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xian

Boredom Grown

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Now, not only is GB's profligate borrower and spender pigeons coming home to roost, he's gone and done us all another frigging massive disfavour.

the IPO on a partially publicly owned company is to be floated, but apparently us little private investors are not allowed in - WTF????

WE!!!! actually own, publicly, i.e. we PAY for it via taxes, a large proportion of this Co. and yet GB Propitup Fin. Co can sell it off without even giving us a sodding look in.

Hey, I used to be a liberal / wavering voter, still relatively young (a woman never discloses her age), and therefore voting patterns depends on incumbent Govt actions, and I say.... this sh*t stinks.

edited to add: 25 views, no responses. I wonder if people here actually realise what this means, It means WE have paid to build this company. We still own a large proportion of it. Part of it it was sold off privately by the Govt recently to a large organisation.

Of the remaining percentage, a large proportion of that will be sold of privately to big companies who stand to make a substantial profit, but WE AS PRIVATE INDIVS WHO ALREADY OWN IT WILL NOT BE ALLOWED!!!!! b Anyone who wants to put a few quid in is not allowed. Yet we, as taxpayers, have built, and effectively own a large part of this Co.

At least when Thatcher sold off UK assets we were allowed a look in as private investors.. WHY NOT NOW????

Does it not p*ss you off?

Edited by xian

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I wonder if people here actually realise what this means

I suspect it means that this is unfortunately the kind of behaviour we expect from the scum who run the country: and when they can get a majority government with 22% of the votes, there's not much that can be done to get rid of them.

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Hrm, at least Mrs T pretended to be advancing a share owning democracy when she sold off the family silver to the market makers, these days they're so arrogant they fail to see the need in throwing a few breadcrumbs aside, not least if it doesn't directly appeal to their typical voting demographic.

Lord Drayson, defence procurement minister, said: "This is a very complex business and providing an explanation to the public was going to be too complicated and expensive for us. It was going to cost £5 per investor, including follow-up calls. If say, low millions had signed up, it would have cost around £5m."

Later, however, sources close to the Government's advisers suggested the cost was more like £23m, comprising £8m of direct costs and £15m of incentives such as bonus shares. "It would therefore not have offered value for money to the taxpayer," one said.

If they really cared about the tax payer they wouldn't have given away a huge chunk to the Carlyle Group for a song.

Mind you, Drayson knows all about padding his nest with plush government contracts for doing very little, a few donations to the right people can work wonders for an aspiring Lordship.

Shame, they could have used this to kick-start a speculative bubble somewhere else other than in property.

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If they really cared about the tax payer they wouldn't have given away a huge chunk to the Carlyle Group for a song.

well there you go... Carlyle Group. Arms dealing for the boys, and there's a little something for the wife...

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Lord Drayson, defence procurement minister, said: "This is a very complex business and providing an explanation to the public was going to be too complicated and expensive for us. It was going to cost £5 per investor, including follow-up calls. If say, low millions had signed up, it would have cost around £5m."

And yet they waste £287.57 on each ID scheme propaganda DVD...

'Son of the £300 ID card the £290 ID scheme propaganda DVD':

http://www.theregister.co.uk/2005/12/02/id_card_video_costs/

The justification of the exercise is possibly weirder than the costings. Clarke told Davis: "Ongoing engagement with stakeholders and research conducted with the general pu blic showed an awareness of the Identity Cards Scheme, but a degree of misunderstanding about the details of the scheme and how Identity Cards would be used. It was decided to fund a DVD to help the Identity Cards Programme Team communicate the basic feat ures of the scheme in a clear and concise way." Here Clarke appears to be conceding that (as ID scheme critics have been pointing out for some considerable time now) that although the bulk of the population has heard of ID cards, they labour under serious misconceptions about what the scheme entails and how it is supposed to work.
Edited by Jeff Ross

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Guest Riser

..Of the remaining percentage, a large proportion of that will be sold of privately to big companies who stand to make a substantial profit, but WE AS PRIVATE INDIVS WHO ALREADY OWN IT WILL NOT BE ALLOWED!!!!! b Anyone who wants to put a few quid in is not allowed. Yet we, as taxpayers, have built, and effectively own a large part of this Co.

At least when Thatcher sold off UK assets we were allowed a look in as private investors.. WHY NOT NOW????

Does it not p*ss you off?

Its not just private investors, it looks like the majority of the staff are not getting a look in yet 230 executives will be in line for a £145m payout.

Labour has £1bn defence float in its sights

.......Up to 230 QinetiQ executives would also be in line for a potential £145m payout on an enhanced stake initially bought for £1m. Sir John Chisholm could see his initial investment of £129,000 now worth an astonishing £22m. Equally surprising is that Carlyle holds its stake in QinetiQ through various special-purpose vehicles registered in Guernsey, which is outside the jurisdiction of the UK inland revenue.

Birmingham Post

............Shadow defence minister Gerald Howarth feared the sell-off was a "desperate move to provide a quick buck" for Chancellor Gordon Brown.

Liberal Democrat treasury spokesman Vince Cable called for an investigation into whether the Carlyle stake was handed over far too cheaply.

Bought for £42.2 million, it is expected to be worth £341 million when Qinetiq is floated. Mr Cable said: "I would not say it's a scandal but it is seriously worrying as to how this company was allowed to make an enormous profit as a result of being the single bidder for its stake in Qinetiq.

"I am seriously worried that the Government massively miscalculated the value of its old assets and has sold the taxpayer short."

Prospect, the union representing 3,000 Qinetiq work-ers, also demanded that they be given a fair share of any proceeds from the 13 per cent of the firm allocated to employees.

It fears three quarters are unlikely to see any benefit while senior managers could pick up millions of pounds. Prospect's national secretary, David Luxton, said: "Senior managers are going to have to explain to staff why such large returns have been confined to so few.

"The disparity in the distribution of shares amongst employees (which was decided by the Carlyle Group) is a lost opportunity to reward all Qinetiq staff who have contributed to the success of the company.

"Most Qinetiq staff were not given the opportunity to purchase the highly geared share options available to senior management that will now generate a massive windfall on flotation."............

Inquiry call as state sale of QinetiQ yields 800% for Carlyle

Parties united in anger over QinetiQ

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Its not just private investors, it looks like the majority of the staff are not getting a look in yet 230 executives will be in line for a £145m payout.

<_< =full%26siteid=50002%26headline=qinetiq%2dwindfalls%2danger-name_page.html]Birmingham Post[/url]

Inquiry call as state sale of QinetiQ yields 800% for Carlyle

Parties united in anger over QinetiQ

Why do you mock?

This is redistribution of wealth in action.

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Now, not only is GB's profligate borrower and spender pigeons coming home to roost, he's gone and done us all another frigging massive disfavour.

the IPO on a partially publicly owned company is to be floated, but apparently us little private investors are not allowed in - WTF????

WE!!!! actually own, publicly, i.e. we PAY for it via taxes, a large proportion of this Co. and yet GB Propitup Fin. Co can sell it off without even giving us a sodding look in.

Hey, I used to be a liberal / wavering voter, still relatively young (a woman never discloses her age), and therefore voting patterns depends on incumbent Govt actions, and I say.... this sh*t stinks.

edited to add: 25 views, no responses. I wonder if people here actually realise what this means, It means WE have paid to build this company. We still own a large proportion of it. Part of it it was sold off privately by the Govt recently to a large organisation.

Of the remaining percentage, a large proportion of that will be sold of privately to big companies who stand to make a substantial profit, but WE AS PRIVATE INDIVS WHO ALREADY OWN IT WILL NOT BE ALLOWED!!!!! b Anyone who wants to put a few quid in is not allowed. Yet we, as taxpayers, have built, and effectively own a large part of this Co.

At least when Thatcher sold off UK assets we were allowed a look in as private investors.. WHY NOT NOW????

Does it not p*ss you off?

Hell yes..

Crash Gordon has dropped the ball so completly that he now has to sell one of our companies and just to loose the money into our defficit..

Worth about £1,000,000,000???

well the people in this country have sunk over £600,000,000,000 further into debt on his watch.. so what a 6th of 1 percent of that is going to achieve I don't know..

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Yeah lets sell off the family silver but not allow private investors to buy any shares, employ sex offenders in schools (yes that's a really good idea that one, and no we don't need more legislation just some bloody common sense and accountability for a change), oh yeah and send us to war in Iraq (where we don't even bother to count or estimate how many people have been killed because oops that might be more than Saddam was responsible for). Never thought I would ever vote Conservative, can't believe I am now giving it serious thought, time for a change.

Edited by TheJudge

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I work for QQ. Staff at the company are to recieve £500 of free shares held in trust for 3 years plus we are able to buy more at a preferencial rate but why private investors are not allowed I have no Idea, the idea of Gordon Brown selling off for a quick buck isn't true as they originally wanted to float in 2001/2 but the SM was having somewhat of a bad time so it was delayed.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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