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Irn Bru Gordy didn't know at the time the price of gold would double if he waited a few years , the gold was sold to pay off national debt and stop the UK's credit rating going down the shitter

All the news reports are saying that Virgin Money is aiming to float on the stock market sometime between 2014 and 2016.

Once listed on the stock market the shareholders will want to see profits and a decent dividend on their shares. Cutting jobs is the most popular way to do it.

The pledge on jobs is for those being merged into VM's current operation (former Northern Rock staff) , after 3 years Virgin Money will be allowed to restructure the business in preparation for a listing on the stock market.

We might only lose £400M on the deal because there are add ons to be paid by Virgin Money in the future. In 3 years time there will be a massive cull in the employee headcount as Virgin Money will then be allowed to restructure the business.