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Realistbear

Champion Of The B T L Brigade Going Down--fast

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BRADFORD & BINGLEY 42.00 -8.00 -16.00%

Anything to do with "property" is poison. I wonder what Halifax is going to report as the latest MoM decline?

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BRADFORD & BINGLEY 42.00 -8.00 -16.00%

Anything to do with "property" is poison. I wonder what Halifax is going to report as the latest MoM decline?

Analysit says B&B 'May collapse'

Goodwin, Analyst, Says Bradford & Bingley May Collapse: Video

July 7, 2008 06:36 EDT -- Leigh Goodwin, an analyst at Fox-Pitt, Kelton Ltd., and Roger Lawson, director of the U.K. Shareholders' Association, talk with Bloomberg's Rishaad Salamat in London about the bailout of Bradford & Bingley Plc after TPG Inc. abandoned plans to buy a 23 percent stake last week. Six banks including Banco Santander SA agreed to guarantee as much as 220 million pounds ($436 million) of the 400 million pounds being raised by Bradford & Bingley Plc after TPG Inc. abandoned plans

http://www.bloomberg.com/apps/news?pid=conews&tkr=BB:IX

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Complete dribbling retards with no economic sense whatsoever can see the writings on the wall for B&B, I'd love to be an analyist and get paid for pointing out the obvious. Right now if I was an property analyist I would be getting paid for predicting a property slump lol

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It's looking increasingly likely that a government-backed rescue of B&B will take place.

As we all know, if this happens, it will be covered up by the BoE and Gordon. The question is, are B&B's problems so massive that a bail-out could not feasibly be hush-hushed?

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I reckon they are probably busy shredding all the paperwork at B&B head office right now, I wonder what the talk around the water cooler is about ?

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Goodbye.

http://uk.biz.yahoo.com/080707/214/i2v7l.html

Monday July 7, 12:36 PM
B&B faces fee despite failed deal
:lol:
| | |
LONDON (ShareCast) - Bradford & Bingley (LSE: BB.L - news) will have to pay fees to Goldman Sachs (NYSE: GS (Advertisement)
- news) , which gave the bank advice on an investment from a US private equity group, even though the deal fell through.
The mortgage lender is to cough up a basic "success fee" plus an additional amount on the completion of a new funding package, according to the Sunday Telegraph.
TPG Capital had agreed to take a 23% stake in the lender worth £179m, but is thought to have changed its mind after learning of an expected ratings downgrade by Moody's.
Several of B&B's large institutional shareholders have been forced to step in and rescue its £400m fundraising after US private equity group Texas Pacific (TPG) walked away.
The company's share price plunged to a new low today and beneath the rights issue price of 55p. Experts fear the fall will deter shareholders from stumping up fresh cash.
Last month's stubborn rejection of overtures from Resolution forced insurance entrepreneur Clive Cowdery's bid vehicle to scrap plans to invest £400m in the business.
Resolution and the bank's four biggest investors, Standard Life (LSE: SL.L - news) , Legal & General Investment Management, M&G and Insight, had wanted to kill B&B's existing fundraising plans.

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Goodwin, Analyst, Says Bradford & Bingley May Collapse: Video

July 7, 2008 06:36 EDT -- Leigh Goodwin, an analyst at Fox-Pitt, Kelton Ltd., and Roger Lawson, director of the U.K. Shareholders' Association, talk with Bloomberg's Rishaad Salamat in London about the bailout of Bradford & Bingley Plc after TPG Inc. abandoned plans to buy a 23 percent stake last week. Six banks including Banco Santander SA agreed to guarantee as much as 220 million pounds ($436 million) of the 400 million pounds being raised by Bradford & Bingley Plc after TPG Inc. abandoned plans

time to add Santander to the list then....

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It's looking increasingly likely that a government-backed rescue of B&B will take place.

As we all know, if this happens, it will be covered up by the BoE and Gordon. The question is, are B&B's problems so massive that a bail-out could not feasibly be hush-hushed?

The question is to what extent have they already done it?

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I imagine that the BOE and AD are already in heavy behind the scenes rescue mode. They will be arm twisting the city to put together another consortium of rescuers. The last thing they want is to have to take B&B into public ownership; the NR flak was bad enough. If B&B falls then A&L can't be far behind.

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what are BB's offices like today are there queues of people trying to get there cash out ?

I doubt it, B & B's problems arent obviously enough to the masses yet and anyone with a brain should have moved their money from B & B months/years ago

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I tried to withdraw some money from one of the B&B cash machines while I was in town an hour ago.

"SORRY THIS SERVICE IS CURRENTLY UNAVAILABLE"

I wounder if this was a coincidence.

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Fox-Pitt, Kelton cut its target price for B&B shares to 43p on Monday on the assumption the rights issue was completed at the 55p subscription price and the Bank of England and Financial Services Authority ensured B&B did not "fail".

"However, we cannot rule out the possibility of an effective failure, with shareholders receiving little or nothing for their shares," said analysts Fox, Pitt-Kelton.

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It's looking increasingly likely that a government-backed rescue of B&B will take place.

As we all know, if this happens, it will be covered up by the BoE and Gordon. The question is, are B&B's problems so massive that a bail-out could not feasibly be hush-hushed?

You will know about this bailout when you buy a loaf of bread or fill up at the petrol station. :angry:

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B&B is worth 0p, from what everyone is saying it's assets don't cover it's liabilities. Therefore the B&B must be worthless.

Surely it will soon be cheaper to buy the company then take on one of their BTL loans?

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Don't worry, a rescue didn't happen on Sunday as Mervyn King was at Wimbledon (having a snooze in the stands) - I saw on TV when I was channel hoping :lol:

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B&B is worth 0p, from what everyone is saying it's assets don't cover it's liabilities. Therefore the B&B must be worthless.

I read somewhere assets and liabilities were both around 24bn. With rapidly deteriorating assets, that could soon be a lot of debt. I don't see what difference this notional 400m is going to make.

I also read somewhere that Cowdery might be tempted back in at 20p a share . . . but you have to wonder at what point trading will be suspended. In any normal market, this would have happened by now surely.

We don't know what the FSA and BoE are doing behind the scenes, but it does appear that they are currently masking insolvency rather than doing their duty to protect us all from it.

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Oops, shood-ah added my latest post on the latest on B&B here instead of starting a new thread. IMO< they are about to fold--EGM cancelled and the credit rating will prevent them from doing business. If they go A&L should be number 3 in line.

I wonder if the Qs are forming to get savings out as the deposit gurantees are uncertain.

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Oops, shood-ah added my latest post on the latest on B&B here instead of starting a new thread. IMO< they are about to fold--EGM cancelled and the credit rating will prevent them from doing business. If they go A&L should be number 3 in line.

I wonder if the Qs are forming to get savings out as the deposit gurantees are uncertain.

Perhaps we'll hear some news tomorrow morning on this, i'm keen to see what the shares will open at, particularly with the US banks doing so badly, the Dow Jones is down over 1% already.

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B&B might be used as a test case to allow a bank to go under, and despositers get protected rather than the nationalisation stylie. The problem they have is HBOS is trying to raise capital. So they got to be careful.

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  • 395 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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