How much would you pay for a design that is nearly fifty years old?
Northern Rock sold for HALF what they paid for it.
- Thread starter DerbyGull
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How much would you pay for a design that is nearly fifty years old?
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- #22
I am talking from a position of ignorance. I briefly read that the initial sale figure (approx £750m) was half the purchase figure (approx £1.5bn). Hence why I haven't added further to the discussion as there are more 'well researched' and less 'ignorant' (as you put it) people out there. And it has sparked a discussion. So what's your problem??!
Pot noodles for everyone
New member
With you, none. My suspicions are confirmed. More generally though I have a cold that doesn't seem to want to shift no matter how many potions I buy from Boots pharmacy. It irks me.
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- #24
This isn't in any way a remedy that i know of, but loadsa garlic, yams, cabbage, carrots, herbs...boil it all up, liquidise it, add cream and you've got a hearty soup full of vitamins and minerals. Better than any over the counter potions from boots
seagullsovergrimsby
#cpfctinpotclub
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.
Postman Pat
Well-known member
How many companies does Richard Branson have listed on the stockmarket......
Colossal Squid
Returning video tapes
Not many.
He doesn't actually have a lot to do with many of the Virgin companies. He just sets them up with some money and his brand and then flogs them off once they turn a profit
Postman Pat
Well-known member
None. He doesn't like to be told what to do by shareholders so doesn't actually list any of them. Therefore there will be no shareholder pressure to cut jobs.
I work for Virgin Atlantic and he popped into the office a few weeks back, first time he has been seen there for over 2 years.
seagullsovergrimsby
#cpfctinpotclub
All the news reports are saying that Virgin Money is aiming to float on the stock market sometime between 2014 and 2016.
matthew
Well-known member
Hmm, what's 700m when we lost a near 20b thanks to Gordon
Colossal Squid
Returning video tapes
As I understand it however, VA is a bit different as Branson has always retained an interest in this as one of his flagship brands. I could be wrong but I think whilst he is President of VA he doesn't actually have much to do with a lot of the other Virgin companies other than to act as a figurehead. In fact Virgin Media is really still NTL, who pay Branson to use the Virgin name
Postman Pat
Well-known member
VA is one of the closest to his heart and he did personally intervene when the pilots were talking about striking. He does own a stake in Virgin Media as a result of selling them Virgin Mobile, but he is more hands-off there.
He seems to be the typical entrepreneur as he seems more interested in Virgin Galactic now and the race to be the first commercial space company.
drew
Drew
Explain?
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- #34
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- #35
He made £2.3bn from 395 tonnes of gold sell off, today it would fetch $23bn.
Colossal Squid
Returning video tapes
I don't want to defend Brown but let's be reasonable. Anyone can play the markets with the benefit of hindsight HOWEVER the sell off of Northern Rock was at a huge loss compared to what we paid for it just a few years ago.
The gold reserves that were flogged off would have been worth more now, yes, but that doesn't mean the same thing as selling something at a loss.
If I buy a car for £500, sell it for £600 and two years later discover it would be worth £2,000 now, I've not lost £1,500. I've still made £100 on the deal. Its current value is irrelevant
The gold reserves that were flogged off would have been worth more now, yes, but that doesn't mean the same thing as selling something at a loss.
If I buy a car for £500, sell it for £600 and two years later discover it would be worth £2,000 now, I've not lost £1,500. I've still made £100 on the deal. Its current value is irrelevant
Hatterlovesbrighton
something clever
But what if in two years time Northern Rock was worth £100m less than it is now? The sale of capital is always a matter of timing of when to release the capital invested to gain the most worth and enable the cash to be used for something else. Gordon Brown clearly made the wrong decision on the gold sale. It remains to be see whether Cameron's decision to sell NR now is the right one.
Selling the gold you don't need hindsight to know not to flood what was a depressed market driving the price to such a low. You need a brain. He sold a tangible asset, a massive lump of physical rare material not a business so it is plain stupid to compare.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,407
a well known, popular brand has brought up a distressed bank, with an aim to expand it and challenge the incumbent high street banks which most universally think offer poor services. and your f***ing moaning about this?
drew
Drew
Bit of a lame argument as it's only worth what you sell it for. Brown of course didn't get the best price but if it were sold today at $23b then in 20 years time someone would be arguing that a loss was made because the future price of gold will almost certainly be higher.