Wednesday have turned down...
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Millwall0
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What would be the difference between having a company like Wonga or having a 'predatory' mortgage lender of the type that proliferated during the mortgage boom?
I hate the loan sharks but are they really any worse than what the likes of Angelo Mozilo did with Countrywide in the US?0 -
Agreekings hill addick said:I would prefer that our club is not associated with these kind of institutions. That is just my view, but I would, genuinely, not wear a football shirt that advertised a company that I don't approve of.
However, I think the suggestion that Hull won't care because they're in the Premier League is a little dramatic. I seriously doubt that the difference between a loan company sponsoring a club and another company doing so is hardly going to make enough difference to change the outcome of a season to much. I know Bournemouth was using the 'sign another player' to get the discussion going, but I think the chances are that we are talking about a few grand a year more, not a few hundred thousand.
For the record though, I would rather have a few hundred thousand a year less if it came to it.
I think the clubs will factor in potential loss of revenue, due to decreased shirt sales and possibly some ticket sales, when considering sponsors. However the losses involved may not be large, and therefore you may well be correct that this may not be the decisive factor when deciding whether to accept or reject a sponsor.kings hill addick said:I don't suppose the sale of a replica shirt (or two) will bother the club to much.
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Easy one for me. Well done Wednesday. I hope we don't end up with one as a sponsor.0
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Good on 'em.0
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A few years back a good deal of sports sponsership was fianced by the tabacco industry, that has been banned, how long before these payday loan companies are not seen fit to sponser sport.0
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How much is our current sponsorship worth? I would be happy for the club to have a charity on their shirts and add 1 pound to every ticket instead0
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Agree with thisShootersHillGuru said:Easy one for me. Well done Wednesday. I hope we don't end up with one as a sponsor.
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Sponsored links:
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sralan said:
So, Wednesday are a club with morowls/blockquote>
They obviously give 2 hoots0 -
I love buying a new football shirt, I'm old enough to know better, and I understand people will raise their eyebrows at 40 plus year guys wearing them , but I wouldn't feel too easy wearing a shirt with a pay day lenders name on it as I had a family member who foolishly bought into it and ended up losing their home, the fall out on the family was horrific , so a no from me I'm afraid.
Could do with Viagra on the front, that'll get us going.0 -
only if you smoke it does.Croydon said:
tobacco killsDansk_Red said:A few years back a good deal of sports sponsership was fianced by the tabacco industry, that has been banned, how long before these payday loan companies are not seen fit to sponser sport.
A payday loan company would not sit easily with me and nor would a tabacco company or a betting company.
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All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?0
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Do you know what APR means?sm said:All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?
Also no one is forced to borrow the money.
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Clearly not.Stu_of_Kunming said:
Do you know what APR means?sm said:All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?
Here's an example for the likes of sm. I jsut went to Wonga's website and used their calculator to work out a £100 loan for 1 week.
Do you know how much interest I would pay? £7.25.
Do you know what the APR is? 4214%
APR is a ridiculous thing to measure on a loan that typically lasts for days.
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No one is forced to borrow money but that is easy to say if you are in a comfortable position. If you're desperate to pay your rent/mortgage or feed your children and have fallen on hard times, it is sometimes easier to borrow even if you know that you really shouldn't.0
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Your right cant compare these companies to banks,wednesday done the right thing,andyes the government could bring in limits on the APR which in some cases is 3.700sm said:All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?
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My GF actually did turn down a pretty good job there for pretty much these reasons.harveys gardener said:If one of these companies offered me a 25% salary increase to work for them I would have no hesitation in turning them down and I hope the club would do likewise.
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Sponsored links:
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Tell that to the estimated 600k people who die every year from secondhand smokeLargeAddick said:
only if you smoke it does.
http://www.bbc.co.uk/news/health-11844169
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Rizzo said:
Clearly not.Stu_of_Kunming said:
Do you know what APR means?sm said:All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?
Here's an example for the likes of sm. I jsut went to Wonga's website and used their calculator to work out a £100 loan for 1 week.
Do you know how much interest I would pay? £7.25.
Do you know what the APR is? 4214%
APR is a ridiculous thing to measure on a loan that typically lasts for days.
Exactly. People waffling on about the ridiculous APR clearly don't get it.0 -
as it 'appens bruv (as Ray Winstone might av it), I am somewhat perplexed at the number of club shirts and amount of TV advertising that advocate gambling. It could be argued that having a punt is possibly going to net you a few quid. Borrowing from W*****er.com is going to cost you large. Every time I see Winstone and his omnipresent FREE SIX FIVE adverts, I just wish I could stick my fingers right up his 'ooterChris_from_Sidcup said:Lincsaddick said:
Seriously? .. I care if that is OK with you. Blackpool and Hull are poor areas and gullible people may take the point of view: 'my beloved clubs thinks that these usurious pawnbrokers and money lenders are good people, I think it might be OK to sell them my telly or to borrow a few quid until pay day'. Judas and his silver come to mindChris_from_Sidcup said:Lincsaddick said:I totally agree with Bournemouth .. I have lost a lot of respect for both Hull and Blackpool for their choice of sponsor
Seriously? You can honestly say it bothers you that much that you've lost respect for them? Who cares. I'm sure Hull fans won't when they play in the premier league next season.
Yes it's ok with me, but i still find it bizarre that a Charlton fan really cares about who sponsors Hull and blackpool. As Henry said they're not illegal. Their terms are laid out so if someone wants to use them, that's their problem. I'd guess that quite a few people in this country are in debt from gambling but no one seems to be bothered about betting companies sponsoring teams or events?0 -
Those companies are tempting thousands of people into financial difficulties, I would never buy clothing with their name on.0
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Yes I do - and I think you will find that in many states in the US and much of Europe they set limits based on annualised percentage rates even lower than the 100% I suggest. The problem with many of the loans is that they do not end up being for one week - and companies like Wonga know this all too well. I would prefer the vermin to be cleared out of such short term lending - so that the field be left to credit unions who have a genuine understanding and concern for those wishing to borrow and are not motivated by greed. Does anyone really think that the situation has been improved by the pay day loan companies?Stu_of_Kunming said:
Do you know what APR means?sm said:All credit to Wednesday. Perhaps the politicians could follow suit by setting a maximum on the interest rate that these parasites can charge? Can an APR in excess of 100% ever be morally justified?
Also no one is forced to borrow the money.
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I do like the argument you would be uneasy wearing a shirt with one of those entirely legal firms as the sponsor.
When the shirt is most probably made by a child in an unsafe factory for about 7p a day.
Funny ol' world
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What are people's moral views on these potential sponsors:
a porn site
a politically biased media company
a retailer with a large low cost Asian manufacturing supply chain
a transport company or airline with massive CO2 issues
a traditional (carbon based) energy provider
People will always object but once and once and once and once again you don't have to use any of the above companies so can take the high-ground that way if you wish.
Now if a slimey, money grabbing, over paid, never needed, under qualified, worse than useless recruitment firm were to sponsor our shirts I imagine most people would lose it all together.
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Acorns?Fanny Fanackapan said:In an ideal world, we'd have "Demelza House" on our shirts ( didn't Villa have a local hospice on theirs a few seasons ago?) but while income is King, that's merely a pipe dream....
I think it was a gesture of good will (for want of better terminology) when the Lerner family took over??
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Like saying wouldnt get the old Woolwich shirt as they repossesed houses after sucking people in to borrow money to finance a property purchase they couldnt afford.
Unless the shirt is sponsored by a nurse that works in a childrens ward, I will certainly not be giving anyone my money !!!
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Do not tell me someone actually buys the nonsense spouted by the payday loan industry. The introduction of the publication of the annual percentage rate for lenders was a benchmark set precisely to inform the consumer of the nature of the fees they were paying. The APR rate applies to the debt whether the rate is for a year or for a day. That you are not paying the rate for a year makes absolutely no difference.
The one day example is ludicrous - how many people are going to borrow for 1 day. The most likely scenario is up to 30days - 30 days at 7.25 a day incurs interest over twice the amount you borrowed in the first place!! in just 1 month.
It is akin to legalised theft from desperate people. Implicit to any "bank" lending proposition is the underlying duty of care of the lender to establish the ability of the borrower to repay the debt and associated fees. Not only do the majority of such companies not fulfil such duty they exploit it by repeatedly rolling up such loans, over and over again meaning the consumer is paying extortionate rates on the extortionate interest they were charged in the first place.
It is the same abdication displayed by modern day bankers in creating securitized debt obligations using the sub prime mortgage market which spawned specimens like "Ameriquest" (they happily sponsored sundry baseball stadia) which wrought financial desperation on so many.
Society has a raft of consumer law to protect its citizenry from abuse, misrepresentation and exploitation. Why anyone should think Payday Loans Companies should be exempt from such control is beyond me. In most countries they are strictly governed. It is perhaps indicative of the changing nature of UK society people are now so apathetic to such exploitation and why current government legislative programmes need to include 60 new consumer protection laws.
That the payday loan industry has been able to emerge from the shadows in which it used to fester is yet another testimony to the litany of the failures of traditional banking industry to the UK society it used to serve.
It is a matter of personal integrity whether you would wish your name linked to such brands. I salute Sheffield Wednesday.
Grapevine 490
