November 18th, 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

India’s Modi Bypasses Mainstream Media | Index
Bercow on the Knife Edge | Quentin Letts
Welcome to Mississippi | Conservative Women
LibDems Select Hancock Replacement | Blue Guerilla
Carswell Resigning: “Moment Labour Won Election” | Labour Uncut
Why We Need Change | Douglas Carswell
The Howard Roark of Westminster | Guardian
Carswell, the Clacton Cassandra | James Ford
Love Bomb Carswell | ConservativeHome
Denis MacShane’s Ex is Now Hacked Off Spokesman | Speccie
How the Carswell Story Unfolded | Sky News


VOTER-RECALL
Get the book Find out more about PLMR


Douglas Carswell’s side-kick Dan Hannan MEP pours water on the obvious question:

“I won’t be joining UKIP, though I wish Douglas Carswell all the best. He has been a superb MP, and it’s honourable to stand for re-election.”



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 1,436 other followers