Vote in Nationwide AGM 2011

NationwideMember

Links to Nationwide will be added to this thread.
The AGM isn't yet, but soon.

Nationwide is a mutual building society, owned by the members.
It is run by bankers who get paid millions and have fat pensions.
They no longer listen to you, its (shareholding) owners.
If you have more than £100 savings, or mortgage, then please join my facebook campaign to get members to stand for elected directors.

Why MoneySavings / Facebook?

Because you need a whopping 500 members nominations to stand as a director. (Of course, that's easy if you're at Nationwide HQ).

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...

You can't even ask questions at the AGM. Its your money.
All you can do is sack those in charge, and appoint ordinary members to ask difficult questions in the boardroom.

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

DO NOT SEND ELECTRONIC BANK / CONTACT DETAILS.
Join the open facebook group, and get invited to the closed group, where you will be verified by good old postman here in the UK, not some russian hacker.

Neil Humphrey
On facebook as Nationwide Building Society (As mutual members, we own it).

Thrugelmir

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...

Do you even understand what purpose Silverstone serves to the Nationwide?

I would have serious concerns about voting amateurs onto the board of a business as complex as the Nationwide in the capacity as Directors.

DVardysShadow

Thrugelmir wrote: »

Do you even understand what purpose Silverstone serves to the Nationwide?

I would have serious concerns about voting amateurs onto the board of a business as complex as the Nationwide in the capacity as Directors.

If you can't even ask questions at the AGM, then voting an amateur on to the Board to ask the questions is the only way forwards.

On a side note, looking at the banks which had to be bailed out by the tax paying amateurs of this land, in how many of those banks were there more than zero amateurs on the board?

The biggest risk from this sort of venture is that any amateur gets sucked into what is going on and becomes part of the corrupt establishment.

Thrugelmir

DVardysShadow wrote: »

If you can't even ask questions at the AGM, then voting an amateur on to the Board to ask the questions is the only way forwards.

As requested. I did.

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...

The OP plainly has no understanding of how the NW operates in the wholesale money markets.

DVardysShadow

Thrugelmir wrote: »

... The OP plainly has no understanding of how the NW operates in the wholesale money markets.

Quite possibly. Along with the vast majority of NW's members, I should imagine. Should mutuals operate in ways which their members do not understand? Should they attempt to explain rather than hide behind AGMs where you can't ask questions and you are only thereto support the board by acclamation?

TrickyDicky101

I think the OP is taking exactly the right approach - if no satisfaction is forthcoming from the current board then the obvious avenue is to attempt to vote in a new one. I disagree with the statement

Thrugelmir wrote:

I would have serious concerns about voting amateurs onto the board of a business as complex as the Nationwide in the capacity as Directors

There are many non-exec directors on complex companies that have no or very little experience directly relevant to that business's activities but they still bring valuable skills to the table. I am sure there are plenty of Nationwide members who have the capacity to act as a non-exec.

Thrugelmir

TrickyDicky101 wrote: »

There are many non-exec directors on complex companies that have no or very little experience directly relevant to that business's activities but they still bring valuable skills to the table. I am sure there are plenty of Nationwide members who have the capacity to act as a non-exec.

I would not consider such individuals as amateurs. Nor would I suspect that they would be become involved in aspects of the business operation of which they had no commercial knowledge.

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wynkin

I am at last glad to find somewhere where the Nationwide can be discussed.

The Nationwide website appears so lovely but doesn't really want any feedback it would deem negative.

I would suggest that employees of Nationwide are just that and shouldn't have voting rights.

I'd like to know currently how many accounts each of the directors and their families have? Nothing like having lots of votes and voting for yourself.

The Nationwide have finally stopped wasting members money on sponsoring football. I regularly complained.

Just who was using all the complimentary tickets? I asked at my branch, they said members were given them, OK I say can you name any? Well I have been to the hospitality and most of the branch, said the employee.

So the tickets get given to employees then? No he says we are members!!

On another occasion - I told the branch manager I was relieved that no more money was being wasted on such a corrupt sport as football - she said 'It depends if you are patriotic or not' - I was gobsmacked since when has patriotism become involved with spending members money! Made my blood boil.

I have today asked Nationwide how many tickets have been bought for the Olympic Games and who were going to use them? I will not get a straight answer if any.

Can anyone tell me if there is a forum for free expression in regards to Nationwide.

I will I expect be called a conspiracist - that's the usual reply when I ask how many of the board of Nationwide are Freemasons.

I could go on for hours I despise the way Nationwide is run.

zenbanana

wynkin wrote: »

Can anyone tell me if there is a forum for free expression in regards to Nationwide.

Didn't there used to be a mad butler who caused trouble at Nationwide's AGM :rotfl:

interbear

wynkin wrote: »

I am at last glad to find somewhere where the Nationwide can be discussed.

The Nationwide website appears so lovely but doesn't really want any feedback it would deem negative.

I would suggest that employees of Nationwide are just that and shouldn't have voting rights.

I'd like to know currently how many accounts each of the directors and their families have? Nothing like having lots of votes and voting for yourself.

The Nationwide have finally stopped wasting members money on sponsoring football. I regularly complained.

Just who was using all the complimentary tickets? I asked at my branch, they said members were given them, OK I say can you name any? Well I have been to the hospitality and most of the branch, said the employee.

So the tickets get given to employees then? No he says we are members!!

On another occasion - I told the branch manager I was relieved that no more money was being wasted on such a corrupt sport as football - she said 'It depends if you are patriotic or not' - I was gobsmacked since when has patriotism become involved with spending members money! Made my blood boil.

I have today asked Nationwide how many tickets have been bought for the Olympic Games and who were going to use them? I will not get a straight answer if any.

Can anyone tell me if there is a forum for free expression in regards to Nationwide.

I will I expect be called a conspiracist - that's the usual reply when I ask how many of the board of Nationwide are Freemasons.

I could go on for hours I despise the way Nationwide is run.

Seriously - if you feel so strongly, why do you still do business with Nationwide. It would surely be less stressful just to move your business elsewhere?