If you had shares in this UK bank at the beginning of the year they'd be worth 12Pounds a piece (about $24)
Yesterday they dropped to a low (and still trading @60 pence about $1 )
They have been bailed out to the tune of Several Billion Pounds by the Government who want a return yet there seem no end in sight to the crisis which started with their investments abroad (especially in the US) and poor management leading to a Knock-on effect on the Stock Exchange
Only hope now is a buyout but who is stupid enough to Buy Northern Rock? Latest News Here
PS Savers money is Safe...Government have assured that (as part of the loan) Majority of Branches are in the Newcastle/Tyneside/Teeside Areas
BTW Here is the Google listing Makes very embarassing reading
quote:
northern rock - Low Rate Loans, Mortgages, Savings & Insurancenorthern rock plc is a top 5 UK mortgage lender, on the FTSE 100 index with over £100 billion in assets. northern rock specialises in low rate loans, ... www.northernrock.co.uk/ -
Latest on this the potential Buyers are rumoured to step in when the shares hit 10 pence And its a (very) long climb back even to a Pound from that position I think they'll do a reissue of shares? But To quote the UK vernacular Whose Mug enough to take this up?
Posts: 13330 | Location: 6 miles west of Wigan UK | Registered: 06-05-02
by the Government who want a return yet there seem no end in sight to the crisis which started with their investments abroad (especially in the US) and poor management leading to a Knock-on effect on the Stock Exchange
