Bradford & Bingley shareholders strike back!

somerandomguy_2

I would also go with the "they lied" theory to explain the comments made by the CEO with respect to the companies stregth.

I found this interesting info this morning:

http://ftalphaville.ft.com/blog/2008/02/13/10886/bradford-bingleys-funny-numbers/

This was posted in Feb 08 and appears to show that the profits declared by B&B were a bit fishy. The profits declared excluded a number of exceptional costs which is reasonably OK. But this also included certain exclusions due to "strategic decisions" - ie their own - so B&B felt it alright to ignore costs that were caused by their own management decisions to make the profit figures better.

caroleiw

I've been wondering where Gordon and Alistair have their savings and think it would be useful to know if this influences their decision making.

I vaguely remember that Alistair had his mortgage with the B&B so maybe they have savings there as well and therefore by nationalising they are protecting their own savings.

There must be a conflict of interest somewhere for them.

Luckily I didn't take up the offer to buy any more B&B shares. Perhaps Gordon sold his before he nationalised it.

Banderman

B+B shareholders will get exactly the same as Northern Rock shareholders got i.e. sod all

Jon_McKnight

Dear Philatio

I only owned the shares for less than two trading days! So dividends didn't come into it. Perhaps you might care to look at my latest posting at http://jonmcknight.typepad.com/jon_mcknight/bradford-bingley/ and consider why B&B's CEO Richard Pym doesn't want to answer any questions about the reassurances he gave potential investors so soon before those assurances turned out, like the shares, to be worthless.

Jon

somerandomguy_2

Maybe they also lied when they said we were telling the truth earlier.

either way, it appears that you bought the shares when they were low to make a profit on them when they rose. Sometimes when you gamble you loose out, that's why its called gambling

d.edna

I got my shares for free, didnt spend anything haven't lost anything

Unlucky to the guy who bought shares on the friday, learn to skynews more

JayTee99_2

d.edna wrote: »

I got my shares for free, didnt spend anything haven't lost anything

Unlucky to the guy who bought shares on the friday, learn to skynews more

Me too

i've received the modest dividends for some time so can't get too excited over these.

d.edna

JayTee99 wrote: »

Me too

i've received the modest dividends for some time so can't get too excited over these.

To be fair the dividends have always gone towards a nightout with my girlfriend or beer money, Cheers rod my next bulmers will be in your memory!


And its always great to see another member of the B&B Great free share club

GeorgeHowell

Anyone who holds shares in individual companies runs the risk of losing the lot if the company goes bust. That's the nature of the beast. No way should shareholders be compensated by the taxpayer above a current market value (if there is one).

guppy

Jon_McKnight wrote: »

Lost a fortune in Bradford & Bingley shares? Not quite convinced that the bank should have been nationalised so soon after the CEO said it was "well capitalised" and "fit for purpose"?

Then you may find comfort in an open letter to Gordon Brown, Prime Minister and prime suspect in The Great Bradford & Bingley Bank Robbery, asking him the tough questions that no journalist has yet put to him.

As someone who lost £3,700 in B&B shares that I bought the day before it was unexpectedly nationalised, I'm not taking this lying down.

I was quoted widely in the Press and interviewed on ITN on the morning of the nationalisation, and I'm pressing for an interview with B&B CEO Richard Pym to discover the truth.

If he agrees that B&B need not have been nationalised, it should improve our chances of winning full compensation for having our shares "extinguished", as the Treasury so charmingly put it.

If you're determined to get justice, too, please take a look at my (non-commercial) blog at http://jonmcknight.typepad.com/jon_mcknight/bradford-bingley/

And if you feel as aggrieved as I do about this outrageous theft of our money, please add the blog link to any other relevant forums you use.

Jon

Why is it always someone else's fault...usually the government's?

Why on earth did you buy shares in a business that had been under a cloud ever since Northern Rock sank? Because you were seeking a big profit?

Surely you must have been aware of the risks that come with the potential rewards?

Stick to safer investments in future