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Latest on Birmingham City finanical disclosure – Birmingham Mail

May 182012

Birmingham City’s accounts are now not likely to be disclosed until the end of the month.

Parent company Birmingham International Holdings Limited were expected to release figures to the Hong Kong Stock Exchange by close of business today.

But sources have indicated to the Birmingham Mail that a couple of minor issues still need to be cleared up, causing the slight delay.

Blues’ acting chairman Peter Pannu revealed on the night of the Championship play-off semi-final second leg that BIHL had told him the accounts ‘should be published very soon and in any event before the play-off final’, which takes place tomorrow.

Supporters were naturally relieved to hear that, at last, Blues were to disclose the state of their finances for the year ending June, 2011.

The accounts had already been delayed on three occasions, and this caused the Football League to slap a transfer embargo on Blues as they failed to file them by the required March 1 date, as per their regulations.

Once the accounts are published, the embargo should be lifted a few days afterwards once the League are satisfied.

The summer transfer window opens on July 1, although clubs do arrange deals once the season has finished to come into effect formally on that date.

It is understood the accounts will show a hefty loss as Blues brought in the likes of Nikola Zigic, Ben Foster, Curtis Davies and spent heavily on wages for Aleksandr Hleb, David Bentley, Matt Derbyshire and Obafemi Martins, among others, in the period covered.

And Pannu admitted in his programme notes for the Blackpool match ‘let us not expect a very rosy picture’.

But he also stressed they were not as bad people were portraying ‘based on rumours’ and that the club was ‘not close to bankruptcy’.

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Birmingham City Council extends moratorium on new payday loan businesses – al.com (blog)

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May 172012

BIRMINGHAM, Alabama — Birmingham’s moratorium on new payday loan, check cashing and title pawn businesses was extended as city leaders decide how to regulate the industry’s proliferation along busy streets.

The City Council approved extending the original six-month halt, which gives it until at least October to approve new rules.

“I am very elated that my colleagues saw fit to address this massive problem that has taken advantage of the underserved in our community,” said Councilwoman Lashunda Scales, chairwoman of the council’s Economic Development Committee, who proposed the original ordinance. “The time extension is to make certain that all i’s are dotted and t’s are crossed so that we will not have to revisit this issue again.”

The council in December established the moratorium and extended those restrictions without discussion Tuesday.

The ordinance approved in December included an amendment stating that that city’s economic development division and its planning and zoning officials would work during the moratorium on ways to curb “clustering” once the moratorium was lifted.

Scales has been a strong critic of the payday lending industry, saying Birmingham has too many of the businesses, which she said prey on vulnerable residents and lock them into a cycle of debt. In addition, Scales and others said too many payday lending businesses together discourage other businesses from locating in the areas where they operate.

Councilwoman Valerie Abbott, chairwoman of the Planning and Zoning Committee, said the extra time is enough to present suggestions, including spacing. The original moratorium was set to expire in June.

“What we’ve been doing is working on a possible modification to the zoning ordinance that would deal mostly with the concentration of these business in certain parts of town and the impact it would have,” said Abbott, whose district includes a number of payday lending businesses along Greensprings Highway. “We got down to the wire and still didn’t have something we felt comfortable taking to the entire council.”

Payday lending industry officials have consistently defended their business, saying they provide a necessary service that is unfairly characterized.

“We aren’t surprised by the extension,” said Max Wood, President of Borrow Smart Alabama, the industry’s trade group. “We are, however, disappointed that the council has not made any attempt to work with the industry to identify a long-term solution to what they believe is a problem. We hope that the City Council will take the next few months to truly review potential solutions working with everyone at the table – including the industry.”

Birmingham’s ordinance was modeled after one passed last summer in Midfield that limited the number of payday lending institutions to the current 12. In addition, Center Point in March renewed its long-standing moratorium on payday lending and title loan businesses.

Birmingham’s moratorium also generated more interest in the issue. The new federal Consumer Financial Protection Bureau in January chose Birmingham to hold its first field hearing on payday lending. Bureau officials cited the council’s moratorium along with Alabama’s ranking among states with the most payday lenders.

Councilwoman Kim Rafferty later called a meeting to form Bank on Birmingham, a clearinghouse of available institutions willing to provide services and insight to those now using high-interest and high-fee payday lending and check cashing businesses.

“As a local government it would be wise for us to continue to work with the federal government and the state Legislature to protect our citizens from predatory lending while forcing banking institutions to become more flexible in their lending practices,” Scales said.

Wood said it is difficult to measure the impact of the city’s moratorium but said it has helped some businesses by limiting competition and hurt others by driving up rental costs. “We certainly don’t believe it has served to help Birmingham recruit other types of businesses as they said it would,” he said.

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Birmingham City fans outline their hopes and demands for the future – Birmingham Mail

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May 152012

Birmingham City fans have on Twitter outlined their main hopes and demands for the summer.

Our chief sports writer Colin Tattum asked the what they would like to see happen at St Andrews after this season ended in a near miss in the Championship play-offs.

The replies came through thick and fast. Here is a selection:

@dowskiebcfc Hoping for stability at #bcfc finacially, keep Chris Hughton, carry on playing good football and bring a few new faces in.

@b1c8f7c5 New owners a must. Then give Chris Hughton a new three-year contract and some money to spend. #blues #bcfc

@dean_kavanagh Board must keep Hughton. He seems like a man of character and has a job to finish at #bcfc, think he’ll stay with provisos.

@almajir If the board can’t keep Pannu’s promises from Wednesday of delivering the accounts this week they should go.

@melcastle69 keeping hold of Chris Hughton is a must- invest in a good/right manager and the team will follow.

@Roberto_1875 Simple…. Hughton to stay. Anything else is a bonus.

@robertwildey Blues need to keep hold of Hughton, that would be bigger than any new signing.

@ashcolgan23 CH must stay & be able to builD on good squad we’ve got & not lose top players like Davies. Maybe bring Townsend back in.

@mike1983jabbari I’d love Hughton to stay but would not go potty if he left. His record against the better sides is questionable & should be top 6.

@BCFCJON1875 New owners that have a genuine long term plan for the club. New contract for Chris Hughton. Keep the likes of Burke & Davies!

@ClinicallyMad Even with no money it shows what a great coach Hughton is, he is vital to club, ball winning midfielder and keep Burke, Davies.

@jon72bcfc Very simple, support CH and let him finish the job. Less games next season will help too. #kro

@ nealbcfc hope for a much quieter summer than last – tie CH down, no major outgoings and a few solid acquisitions to improve.

@paulinghana Keep Chris Hughton, new owners, avoid administration, get rid of Zigic, keep as much of the rest of the squad as possible.

@bcfcjames Give CH money to add to squad. Let him keep best players for another season and offer CH and staff improved deals.

@jacobchatwin Need to keep Murphy, promote Butland to no1, sign some experienced players and most importantly keep CH! #bcfc

@arch_stanton67 @colintattum I hope( yourself excepted) that our local paper will stop printing stories telling our manager he should quit.

@9_Hendo The embargo needs lifting or we’ll lose players & can’t replace. 2. Ideally keep Hughton and spine of team (CD, CB, KF, MK)

@braderzzzbcfc Keep hold of CH, the back 4 and Burke, need a decent striker along with King.

@molliesaunt Keeping CH as manager has to be key, and new owners would be nice!!

@LeeAHinton Hope the spine of team and Hughton stay. Hopefully we can kick on next season and make a push for the Premier League.

@stu_mez Priorities: keep our manager. Keep all our players except Ben Foster whom we should cash in on. Looking fwd to next season.

@ReissSadler I really hope Hughton stays and our finances sorted, really need to keep on a few loanees such as Myhill and N’Daw.

@adamneaves Personally, i just want some stability to the club. Maybe new owners and also keeping the players at the club is crucial.

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Man found stabbed in Birmingham city centre – BBC News

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May 142012

Thorp Street was sealed off after the incident

A murder investigation has been launched after a man was found stabbed in a street in Birmingham city centre.

The man was found in Thorp Street, near the Hippodrome theatre, late on Saturday evening, police said.

The man, who has not yet been identified but is believed to be aged 46, was taken to hospital but died a short time later.

A post-mortem examination is yet to take place. Thorp Street was cordoned off for forensic examination.

Det Ch Insp Wayne Jones, who is leading the investigation, appealed for a taxi passenger to contact police again.

“We are unclear of the motive at this stage and are keeping an open mind as to how the man has come by his injuries,” he said.

“We have already spoken to a number of witnesses one of whom was a taxi driver, we are also keen to trace and speak to two further potential witnesses.

“The first is a woman who we believe was a passenger in the taxi and the second is an individual, who we believe to be a man, who was in the street at the time of the attack.”

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Birmingham City to talk to Chris Hughton about staying at St Andrew’s – The Guardian

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May 132012

Chris Hughton at Birmingham City's play-off against Blackpool

Chris Hughton tries to rally his Birmingham City players during their unsuccessful play-off second leg against Blackpool. Photograph: Ed Sykes/Action Images

Birmingham City are bracing themselves for a battle to hold on to Chris Hughton after defeat in the play-offs opened the door for West Bromwich Albion to pursue the Championship club’s manager as a replacement for Roy Hodgson.

Hughton refused to discuss his future in the wake of the 2-2 second leg draw with Blackpool at St Andrews on Tuesday night that condemned Birmingham to a 3-2 aggregate defeat and ended hopes of an immediate return to the Premier League. The Birmingham manager is, however, keen to hold talks with Peter Pannu, the club’s vice-president, to gain a clear understanding of the finances at St Andrews and also to establish what sort of squad he would have at his disposal for a second season in the Championship.

Birmingham’s financial position has been clouded in uncertainty for some time and it will take more than Pannu’s programme notes for the Blackpool game to convince supporters that there is not genuine reason to be concerned. Birmingham International Holdings, the club’s parent company, announced last month that it had failed for a fourth time to file accounts for the year to 30 June 2011, while Carson Yeung, the single largest shareholder, faces money laundering charges in Hong Kong. Yeung denies wrongdoing.

Pannu sought to play down the significance of the delay in filing the accounts and insisted the club are “not close to bankruptcy”. He also claimed there could be fresh investment on the horizon. “I have been informed that once the accounts are finalised, an investor has been identified,” Pannu said.

He added: “A club of our reputation, size, and may I now say, our achievements, would attract interest. I have in my own ways impressed upon the members of the parent group’s board that should a suitable party come along, they should give it serious consideration.”

The situation at The Hawthorns could not be more different and for that reason is likely to appeal to Hughton should he be approached about taking over from the new England manager. Albion have enjoyed decent back-to-back seasons in the Premier League and are on a stable financial footing. They also are in the market for a head coach, as opposed to a conventional manager, which would suit Hughton, who has a hands-on approach on the training ground.

Gus Poyet, whose Brighton & Hove Albion side finished four points off the Championship play-offs, is also on Albion’s radar, although his lack of Premier League managerial experience could well count against him.

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Birmingham City: Curtis Davies on the key moments in the play-offs – Birmingham Mail

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May 132012

Birmingham City defender Curtis Davies

CURTIS Davies reckons Blues’ comeback against Blackpool might not have been left late enough.

Odd as though it sounds, by pulling back the second leg of the play-off semi-final to 2-2 by the 73rd minute – Davies powering in the equaliser with a header – it worked against Blues.

Nikola Zigic had given Blues a lifeline with a 64th-minute goal and Blackpool were teetering under intense, swarming pressure.

Reflecting on Wednesday’s drama, Davies said: “We had to let them get two goals to kickstart ourselves, which was a shame.

“I’m not saying we didn’t start well in the first half, we did. We probably had the better territory in their box than they did in ours.

“They hit us with a sucker-punch right on half-time, again. Last time, at their place, you could say they deserved it on the balance of play. This time I thought we were the better team, in the first half particularly.

“Going into the second half we didn’t come out with our heads down, we started well again, but Matty Phillips pops up and gets another one.

“We were disappointed in the way we conceded them both.

‘‘The second one, if you’re not sure about the line, follow the man in. We didn’t do that. But to pick holes now isn’t the right thing to do.

“From there, 2-0 down, it was going to be gung-ho. We managed to get a goal quite early, then another, and we still had enough time after that.

“If anything, getting the second goal with a lot of time left [17 minutes] it took the sting out of us a little bit because we weren’t going gung-ho and, if anything, when it was like that we were having our success.

“We sort of took our foot of the gas and that gave them a bit of respite and time on the ball.”

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Birmingham City: Team spirit is a big strength for us – Curtis Davies – Birmingham Mail

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May 122012

Curtis Davies. Picture PA Wire.

CURTIS Davies has pinpointed the togetherness at Birmingham City as major factor in their valiant season just ended – and important for the next one to come.

Manager Chris Hughton and Blues players were given an emotional standing ovation when the final whistle blew in the second leg of the Championship play-off semi-final against Blackpool.

Blues had fought back to 2-2 on the night in the second leg but went out 3-2 on aggregate, their mammoth campaign coming to a heartbreaking end.

“It was massive,” said Davies. “It would have been easy for the fans to have gone home at 2-0 and just watched the rest on television or something.

“But they stuck behind us and they were nearly treated to something special.

“For them to stay there to the end and clap us off the pitch like they did was amazing. We were as gutted for them as we were for ourselves.

“I don’t think the fans judged us on that game alone, they’ve seen the bigger picture.

“We’ve had a 62-game season. And for me the main thing is that the fans, the manager, the coaching staff and

the playing staff have all been together, all the way through this whole season.

“That’s the biggest thing for this club to get us in the right direction after the summer we had.

“We would rather have preferred to have ended on a high but I might look back on this in two or three weeks and say it hasn’t been a bad season at all.”

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Birmingham City expect new investment, says Peter Pannu – BBC Sport

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May 112012

9 May 2012 Last updated at 19:48

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By Ged Scott BBC Midlands Sport

Birmingham City vice-president Peter Pannu insists the Championship club are “not close to bankruptcy” and could be attracting new investment.

Pannu used the club programme for Wednesday’s play-off semi-final second leg to break the silence at St Andrews and paint a more positive picture.

Blues are yet to submit accounts from last season’s relegation campaign.

But Pannu said: “I have been informed that once the accounts are finalised, an investor has been identified.”

He added: “A club of our reputation, size, and may I now say, our achievements, would attract interest.

“I have in my own ways impressed upon the members of the parent group’s board that should a suitable party come along, they should give it serious consideration.”

It was announced last month that Blues’ holding company had failed for a fourth time to file the club’s financial results for the year to 30 June, 2011.

They are not aided by the fact club president Carson Yeung, their largest single shareholder with a 26.3% stake, who took control in 2009, is in Hong Kong facing money-laundering charges.

But, despite a lot of gloomy press reports going into the Championship play-off semi-final against Blackpool, amid speculation manager Chris Hughton will leave this summer for neighbours West Bromwich Albion, Pannu insists there is still cause for optimism.

“Let’s not expect a rosy picture on the accounts but again it is not as bad as people seem to portray it. We’re not close to bankruptcy,” added Pannu.

“Many reporters had, without foundation, given the yet-to-be-released accounts credence and had gone on to spread a false picture of the club’s true financial position.

“I am working very closely with our colleagues in Hong Kong to ensure the group’s accounts are filed as soon as possible.

“I am also attending to many of Carson’s legal matters with his legal team.

“The club’s accounts had been prepared quite some time back and passed to Hong Kong but, due to some technical wordings that needed to be ironed out between the group and the club’s auditors, these caused some delays.

“The consolidated accounts should be published very soon and, in any event, before the play-off final.”

Pannu admits being relegated from the Premier League under the command of Alex McLeish last May has not helped their financial situation – but insists the truth is a long way from some of the worst-case scenarios currently being offered.

“What is the truth is we were short of the funds spent on players and wages while we were in the Premier League, which Carson promised to cover but it did not quite materialise due to his predicament and the freezing of his funds, for which I’m sure he regrets and feels sorry about as it was beyond his control.

“We also lost a substantial source of income from the Premier League following relegation.

“You may not believe me when I say this but Carson Yeung does care about the club and he would have given us the money he promised if his funds were not frozen.”

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Birmingham City 2-2 Blackpool (Agg 2-3): Holloway’s men hold off comeback to … – Goal.com

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May 102012

Blackpool are one win away from a return to the Premier League after edging their way into the Championship play-off final with a 3-2 aggregate victory over Birmingham City.

Stephen Dobbie struck for Ian Holloway’s side on the stroke of half-time before Matt Phillips looked to have put the tie beyond Birmingham with a goal just after the restart. But Chris Hughton’s charges rallied back through Nikola Zigic and Curtis Davies to set up a tense finish, however, Blackpool held their nerve to secure a 2-2 draw on the night, enough to ensure they will face West Ham at Wembley on May 19.

Blackpool may have come away from the first leg at Bloomfield Road disappointed that their advantage failed to extend beyond Davies’ own goal, and Holloway’s men could have doubled their lead within five minutes as Thomas Ince saw a strong case for a penalty turned down by referee Chris Foy after being tugged in the box by David Murphy.

The frantic pace from the outset saw chances created for both teams. Marlon King came closest for Birmingham as his volley into the ground from Murphy’s cross stuck the crossbar, while Ince’s indecisiveness in front of goal saw a strong shooting opportunity spurned for the visitors.

Blackpool begun to exert their authority on the fixture after 20 minutes and, following a string of passes, Ince was found on the left flank and the midfielder crossed to Gary Taylor-Fletcher who was unmarked at the back post but failed to hit the target with a tame header.

But in a similar fashion to the first leg, Blackpool took the lead moments before the half-time whistle. Birmingham failed to properly clear Ince’s corner and while Alex Baptiste’s ambitious overhead kick was blocked, the ball fell into the path of Dobbie, who swept the ball low between the post and goalkeeper Colin Doyle.

Blackpool picked up where they left off at the restart and found themselves in a comfortable position inside three minutes as Matt Phillips pounced on Stephen Crainey’s lofted through pass to strike from a narrow angle past Doyle.

But just as Blackpool appeared in command, Holloway’s men were architects of their own downfall as they allowed Birmingham a foothold back into the tie. The visitors failed to clear a loose punt down their right flank and as play shifted towards the middle, Chris Burke threaded a pass through to Zigic, who had narrowly beaten the offside trap, and the Serb cooly slotted past Matt Gilks.

King could have doubled Birmingham’s advantage six minutes later after finding space in the box, but the striker’s close-range shot was superbly saved low down by Gilks.

But Birmingham were not to be denied a second and Blackpool’s defence was breached for a second time as Davies powered his header from Jordon Mutch’s corner past Gilks.

The hosts continued to probe Blackpool but Holloway’s men had become wise to their defensive negligence by that time and were able to hold out against any further onslaught from Birmingham to set up a date with West Ham.

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Birmingham City Schools Superintendent asks for a tax increase to help district – Alabama’s13.com

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May 082012

BIRMINGHAM, Ala. –

The Birmingham City School System hasn’t finalized its budget. Superintendent Craig Witherspoon said depending on what happens the district may have to make some tough choices. However, he said one choice that is not tough, asking for more so students can be offered the best.

“Being able to offer more fine arts in our school or to offer more foreign language or what are we doing around those areas that parents and our community said they wanted to see more of, and if we do that we will certainly need additional funding to make that happen,” Witherspoon said.

He is asking to raise the tax rate, and that could add $ 9 million to the school system, annually.

Here is the breakdown:

– The owner of a $50,000 home would pay approximately $15 more per year.

– The owner of a $100,000 house would pay around $30 more dollars per year.

One of parents Alabama’s 13 Digital Journalist Kalisha Whitman spoke with said if it benefits the schools, she is willing to pay extra. She said she sees it as an investment in the future.

Tisha Dale, a parent said, “We get out of our schools what we put into it, and we need the funding so it’s important that sometimes we have to make those sacrifices.”

All talks are preliminary at this point; however, Superintendent Witherspoon said no matter what happens the main focus will be on teaching and learning.

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