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.



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Adam Spiegel, producer of Nazi themed “The Producers” musical says…

“Margate seemed a perfect place to start the promotion. I’m disappointed but not entirely surprised to see that UKIP are trying to hitch a publicity ride on the back of the show.”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Jenny Humiliates Natalie Jenny Humiliates Natalie
Senator Disproves climate change by lobbing snowball Senator Disproves climate change by lobbing snowball
GCHQ take tips from horror movie GCHQ take tips from horror movie
Happy International Polar Bear Day! Happy International Polar Bear Day!
Met Police Accuse Guido of “Collusion” With Press Gazette Met Police Accuse Guido of “Collusion” With Press Gazette
Miliband Speaks on #TheDress Miliband Speaks on #TheDress

Future of Journalism Update Future of Journalism Update
Hacked Off Rally Was Deeply Unpleasant Hacked Off Rally Was Deeply Unpleasant
Nazis Invade UKIP Conference Nazis Invade UKIP Conference
Farage on Course to Win Thanet Farage on Course to Win Thanet
Sadiq Khan Spoke at Jihad John Group Event Sadiq Khan Spoke at Jihad John Group Event
Government Blames Facebook for Lee Rigby Murder Government Blames Facebook for Lee Rigby Murder
The Hysteria of Hacked Off The Hysteria of Hacked Off
Simon Carr’s PMQs Sketch Simon Carr’s PMQs Sketch
Charity Fat Cats on £145,000 Charity Fat Cats on £145,000
Meet the Lesbian Tech Queen Meet the Lesbian Tech Queen
Balls on His Sexual Prowess Balls on His Sexual Prowess
Tory Candidates: EU Bad For Business Tory Candidates: EU Bad For Business
Follow

Get every new post delivered to your Inbox.

Join 1,778 other followers