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Old January 14th 08, 08:15 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

It looks as if Nationalisation is the only solution for Northern Rock. Vince
Cable harrangued Gordon Brown about this some time ago, before Christmas. It
looks as if he was right.

Vince Cable for PM, anyone?

John



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Old January 14th 08, 08:20 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised


"John E" wrote in message
...
It looks as if Nationalisation is the only solution for Northern Rock.
Vince Cable harrangued Gordon Brown about this some time ago, before
Christmas. It looks as if he was right.

Vince Cable for PM, anyone?

John


Seconded.... he sounded a first class gentleman.. not driven by ambition and
image. In fact he came across as trustworthy!...or is that going too far for
a politician?


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Old January 14th 08, 08:28 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

"BigGirlsBlouse" wrote in message
news

"John E" wrote in message
...
It looks as if Nationalisation is the only solution for Northern Rock.
Vince Cable harrangued Gordon Brown about this some time ago, before
Christmas. It looks as if he was right.

Vince Cable for PM, anyone?

John


Seconded.... he sounded a first class gentleman.. not driven by ambition
and image. In fact he came across as trustworthy!...or is that going too
far for a politician?


Well, I was being provocative, as I'm sure you realise, however I would
agree with you that he has an effective presentation, probably without the
spin machine which we all suspect some others have.

John


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Old January 14th 08, 10:58 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

John E wrote:

It looks as if Nationalisation is the only solution for Northern Rock.
Vince Cable harrangued Gordon Brown about this some time ago, before
Christmas. It looks as if he was right.

Vince Cable for PM, anyone?


The other solution is to pay off the depositors - possibly by paying another
bank to take on their accounts, and shut the company down.

I really don't see why Northern Rock is of such strategic importance that it
has to be saved at all costs, and certainly not at a cost that is 20%
higher than the current market capitalisation of the Royal Bank of
Scotland.
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Old January 15th 08, 11:00 AM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

On 14 Jan, 22:58, Jonathan Bryce
wrote:

I really don't see why Northern Rock is of such strategic importance that it
has to be saved at all costs, and certainly not at a cost that is 20%
higher than the current market capitalisation of the Royal Bank of
Scotland.


I agree - after all the negative publicity everyone and their dog
knows that they can only continue operating due to the largess of the
BoE. I believe that they have assets in excess of liabilities, they
just have fatally bad cashflow problems. Receivership seems like a
perfectly reasonable option.

Daytona


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Old January 15th 08, 01:31 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

On 14 Jan, 20:28, "John E" wrote:
"BigGirlsBlouse" wrote in message

news


"John E" wrote in message
...
It looks as if Nationalisation is the only solution for Northern Rock.
Vince Cable harrangued Gordon Brown about this some time ago, before
Christmas. It looks as if he was right.


Vince Cable for PM, anyone?


John


Seconded.... he sounded a first class gentleman.. not driven by ambition
and image. In fact he came across as trustworthy!...or is that going too
far for a politician?


Thirded

Well, I was being provocative, as I'm sure you realise,


No, please read a basic guide to expressing emotions through a text
medium for the reason why.

Daytona
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Old January 15th 08, 10:24 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

On Mon, 14 Jan 2008 20:15:12 GMT, "John E" wrote:

It looks as if Nationalisation is the only solution for Northern Rock. Vince
Cable harrangued Gordon Brown about this some time ago, before Christmas. It
looks as if he was right.

Vince Cable for PM, anyone?

John



I have just seen on the news the (mainly elderly) people complain that
they have lost their savings. When they say "savings" - they of
course mean the money which they invested in NR shares.
Were they not aware of the fact that the value of shares fluctuates.

I look forward to the NR being nationalised - and hopefully the
institutional investors who have bought in recently in order to make a
killing will get their just deserts.

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Old January 16th 08, 11:35 AM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

On Jan 15, 10:24 pm, judith wrote:
On Mon, 14 Jan 2008 20:15:12 GMT, "John E" wrote:
It looks as if Nationalisation is the only solution for Northern Rock. Vince
Cable harrangued Gordon Brown about this some time ago, before Christmas. It
looks as if he was right.


Vince Cable for PM, anyone?


John


I have just seen on the news the (mainly elderly) people complain that
they have lost their savings. When they say "savings" - they of
course mean the money which they invested in NR shares.
Were they not aware of the fact that the value of shares fluctuates.

I think quite a lot of them didn't invest, they were windfall shares.
Judging by some of the comments on the BBC website, I think each
person got 500 shares (possibly 1000 for some?)

Initially traded in October 97 at about 450p

And, assuming I've added the numbers up correctly (probably not :-)
they'll have had 199.5p dividends (net and not counting the cancelled
dividend)

If we assumed 6% interest p.a. in a bank 2250GBP would be worth about
4000 now. Making the approximation that all the dividends were paid in
2002 then the dividends (inc tax) would be worth 1500GBP if paid into
the same bank. The shares are still at 60p today (300GBP) and could
easily have been sold for 150p (750GBP) even after the problems became
apparent.

So the windfall recipients have still got about 2k in todays money
from their windfall rather than about 4k if they'd sold their NR
shares immediately and paid the money into a high interest account.

(All my calculations above are rough and ready. In particular I've
ignored tax which can significantly affect the compounding I've
assumed)

Tim.
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Old January 16th 08, 04:21 PM posted to uk.finance
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Default Vince Cable was right - Northern Rock about to be Nationalised

John E wrote:
It looks as if Nationalisation is the only solution for Northern Rock. Vince
Cable harrangued Gordon Brown about this some time ago, before Christmas. It
looks as if he was right.

Vince Cable for PM, anyone?

John



Yes, yes, along with all the others who predicted precisely the same
outcome.

--
Moving things in still pictures!


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