Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

[Eastdog]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Thanks for that TD. So where do you see it going from here for Slater and Gordon?

[Bornadog]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

They bought out a large English law firm which had a lot more debt attached to it than they realized/had been told about. It looks to me that they saw the sale price and forgot to do their due diligence


Its another shining example of why companies should stick to their core business (what they are supposed to be doing) and leave money making to the banks and financial institutions.

The British Government is changing the laws on compensation from traffic accidents which has severely dented income. The majority of income for the UK firm comes from compensation recovery, but the British government has lowered the threshold and this has impacted the earnings dramatically.

Now S&G are writing off the goodwill they paid for the UK arm. Mainly because it is not worth the amount they paid for it. They paid $1.3 billion and writing off over $800k.

Yes debt in the UK firm has increased dramatically and they are finding it hard to service due to lack of cashflow.

[jeemak]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Here's something useful Eastdog.

http://www.smh.com.au/business/workplace-relations/more-to-slater--gordons-problems-than-just-the-uk-20151224-glup2a.html

TD's right, but it's also a matter of acquiring a whole bunch of businesses that don't have the capacity for growth that's forecast to the market.

[Throughandthrough]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

The Slater and Gordon brand is completely shot. And I don't know but I guess that Peter Gordon has or will take a large haircut from the collapse. I guess questions will be asked whether he's still allowed to be a president of a footy club. As an example (and not saying that he will) if he went bankrupt things would be bad in many levels. Don't take this the wrong way, I idolise PG, just talking hypothetically.

[dadsgirl16]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

I didn't think PG was the "Gordon" part in the Slater and Gordon??

[Bornadog]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

The Slater and Gordon brand is completely shot. And I don't know but I guess that Peter Gordon has or will take a large haircut from the collapse. I guess questions will be asked whether he's still allowed to be a president of a footy club. As an example (and not saying that he will) if he went bankrupt things would be bad in many levels. Don't take this the wrong way, I idolise PG, just talking hypothetically.

Peter is not on the board, is not an employee and I don't believe he is a shareholder, so your statement is not correct.

I didn't think PG was the "Gordon" part in the Slater and Gordon??

Correct.

[jeemak]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

According to this he took 5.94m shares with him as he departed as director in 2010.

http://www.crikey.com.au/2016/03/03/mayne-who-can-rescue-slater-gordon/

Hopefully he didn't hang on to them!

[Webby]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Peter Gordon has nothing to do with Slater & Gordon apart from being a former partner. He is not "the Gordon" in the name. (I believe they were called Slater and Gordon since before PG was born, btw!) He had a good career with them. (Remember he is just a kid from West Footscray, so there was no inside rail given to him!) He became a senior partner and won a large class action with them several years ago. That was prior to him cashing in his chips and starting his own firm, Gordon Lawyers.... Or is it Gordon Legal?

Anyhow, he obviously has contacts at Slater & Gordon and I guess would've been influential in them sponsoring us. He did, to my knowledge, receive shares in them upon departure and, indeed, hopefully he disposed of them over the past few years. I expect he would have cashed out at least some, if not all of them.

Talk about his presidency being affected by this is sheer hysteria. Uneducated pub talk, I'd expect!

[bulldogtragic]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

I didn't think PG was the "Gordon" part in the Slater and Gordon??

He wasn't, isn't. But he was a partner when they floated it. Coincidental surname.

[Greystache]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

The Slater and Gordon brand is completely shot. And I don't know but I guess that Peter Gordon has or will take a large haircut from the collapse. I guess questions will be asked whether he's still allowed to be a president of a footy club. As an example (and not saying that he will) if he went bankrupt things would be bad in many levels. Don't take this the wrong way, I idolise PG, just talking hypothetically.

Western Mining is in real trouble too, it's share price has dropped 99% in the past 12 months. Does that mean there's doubts to the viability of the Western Bulldogs as a going concern, we both share the name Western?

[Greystache]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

He wasn't, isn't. But he was a partner when they floated it. Coincidental surname.

Hugh Gordon founded Slater & Gordon along with Bill Slater in 1935.

[Axe Man]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Media reports are incorrect, Slater & Gordon still a platinum sponsor!

Club Statement: Slater + Gordon Partnership

Please find below a statement from the Western Bulldogs Football Club:

As was publically announced by the Western Bulldogs at the Club's Season Launch in March, Slater + Gordon will once again be one of the Clubs’ platinum partners in season 2016.

In January, the Club agreed on a new three-year agreement which will once again see the law firm be one of the Club’s most important corporate supporters.

Slater + Gordon provided its Footscray offices free of charge for the three weeks of the campaign in 1989 to save the Footscray Football Club.

Since that time, it has contributed millions of dollars in sponsorship to the Club and it remains a vital cog in the Club’s resurgence on and off the field.

Most of the law firm’s support has been in the area of the Club’s community services ranging from the Care for Kids campaign of the early 1990s right through to the Robert Rose Cup and #disabilityinclusion games between the Bulldogs and Collingwood over the last three years and extending to the next three.

The Bulldogs regret the inaccurate reporting of this matter yesterday.

[bulldogtragic]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

According to this he took 5.94m shares with him as he departed as director in 2010.

http://www.crikey.com.au/2016/03/03/mayne-who-can-rescue-slater-gordon/

Hopefully he didn't hang on to them!

I recall he sold them, but I'm not 100%.

[Ghost Dog]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Someone just got egg on their face.....
Another victory for the Western Bulldogs! Keep racking them up people....

[Bornadog]

Re: Embattled law firm Slater and Gordon pulls Western Bulldogs sponsorship

Anyhow, he obviously has contacts at Slater & Gordon

His son works there.