News GFG on board as joint major sponsor

Apr 13, 2006
32,868
77,027
The Bitter End
AFL Club
Port Adelaide
Rucci in that well trodden lecture about Port supporters giving up their memberships confirms what everybody knows. The club/supporters and Hinkley are just treading water and wasting a further 12 months due to this costly contract that the club can't get out of.

The 150th year charade has come at the worst possible time. I'd take a bottom 2 finish and renew my membership if we were just playing the kids. s**t for brains won't do that though and the fact it's a "celebration year" means mid table mediocrity will be the aspiration.
 
Aug 30, 2004
36,051
64,736
Kaurna Land
AFL Club
Port Adelaide
Other Teams
Vikings, Canadiens, Sharks
He started off as a commodities trader, whilst he was at Cambridge using their telex and dodging VAT.
lol, that is not how VAT on financial transactions works. It doesn't matter who the telex machine on which the telegraphic transfer instruction is sent belongs to.
 
lol, that is not how VAT on financial transactions works. It doesn't matter who the telex machine on which the telegraphic transfer instruction is sent belongs to.
Read the story a few pages back. He was using Cambridge Uni's machines and dodging VAT because they had an exemption as educational institutions. They warned him a couple of times and threatened to throw him out if he didn't stop. What ever the technicalities were, he was taking advantage of them.
 
Aug 30, 2004
36,051
64,736
Kaurna Land
AFL Club
Port Adelaide
Other Teams
Vikings, Canadiens, Sharks
Read the story a few pages back. He was using Cambridge Uni's machines and dodging VAT because they had an exemption as educational institutions. They warned him a couple of times and threatened to throw him out if he didn't stop. What ever the technicalities were, he was taking advantage of them.
I replied to a post some time ago when this urban myth was previously posted. I don't need to read the urban myth again.
 
Mar 1, 2014
9,037
17,180
AFL Club
Port Adelaide
Rucci in that well trodden lecture about Port supporters giving up their memberships confirms what everybody knows. The club/supporters and Hinkley are just treading water and wasting a further 12 months due to this costly contract that the club can't get out of.

The 150th year charade has come at the worst possible time. I'd take a bottom 2 finish and renew my membership if we were just playing the kids. s**t for brains won't do that though and the fact it's a "celebration year" means mid table mediocrity will be the aspiration.

Agreed, Rucci was happy to have a crack at members protesting by not renewing, but gave absolutely no alternative as to what else they could do to make themselves heard.

Everyone is entitled to do whatever they believe is right for them, but in my opinion continuing to supply funds to the club so the d*ckheads in charge can just p*ss it up against the wall ad infinitum, won't work either.
 
lol, that is not how VAT on financial transactions works. It doesn't matter who the telex machine on which the telegraphic transfer instruction is sent belongs to.
That's not what he did. He used the address in which the telex machine was housed, in his VAT claim, and as the address was attached to Cambridge's charitable VAT status, he didn't have to pay VAT on his sale.
 
Mar 1, 2014
13,887
17,507
People's Republic of Onkaparinga
AFL Club
Port Adelaide
Other Teams
Cronulla Sutherland Sharks
Thanks to OneGreatClub for posting this just now on the Let’s Talk Ports Part 2 thread:

Rucci on SEN this am...

“The bonds between the three Ks are far weaker than they were in 2013”

“Koch not as supportive of KT as he should be. Threw him under bus regarding failed sponsorship”

“They have put All the GFG money into this financial year to make finances look good”

“There are some people who are eyeing KT’s chair”


If this is true, by ‘all the GFG money’ I assume Rucci is referring to the entire three-year’s worth.

No mention is made of any revenue actually being paid yet by GFG, or will be paid on or before 31 October 2019.

Discussion?

A link to Rucci’s ten minutes worth would be a good start.

What I find interesting and surprising is that persons unknown would be 'eyeing KT's chair'. I would not have thought the job would be high on any smooth operator's list. Maybe it is not the chair they are eyeing but the person sitting in it?
 
What I find interesting and surprising is that persons unknown would be 'eyeing KT's chair'. I would not have thought the job would be high on any smooth operator's list. Maybe it is not the chair they are eyeing but the person sitting in it?
Eyeing KT's chair is nicer than saying KT is in the gun. Rooch like niceties.
 
Eyeing KT's chair is nicer than saying KT is in the gun. Rooch like niceties.
At present the only ones eyeing KT’s chair are the removalists and/or valuers for deceased-estate auctions.
 
Aug 30, 2004
36,051
64,736
Kaurna Land
AFL Club
Port Adelaide
Other Teams
Vikings, Canadiens, Sharks
That's not what he did. He used the address in which the telex machine was housed, in his VAT claim, and as the address was attached to Cambridge's charitable VAT status, he didn't have to pay VAT on his sale.
"The situation offered a tax loophole: because it was an academic institution, transactions conducted on the college telex machine were exempted from the British equivalent of GST"

A slightly different version of the urban myth but nonsense all the same. Unlike businesses neither telex machines nor addresses can be registered for VAT or gain a VAT exemption. Just because Cambridge University had a VAT exemption doesn't mean that any business operating from the same address is automatically VAT exempt. The people at HMRC mightn't be the brightest but they're not completely stupid.
 
Oct 1, 2014
10,573
28,204
NeverNevers
AFL Club
Port Adelaide
I can tell you that things take time. There has been significant changes at the steel plant. Lots of money saved and new improved strategies. There has also been some upgrades made to the pellet plant to reduce emissions and modernise it amongst other improvements. Making things more efficient therefore saving money etc.
 
Rumour has it that during the non-stop 19-hour flight from New York to Sydney with but 40 passengers, Chairman Moi did indeed open his mouth to start a partnership pitch to Alan Joyce.

Before he could get a word out, Joyce pointed to the headlines in the South China Morning Post:

Hong Kong’s ongoing protests leave Australian airline Qantas with a US$17 million profits slump

https://www.scmp.com/news/hong-kong.../hong-kongs-ongoing-protests-leave-australian

Meanwhile last week, Cathay Pacific, the largest airline operator at Hong Kong International Airport (HKIA), unveiled its second straight decline in passenger numbers – down 7.1 per cent in September, following an 11.3 per cent drop in August.

Both months saw inbound travel collapse by 38 per cent.

Shut up, David!” quoth Joyce ... employing the phrase that since September 2017 has become popular during negotiations with the PAFC chairman.
 

Rexie J

Premiership Player
Apr 22, 2012
3,737
5,101
YP
AFL Club
Port Adelaide
Rumour has it that during the non-stop 19-hour flight from New York to Sydney with but 40 passengers, Chairman Moi did indeed open his mouth to start a partnership pitch to Alan Joyce.

Before he could get a word out, Joyce pointed to the headlines in the South China Morning Post:

Hong Kong’s ongoing protests leave Australian airline Qantas with a US$17 million profits slump

https://www.scmp.com/news/hong-kong.../hong-kongs-ongoing-protests-leave-australian

Meanwhile last week, Cathay Pacific, the largest airline operator at Hong Kong International Airport (HKIA), unveiled its second straight decline in passenger numbers – down 7.1 per cent in September, following an 11.3 per cent drop in August.

Both months saw inbound travel collapse by 38 per cent.

Shut up, David!” quoth Joyce ... employing the phrase that since September 2017 has become popular during negotiations with the PAFC chairman.


Perhaps a digression too far but a very good friend of ours in HK is Manager of the family travel agency business.
 
Back