HBG, Independent Directors Sacked

[cochise]

In all honesty- as I've been saying all along- I don't understand the way the whole HBG thing 'works'.

However, they are nearly always portrayed as the 90% owners- be it through media or whatever.

Instead of the word 'owners', should I just refer to them as majority share holders?

Whatever terminology works- they clearly have the power to remove board members & CEO's. Whatever title THAT is- that is what HBG are.

So who are this group that are owners/ major shareholders of our club.

Is it the 20 debenture holders that paid $100 to run roughshod over our club?

Why should $100 give you the right to control a club I put $1000s into each year?

 

[The Chad]

So who are this group that are owners/ major shareholders of our club.

Is it the 20 debenture holders that paid $100 to run roughshod over our club?

Why should $100 give you the right to control a club I put $1000s into each year?

At this point in proceedings, yes it is those guys.

Your point about why they should have control is akin to why should a mining magnate make billions while a miner makes thousands & does all the work?

Timing. Being in the right place at the right time? That put them in the position to be where they are now. I don't know.

Why ARE they in charge?

It seems the NRL, PVL, Balmain even are ok with it.

I don't know. I'd like to know.

If you know, I would like to know.

 

[GCfan]

It's not a fear of losing HBG, it's a matter of HBG holding on to what is rightly theirs and not let it be stolen by someone that has done nothing positive to deserve it.

No worries, I’ll give em a hundred buck loan, surely I’ve then earned it? 😂

 

[weststigers]

Been trying to think of a partial solution to the governance of the Wests Tigers in the instance HBG do not relinquish its license or have it revoked?

Given media reports of the last few days citing PVL, it is probably long odds of the NRL appointing an administrator now or HBG selling/relinquishing its license.

So really we need to fight for a constitution & board structure that, i) protects & progresses the interests of the Wests Tigers first & foremost and also ii) promotes the interests of the license holder/s (HBG,WM,BT).

In terms of Board structure, this could be a solution that achieves the above ...

- 3 x independents (1 as appointed chairman, must meet skills matrix from Crawford/Barnier report)
- 2 x HBG representatives (proviso written in constitution is both must be the member-elected directors at HBG)
- 1 x WM rep
- 1 x BT rep
* There has to be a minimum of 2 women on the board I believe to meet NRL standards.

The important thing here is that the HBG reps are the member-elected non-debenture holders on its board. So in that way, there is a democratic process to fill this position on our WT board.

For a benefit of HBG, it gives Wests Tigers members an incentive to become members of Wests Ashfield and those members then have voting rights in these elections for the 2 positions (can vote once a member for 3 years).

Currently there are NO member-elected directors on the HBG board as the election was cancelled this year due to the supreme court action. Click this link to read. And this link for more info.

Furthermore, there can still be lobbying of Liquor & Gaming to change the governance of HBG but the above Board structure could be a solution for all parties.

This is actually a really good solution and easily implemented. I'd support that.

 

[cochise]

At this point in proceedings, yes it is those guys.

Your point about why they should have control is akin to why should a mining magnate make billions while a miner makes thousands & does all the work?

Timing. Being in the right place at the right time? That put them in the position to be where they are now. I don't know.

Why ARE they in charge?

It seems the NRL, PVL, Balmain even are ok with it.

I don't know. I'd like to know.

If you know, I would like to know.

Sorry paying $100 does not give yiu the right to ruin my club. That is why we are taking action.

 

[The Chad]

Sorry paying $100 does not give yiu the right to ruin my club. That is why we are taking action.

How are they in the position they are now in?

 

[cochise]

How are they in the position they are now in?

Because their friends said they could become a debenture holder.

 

[weststigers]

At this point in proceedings, yes it is those guys.

Your point about why they should have control is akin to why should a mining magnate make billions while a miner makes thousands & does all the work?

Timing. Being in the right place at the right time? That put them in the position to be where they are now. I don't know.

Why ARE they in charge?

It seems the NRL, PVL, Balmain even are ok with it.

I don't know. I'd like to know.

If you know, I would like to know.

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".

 

[weststigers]

At this point in proceedings, yes it is those guys.

Your point about why they should have control is akin to why should a mining magnate make billions while a miner makes thousands & does all the work?

Timing. Being in the right place at the right time? That put them in the position to be where they are now. I don't know.

Why ARE they in charge?

It seems the NRL, PVL, Balmain even are ok with it.

I don't know. I'd like to know.

If you know, I would like to know.

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".

 

[The Chad]

Because their friends said they could become a debenture holder.

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.

 

[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.