Reply to: Kick off January 13th ... latest press release

[Cyberman]

I'm counting the minutes until tomorrow ......

[Cyberman]

A REPORT FROM TODAY... I wonder how many of these Northerners will still vote Labour


'Disgruntled Northern Rock shareholders staged a series of demonstrations to demand a "fair deal" under the Government's compensation scheme.

The protests were mounted by small shareholders ahead of a High Court judicial review into the level of compensation which starts tomorrow.

Investors claim they will receive little or no money back for their shares.

They argue the terms of the Government-commissioned valuation of shares is in breach of the European Convention on Human Rights.

Demonstrators, mostly from the north-east, formed queues outside central London branches of the bank in a reminder of the long lines of people who queued to withdraw their money from the troubled bank in September 2007.

A bus load of angry investors, representing tens of thousands of private shareholders, travelled to three branches in central London, waving placards which read: "Don't Let The Government Rig The Valuation!", "A Fair Deal For Shareholders" and "We Deserve A Real And Independent Valuation".

Dennis Grainger, 62, from Cramlington in Northumberland, is the lead claimant for the small shareholders and leader of the North East Action Group.

He said the "small people" were being "sacrificed" by the Government.

"They are not speculators and they are not playing the markets, but they are older people who are using their dividend income to supplement their meagre pensions.

"In some cases the shares were a nest egg for sons and daughters, families and grandchildren, and when you take that away from them, the sad thing is they are now worried they are going to be a burden on their children." '

[Cyberman]

It would have gone to the wall however and you would have lost your shares anyway?

In the climate prevalent at the time the only person willing to buy it was told to eff off by the then shareholders anyway, so I think either way you were doomed!

The Tories would have realised that it was a liquidity issue and that the Rock was a profit-making company given that liquidity. As history has shown over the last year, all banks have had problems accessing their 'raw materials'.

There was a management buyout bid on the table and also an American entrepreneur offered Billions(he withdrew when HMG said that the loan had to be repaid by 2010 but since then no such restrictions have been placed on any other banks that have borrowed from HMG/BofE !!), so you are very wrong that Branson was the only offer. HMG stole the Rock because they foresaw Branson making Billions out of the deal.

[Solidec]

BTW

After the amount of money the government has poured into NR, as diluted share value would go, what would your shares have been devalued to if it was a pure share stake? Based on the price of shares on the day of nationalisation?

[Solidec]

The Rock would never have been nationalised under the Tories, that's for sure.

It would have gone to the wall however and you would have lost your shares anyway?

In the climate prevalent at the time the only person willing to buy it was told to eff off by the then shareholders anyway, so I think either way you were doomed!

[Cyberman]

Let us know how this gets on.

With pleasure Taz, and thanks for showing interest.
Other people who invest in shares that are not interested in the outcome of the Rock really should not invest in shares, because they will be hypocrites if they expect any support when a socialist HMG steals their holdings.
The Rock would never have been nationalised under the Tories, that's for sure.

[Clippy]

Bring it on !!!

http://www.uksa.org.uk/UKSA_Press075...ial_Review.pdf

From the UKSA press release:

UKSA will be holding a public demonstration outside the High Court in the Strand at 12.00am on the opening day of the hearing.

I was actually at the High Court around about that time as I work in the area and had popped out for lunch.

Anyone want to guess how big the demonstration was?

Let's put it this way, can't see it making the news!

[gingerjedi]

Can this be moved to 'Light Relief' please, I could do with a laugh.

[thelace]

Let us know how this gets on.

You really think for one second he won't?

[DiscoStu]

Let us know how this gets on.

FFS, don't encourage him!

[ChimpMaster]

Let us know how this gets on.

[Cyberman]

More info for those interested. There's a particularly interesting comment on why Bradford and Bingley is to be valued as a 'going concern' when it is 'bust', but the Rock is to be valued as 'bust' when it is a going concern. !!!!

http://www.uksa.org.uk/NorthernRock_Update_48.pdf

[Cyberman]

http://www.telegraph.co.uk/finance/n...challenge.html

[BrilloPad]

Much as I dislike bannings I hope that you get one on the grounds of being terminally boring.

In the meantime the ignore list will have to do as I'm as sick of your repetitive crap as I was of Sandy's /Yawn nonesense.

Not much chance of banning for that. why is atw still here?

[TykeMerc]

Thanks BrilloPad. Once we've won though, I will be having celebration threads !!

Much as I dislike bannings I hope that you get one on the grounds of being terminally boring.

In the meantime the ignore list will have to do as I'm as sick of your repetitive crap as I was of Sandy's /Yawn nonesense.