Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
That was the week that was
Recent History |
Archives
Hello Crazy Critters,
I expect quite a few of our fellow Crazies are a bit worried about Northern Rock (NRK). What exactly has been going on for the last few days?
A chap came on the BBC and gave encouraging thoughts for shareholders saying the government might want to keep their big loan going. He was followed by two City types who said no - the only sensible course was to nationalise the Rock.
They said this would mean nothing at all for the shareholders. Not for all those people who won shares when the bank went public and not all those poor persons (like moi) who bought shares afterwards, many of us in the expectation that big take-over would happen sooner or later.
However, the Government may well rule out the nationalisation bit. How for example could there be one nationalised bank, while all the others are private (except for the Post Office and Ernie, I suppose)?
Any road up, my sunday paper said more bidders were coming in now, and a few of them were offering much more generous bids. This has got to be good news, as those of us who are shareholders in the Rock have to give our permission for the company to be taken over.
Normally you would need 90% of shareholders to give their concent. And I can see no reasons why the Northern Rock situation should be any different. Perhaps somebody could tell me?
Now I, for one, won't be giving permission for my shares to be sold to an opportunistic bidder like Virgin. I want all my share value back, and my hope is that the Rock will continue as it is, though under new managment, to give it time to recover.
But there's a warning to be made. The situation over the Rock is very confused. Nobody seems to know what will happen. So do not take what I say as read. Yes, it's my wish to hold my shares for the time being. It might not be yours. Rockin' on!
To find out more about Malcolm CLICK HERE
UKSA is the leading independent organisation for private shareholders in the United Kingdom. It campaigns to protect your rights as a shareholder and runs educational activities for members.
For more information about UKSA CLICK HERE
