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Re: Wirral Indisputably One of Britains Great Places [Re: diggingdeeper] #1051376
13th Jan 2018 1:48pm
13th Jan 2018 1:48pm
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venice Offline

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Originally Posted by diggingdeeper
Interesting, they were talking about a 50-50 Limited Liability Partnership last year. The decision of which partner to choose has not been made yet but will happen very soon afaik.


So to sum up , does this really mean the Council BEFORE knowing who its partner is going to be , has agreed to and recorded at companies house that ---

" The other registerable person holds directly , or indirectly 75% or more of the shares in the company . The other registerable person has the right , directly or indirectly to appoint or remove a majority of the board of directors of the company. The other registrable person holds, directly or indirectly, 75% or more of the voting rights in the company"

Is that the normal way its done ?? Seems dodgy to me , the Council accepting that their own directors of the company can be got rid of by partners and replaced with partners own choices? Partners may not even have Wirrals needs and interests at heart, just profits.

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Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051390
13th Jan 2018 3:48pm
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Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051411
13th Jan 2018 9:25pm
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Although I don't understand all of that jargon, I still feel there are issues surrounding such a 'profit making' company , because that's basically what it will be. A council 'profit making' company, and I always understood that councils were not legally allowed to make profits as such.
If that has now changed, then it's the thin end of the wedge, as the practice will creep further and further into whatever council services are remaining, and we, the public, will not have anyone accountable .
It's something that has been tried in other parts of the country thus creating new jobs in the private sector, which seems fine, but as I see it, only until jobs at the local authority go and legal eagles move in to take the vast majority of the profits back in fees, will reality dawn.
So far as a quick fix....it aint !

What a minefield.


Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect.
~Chief Seattle
Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051419
14th Jan 2018 12:02am
14th Jan 2018 12:02am
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venice Offline

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To be fair,Ive only lightly looked over the report Dusty posted (thanks ), but it certainly looks like all the considerations of which options they should choose to forward the idea of the property company ,the financial pluses and minuses, the running of it etc, were, as DD said, based/tested soley against a 50-50 split. 64 pages of the ins and outs of a 50-50 split .

Financially "The Councils land value is being used as its equity, with the private partner matching the land value with a cash injection.This matching of land value will ensure that the joint venture maintains a 50-50 equity split throughout the development stages , and this reflects the ultimate profit share from viable developments ."


Now those profits are only going to be 25% by the look of it -

As for
"Equal sharing of risks and rewards .Equal control with the same number of board members from each of the Council and a private sector partner. Decision making by consensus. "

Well it looks like thats not happening either ,now its

" The other registerable person holds directly , or indirectly 75% or more of the shares in the company . The other registerable person has the right , directly or indirectly to appoint or remove a majority of the board of directors of the company. The other registrable person holds, directly or indirectly, 75% or more of the voting rights in the company"

So when all these developments are made on Council land , the Council only has a quarter say on whether they are sold on, or who to, get only 25% of the profit --- sounds great.

Im just wondering when all this huge change came about? It seems to have happened very quickly and quietly. Maybe Im misunderstanding it ?

Be nice to have a member of the Council come and explain it all incase its not how it looks.


Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051450
15th Jan 2018 12:31pm
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Carillion comes to mind. Got to get used to the idea that there are loads of our leaders who have their hands in our pockets one way or the other, and I'm talking about across the board not just centre, left of centre or right of centre. Politicians are in it for their own benefit, fact, so don't be surprised when they pull these stunts.


Birkenhead........ God's own Room 101.
Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051453
15th Jan 2018 12:58pm
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I can only think that the council have taken on board "The Peel Model" Take .a piece of worthless land, add planning permission and we are staring to make" money, on paper anyway".The council borrow on the strength of "the money on paper anyway" and tell us they have not borrowed because" the money on paper anyway" balance the books. I have not figured out if the councils share is pre planning or post planning permission. land price but the principle stays the same. We end up with less assets worth more "on paper anyway".

Re: Wirral Indisputably One of Britains Great Places [Re: BandyCoot] #1051464
15th Jan 2018 3:09pm
15th Jan 2018 3:09pm
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Originally Posted by BandyCoot
Carillion comes to mind. Got to get used to the idea that there are loads of our leaders who have their hands in our pockets one way or the other, and I'm talking about across the board not just centre, left of centre or right of centre. Politicians are in it for their own benefit, fact, so don't be surprised when they pull these stunts.


Carillion in trouble.. I used to work for a construction company that i doubt were in their pockets as we mysteriously seemed not to win any job we tendered for even when going in at nil profit.

Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051504
16th Jan 2018 1:50pm
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I wonder how well the council 25% would be protected if the private company carries on with the developments calling all the shots on whats built where etc and runs up debts with contractors etc and then does a Carillion . Wonder if that had any bearing on the decision (whenever it happened) , for the reduction from 50%-25%.

Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1051619
19th Jan 2018 10:23am
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Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1052897
21st Feb 2018 9:06pm
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Muse has been chosen as Wirral Council's joint development partner in the Wirral Growth Compnay. The first development is to be completed by 2022 and includes new Council offices.

https://www.placenorthwest.co.uk/news/muse-chosen-for-1bn-wirral-regeneration/#.Wo2454vkEbg.twitter


In a time of universal deceit - telling the truth is a revolutionary act. George Orwell

We should judge our economy by the absence of poverty, not the number of billionaires - Jeremy Corbyn
Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1052904
22nd Feb 2018 12:28am
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Hi guys, it has been about 47 years(apart from 5 days back in 2011) since I left the Wirral. No doubt the Wirral is a beautiful place. Unfortunately it never had anything going for it, once you discount the shipyards and slaughter houses(all gone now). If you look way back in History all it was was a forest for the king too hunt in. It had nothing of any value. There are some mentions in the Doomsday Book, but nothing of any note.
Birkenhead has always been what has been described here as a shit hole. I don't know what has to be done. Maybe bulldoze it all and start again. Which they probably should have done after the war..

Re: Wirral Indisputably One of Britains Great Places [Re: diggingdeeper] #1052905
22nd Feb 2018 8:27am
22nd Feb 2018 8:27am
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Originally Posted by diggingdeeper
Muse has been chosen as Wirral Council's joint development partner in the Wirral Growth Compnay. The first development is to be completed by 2022 and includes new Council offices.

https://www.placenorthwest.co.uk/news/muse-chosen-for-1bn-wirral-regeneration/#.Wo2454vkEbg.twitter


I dont understand how they can still be stating its a 50/50 split after that paperwork I posted shows 75/25

Re: Wirral Indisputably One of Britains Great Places [Re: dingle] #1052910
22nd Feb 2018 1:27pm
22nd Feb 2018 1:27pm
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Originally Posted by dingle
Birkenhead has always been what has been described here as a shit hole.


Its in good company then, I don't know of a UK town or city that isn't called the same, mostly by the very same antisocial people that are causing the description.


In a time of universal deceit - telling the truth is a revolutionary act. George Orwell

We should judge our economy by the absence of poverty, not the number of billionaires - Jeremy Corbyn
Re: Wirral Indisputably One of Britains Great Places [Re: fish5133] #1052913
22nd Feb 2018 3:53pm
22nd Feb 2018 3:53pm
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Birkenhead is a Shit Hole, people in denial are normally those who live in one and are used it .

Re: Wirral Indisputably One of Britains Great Places [Re: dustymclean] #1052943
22nd Feb 2018 11:56pm
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Originally Posted by dustymclean
Birkenhead is a Shit Hole, people in denial are normally those who live in one and are used it .


Name somewhere better, I notice you haven't moved away?


In a time of universal deceit - telling the truth is a revolutionary act. George Orwell

We should judge our economy by the absence of poverty, not the number of billionaires - Jeremy Corbyn
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