Randy Lerner "State of Aston Villa" Statement

[pauliewalnuts]

Oh no. What has he done?

[not3bad]

I can't get my hat on.

[Brend'Watkins]

There's a column missing in that table, a very important column.

[eastie]

calling villadawg ,theres something to get your teeth into.

[London Villan]

Has this "Statement" actually been released?

[not3bad]

Has this "Statement" actually been released?

Yes, he said all the Villa fans are sound except for yowe.

[The Laughing Policeman]

Has this "Statement" actually been released?

Don't worry about a thing
cause every little thing is gonna be alright
don't worry about a thing
every little thing is gonna be alright

Rise up this morning
smiled with the rising sun
three little birds
pitch by my door step
singing sweet songs
of melodies pure and true
saying, this is my message to you:

don't worry about a thing...

[London Villan]

Has this "Statement" actually been released?

Yes, he said all the Villa fans are sound except for yowe.

That was nice of him!

[TimTheVillain]

Mat Kendrick on Twitter told me not to get too excited about it. Or I assume he did, I got bored half-way through his tweet and stopped reading

*bangs head against wall*

[Damo70]

This statement must be longer than War And Peace the amount of time it's taking him to prepare it.

[JUAN PABLO]

http://www.bloomberg.com/news/2011-08-08/browns-lerner-to-get-investment-in-hedge-fund-back-judge-rules.html


some Randy news

[Louzie0]

Gosh, 'forced to invest $326 million' in the Villa. 
Either the FA or Paul Faulkner is a lot harder than I've been led to believe.

[Villa'Zawg]

Some interesting stuff in the judgement on that court case...

"The Paiges claim that the Lerner Fund was experiencing severe
financial distress as of that time because the family had retained a substantial block of
Bank of America stock it had received when MBNA was sold to Bank of America and
the value of that stock had decreased from $40.56 per share at the beginning of 2008 to
$14.08 per share by the end of 2008. Although I find this claim to have no substantial
basis, for reasons I later discuss, I have little doubt that the decline in Bank of America’s
value and the general market conditions led the Lerner Fund to look closely at its
investments and to review whether they were prudent. But, I find no reliable basis to
conclude that the Lerner Fund was in emergency mode or faced a liquidity or solvency
crisis."

[Fuse]

Some interesting stuff in the judgement on that court case...

"The Paiges claim that the Lerner Fund was experiencing severe
financial distress as of that time because the family had retained a substantial block of
Bank of America stock it had received when MBNA was sold to Bank of America and
the value of that stock had decreased from $40.56 per share at the beginning of 2008 to
$14.08 per share by the end of 2008. Although I find this claim to have no substantial
basis, for reasons I later discuss, I have little doubt that the decline in Bank of America’s
value and the general market conditions led the Lerner Fund to look closely at its
investments and to review whether they were prudent. But, I find no reliable basis to
conclude that the Lerner Fund was in emergency mode or faced a liquidity or solvency
crisis."

What is more worrying is that the Bank of America share price is now down to $6.89 a share! I have long held the view that the economic crisis has hit Randy hard. I am led to believe that the deal they cut with Bank of America for MBNA was a combination of cash plus shares and irrespective of the split, Randy and his family have lost a huge amount of money as far as net worth is cocnerned.

I think Randy will be looking to either sell part or all of AVFC at the moment.

[Percy McCarthy]

Some interesting stuff in the judgement on that court case...

"The Paiges claim that the Lerner Fund was experiencing severe
financial distress as of that time because the family had retained a substantial block of
Bank of America stock it had received when MBNA was sold to Bank of America and
the value of that stock had decreased from $40.56 per share at the beginning of 2008 to
$14.08 per share by the end of 2008. Although I find this claim to have no substantial
basis, for reasons I later discuss, I have little doubt that the decline in Bank of America’s
value and the general market conditions led the Lerner Fund to look closely at its
investments and to review whether they were prudent. But, I find no reliable basis to
conclude that the Lerner Fund was in emergency mode or faced a liquidity or solvency
crisis."

What is more worrying is that the Bank of America share price is now down to $6.89 a share! I have long held the view that the economic crisis has hit Randy hard. I am led to believe that the deal they cut with Bank of America for MBNA was a combination of cash plus shares and irrespective of the split, Randy and his family have lost a huge amount of money as far as net worth is cocnerned.

I think Randy will be looking to either sell part or all of AVFC at the moment.

The Lerners got something like $2.5billion in Bank of America shares and $300million in cash, for their share of MBNA.