Sunday, November 18, 2007

Northern Rock CEO Sold Millions in Shares Before Collapse

Adam Applegarth did pretty well out of Northern Rock shares in the year before it collapsed. He has trousered many millions over the years, allowing him to enjoy an Aston Martin with a Ferrari for his missus parked in the driveway of his mansion. His confidence in his bank’s business model long term is demonstrated by his selling of £1.5 m of shares in two days. (25 Jan 2006 sold 52,253 at 957p for £500,061.21 and the next day he sold another 111,426 at 957p for £1,066,346.82).

His faith in the business was shown by his purchase last April of just 262 shares worth a little under £3,000. Not a lot of faith in the business from the boss was there?

Enron’s crooks were massive financial supporters of the Republican party. Northern Rock gave half-a-million to Labour’s favourite think-tank, the IPPR. It also employed Gordon’s personal pollster, Deborah Mattinson, as an adviser. Of all the pollsters to seek advice from, why her? Why give money to that think-tank? Nowadays it is very rare for publicly quoted companies to make politically partisan donations.


Seen Elsewhere

Yes Scotland’s Geo-Targeting Advertising Fail | MessageSpace
#IndyRef Twitter Map | Trendsmap
Westminster Has Patronised Scots | Scottish Sun
What Happens in the Event of a Recount? | Breitbart
Yes Side Emphatically Won Campaign | Speccie
Joyce Thacker on Sick Leave | Doncaster Free Press
Claire Perry Slams ‘Goodies’ for Scots | Sun
Westminster Truce Shatters | Times
Boris: Prime Minister By Monday | James Ford
Tories Say Don’t Bribe the Scots | Times
Dave Can’t Stay if Scots Go | Laura Perrins


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The Prime Minister feels the pressure:

“I have to say that after the events I have been facing over the last few days, assassination would be a welcome release.”



It was only a tiny tiny collision.


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