Duff & Phelps Gets Serious – Now New York HQ Tries To Clean the Mess

Duff & Phelps await the next salvo from the BBC. After last night’s exposure of David Grier apparently agreeing that he and Duff & Phelps knew about the Ticketus deal prior to the Craig Whyte takeover, I imagine there are nervous people in London and Manchester awaiting what is coming next.

And a bad sign perhaps for D&P in the UK comes from the identity of the “spokesman” quoted late last night by the BBC responding to the revelations last night.

As the BBC reported:-

Duff and Phelps spokesman Marty Dauer said: “As we have previously stated, Duff and Phelps maintains that our conduct of the Rangers administration was carried out to the highest professional standards.

“We do not respond to information that is taken out of context, as we believe is the case in the BBC story.

“We welcome the opportunity to review a complete copy of the information that the BBC references in its story.”

Who is Marty Dauer?

He is a long way from being a mere “spokesman”.

He is in fact “a managing director and the chief marketing and communications officer in the firm’s New York office”.

His bio on the D&P website reveals that:-

“He leads efforts to build the company’s brand and communicate internally and externally about the company by focusing on the areas of media and investor relations, advertising and communications. Marty has more than 15 years of global marketing, branding, advertising and communications experience.

“Prior to joining Duff & Phelps, Marty was the senior vice president of marketing and communications at Marsh, the world’s leading risk and insurance brokerage firm. He also served as a senior director in financial communications at Tyco International and in communications and financial leadership roles at General Electric.

“Marty specializes in integrating marketing and communication efforts to maximize impact for organizations globally. He has led numerous efforts to remake corporate brands after significant corporate setbacks and has successfully built integrated global teams to deliver enhanced brand value.

“Marty holds an M.B.A. from the State University of New York at Albany and an M.S. in finance from Siena College. He is a certified GE Six Sigma black belt.”

I do not know what a GE Six Sigma black belt is, but I suspect it has its uses!

So finally, after being battered and ridiculed over the eight months since they appeared on the scene as administrators, the New York HQ of Duff & Phelps is becoming directly involved.

Having only bought over MCR to incorporate it into D&P last year, and no doubt having paid the partners of MCR lots of money for doing so, one can only imagine what HQ is thinking about the operation it has bought. For all of the fine work which MCR undoubtedly have done, and I am sure would continue to do under the D&P banner, the question is whether or not this is a limb which the global D&P would excise.

If D&P had got the all clear from the court and from the Insolvency Practitioners’ Association on the conflict questions, would the New York MD be issuing statements?

I wonder if, in the event of D&P, or partners thereof, being found to have acted inappropriately, there is a “get out” clause for D&P Global. In such an event, MCR might find itself back in business.

Mr Dauer “has led numerous efforts to remake corporate brands after significant corporate setbacks”.

Possibly as a result of the actions of Mr Grier and his colleagues, he might find himself having to do the same for his own organisation!

It is, I think, very significant that New York is now directly involved, and I wonder how often we will hear in future from Messrs Grier, Clark and Whitehouse?

But even Mr Dauer could not deny the claims, instead saying they do not comment on things out of context!

The next Mark Daly report is due in 7 minutes – I’m off to warm up the TV!

 

Posted by Paul McConville

 

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44 Comments

Filed under Administration, Insolvency

44 responses to “Duff & Phelps Gets Serious – Now New York HQ Tries To Clean the Mess

  1. Rich753

    FYI a “GE Six Sigma black belt” is a quality management qualification. Six Sigma was extensively used by General Electric under Jack Welsh, and since they are a top 10 US company something is going right for them and maybe Six Sigma is helping!

    Like all QM systems it has is fanatics and it’s detractors, you pays your money and takes your choice …

  2. mick

    @paul great read martys the main man and might have to ampute the uk branch to save face for the rest of the companys body now theres releasing tax mistomeanors on the beeb or he could sack them ,martys been getting lots of emails from scotland to and is well aware of the dramas

  3. ecojon

    I think HMRC is going to use this whole thing to slaughter some of the fat cats to frighten the sh*t out of the rest. It’s hard to know where this is going to stop and once the D&P punters are pulled in by Strathpol I wonder who they will name and how far back it goes.

    It’s like 10 blue bottles sitting on the wall just waiting to be picked-off. The one good thing out of it is I can’t see how any flotation can go ahead so it will save the Bears some cash and maybe they can spend it with a new owner. I’m sure Craigie will let Ashley have it pretty cheaply 🙂

    Whoever gets jailed will need to make sure they are sent far away as I don’t fancy their chances dubbed up in Scotland. Turks & Caicos might be a good bet 🙂 Don’t know though there might be a Rangers or Celtic Supporters Club out there.

    I know they have a Provo Golf Club and I’m sure that Leggo’s reported sighting of Jack Irvine, the Media House PR main man, allegedly on holiday recently in the Turks & Caicos Island paradise would not have included a visit to the golf club named 🙂

  4. ecojon

    Well that’s it Lord Hodge will need to order everything unpicked – It’s impossible to see where else this can go. Daly should get UK Investigative Journalist of the Year for this. Absolutely brilliant reporting and fearless..

  5. Paul

    Where does this leave Green with regards to all this? Did he legally get Rangers?

  6. ecojon

    Undernoted is today’s response to last night. I don’t expect any further response following the latest programme as I think the London office is closed permanently and the US Tag Team need to get back to New York to issue a statement 🙂

    As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story.

    Marty Dauer
    Duff & Phelps Spokesperson

    Richard Merrin
    Managing Director

  7. mick

    a was just looking at marty last company marsh insurance is in his blood and he will be well aware of the liabilitys here with grier so its a easy call sack the rfc d&ps team and save face and restore integrity ,also grier has spoiled scotlands reputation as in the future some bright young spark might apply to join there team and they might say no look what happened the last time its sad and evident its damaging our reputation abroad

  8. ecojon

    @ Paul

    I have to say mon that I don’t think the TV needed any help to warm-up 🙂

  9. mick

    @ecojon it was a 2 hour tape omg what else is there lol

  10. mick

    http://www.mediahouse.co.uk/ramsay.htm

    a wee view of media house for us to refresh who ramsay is

    • ecojon

      @ mick

      I see he’s an expert in crisis management – I’m wondering then why D&P have got this London company handling things now that a crisis has been created?

    • 100bjd

      Mick,
      It is certainly going to test Ramsay’s stated “crisis management” skills! There is obviously much more to come as well. Charles was supposed to be on Talksport today although I hear he was a no show. Unbelievable for a man who likes to be heard! My money is on an offsite crisis meeting taking precedence to Gray and Keys. Grier is bang to rights and he will be singing soon. You cannot pull this type of deal off without a coterie of professional advisers who will not be sleeping well tonight. This is becoming Scotland’s watergate.

    • 100bjd

      Mick,
      It is certainly going to test Ramsay’s stated “crisis management” skills! There is obviously much more to come as well. Charles was supposed to be on Talksport today although I hear he was a no show. Unbelievable for a man who likes to be heard! My money is on an offsite crisis meeting taking precedence to Gray and Keys. Grier is bang to rights and he will be singing soon. You cannot pull this type of deal off without a coterie of professional advisers who will not be sleeping well tonight. This is becoming Scotland’s watergate. The Americans will really stir things up as they cant afford all this to screw their global ambitions.

      • ecojon

        @ 100bjd

        When the Yanks act it will not be pretty – they might have been all nicey when they were buying the company but I think the ex-MCR punters are about to see the fangs as the American in London goes for the jugular 🙂

  11. ecojon

    @ mick

    What fascinates me is that Grier phoned Ramsey Smith at Media House PR in front of Whyte – how else could Whyte have taped him unless he put a radio ‘bug’ on him – and picked it up from outside. He could even have bugged underneath the table and walked away to give him privacy and lull him into a false sense of security.

    Maybe the rest of the tape isn’t Grier & Whyte – it might be Grier and the other people he was involved with. Meanwhile craigie sits in his car recording it all. Priceless!

    Well maybe the MSM won’t be interested in this latest story but I’m sure the international press will be and they’ve got lots of recent coverage of Rangers in pics and film to add a bit of colour to their reports. Wonder what the Wall Street Jiurnal will do with it?

    Mick you’ll need to contact craigie and see if he’ll cough and give you an exclusive on Piegate – I’m serious btw 🙂

    • mick

      well mark d did email and said he liked the site and piegate and he said he would hand it over to his friends in the office that would be great the piegate on the beeb brought to there attention by the man that cant string a sentance together with out doing 3 typo errors lol pmsl mark d is well cool bafta for this hopefully

    • mick

      they put 500,000 down to cleaning on final report there well at it they must have thought with the bears on side they could do what they want how wrong they were ,there liabile if a was small share holder or criditor a would be right down a lawyer

  12. Nice to see some of “our obsessive bampot theories” are coming home to roost, maybe the bears will actually take the blue glasses off and start to realise that with the best intentions we will continue to raise the issues that matter and keep them firmly in focus.

    Watch this space, the puppet master must be getting a little wobbly now.

  13. Dhougal

    Great piece again Paul ,thank god they dont listen to you and the others on here and CNN because if they did they may have survived( as RFC &TRFC) .The due diligence you and the rest have done for THEM ! is tantamount to amazing and all ye get is abuse in return .I’d like to propose on Sat. all fans at Paradise to a wee zombie dance to the tune of ”THRILLER” (3 STOMPS O THE FEET ONE CLAP O THE HANDS) …………..it is Halloween after all !! shreeeek!!!

  14. mick

    @dhougal heres the bampottery hallowheen special brought to us by the worlds best video maker and singer the living legend billy nowell

  15. JohnBhoy

    Duff and Phelps are Fucked. Charlie is mute. SDM has gone underground. Jabba, that sorry excuse for a journalist, continues to jab his fat finger in the face of decency. He’ll soon be telling us how tiresome he finds all this talk of greed, theft, deceit and corruption. If ever there was a case for extraordinary rendition.

    Mark Daly, you are a man of integrity and a lesson to others on how to conduct oneself in pursuit of the truth. Thank you.

    • mick

      @johnbhoy a we vid of bampottery about jabba mark d gets a mention

    • ecojon

      @ JohnBhoy

      Funny you should mention rendition but apparently the yanks were trying to trace Black’s of Greenock to make a big orange tent – but it’ll be Jabba’s Guantanamo kit – sally’s donated a pair o’ tyre rubber brown brogues. Still he’ll be able to wave at Margarita in Turks & Caicos as it ain’t that faraway 🙂

  16. Paul

    I am lost in admiration and as an earlier poster said, you and others should be thanked by Rangers supporters and by the MSM for doing their job.

    Now an appeal, I had to go out of the house (not that I do so often) and missed tonights TV bit. Can someone please supply a link before I go insane.

  17. I’ve now got it, thanks Mick.

  18. Budweiser

    I missed the latest bbc news. Can anybody give me a quick synopsis? I can’t see anything on the bbc website . Thanks.

  19. Budweiser

    @ mick
    thanks mick

  20. mick

    the beeb have not put the video up like last night this might be held back and included in a other 1 heres hoping

  21. I am shocked but not surprised. I also note the level of shading and texturing (I can talk this rubbish too) on the difference between acquisition funding and working capital funding. I just hope it all comes in time to stop me selling my home, my children and everything I own to buy shares.

  22. dan

    billy nowell, your are well good. You have talent. But, at the risk of sounding self-congratulatory, or even smug. or even as an inverted racist, isn’t creativity a trait of the Tim—as witness Becket, Joyce. Flan, etc? No hatred, no triumphalism, just wit and intellect. That’s what’s good about this site.

    • SouthernExile

      Dan

      Well sam was actually a prod, as were those other great Irishmen william butler yeats and charles stewart parnell.

      Best to keep religion out of it methinks but celebrate the genius of these two islands.

  23. COYBIG

    @100bjd

    “Charles was supposed to be on Talksport today although I hear he was a no show. Unbelievable for a man who likes to be heard! My money is on an offsite crisis meeting taking precedence to Gray and Keys.”

    Charlie and Imran DID go to Talksport. But 5 minutes before their interview, Charlie got a phone call, and was told there was another recording, being released tonight.

    So, when the PA came to take them to the studio, they weren’t there. He thought they might be in the toilet, so went to check. And this is what greeted him:

  24. carl31

    “Marty holds an M.B.A. from the State University of New York at Albany and an M.S. in finance from Siena College. He is a certified GE Six Sigma black belt.”

    My brother’s seatbelt and my mate’s a snakebelt and I’m a fanbelt but we keep it quiet…

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