Thursday, March 10, 2011

Here’s a hot potato; catch!

Rock readies for sale despite losses of £232m

Northern Rock's executive chairman stoked expectations of an imminent move out of public ownership yesterday when he said the bank did not need to make a profit before returning to the private sector. Ron Sandler made his comments as the bank posted a loss of £232m for last year. He said a clear return to profit would be a benefit in attracting investors but that if it was on track for profit, that could be enough for a move out of nationalisation.

Posted by sibley's b'stard child @ 08:38 AM (837 views)
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2 thoughts on “Here’s a hot potato; catch!

  • The NR bonuses are still rolling in.

    These bonuses are a sure sign that amnesia persists.

    “I think we may have to strap him into the chair Doctor, the down side of the prozac programme are starting to take effect.”

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  • That’s right, sell it off as a loss making concern for a bargain basement price. How dare the taxpayer expect to get back what it put into the failed business.

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