not Wests Tigers.

Which would diminish the Magpies brand.

And it was suggested on here. You just overlooked it.

like most things he overlooks on here

 

[Canberratiger]

Thank you bzn.. you have just reinforced everything the bulk of us have been thinking..

You are projecting your own insecurities into a conspiracy theory that theres a plot to overthrow the magpies.

You're concerned that the JV becomes the priority and not the Wests magpies (which is the way under HBG).

Not all of us are like the HBG directors. We just want what's best for the club as a joint venture.. not as Wests and not as Balmain.. the sooner you realise the bulk of us aren't dinosaurs with agendas, the sooner you will realise that the intent from all of this is good.

I've said it myself, id prefer Wests McArthur take ownership.. give them 90%.. most of us would probably agree it's the right play... So how is that a secret sneaky agenda? I look forward to your response specifically to this part of my post - because someone with a sneaky agenda trying to spin it, wouldn't then advocate for Wests McArthur, would they?

But thanks for responding.. I suggest you consider taking a few steps back and realise the bulk of us come from a good place, no one is trying to over throw Wests... Just HBG...

The Magpie Dinosaur is scared of the Balmain Boogeyman

 

[diedpretty]

about what

About whether Balmain won the reserve grade comp in 2012. Jirsky seems pretty certain they did - i believe they lost to Newtown in the GF. That wasn't the point anyway - the point was how Sheens annihilated Wests Magpies to stack Balmain and how a lot of magpie supporters haven't forgiven him or Wests Tigers for that.

 

[The Chad]

Yes they loaned $100 to the HBG, they actually earn interest on this.

HBG has a 7 seat board, those 20 debenture holders get 5 seats on the HBG board. The general membership gets 2.

To make things worse, the last 2 general membership voted directors were sacked by the rest of the board.

This is not how I want my club ran.

Ok- I get that part.

Then HBG has control over Wests Magpies in a similar board set-up.

And Wests Magpies owns 90% of the share of Wests Tigers.

That's basically right?

 

[diedpretty]

When you refer to the Wests magpies brand, what are you referring to?

The club's name is "Wests Tigers". Wests got the location part of the brand. Tigers got the mascot.

So "Wests" is the first word in the name of the club and I haven't seen anyone suggest we get rid of that. Have I missed something?

The reality is, Balmain is dead as is the Magpie. They were the sacrifices made when forming the joint venture

So I guess back to the original question, what exactly are you suggesting people are trying to kill off form Wests Magpies, other than the self serving owners - who never put the football club first? Furthermore, who is encouraging it?

Thats not true. If you go back over this whole ridiculous rantathon there were quite a number of people calling for the tigers to hook up with any number of other clubs and drop the Wests.

 

[Merlot]

About whether Balmain won the reserve grade comp in 2012. Jirsky seems pretty certain they did - i believe they lost to Newtown in the GF. That wasn't the point anyway - the point was how Sheens annihilated Wests Magpies to stack Balmain and how a lot of magpie supporters haven't forgiven him or Wests Tigers for that.

i never forgave him either until this morning ?Forgot who said it (sorry poster}
Sheens wanted a WTs reserve grade team,got denied .so stacked Balmain .
you can make your own judgments about that

 

[diedpretty]

i never forgave him either until this morning ?Forgot who said it (sorry poster}
Sheens wanted a WTs reserve grade team,got denied .so stacked Balmain .
you can make your own judgments about that

I understand why he did it - originally it was put forward as a reason why a lot of ex magpie supporters felt that Wests were being disrespected and believe not a lot has changed since. The funny thing is Balmain were defunct the next year and WT was the reserve grade side. Lasted 1 year.