pqrdef wrote: »
So what does Branson want with a regional network of mortgage shops? Where is this going? None of the other demutualised building societies has survived as an independent bank. No significant regional bank has kept its independence either. It's not at all clear that there's a niche for this beast. I can see it being sold off and swallowed up within 5 years.
waveneygnome wrote: »
My concerns are though that Virgin bought a bank a couple of years ago....I think Church something something from a group of solicitors...in order to gain a banking license. From the outside, Virgin hasn't done much with that.
In addition, Virgin financial products are not known for low cost/good value. Their range of ISA's, life insurance etc all offer poor value compared to other players.
The Virgin One Account - a pioneer in offset mortgage markets - was sold by Virgin to RBS.......who swiftly upset many customers with there interest rate policy changes.
TREVORCOLMAN wrote: »
And they criticsied GB for selling gold cheap!
JuicyJesus wrote: »
Well they have form... BT, British Gas, the rail system, CEGB, the various electric and water boards... I wonder how much money shareholders have made out of those over the past 20-odd years?
opinions4u wrote: »
But taxpayers lost money with these businesses because they all lost money year after year when state owned. And don't tell me they offered wonderful service, becasue they didn't.
As profit making entities they've contributed to tax revenue.
In most cases prices to consumers also fell in real terms. (I'll accept rail fares would be a key exclusion to this).
They didn't sell off the family silver. They sold off the family crap.
Mandelbrot wrote: »
From the article :"Account access to remain the same – for now
Consumers can access their accounts in the near future, though this could change once the re-branding exercise happens next year."
JuicyJesus wrote: »
Why the hell should a water company, who I have no choice but to use the services of, and whose product is a basic essential for life with no differentiation between one person's supply or the next, be run for a profit?
differentiation between one company's supply or the other other than the price and the customer service offered when they are called.
Telecoms is even stupider.
You're welcome to say I say all of this for ideological reasons, and that's partially true - mind you, nor am I a (totally) loony lefty who thinks everything should be government owned.
What supplies do they need?
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