A hotelier was building a hotel somewhere on the Med, and the roof got blown off by terrorists.
The hotelier rang up the insurers (who are also his bankers and equity financier) and says "can I have the money for a new roof please, Al Qaeda blew the old one off, I think the premium covers me for 75 million". The insurer confirms that his re-insurer will pay up, no problems.
The insurer then asks "is the decor and furniture ok?" And the hotelier replies "It wasn't there, we're about to install it".
The insurer, unbeknown to the hotelier, has a friend in the furniture clearance industry. Enthusiastically the insurer says "ok, well how about we give you even nicer furniture and even better stuff for the decorations, do everything apart from the top floor now, so the rain doesn't affect it".
So the hotelier shrugs his shoulders and say "hmm ok, I was happy with the contents, but I just wanted to sort out the roof as it'll be a bit of a worry when I open up and when the Summer's over and it starts raining".
The insurer pats the hotelier on the back and says "Oh dont worry about the roof, that'll take a little while. After all, I can give you some *lovely* designer lampshades and beds to go with this decor I've found. And my word is my bond, no need for me to confirm it in writing".
Slightly bemused, the hotelier nods his head, and waits for the cheque for the new roof to appear. And waits. And waits. And waits. He doesn't hear a word from his insurer. Other than on Twitter reacting to the discussions in the media. "Get a new roof
" was the post from a giggling insurer who was over in the USA all Summer.
Eventually Summer's over, and the hotelier goes and visits the insurer. The hotelier asks "why haven't you sent my cheque for the roof, I can't have Winter guests staying in a hotel that hasn't got a roof. I can't even open the hotel. Its a necessity, NOT luxury. What is this nonsense".
And the insurer turns round and says "Come come now Mr Hotelier, look at all this lovely furniture I sent you, its so much better than what you had bought yourself. And besides, have you LOOKED how much roofs cost these days, I couldn't find a single special offer for them. I think you're being rather unreasonable after you've got ALL those beds and bits of furniture.Besides, some of it is retro and could be worth quite a packet in a few yrs time".
The insurer continues,
"Anyway, I could use that insurance payout money to pay down your loan financing with me. Now I can use that money for something else I'm doing. Over in Boston, as it happens".
Completely shocked, the hotellier says "But you have to understand, I need a roof to make a living. You can't have a hotel without a roof, its impossible".
The insurer turns to the hotelier and says "Come come now, Mr Hotelier. Stop being so dramatic. Stop being so negative, how will others believe in you, if you don't believe in the hotel yourself. How will visitors book with that attitude?"
The insurer continues, "You've got some LOVELY decor and furniture, ESPECIALLY the stuff I gave you. The walls, the windows, the kitchens, all the rest of it look great. I'm a very busy man, please don't hassle me again over that damned roof. You're being rather selfish I think. After all, I think I've been very generous, AND I've even paid down your debt to me with the insurance money".
The hotelier shakes his head in disbelief and his insurer(and ofcourse banker) continues.
" And besides Mr Hotelier, I want to see some income before then, otherwise I might have to look at liquidating some of your assets if you fail to give me a good return by the year end.
I'm a very busy man, please don't hassle me again over that damned roof. I might be able to come over from Boston in January. Maybe if I can get a good deal, we can get you a nice shiny new roof". And he pats the hotelier on the head and departs for his flight to Boston.
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This ie like the hotelier is how I'd feel if I was Brendan Rodgers.