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Vote in Nationwide AGM 2011

2

Comments

  • gwapenut
    gwapenut Posts: 1,499 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 22 June 2011 at 8:34AM
    People should definitely vote to harm CEO Beale's earnings, after the raft of detrimental changes he cynically introduced JUST AFTER the AGM last year. Relying on time healing, hoping it won't come back to haunt him this year.

    He also took the rare step of withdrawing his public CEO email address so that people couldn't contact him. And this is meant to be a mutual owned by its members! He's a disgrace.

    He's presided over foreign withdrawal charges, overdraft rates tripling to now exceed many credit cards, several ISA transfer fiascos, and I'm sure plenty of other things. I don't think he embraces the mutuality concept.
  • zenbanana
    zenbanana Posts: 24 Forumite
    Imnoexpert wrote: »
    Come on Martin launch a campaign. The end of the millionaire club!

    I very much doubt Martin would launch a campaign against a mutual building society re: directors salaries :naughty:
    The path to enlightenment is a yellow fruit
  • Mr_K
    Mr_K Posts: 1,171 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Car Insurance Carver!
    All most people will see when opening this is the 'tick the box to enter £1000 prize draw', alongside the 'vote for all the directors recommendations box'. A lot easier than having to go through the individual questions ishould you stupidly decide to vote 'no'. Surely there should be a single box to vote against all the directors recommendations aswell.

    Such a voting form must be open to challenge, it's incredibly biased. A lot of thought has obviously been put into the design.
  • kevin52
    kevin52 Posts: 156 Forumite
    Part of the Furniture Combo Breaker
    Pay peanuts and you'll get monkeys. They are paid a fraction of the salaries that the directors of the unsuccesful and bankrupt part nationalised banks are paid.
    Oust the board members and replace with the amateurs who inhabit these message boards? No thankyou.
    I have voted (enthuastically) to accept the AGM report and re-election of directors.
  • VT82
    VT82 Posts: 1,093 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    NationwideMember wrote: »
    Take a look at "Silverstone" (deposit) notes subsidiary in its accounts. Sounds like another credit crunch trigger, packaging bundles of (riskier?) mortgages. Directors from Lehman Brothers, Citigroup...

    I am recommending you DO NOT ACCEPT ACCOUNTS (without disclosure of Silverstone mortgage bundling to independent audit by CRB checked representative member).

    Silverstone has been running for years. All banks and big building societies have issued securitisations like this. They are thoroughly picked over by auditors and rating agencies before, during and after issuance.

    Your argument would come over a lot stronger if you sounded like you knew what you were talking about I'm afraid.
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    I ensured I did the 'right thing'.

    As a 'model' upright moral citizen, I threw all the AGM paper in the recycling bin - as normal.
  • Lucy_Lu_8
    Lucy_Lu_8 Posts: 36 Forumite
    I'm a bit dumb when it comes to things like this. I recieved some paperwork in the post yesterday regarding AGM. I haven't read it yet and quite frankly i probably wont get round to it. What is it all about and what do i need to do with it?
  • alanq
    alanq Posts: 4,216 Forumite
    1,000 Posts Combo Breaker
    Mr_K wrote: »
    All most people will see when opening this is the 'tick the box to enter £1000 prize draw', alongside the 'vote for all the directors recommendations box'.

    If they do they will be disappointed. It is "tick the box NOT to enter the £1000 prize draw"
  • susan47
    susan47 Posts: 64 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I see red every time I see the list of fat cats that comes with the voting papers. I look at their credentials and they all make me sick.

    So I always put my voting paper in the shredder...too late to do anything else now!
  • GeorgeHowell
    GeorgeHowell Posts: 2,739 Forumite
    I don't vote in these things. The benefit of mutuals over banks is that they have been more sanguine in running their affairs and if they do get in trouble they usually help each other out rather then expecting the taxpayer to do so. Beyond that they are like any other large organisation, in the private or the public sector -- a self-serving management defending its corner against all comers, be they shareholders, customers, or employees. And I say that not as a leftie, but as a realist.
    No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.

    The problem with socialism is that eventually you run out of other people's money.

    Margaret Thatcher
This discussion has been closed.
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