Day: March 17, 2011

Port Vale And The Battle For Burslem

The mornings get warmer and the evenings get longer, but still the main protagonists in Port Vale’s takeover battle argue over how many angels you can fit on the head of a pin. The deadlock is straightforward. Successful local businessman Mo Chaudry wants control. The current board don’t want any individual to have control and especially one, it seems, Chaudry. And Vale’s constitution doesn’t allow for it anyway – which can only change if 75% of Vale’s shareholding votes for it. But in recent weeks, intrigue has piled upon intrigue in the Battle for Burslem – a “web of intrigue,” in fact, for those of you who like your movies American, cheap and made-for-TV. The last time this column cast its jaundiced eye Vale-wards, Chaudry and the board were about to undertake confidential face-to-face talks over Chaudry’s popular six-figure offer to assume control of Vale via a 51% shareholding. Both sides made encouraging grunts about the talks, using emotive language such as “they went OK.” But these talks have taken a back seat to very emotive exchanges. Until late February, the board’s vow of silence in response to Chaudry’s relentless thrashing of their management would have had Trappist monks nodding in approval. Then, from out of nowhere – or Planet Mars, depending on your viewpoint – they produced an eight-page letter to shareholders, explaining how responsible they were for...

Read More

Mungo S03E31

Thursday is here, the day that Mungo beams down once again to your home planet. This week, Sir Roddy Bulbs takes his first ever reasonable decision, only to follow it up with several more dubious ones in a seeming tribute to his all-time favourite monarch. We keep trying to stop Dotmund finding us, but so far it’s not worked. Click for full-size Follow Twohundredpercent on Twitter. It’s the future! Should you be a total masochist, you can also follow...

Read More