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john fenty re elected to board.

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Ipswin
November 25, 2011, 12:35pm
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Quoted from MuddyWaters



If I had the clout that GTST now has, I would have wanted to see some detail as to how the board plan to make the books more balanced and less reliant on JF - surely it's in his interests too?


Really? or could it be that the lack of a plan that might make the club less, and ultimately not at all, reliant on Fenty is exactly what he wants? It might be interpreted that he actually enjoys the control and power he has at BP



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MuddyWaters
November 25, 2011, 12:44pm
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Quoted from Ipswin


Really? or could it be that the lack of a plan that might make the club less, and ultimately not at all, reliant on Fenty is exactly what he wants? It might be interpreted that he actually enjoys the control and power he has at BP



He might enjoy the control and power but surely he would want to minimise his risk or is he prepared to continue funding the club sufficiently until we return to The Football League?
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Quagmire
November 25, 2011, 12:59pm

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Quoted from shareholder


He maintained that control needs to be within the Board Room and i can see this.

The club needs 500k to finish this financial year till May and forecasts a further 500k needed for next season.



If control needs to be in the Boardroom then why doesn't he convert his loans into shares?  By doing so control can then return to the Boardroom and it, in my opinion, shows that he is optimistic about the future of the club and he has faith in his own ability to turn the club around.

By keeping his investment in loans he could be accused of hedging his bets ie if the club goes to the wall he will get something back if his money is in loans, whereas as a shareholder he won't get anything back.

Personally I would prefer him to make share acquisitions rather than additional directors loans.

Finally, is the 500k needed to get through to the end of the season in addition to the 1 million pound funding requirement that was agreed upon, and which Parker paid his 500k funding which caused this latest debacle, or is it 500k that Fenty promised but is yet to put in?
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FishOutOfWater
November 25, 2011, 1:50pm
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Quoted from Ipswin


Really? or could it be that the lack of a plan that might make the club less, and ultimately not at all, reliant on Fenty is exactly what he wants?

It might be interpreted that he actually enjoys the control and power he has at BP


Careful....speculation about JF's intentions could be negatively construed if you don't have any evidence to back up what you've written  

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Informer the real one
November 25, 2011, 5:07pm
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Quoted from Quagmire


Finally, is the 500k needed to get through to the end of the season in addition to the 1 million pound funding requirement that was agreed upon, and which Parker paid his 500k funding which caused this latest debacle, or is it 500k that Fenty promised but is yet to put in?


As i understand it Qauggy Mr Fenty and Mr Parker jointly agreed to fund the club 50/50. 150k of the 500k Parker put in was for last season and 350k was towards this season.

It appears Mr Parker then left the Board and decided he wanted something tangible and publicly bought 500ks worth of shares. Strictly speaking this is a capital acquisition and not sharing in the losses as was agreed.

I think publicly Mr Fenty has mentioned a broken agreement and at the AGM he has said the club needs 500k more  just to complete the season a tab which some think he and he alone should pay.

Not taking sides, but has there not been a material breakdown? Fenty/Parker agreement 350k each for this season or sharing in the losses of GTFC. It clearly looks like losses being the greater.

Break down/reneging, should he shouldn't he. Well I wouldn't!!!!!!!!!!!!!!!!!

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marinerjase
November 25, 2011, 6:29pm
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So is the Trust position now to help Fenty with financing the club? Or is that not the case?


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Ipswin
November 25, 2011, 7:51pm
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Quoted from MuddyWaters

is he prepared to continue funding the club sufficiently until we return to The Football League?


No fuker has that much money, the way he runs things he will be

a) bankrupt or
b) dead

long before that happens (if it ever does)



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Ipswin
November 25, 2011, 7:54pm
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Quoted from FishOutOfWater


Careful....speculation about JF's intentions could be negatively construed if you don't have any evidence to back up what you've written  



No problem - conversely it could also be interpreted that he actually hates the control and power he has at BP (I doubt it tho' somehow don't you - I reckon I was closer first time)



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Meza
November 25, 2011, 11:14pm

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Doesn't it say in the GET that GTFC will not be part time next year, and although he is disappointed with our current position this is the first time we have had a manager(s) that ate striving to bring success to this club which I'm sure we can all agree is a good thing.

Regarding the board I'm sure the trust had no option up allow JF back onto the board there is no-one else.  Are the trust able to sell the shares?  Forgive me but this is a grey area for me.


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DavidB
November 26, 2011, 1:13am
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Quoted from Meza
Doesn't it say in the GET that GTFC will not be part time next year, and although he is disappointed with our current position this is the first time we have had a manager(s) that ate striving to bring success to this club which I'm sure we can all agree is a good thing.


?!
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