The fate of Chelsea Building Society is decided this week...

C_Mababejive

I have a Yorkshire account and received some blurb in the post this week. I would urge all concerned to vote against this merger since all they are doing is seeking to capture the assets of Chelsea,save themselves lots of money,make some money,make people redundant due to duplication of work but give members Jack Sh7te for the priveledge of their vote of approval.

Vote NO FWIW...

baby_boomer

How presumptous that the Yorkshire vote is 2 days after the Chelsea vote.

In other words, Yorkshire BS is taking a Chelsea YES vote for granted. If Chelsea members voted NO then it would be a huge waste of money for YBS to have previously sent out a million or so voting forms at a significant cost to both members and the environment :eek:.

ed123_2

...I think they need 75% savers & 50% borrowers to get a Yorkseachelshire bs,,in my view they may not get the Yorkshire votes...........I don't know why the bosses get so much money as all they do is take in the money from savers & pay it out to borrowers.....

EarthBoy

This merger will happen, come what may. The FSA are unlikely to stand by and let the Chelsea remain independent in its current state. In the unlikely event that members vote against it, the FSA would probably wait a couple of months (perhaps even only weeks) and then force it through anyway using their powers under the Building Societies Act. They would justify it by saying that the situation at the Chelsea had deteriorated since the original merger "no" vote, and emergency action was needed in the interests of the members.

EarthBoy

ed123 wrote: »

...I think they need 75% savers & 50% borrowers to get a Yorkseachelshire bs,,in my view they may not get the Yorkshire votes...............

It's only 75% and 50% of those who actually bother to vote; not of savers and borrowers as a whole. The vast majority of votes are likely to be in favour, as most of those against simply won't bother to vote at all.

oni_2

EarthBoy wrote: »

It's only 75% and 50% of those who actually bother to vote; not of savers and borrowers as a whole. The vast majority of votes are likely to be in favour, as most of those against simply won't bother to vote at all.

i will vote !!!

roddydogs

agsnu wrote: »

So you'd rather it went bust?

How will it go bust?, isnt my £100 safe, then?

C_Mababejive

roddydogs wrote: »

How will it go bust?, isnt my £100 safe, then?

Quick...run on a bank...form a queue...!!!

roddydogs

Its not a Bank

TREVORCOLMAN

baby_boomer wrote: »

I'm not voting for a merger until the directors responsible give up some of their ludicrously lavish pensions.

Jeff Prestridge's editorial in Financial Mail on Sunday

".....None of the executives responsible [for the demise of six societies] paid a heavy price. In the case of Chelsea, the two men who brought the society to its knees, ex-finance director Peter Walsh and former chief executive Richard Hornbrook, walked away with the guarantee of pensions worth £192,000 and £204,000 a year for life. How about that as rewards for failure?"

This borders on the criminal.

And the current board is not even prepared to 'fess up to members about their past mistakes.

They need a kick up the backside and only a NO vote will do that.

A relative of mine will in a few years time retire from the civil service after 30 years and their "gold plated" pension will be around £4000!