This leads me on to why referees arent interviewed after EVERY match - I think that is important too. Managers, coaches and players do it so why is the main man in the middle not able to undertake such interviews. The reason for all this fiasco is one thing - lack of transparency.
That, sir, is an excellent point. I'd love to see this.
But back to stoppage time. I'm pretty sure I read somewhere that, for an average football match, the ball is in play for something like 50 minutes. So that's probably not the way to go. Unless you're going to have half an hour of stoppage time!
Hockey is similar to rugby, in that the umpire stops the clock for things like injuries, setting up certain set pieces (penalties), consulting the other umpire (there are two -- one for each half of the pitch), and giving players a talking to (with or without a card being shown). That's how it works all the way down the league structure in the UK. In higher-level matches, there'll be a separate timekeeper, but I'm pretty sure he just takes direction from the ref. Completely transparent.
The key thing is that it's under the umpire's control. He blows the whistle and signals to stop the clock. There's no concept of "stoppage time", but the umpire always knows how long is left. Again, at higher-level matches, it'll be on a board somewhere.
What we really don't want is to make it like the NFL. I remember tuning into the SuperBowl a few years ago, while flicking channels late one night, to see that there was about 10 minutes left. Decided to watch it. I was still there OVER AN HOUR LATER. Apparently it was the most exciting finish to a game in years. I just wanted to go to bed.