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In organisations I know of this has pwc written all over it. Deloitte, KPMG and co all operate the same way.
They conduct a review and then when the changes are implemented they have the source of truth to refer back to which eliminates criticism.
It sounds stupid but sayers is no fool.
"everything you know is wrong"
Paul Hewson
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(08-12-2021, 11:12 AM)kruddler link Wrote:...and the 'truth' is delivered, not discovered.
....and the 'truth' could not possibly be wrong because it was delivered by 3 wise men.
I've just finished watching an episode of Penn and Teller: Fool Us.
Thats the show where the see a trick and describe how its done without giving away too much info.
This review is all a magic trick.
If Penn was hinting at how its done, he would say its a force with simple misdirection.
I am not fooled.
That noise will disappear moving forward whatever they do.
Hopefully its extend Teague.
Like I said sayers is no fool. He's written a green light to implement change which will remove future criticism.
"everything you know is wrong"
Paul Hewson
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I don't think there has been enough made of the board's decision to push back the AGM until February. Transparent attempt to avoid scrutiny right now knowing they need to let the dust settle on the review. Used Covid as an excuse.
Our board is corrupt. Plain and simple.
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They have five months from 31 October (EOFY) to hold the AGM. When do you think they should hold it? Jan 6th when everyone is on holidays? You're jumping at shadows on this.
Having a quick look at some previous AGM dates:
25/2/2019
24/2/2020
Let's look at a few practicalities:
Accounts: They will take time to finalise and then prepare for audit. Depending on their complexity and any information required by third parties (eg re-valuations) let's say this could take 6 weeks.
Audit: Auditors would have started their prep in Sept/Oct, however, onsite and actual audit could take 3-4 weeks - depending on complexity.
That's 10 Weeks - say 14th December. This process is also assuming that in the period, the Board has signed off on the accounts to recommend to the members.
Annual Report needs writing. This will be in progress while the audit is taking place, however, numbers can't be added until the audit is complete.
Annual Report needs to be finalised and printed. (yes, there is a reduction in how many are printed, but I am sure they would still need to do some, as it has to be available).
Need to send AGM notices with 21 days notice to members with the annual report and AGM agenda.
This takes us to January.
Melbourne is on holidays until school goes back.
Sometime in Feb is a practical time. Look at the timing of listed companies AGM's as a comparative. When was the last AGM held in July for a 30 June year end?
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Big Nic didnt miss anyone
2017-16th
2018-Wooden Spoon
2019-16th
2020-dare to dream? 11th is better than last I suppose
2021-Pi$$ or get off the pot
2022- Real Deal or more of the same? 0.6%
2023- "Raise the Standard" - M. Voss Another year wasted Bar Set
2024-Back to the drawing boardNo excuses, its time
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One of the reasons I don't rate the commentary of past players is they tend to sound like a football specific version of the broader societal trend of old people bagging out the young. When you don't get the desired response, go hard. If you still don't get the desired response, go harder still. It's a very punitive mindset.
Nicholls is justifiably seen as the greatest Blue ever. But that's not a sufficient reason to follow bad, outdated advice IMO.
Lyon got 2 clubs to a GF. That's a fair effort. But the club needs to be clear about why they would pursue him. If they bring him in because they think he will "toughen up the players", in my view that's misguided.
))