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

David Ward’s Holocaust Denier Friends | Harry's Place
Grayling: Bercow Faces Questions | Sun
Paul Flynn Could Learn a Lot From a Trip to Israel | Breitbart
50 Shades of Grayling | Speccie
Bercow’s £12,000 of VIP Sporting Freebies | Sun
Aldous Huxley v George Orwell | FatPita
Blinkered BBC is Ripe for Reform | David Keighley
Calls for Bercow to Face Inquiry | Mail
Labour Mad to Fight Tories on Tax | Dan Hodges
Right to be Forgotten is a Disaster | Padraig Reidy
Dave Could Be Finished Before 50 | James Forsyth


new-advert
Westbourne-Change-Opinion Guido-hot-button (1)


Knifed former civil service chief Bob Kerslake on his recent troubles:

“Many thks for kind wishes following back opn. Incision measured 16cm. A pretty big knife in the back! Photos on request.”



TJ says:

And i’ve noticed that 100% of Guido Fawkes staff are men. Looks like Guido has a woman problem. Or is it an hypocrisy problem?


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS




AddThis Feed Button
Archive


Labels
Guido Reads