Author Topic: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again  (Read 35982 times)

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Offline peach

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #120 on: February 12, 2011, 10:47:55 AM »
This becomes more distasteful as every day passes.

some observations

1.  If it is that good why is there no a queue to invest in it?

2.  How much of their own money have Mr Hunt, Councillors Bluh, Edwards and Perkins invested?

3.  A project that has merit will always survive despite its detractors, why is Digital City exempt and therefore special?

In the absence of any other information is it reasonable that Mr Hunt's investment is to the value of his shareholding alone and that none of the Councillors have invested so much as a penny of their own money despite their enthusiasm to use ours?


Richard

On TV yesterday was an interview did you hear that some expert point out it would have been several millions needed to do what was planned for Swindon? If so, did you record it?


IS currently on iPlayer starts a 8m 50s http://www.bbc.co.uk/iplayer/episode/b00ycvmj/BBC_Points_West_11_02_2011/

Offline Des Morgan

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #121 on: February 12, 2011, 11:28:50 AM »
One has to smile at Mr Hunt's comments.  If he is correct then the claim made by officers in the paper requesting variations to a number of conditions were simply not true.  The Council cannot have it both ways. According to officers, investors were not prepared to commit on the basis of a 'pilot scheme' alone, they wanted a display of long term committment from the council which was to be by way of the release of further funds. The Council made available the further funds and still there was no inward investment.

Isn't the reality that the project was over egged, over sold and under resourced a more likely explanation for its failure?

An expert in the field suggested that a sum of £5 to £10millions will be required to do what Digital City said they would do for less than £2million - a very sobering thought.

Oh and if the observations made by officers in the report I have referred to were wrong then we have another issue to resolve.


ph1lc

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #122 on: February 12, 2011, 12:19:32 PM »
Des
Congratulations on your article in the adver yesterday. Despite what Messrs Hunt and Perkins are saying it was very fair and balanced.

What I fail to understand is how the Council can reconcile their share of the proposed profits given that the project was going to cost £2million. To reconcile the two figures DC would need around 50% of households to be subscribing to the basic package.

Furthermore - where did they thing the other £1.5 mill was coming from? Investors are going to want equity and that would waterdown the Councils share too much.

As it now stands the Councils share is worth precisely NIL and their chances of seeing any of the £400K are remote at best.

Offline Richard Symonds

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #123 on: February 12, 2011, 02:50:03 PM »
So following Rikki Hunt's interview on Points West we should know the outcome of the 'investment' by the end of March.

Just in time for the local elections five weeks later..............
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Offline Chris Watts

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #124 on: February 12, 2011, 02:55:50 PM »
Furthermore - where did they thing the other £1.5 mill was coming from? Investors are going to want equity and that would waterdown the Councils share too much.

I raised this issue back in Dec 2009.This is a question that I put to scrutiny:
10.In the event of Digital City not reaching the market share, will the council further invest tax payers money in order to maintain the 35% share or will further investment from aQovia dilute this share and jeopardize any potential meaningful return into the council coffers?

I received the following answer from the Council Director Business Transformation:

The Council share is not directly related to the value of the loan, therefore there is no need to invest further in order to retain the Council’s share ownership.

I think, from this evasive side stepping answer that did not address the question, it is fair to say that it was a given that SBC would not maintain its share %. If they were looking for further investment to complete the borough wide mesh, then it would have had to have been secured, at least before the end of Jan 2010, if they were to have any chance of completing by April 2010. At this point the council share would have been, at least, halved. This would have been politically embarrassing as it would have made a nonsense of previous press releases.

Try and work out the turnover required for the council to receive a dividend of £700,000 pre-tax after year 2 if the council were only a 20% share holder.

The answer was contemptible and designed to fob me off in the hope that I would creep back under the rock from whence I came and be a good compliant little citizen.
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Offline Des Morgan

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #125 on: February 12, 2011, 04:30:46 PM »
Quote
What I fail to understand is how the Council can reconcile their share of the proposed profits given that the project was going to cost £2million. To reconcile the two figures DC would need around 50% of households to be subscribing to the basic package.


Chris makes the point very well.  All i can add is that i asked Coun Bluh back in December 2009 to explain how sales to 7% of Swindon households in year one was feasible and how that would raise more than £700k of turnover never mind net profit. The sum is easy enough 80k homes x 7% equals 5,600 and say a max of £10 per month equals £56k x 12 months equals £672,000. And that assumes they achieved their entire target 100%.  I know there were 'commercial' targets as well but let's be serious, what serious company would use DC ahead of BT et al?  Safe enough to say with certainty that SBC had not chosen to change!

Oh and before you hear any different - the £700k net profit did NOT include sales of the concept to other authorities such as Bathgate, such extras were the cream on the cake

Offline Geoff Reid

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #126 on: February 12, 2011, 06:28:30 PM »


The numbers quoted by Digital City (UK) Ltd, Doirectors of SBC, leader of the council Rod Bluh or deputy leader of the council, (& director of Digital City), Garry have never added up or made any sense.

Last year I asked a friend of mine to look through my 'publicly records' file.  This file does not include personal statements or opinion, just the cold hard facts as they appear on the public record. 

My friend was not exactly 'enthused' with admiration for SBC officers, Councillors or those individuals involved in arranging 5 different companies around one source of public money.

I should disclose that my friend was the director of acquisitions for a major, (and I mean major), international blue chip company.  I would summarise their comments as follows: "It looks bent".


BTW:  Lamplighters is having a busy weekend with much traffic flying around.  I think, on Monday or Tuesday, we'll be shedding a little more light onto the conjoined subjects of Cllr Perkins' mystery 'Investor' and why Digital City (UK) Ltd suddenly veered 'off plan' shortly after the BluhnderBirds authorised the second loan tranche of £250,000 to be released early.


Kepp watching  :popcorn:

ph1lc

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #127 on: February 12, 2011, 07:25:28 PM »
Furthermore - where did they thing the other £1.5 mill was coming from? Investors are going to want equity and that would waterdown the Councils share too much.



I received the following answer from the Council Director Business Transformation:

The Council share is not directly related to the value of the loan, therefore there is no need to invest further in order to retain the Council’s share ownership.


The Director of Business Transformation is clearly seriously deluded, and has not the faintest idea of the way business is conducted today.

Any further funds for DC can come will either be in the form of debt or equity. No one in their right mind is going to advance DC a loan unless it is backed by a Directors or Shareholders guarantee. I suggest that the only possible guarantee could come from SBC.

The other alternative is to attract an investor by issuing shares - given the sum required and the current value of DC that makes SBC's likely new shareholding virtually nil.

Offline Richard Symonds

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #128 on: February 13, 2011, 12:51:20 PM »

Any further funds for DC can come will either be in the form of debt or equity. No one in their right mind is going to advance DC a loan unless it is backed by a Directors or Shareholders guarantee. I suggest that the only possible guarantee could come from SBC.


That, they would not dare to do or otherwise the roof will come crashing around their heads.
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Offline I Could Do That

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #129 on: February 13, 2011, 01:52:35 PM »
I Hope you're right. All councillors, supporting this WiFiasco, should be publicly named and shamed, so that people can make a better informed, local election, vote. :spin:
Proud to be gone

Offline Outoftowner

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #130 on: August 07, 2011, 12:09:38 PM »
I’ve just carried out my regular review of my favourite companies.

Digital City UK , now with Cllr Perkins and Mustafa Arif as Directors, still haven’t filed their accounts at Companies House. I expect them to be notified of the first “Intention to strike off “the company any day now. (Unless they can fudge some numbers up.)

Now, the two companies that joined SBC in the fantastic Wi-fi esque deal of the century;

Avidity Consulting
DS01    04/08/2011    APPLICATION FOR STRIKING-OFF

I don’t know who made the application, perhaps the sole Director, Laura Hunt.

And of course Aqovia, where Mustafa Arif has been joined by a new director. I’m sure that the dates are coincidental?

Aqovia
AP01    04/08/2011    DIRECTOR APPOINTED MR MICHAEL LEE IACONIS
 
:coffee:
What's it all about?

Offline Mart

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #131 on: August 07, 2011, 04:36:53 PM »
Iaconis?

Didn't he run Chrysler?

Thought not....
Sometimes I think you have to march right in and demand your rights, even if you don’t know what your rights are, or who the person is you’re talking to. Then, on the way out, slam the door.

Offline Richard Symonds

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #132 on: August 07, 2011, 05:35:20 PM »
Avidity Consulting
DS01    04/08/2011    APPLICATION FOR STRIKING-OFF

I don’t know who made the application, perhaps the sole Director, Laura Hunt.


Is this a means by which they can hide the financial truth, PERMANENTLY?

and how long will it be that DC follows suit?

and who will make the application to strike?
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Offline Muggins

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #133 on: August 07, 2011, 07:20:28 PM »
Last night I had evidence about what we are up against, when probably the one of the cleverest, most educated people I know, asked me

"HAS SWINDON GOT IT'S FREE WIFI YET?"

Yes, they do live in Swindon.

Oi! Listen mush. Old eyes, remember? I’ve been around the block a few times. More than a few. They’ve knocked down the blocks I’ve been around and rebuilt them as bigger blocks. Super blocks. And I’ve been round them as well.  The Doctor (Night Terrors)

Offline boothill

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #134 on: August 09, 2011, 09:56:55 PM »
Last night I had evidence about what we are up against, when probably the one of the cleverest, most educated people I know, asked me

"HAS SWINDON GOT IT'S FREE WIFI YET?"

Yes, they do live in Swindon.


SO...Muggins ol' Gal

        Just what IS the latest state of play....does anyone know ????

or is it another a case of the cat poo pong behind the aspidistra pot, that if ignored for long enough will eventually go away ? .... :WTF:
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Offline Chav

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #135 on: August 09, 2011, 10:39:57 PM »
Last night I had evidence about what we are up against, when probably the one of the cleverest, most educated people I know, asked me

"HAS SWINDON GOT IT'S FREE WIFI YET?"  ;D

Yes, they do live in Swindon.
just to clarify. ... It wasnt me ;D
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Offline Muggins

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #136 on: August 10, 2011, 08:45:37 AM »
Yes Chav, I can confirm it was not you!   ;D  ;D 

Although, I must admit that you are rising up the ranks.    O0

We've got quite a clever family haven't we, shame no one told us earlier so that more of us could have taken advantage of our brains.
Oi! Listen mush. Old eyes, remember? I’ve been around the block a few times. More than a few. They’ve knocked down the blocks I’ve been around and rebuilt them as bigger blocks. Super blocks. And I’ve been round them as well.  The Doctor (Night Terrors)

Offline Des Morgan

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #137 on: August 12, 2011, 09:44:51 PM »
Quote
just to clarify. ... It wasnt me


I don't know - after all you were a clever little thing to go out and buy a real electric car - i only had a scalectric :'(

Offline Bogomil

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #138 on: August 13, 2011, 10:01:10 AM »
Quote
just to clarify. ... It wasnt me


I don't know - after all you were a clever little thing to go out and buy a real electric car - i only had a scalectric :'(

Cor blimey Des you must have been from a well modern family as they were only introduced at the Harrogate toy fair in January 1957 and were quite expensive.

Offline Chav

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Re: Jan 31st 2011 - Cllr Perkins WiFi'asco Announcement Delayed Again
« Reply #139 on: August 13, 2011, 10:23:57 AM »
Quote
just to clarify. ... It wasnt me


I don't know - after all you were a clever little thing to go out and buy a real electric car - i only had a scalectric :'(
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"Politics is the skilled use of blunt objects." -- Lester B. Pearson.