Roast Sack Koch - Chairman of The Redeem Team

[Lockhart Road]

Has trouble running a small business...

'Worst year that we've ever had': David Koch on family business struggles​

TV legend and self-confessed "finance nerd" David Koch has described how he had to step in personally to save his family business from going to the wall.

Koch said he and his wife Libby had to access their superannuation fund late last year or there was every possibility their business would close.

Speaking on the podcast Neil Mitchell Asks Why, Koch said he would have been financially better off over his life to concentrate on his media work and not run the small business.

"I'm like every small business owner," he said.

"2023 for me and my family business was the worst year that we've ever had.

"At the end of October, I had to put a lot of money into the business to keep it going.

"The end of 2023, I was thinking, 'God, we can't go for another year like this.'

"I was really concerned how we would get through the summer.

"Thankfully we had the best December and January we've had in the 20 years of the business, and it saved the business.

"It is really sobering. I often think to myself, 'Why do I invest in these small businesses? I should have just invested in property.'

"But I love small business. I love being involved in it. It's one of the great joys of my life."

When asked if he came close to going to the wall, Koch replied: "Yeah, absolutely."

"I had to put money into it. You can withdraw within a limit at my age out of the superfund, which I put in it.

"It kept the team together and kept us going."

FROM

This explains so much about, and confirms, the impediment that PAFC have been faced with during Koch’s tenure.

Koch has admitted here that he’s not up to the task of running the Port Adelaide Football Club.

PAFC is not a small business, is no place for a small-business minded chairman who admits to loving a business but only if it’s small … who is afraid to focus on and take the hard and ‘nasty’ decisions let alone enact them.

It exposes the weakness at the very top that is the root cause of Hinkley and his family still being with us, tells us why Koch has behaved in such an unprofessional non-football-club fashion without realising it.

Rise up Big Bob. You’re needed. There’s a chair in the corner of the board room waiting for you - the chair with your name on it.

 

[Visenfest]

Has trouble running a small business...

'Worst year that we've ever had': David Koch on family business struggles​

TV legend and self-confessed "finance nerd" David Koch has described how he had to step in personally to save his family business from going to the wall.

Koch said he and his wife Libby had to access their superannuation fund late last year or there was every possibility their business would close.

Speaking on the podcast Neil Mitchell Asks Why, Koch said he would have been financially better off over his life to concentrate on his media work and not run the small business.

"I'm like every small business owner," he said.

"2023 for me and my family business was the worst year that we've ever had.

"At the end of October, I had to put a lot of money into the business to keep it going.

"The end of 2023, I was thinking, 'God, we can't go for another year like this.'

"I was really concerned how we would get through the summer.

"Thankfully we had the best December and January we've had in the 20 years of the business, and it saved the business.

"It is really sobering. I often think to myself, 'Why do I invest in these small businesses? I should have just invested in property.'

"But I love small business. I love being involved in it. It's one of the great joys of my life."

When asked if he came close to going to the wall, Koch replied: "Yeah, absolutely."

"I had to put money into it. You can withdraw within a limit at my age out of the superfund, which I put in it.

"It kept the team together and kept us going."

FROM

He has a long way to go to be as good as McGuire Media.

Can he also dip into his super to help with the problem still sitting in the senior coach’s chair at Alberton?

 

[Lockhart Road]

He has a long way to go to be as good as McGuire Media.

Can he also dip into his super to help with the problem still sitting in the senior coach’s chair at Alberton?

Koch doesn’t recognise it as a problem.

He’s incapable of recognising it as a problem.

 

[MrMeaner]

...

"But I love small business. I love being involved in it. It's one of the great joys of my life."

...

Don't mind me, I'll just be here smug in my criticism of David having a small business mindset. The problem is he has infected Port with that mindset.

Edit: I have just seen Lockhart Road got in before me with this point.

 

[sobrave]

How bad is kockie with money that the has to dip into his super rather than draw on what should be a substantial savings fund given his and his wife's careers..

This is "financial genius business guru" kockie btw

 

[TeeKray]

How bad is kockie with money that the has to dip into his super rather than draw on what should be a substantial savings fund given his and his wife's careers..

This is "financial genius business guru" kockie btw

He's just trying to sound like the everyman. He'd be loaded.

 

[RussellEbertHandball]

The headline in that Neil Mitchell podcast. Says it all really.

Why media is a 'bulls***ing job': With David Koch

 

[Hinkleys Donuts]

Hire an employment consultant and advise him how Koch can sack Hinkley.

 

[GoPorts]

Hire an employment consultant and advise him how Koch can sack Hinkley.

Hire a boxing coach to advise him how to give himself an uppercut

 

[JimmyBC]

Hire a hitman

 

[simba_]

they build statue's for greats - this guy deserves a gutter. legends get stands named after them - this guy should get the Koch urinal. he's the September 11 of Club Chairman's. what he's done will be spoken about for a century.

 

[Capital Power]

The more logical approach would have been for him to step down from all extraneous roles and focus solely on his business.

Seriously though, this is a guy who's earned millions a year for decades. This article is either a complete beat up or an indictment on his financial management skills.

 

[Workingclass]

they build statue's for greats - this guy deserves a gutter. legends get stands named after them - this guy should get the Koch urinal. he's the September 11 of Club Chairman's. what he's done will be spoken about for a century.

Couple of stickers int he Adelaide Oval men's during Gather Round should do it. Let Reddit do the rest.

 

[Duck Farmer]

How bad is kockie with money that the has to dip into his super rather than draw on what should be a substantial savings fund given his and his wife's careers..

This is "financial genius business guru" kockie btw

If he declares bankruptcy he won't be able to hold a position as a company director under the Corporations Act and will have to resign from the Board. Time to deathride Pinstripe Media.

 

[TeeKray]

Lol he'd easily be worth 8 figures, don't believe his common man rubbish.

 

[philreich]

Koch doesn’t recognise it as a problem.

He’s incapable of recognising it as a problem.

He's also incapable of understanding that he's a major part of the problem at Alberton.

 

[GremioPower]

Lol he'd easily be worth 8 figures, don't believe his common man rubbish.

Those guys bankrupt too

 

[TeeKray]

Those guys bankrupt too

He's way too conservative to be that guy.

 

[Contested Marx]

Couple of stickers int he Adelaide Oval men's during Gather Round should do it. Let Reddit do the rest.

https://www.officeworks.com.au/print-copy/p/floor-adhesives-pcbsfacp

These guys would be perfect

 

[Grave Danger]

FMD

 

[Launchpad McQuack]

Is there anything this guy does that isn't embarrassing?

 

[Doctor Feel]

FMD

Lol who does he think he is

 

[RussellEbertHandball]

Lol who does he think he is

The next chairman of the AFL.

 

[TazD]

Sounds like the future AFL chairperson.

 

[Duck Farmer]

FMD

Patronising w***er. There were literally multiple AFL games played at Norwood Oval this weekend.

Plus, I don't think the fans are the ones that play in the stadiums.