Britania merger vote

sons_2

So the vote at the AGM is today, wonder which way it will go and when we will find out.

Chadsman

According to the Britannia website the merger has been approved...
http://www.britannia.co.uk/home/index.html

Milarky

They aren't publishing the numbers though, probably a low turnout.

Iconic

Milarky wrote: »

They aren't publishing the numbers though, probably a low turnout.

'Britannia Building Society’s members voted overwhelmingly in favour of merging with Co-operative Financial Services at its AGM at Birmingham National Exhibition Centre today - 88.6 per cent of savings members voted in favour of the deal – more than the 75 per cent majority required. Some 86.2 per cent of borrowing members supported the proposal – only a 50 per cent approval from borrowers was required'

http://www.crainsmanchesterbusiness.co.uk/apps/pbcs.dll/article?AID=/20090429/FREE/904299965/1012

Renter01

More than 475000 saving members voted in favour, and around 24000 borrowing members voted in favour.

Excellent News :j

baby_boomer

Renter01 wrote: »

Excellent News :j

So that was why the Britannia PIBS fell in price on a day when the stock market boomed and other society PIBS maintained their value.

Whatever will happen when the news is bad :rolleyes: ?

We now need a management determined to cut costs in order to make up for its loan blunders.

No namby pambying about scared of stepping on employee "stakeholder" toes. Unfortunately strong management, unprepared to toe the unions line, is not a feature of either the Co-op or Britannia.

So expect drift rather than progress.

sons_2

baby_boomer wrote: »

So that was why the Britannia PIBS fell in price on a day when the stock market boomed and other society PIBS maintained their value.

Whatever will happen when the news is bad :rolleyes: ?

We now need a management determined to cut costs in order to make up for its loan blunders.

No namby pambying about scared of stepping on employee "stakeholder" toes. Unfortunately strong management, unprepared to toe the unions line, is not a feature of either the Co-op or Britannia.

So expect drift rather than progress.

I know some people that work for the Co-op and they would disagree, the union is useless. Some of the things I have been told I would agree as well.

jack_spratt_2

baby_boomer wrote: »

How apt!


Some of the profits go to support the Labour Party?

And whats the matter with the Labour party !!:p

ffacoffipawb

jack_spratt wrote: »

And whats the matter with the Labour party !!:p

What isn't the matter with Zanu Labour?

cvd

And whats the matter with the Labour party !!:p

For me, that is not the point. The point is that it should not be using its profits to support any political party. It alienates a substantial number of potential customers and so makes the organisation less successful.