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

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David Ward Condemned for Rocket Support | BBC
LibDem MP Backs Rocket Attacks | Indy
LibDem MP: I Would Bomb Israel | ITV
A Bold Plan to Reform Welfare | Ruth Porter
Clinton’s Busty Mistress Nicknamed ‘Energizer’ | Mail
Photo Analysis of Miliband’s Obama Visit | Buzzfeed
Dave Shouldn’t Have Moved Gove | Michael Howard
Bercow’s Nightmare | Alex Wickham
Miliband Abandons Britain to Meet Obama | Sun
Tequila-Quaffing Chat Show Plonker Clegg | Quentin Letts


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Owen Paterson lifts the lid on the Green Blob:

“I received more death threats in a few months at Defra than I ever did as secretary of state for Northern Ireland.”



Flight Watch says:

Russia Today is a cauldron of bullsh*t. The only people that take it seriously are deluded conspiracy theorists. Other RT journos have resigned citing the same reasons.

It’s about as believable as Press TV, KCNA of North Korea or the Daily Mirror.


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