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

What Will Happen if Scots Leave? | David Aaronovitch
Why Are Radicals Like Carswell Leaving Tories? | BBC
Danczuk: Rotherham Abuse Imported From Pakistan | Telegraph
Ashya King Case Shows How Authorities Get it Wrong | ConHome
The Carswell Show | Jon Craig
Cops Seized Journalist’s Phone to Out Whistleblower | Press Gazette
Chuka’s £2,500 Tax Avoidance Donation | Times
Another BBC Stitch Up? | David Keighley
Divided, Pessimistic Tories Expect Defeat | Alex Wickham
Labour Suspends Rotherham Council Members | Sky
PM Used Terror Crisis to Deflect From Carswell | Rachel Sylvester


VOTER-RECALL
Get the book Find out more about PLMR


George Osborne rejects the Ice Bucket Challenge from Ed Balls:

“I’d rather pay the money to charity and pour cold water on his policies.”



Owen Jones says:

We also need Zil lanes.


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS


AddThis Feed Button
Archive


Labels
Guido Reads
Follow

Get every new post delivered to your Inbox.

Join 1,441 other followers