Joe Russo wants on the board

[Yogibear17]

I definitely haven't been following this as closely as others on here but I am afraid I smell a bit of a rat/ulterior motive here. Great to see folk putting their hand up to get involved etc... but I am not convinced at all that it is being done the right way, or for that matter that anything really needs to be changed at this point in time.

Just my insignificant 2 bobs worth.

 

[Infamy]

The grandstand is now being used at the VFL games and there were other works at the ground including 4 light towers, the new score board and upgrading the players rec room.

Welcome to the forum
I'm aware of what its being spent on, I'm just suggesting that if the JDF fund wasn't there, those things weren't absolute necessities and could have been postponed if we didn't have the money. Its a pointless argument though as the JDF fund is there, its not the reason we are running at a profit and talk about what would happen if it didn't exist is just a hypothetical.

 

[TheAnt]

Anyone know which number on the membership card is the Account ID to vote?

 

[Infamy]

Anyone know which number on the membership card is the Account ID to vote?

Check your email for one from Computershare, it has the number you need to use when logging on to the site

 

[This Is Anfield]

Btw if bomberblitz can get nutters on their board, and PRE can nearly make Pahoof our list manager thanks to their EGM petition trigger, wtf are we sitting on our hands and not getting involved in the fun

Surely we have a loose cannon tin foil hat wearing cat person who we can get on the board just to freak the shit out of Caro

• 

 

[theflea]

Any investment depending on RFC depreciation lodgements can expose us to debt, and this isnt a bad thing... Depending on how they budget!!

Yeah I am not against borrowing for the right investment we need.

 

[theflea]

No, no it's not

The JDF is like a piggy bank for infrastructure

We as fans put in a little every year as a donation

If the club is spending on infrastructure, they take the relevant sum from it. If not, they don't

If we are using the JDF it's because we are spending on infrastructure, which we did, and which the money is for

I think the point is we should make a profit regardless of the JDF accounts, ie as an operating surplus. The previous year we an OS of about 800k. So the question is why, but its not a witch hunt, just want to know why? Did we have a increase in membership, sponsorship dollars but simply spent more in other areas? This imo was the point, not really about how or where spend the JDF money.

 

[theflea]

Not sure, been ages since I checked

Off memory it's a seperate trust donations are sent directly too, and I believe there is a trustee (no idea who) who manages it to make sure it's not a arm account

As for "grandstand" improvements, my understanding is its to the buildings as a whole. Remember the JDF made a contribution to what was the me bank centre

This year we had works on the stand in any case (remember early in the season it was being completed)

Lights?

 

[theflea]

I agree that it's not an overnight fix to get off the gambling teet. But its not sustainable and we should have a paln to move away from revenue from this source over time. I would like to know if the club thinks this way and if so what the plan is to acheive it

I would suggest that pokie revenue is sustainable, which is why early all clubs do it.

 

[Sir_Loin]

That's nothing to do with what I posted

I was responding to your suggestion that a board member could arrange investments in property development for the club

I said it's a bad idea because of the potential conflict of interest. What do you do if you have a board member who profits from a bad investment the club made

This isn't about Joe, but any one asking the club to invest millions in them (and to be fair Joe hasn't even hinted at this)

Where's the conflict?

I was responding to your suggestion that a board member could arrange investments in property development for the club

I said it's a bad idea because of the potential conflict of interest. What do you do if you have a board member who profits from a bad investment the club made

This isn't about Joe, but any one asking the club to invest millions in them (and to be fair Joe hasn't even hinted at this)[/QUOTE]

Sorry why is it a bad idea? Just because someone works in an industry does not automatically create a conflict of interest. If for example Joe advises the club on development opportunities but has no financial interest in the deal where's the conflict?

The club has appropriate governance processes in place and if a conflict of interest was to occur they would apply the appropriate board rule or policy in that circumstance.

 

[theflea]

Btw if bomberblitz can get nutters on their board, and PRE can nearly make Pahoof our list manager thanks to their EGM petition trigger, wtf are we sitting on our hands and not getting involved in the fun

Surely we have a loose cannon tin foil hat wearing cat person who we can get on the board just to freak the shit out of Caro

Vote 1 Mr Magic.

 

[Ned_Flanders]

I think the point is we should make a profit regardless of the JDF accounts, ie as an operating surplus. The previous year we an OS of about 800k. So the question is why, but its not a witch hunt, just want to know why? Did we have a increase in membership, sponsorship dollars but simply spent more in other areas? This imo was the point, not really about how or where spend the JDF money.

Then you need to remove the cost of the capital works the JDF was spent on, which you can't do

 

[Dr Tigris]

If this leads to debate and analysis of our position, structure and strategy then great. If it is a go to change the pres then not happy. I like our prez, and she has my vote.

Thing is it could be both. The board is fairly closed, which I don't like. But they are doing things I love. I hate it when I can see both sides. Give me abbot any day - I KNOW where I stand on him.

(Actually I wouldn't mind standing on Abbot, then jumping up and down a bit )

 

[Ned_Flanders]

Where's the conflict?

I was responding to your suggestion that a board member could arrange investments in property development for the club

I said it's a bad idea because of the potential conflict of interest. What do you do if you have a board member who profits from a bad investment the club made

This isn't about Joe, but any one asking the club to invest millions in them (and to be fair Joe hasn't even hinted at this)

Sorry why is it a bad idea? Just because someone works in an industry does not automatically create a conflict of interest. If for example Joe advises the club on development opportunities but has no financial interest in the deal where's the conflict?

The club has appropriate governance processes in place and if a conflict of interest was to occur they would apply the appropriate board rule or policy in that circumstance.[/QUOTE]

The conflict is why he recommends certain investments, and if it has the potential to benefit his own in any way

Tbh these issues normally start off very innocently, and no one has bad intentions. It's when party a loses money and party b doesn't that the shit can hit the fan

It's better to avoid the situation completely

If you want an example, look at Casey and his property deals with the players. Deals didn't meet initial profit projections, so several players threatened legal action. It was all supposed to be arms length from the club, but became very messy and nearly saw us in breach of the cap rules

 

[theflea]

I read Caroline Wilson’s piece in The Age today with interest.


Like me, I know Caroline is a diehard Tiger and has the best interests of the club at heart. So we share the same passion.


But on this occasion Caroline’s passion may have clouded some of her thinking here. I would have appreciated Caroline having a chat with me before she put forward her opinion, but I wasn’t given an opportunity to present my side of the story.


So here it is.


I am not challenging the Board. I’m nominating for a position on the Board.


I have no intention to cause instability. Or should that I say further instability? It would seem already somewhat unstable to me – Carl Walsh was a Board Member who was unceremoniously removed with no explanation recently. And what leads Caroline to suggest there are “fractures”?


I have never said President O’Neal’s leadership is in question.


I have never ever suggested that we should somehow break the rules and go under the table to retain or attract players. The accusation is frankly preposterous and bordering on defamatory.


I didn’t front the Nominations Committee because it is a compromised system – current board members sit on the committee, and I was told not to bother because I don’t have tertiary qualifications.


What I have said all along that my intention is to support the club and make us stronger – I do not wish to cause instability. I have a strong desire to work with the current Board and the President. I am proud of the fact Richmond can boast the first female President. That has nothing to do with the lack of diversity I’m referring to. Caroline’s comment on that aspect demonstrates her lack of perspective here.


I want to be clear about what I mean about diversity – with the appointments of John O’Rourke and Brendon Gale the Board now comprises nine men and women – four of whom are accountants, three are lawyers and there is an advertising executive and Tony Free as football director. That is not diverse.


I again repeat – I have the utmost respect for what the Board has achieved in the recent past.


But the lack of diversity is irrefutable and I know through my business experience that fresh ideas and fresh blood is needed. That’s why I think we need an injection of fresh ideas – and I think I can provide that. I am not talking about wholesale changes. I agree with Caroline that would do a lot more harm than good.


But incremental adjustments are what this is about and fresh blood to help take us forward. Boards should be changing and updating – that’s why we have elections and AGM’s, it’s written into the constitution. But some on our board have been there far too long. They would be long gone if this were Hawthorn, by their rules. I think that speaks for itself.


Yes we have improved – but I’m not satisfied with our on-field performance and I’m sure most members are ready to accept elimination finals losses as our benchmark. There is a fine line between stability and stagnation. And I fear we are about to cross it.


New ideas, and building the right team is what I’m about. And nothing but the best for the Tigers.

Joe

Joe exclude your own expertise, but what diversification should we be looking at apart from the bean counters and lawyers?

 

[NZ_Tiger]

I would suggest greater investment in pokies not less. There's a slated law that will require players to register to become use pokie machines, this brings in the ability for clubs to target marketing and introduce membership rewards programs and compete on a more level footing with the casino. I can see large chains of clubs amalgamating their membership and hopefully our club managers are quick to capitlize on this. While I think Matheison will probably beat us to it there is an opportunity right now to get a program off the ground and offer it to smaller independent clubs and derive revenue from it as a service provider. All in all I expect poker machines to be a continuing growth industry particularly with the increase in Asian migration.

 

[Ned_Flanders]

• 

Btw, this is true

The deal was Pahoof would hand over his petition which could be used as an EGM trigger, and the challenge ticket would appoint him as list manager

I shudder to think what our list would have looked like with him running it

 

[Infamy]

Btw, this is true

The deal was Pahoof would hand over his petition which could be used as an EGM trigger, and the challenge ticket would appoint him as list manager

I shudder to think what our list would have looked like with him running it

I never liked the bloke, but he did (maybe does still) have a big interest in junior football
From memory in 2004 he absolutely loved Jordan Lewis so there's a fair chance our first two picks would have been Lids & Lewis.

 

[theflea]

Then you need to remove the cost of the capital works the JDF was spent on, which you can't do

This is still not answering the salient point of operation surpluses and why we didn't have it? Im coming from the p.o.v that if did gain in membership, sponsorship revenue( and because it is hidden its hard to know), and did well in these areas, but did spend more in the FD, and capital works, then fair enough. Happy to do it, but as I said, as it is hidden, how do we know?

 

[theflea]

I would suggest greater investment in pokies not less. There's a slated law that will require players to register to become use pokie machines, this brings in the ability for clubs to target marketing and introduce membership rewards programs and compete on a more level footing with the casino. I can see large chains of clubs amalgamating their membership and hopefully our club managers are quick to capitlize on this. While I think Matheison will probably beat us to it there is an opportunity right now to get a program off the ground and offer it to smaller independent clubs and derive revenue from it as a service provider. All in all I expect poker machines to be a continuing growth industry particularly with the increase in Asian migration.

And no matter if your in the 'I hate pokies' camp, it is here to stay for the long term. With fixed numbers of machines, just someone else will have the licenses, so it doesn't reduce the numbers anyway. The profit just goes to other entities.

 

[NZ_Tiger]

And no matter if your in the 'I hate pokies' camp, it is here to stay for the long term. With fixed numbers of machines, just someone else will have the licenses, so it doesn't reduce the numbers anyway. The profit just goes to other entities.

A quick look at our states finances will tell you pokies are here to stay. Take out $200m from Crown plus whatever we get in other gambling taxes and see where we would be.

 

[ScallyWag1]

Joe exclude your own expertise, but what diversification should we be looking at apart from the bean counters and lawyers?

Since they appear to be the gold standard, here is the current Hawthorn board:

• Andrew Newbold (President) - Lawyer
• Richard Garvey (V-P) - Financial Advisor and 34 years as a Chartered Accountant
• Andrew Kaye - Neurosurgeon
• Bruce Stevenson - Former Player, Life Member of the Club
• Richard Amos - Director of business and communication strategy firm
• Prof. Linda Kristjanson - Internationally renowned scholar, Vice-Chancellor and President of Swinburne University
• Andrew Gowers - Financial Consultant
• Peter Nankivell - 27 years as a commercial lawyer

Lot of bean counters and lawyers on that one... I hope someone is challenging them to be more diverse if they ever hope to taste any success

 

[theflea]

Since they appear to be the gold standard, here is the current Hawthorn board:

• Andrew Newbold (President) - Lawyer
• Richard Garvey (V-P) - Financial Advisor and 34 years as a Chartered Accountant
• Andrew Kaye - Neurosurgeon
• Bruce Stevenson - Former Player, Life Member of the Club
• Richard Amos - Director of business and communication strategy firm
• Prof. Linda Kristjanson - Internationally renowned scholar, Vice-Chancellor and President of Swinburne University
• Andrew Gowers - Financial Consultant
• Peter Nankivell - 27 years as a commercial lawyer

Lot of bean counters and lawyers on that one... I hope someone is challenging them to be more diverse if they ever hope to taste any success

The thing is, these people are smart cookies and can understand deficiencies they have as a group. But that also can be found from club employees and consultants to the board and club.

 

[Sir_Loin]

I would suggest that pokie revenue is sustainable, which is why early all clubs do it.

I would suggest greater investment in pokies not less. There's a slated law that will require players to register to become use pokie machines, this brings in the ability for clubs to target marketing and introduce membership rewards programs and compete on a more level footing with the casino. I can see large chains of clubs amalgamating their membership and hopefully our club managers are quick to capitlize on this. While I think Matheison will probably beat us to it there is an opportunity right now to get a program off the ground and offer it to smaller independent clubs and derive revenue from it as a service provider. All in all I expect poker machines to be a continuing growth industry particularly with the increase in Asian migration.

I'm sure Tabacco and Alcohol companies had similar thoughts about their respective industries and we can see where they are heading

Ethically I'm not sure how I feel that we rely so heavily on gambling as a revenue source - it could conceivably go the way of tobacco and if it does, then what?

And if you want to weigh up conflict of interest vs "harmless" pokies then I'm sure the toss could be argued

 

[Sir_Loin]

Sorry why is it a bad idea? Just because someone works in an industry does not automatically create a conflict of interest. If for example Joe advises the club on development opportunities but has no financial interest in the deal where's the conflict?

The club has appropriate governance processes in place and if a conflict of interest was to occur they would apply the appropriate board rule or policy in that circumstance.

The conflict is why he recommends certain investments, and if it has the potential to benefit his own in any way

Tbh these issues normally start off very innocently, and no one has bad intentions. It's when party a loses money and party b doesn't that the shit can hit the fan

It's better to avoid the situation completely

If you want an example, look at Casey and his property deals with the players. Deals didn't meet initial profit projections, so several players threatened legal action. It was all supposed to be arms length from the club, but became very messy and nearly saw us in breach of the cap rules[/QUOTE]

I know Joe is potentially talking about the players but my point was on alternate revenue streams for the club