The Border Terrier Posted April 3, 2015 Share Posted April 3, 2015 So Slim why do you think someone bought the shares at that price?Skelly, does anybody think he has the business acumen to be trusted with franchising the TT?[/background][/size] No. Because Skelly is a gold-plated, Grade A, twat. Not that Quayle is any better, but could you just imagine what the Health Service would've ended up as if Lol had got his 'heart's desire' and been promoted into it? Quayle has to get the hip waiting list under control and Lol has to franchise the TT before September '16. No excuses. TBT. Quote Link to comment Share on other sites More sharing options...
asitis Posted April 4, 2015 Share Posted April 4, 2015 (edited) http://www.iomtoday.co.im/news/isle-of-man-news/pinewood-shares-sold-at-profit-1-7187344 He really is desperate to glory in this isn't he ! Maybe he is hoping that this small victory will stop the questions ! Edited April 4, 2015 by asitis Quote Link to comment Share on other sites More sharing options...
asitis Posted April 4, 2015 Share Posted April 4, 2015 http://www.iomtoday.co.im/news/isle-of-man-news/investments-should-remain-confidential-insists-teare-1-7192171 Someone posted that Eddie Teare was exhibiting the signs of dementia, I dismissed it as a quip in poor taste, however having read this headline above I am beginning to wonder. Which politician in their right mind when trying to play down public anger and fend awkward questions in Tynwald now comes out with this !! Talk about trying to put out a fire with petrol ! On top of how incompetent they may be at running the island they are certainly utterly incompetent at playing the game of politics too !! Quote Link to comment Share on other sites More sharing options...
Lisenchuk Posted April 4, 2015 Share Posted April 4, 2015 Arrogance in the extreme,you really couldn't make this shit up no matter how hard one tried. 5 Quote Link to comment Share on other sites More sharing options...
ubbiali Posted April 4, 2015 Share Posted April 4, 2015 The utterly amazing thing is that Teare appears to firmly believe that the voters will go on swallowing rubbish like "commercial confidentiality" as a full, frank and smart answer to just about every question he is asked. The tragedy is that there still appears to be a substantial proportion of the electorate who either believe him, accept his naive responses or simply do not care. Teare is cocooned in the Keys from attack by the few who would really like to have a go at him and he manages to be exempt from any effective grilling from the media when it appears from his performances in the Keys/Tynwald, media, Roamin Comin (whatever happened to that) etc that a second year law student with a speech impediment would make mincemeat of him. 4 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted April 4, 2015 Author Share Posted April 4, 2015 ...a second year law student with a speech impediment would make mincemeat of him.The closest we'll get to that is if the second rate bore Malarkey gets in. 1 Quote Link to comment Share on other sites More sharing options...
Shake me up Judy Posted April 5, 2015 Share Posted April 5, 2015 (edited) Thilvester would thort out the thilt problem alright. (Sorry boys and girls. I jumped threads there) Edited April 5, 2015 by Shake me up Judy 1 Quote Link to comment Share on other sites More sharing options...
integrity Posted April 7, 2015 Share Posted April 7, 2015 Press release in the paper today in the Examiner Tuesday, from Liberal Vannin, reflects a lot of the comments made over the last few days on this forum. 2 Quote Link to comment Share on other sites More sharing options...
Wankleaks Posted April 7, 2015 Share Posted April 7, 2015 Press release in the paper today in the Examiner Tuesday, from Liberal Vannin, reflects a lot of the comments made over the last few days on this forum. Yes. It's worth repeating their press release here: "There is no doubt that the news that Treasury have arranged to sell roughly half of its holding in Pinewood for a profit of 50 per cent is good news. Not such good news as the Treasury Minister, Eddie Teare, is portraying but good news nonetheless. Minister Teare has always maintained that the investment in shares in Pinewood and the media advice/management of the media development fund are linked and has even referred to it as a hedge, although we are not quite sure how the definition of a hedge ties in with the Pinewood deal, so let’s have a quick recap of events since 2007 when the methodology of investment in the film industry was changed because of amendments to the VAT regulations. In 2007 £50,000,000 was transferred onto the balance sheet of CinemaNX Ltd, a privately-owned company, who advised Treasury on which films they should be investing in. This was not subject to a debate in Tynwald and in fact Tynwald members had no knowledge of this. It was a five-year contract and not one film made a profit, or broke even, in its own right during that time. When considering the overall benefit during the five years of the contract with CinemaNX various figures have been quoted by the Chief Minister, Treasury Minister, previous Treasury Minister and Oxford Economics. There is such a huge difference in their various assertions ranging from millions of gain to millions of losses that it is difficult to differentiate between what is fact and what is pure fantasy. What we do know for a fact is that at the end of the contract there was roughly £25,000,000 in cash remaining and other assets amounting to some £8,000,000. It is this £25,000,000 that was the subject of the debate in Tynwald together with the purchase of the Pinewood shares in June 2012. On November 25 last year, LibVan leader Kate Beecroft asked the Treasury Minister for the current position in respect of the media development fund and it was stated that, at that time, there was some £10,300,000 remaining in cash. In summary, and leaving aside any additional exchequer benefits and ignoring the £8,000,000 in other assets, between 2007 and 2012 the media development fund was depleted by some £17,000,000 and has been further depleted by some £14,700,000 up to the end of November last year. It has to be hoped that one of the films that has had public funds invested will turn out to be a major block-buster and give us a massive return on investment. It would appear that this film would have to return some £23,550,000 for the combined media development fund and the shares in Pinewood to break even. So whilst we are delighted that a £2,500,000 profit on some of the Pinewood shares will be realised, we are sure that people will understand why we are not overly delighted about the results as a whole." 6 Quote Link to comment Share on other sites More sharing options...
Tempus Fugit Posted April 8, 2015 Share Posted April 8, 2015 does the same spin doctor white the scripts for all the ministers ? Quote Link to comment Share on other sites More sharing options...
integrity Posted April 8, 2015 Share Posted April 8, 2015 Profit made in UK pays tax in UK Managing company is UK, Agents are UK, Basically wev'e given the money to the UK. Has the above comment been addressed,is the profit made by the Isle of Man Treasury now exposed to UK tax? Quote Link to comment Share on other sites More sharing options...
oldmanxfella Posted April 8, 2015 Share Posted April 8, 2015 It might be he is having his strings pulled by someone who maybe has a clue ! I hope so. At least, I suppose, we have recovered some money from the 10 year crock of shit we have bought into. I assume we have Mr W to thank for that. As a straight investment play teaming up with someone who knows about how to make money on the market makes sense. Teaming up with people who think they're Hollywood producers with our money makes a lot less sense. Looking at the depletion of the MDF it doesn't really matter how much we make on Pinewood shares - it's just a loss offset hedge strategy. 1 Quote Link to comment Share on other sites More sharing options...
woody2 Posted April 9, 2015 Share Posted April 9, 2015 Profit made in UK pays tax in UK Managing company is UK, Agents are UK, Basically wev'e given the money to the UK. Has the above comment been addressed,is the profit made by the Isle of Man Treasury now exposed to UK tax? yes and yes, no profit has been made 1 Quote Link to comment Share on other sites More sharing options...
integrity Posted April 9, 2015 Share Posted April 9, 2015 Profit made in UK pays tax in UK Managing company is UK, Agents are UK, Basically wev'e given the money to the UK. Has the above comment been addressed,is the profit made by the Isle of Man Treasury now exposed to UK tax? yes and yes, no profit has been made Woody2 I was discussing this in the pub of all places and I was challenged that no way was the this money that Eddie has earned on our behalf is exposed to UK tax? We have a reciprocal agreement, we declare our earnings to the Isle of Man tax and they make a charge. Is that the case? Quote Link to comment Share on other sites More sharing options...
WTF Posted April 10, 2015 Share Posted April 10, 2015 so, perhaps I'm not following too closely or even at all??, we sell 50% of the shares we had/have at a 50% profit that is stated as being 2.5 million. ( teare gets a hard on ) so did we sell something that was originally 5 million quid for 7.5 million???? based on that we only had 10 million quids worth of shares to start with then?????? where are the other long millions we spent with the film industry???? Quote Link to comment Share on other sites More sharing options...
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