The incredible Glazer profit loss

United reveal record profits and yet post a massive loss of £83 million. That to me, is pre credit crunch, voodoo economics time.

David Conn charts the decline of two English football giants at the hands of leveraged buyouts. To me leveraged buyouts are just totally immoral full stop, anybody with half a brain knows that they just allow the buyer to assett strip the institution that has been bought. But for the Premier league to allow it to happen to the two clubs that are undoubtedly world famous is a stunning indictment of that body. Would that have been allowed to happen in Spain to Barca or Real or in Italy to the two Milan's or Juventus and it certainly couldn't have happened in Germany to FC Hollywood Bayern.

Andersred's first thoughts are of the best run club in the country if not the world that is completely wasted in having to pay of that debt. And the worry, which is surely the point the task of trying to compete at the top end of the market whilst constrained in its transfer dealing. David Bond of the BBC writes that he thinks these results means a takeover is a long way off, though he does say that thses results show why the red knights wouldn't pay the £1.5 billion the Glazer's supposedly wanted for United, the club simply isn't worth anywhere near that.

Paul Kelso thinks the Glazer's know what they are doing, they have had luck in the timing of the takeover but he thinks they showed judgement in the gamble of the bond issue. But he admits to the reality that United are simply paying the price of having them as owners. I would say their are a million and one more issues than us just having the privilegde of paying for them as owners. Unless he means when they sell the club, they will walk away with a profit. As events down the east lancs show that depends on what happens on the pitch. As the bond prospectus admitted what would happen if Fergie left or heaven forbid dropped dead tomorrow?

Don't panic, says corporal Gill, the long term structure is sound, yes of course it Jonesy, er Gill.

England under 21's with three United lads in the starting team won again, this time against Romania with Chris Smalling scoring a late winner and all three reds apparently having good games. I didn't see it, sad to say, i like watching the three of them play as they are all going to be a big part of United's future.
Van Der Sar rubbishes recent retirement talk, i must admit i was surprised by the midweek retirement news as from the comments i had read from him in pre-season and over the first couple of months of the season it sounded like he would make a decision at Christmas as usual.

It looks like Wes Brown is in the naughty corner after a pre season row with Fergie. I can't see him letting him go yet, we aren't that well off at the back, though he is pretty obviously nowhere near the player he was.

Differing views on Ed Milibands appointment of Alan Johnson as shadow chancellor. I must admit even though he is supposedly on the more progressive side of the Labour party he has never overly impressed me and i have never understood how the common touch epithet is attached to him. Not that peeople will be bothered about any common touch in a shadow chancellor, what they will want is someone who sounds like he is totally on top of his brief and will be proved right in his judgement. I'm with those who think this could turn out to be a major mistake. 
The Torygraph thinks it is a cunning move by Miliband even if numbers aren't his strong point. George Eaton of the new statesman agrees with that assessment asn says it shows Labour's future economic policy will be closer to Darling's vision than Ed Balls.

The Independent asks if Manchester is the greatest university in this country. As far as discoveries that could and should have been used to have helped our manufacturing and hence export industrie, the answer must be yes. Of course because of the bias in this country towards the city of London and finance we have always missed the boat in exploiting these discoveries.

Manchester airport shares out £100 million dividend, keeping £80 million whilst sharing out £20 million amaongst Greater Manchster councils. I would like to think there would be uproar if that were ever sold off. An example to the rest of the country how a region or city can take a stake in it's own future without always relying on central government.

Ian Macshane of talks about his career as the interviewer charts the upswing in his career since his brilliant portrayal of Al Swearengen in the outstanding Deadwood. I'd love to hear what he really thinks of the Glazer's, if he hates the Murdoch empire as much as is made out in the opening part of the interview.