tabasco

It that what represents part of your life

Masterwould that be line dancing?I can also imagine you being very goodpink shirts with tasselsplatforms with chiselsbright coloured head gear.trousers that look queerare these a few of your favourite things?

Do you mean a dancing Queen?

Not my CUP of TEA but maybe that is your taste
Were you getting Kinky as you were typping, you look very exciting on it?

You would be surprise how many young girls make themself available


If I remember well, it was an Armany blue jeans (a bit heavy as is almost winter ) with a grey shirt
and two colour brown shoes with grey socks, not head gear as I still have all my hair though
starting to go grey ( but ladies like it, I heard )


Title: Abba - Dancing Queen lyrics

You can dance, you can jive, having the time of your life
See that girl, watch that scene, dig in the dancing queen

Friday night and the lights are low
Looking out for the place to go
Where they play the right music, getting in the swing
You come in to look for a king
Anybody could be that guy
Night is young and the music�s high
With a bit of rock music, everything is fine
You�re in the mood for a dance
And when you get the chance...

You are the dancing queen, young and sweet, only seventeen
Dancing queen, feel the beat from the tambourine
You can dance, you can jive, having the time of your life
See that girl, watch that scene, dig in the dancing queen

You�re a teaser, you turn �em on
Leave them burning and then you�re gone
Looking out for another, anyone will do
You�re in the mood for a dance
And when you get the chance...

You are the dancing queen, young and sweet, only seventeen
Dancing queen, feel the beat from the tambourine
You can dance, you can jive, having the time of your life
See that girl, watch that scene, dig in the dancing queen

I have seen the musical six times with the family over the yearsgood night outif you ever go dont turn right when you leave the theatreunless you are a mate of the gay boy potty

I have not, but heard the song far too long now, not my favorites for dancing, but one has to appreciate the melodical part of it

A proud mama and a QUEEN

Good location on the dark, but not a good choice on the dark for taste, you may get sick VAT

No one said anything about tomorrow's Right Issue price

Well it was well rumour that is going to be on a large discount, maybe 40%.

So taking the price of 87p on Fiday and 85p today, it work out around 51.5p, so will make a round figure 50p

2 for 1 shares at 40p

No price yet till 24 November 09, 2 days prior to AGM

Principal terms of the Proposals
Rights Issue
The Group is proposing to raise GBP13.5 billion by way of the Rights Issue.
The Rights Issue is fully underwritten pursuant to the Rights Issue Underwriting
Agreement and the HMT Undertaking to Subscribe. The Issue Price at which
Qualifying Shareholders will be invited to subscribe for New Shares will be
determined by the Company and the Underwriters in advance of the General Meeting
and will be at a discount to TERP. The Issue Price is expected to be announced
on 24 November 2009, two days before the General Meeting.

It is expected that Admission will occur, and that dealings in the New Shares on
the London Stock Exchange will commence at 8.00 a.m. on 27 November 2009.

3 November 2009
LLOYDS BANKING GROUP - INTERIM MANAGEMENT STATEMENT

Key highlights*

The Group has continued to deliver a good revenue performance in the third quarter of 2009, with similar trends, excluding gains on liability management transactions, to those delivered in the first half of the year.

The Group's banking net interest margin has shown clear signs of stabilising and was flat in the third quarter of 2009, compared to the first half of the year.

The Group's costs in the nine months to 30 September 2009 were 2 per cent lower than in the equivalent prior period, as we continued to deliver a robust cost performance.

Excellent progress has continued to be made on the integration of the enlarged Group, with the achievement of 50 million higher run-rate cost synergies than those previously announced.

The run-rate of overall impairments has slowed in the third quarter of the year. As a result, we continue to expect impairments to fall significantly in the second half of 2009, compared to the first half of the year.

As previously announced, we continue to expect the Group to report a loss before tax for 2009, excluding the impact of the 11.2 billion credit relating to negative goodwill.

Eric Daniels, Group Chief Executive, commented:

"The Group has delivered a robust business performance over the last few months, in what remained a challenging, albeit stabilising, economic environment. Our core relationship businesses have, once again, performed well with good revenue growth, as margins begin to stabilise, and we have achieved a strong cost performance. We have made further excellent progress on the integration of the enlarged Group, with the achievement of higher than previously announced cost synergies in the third quarter of the year.

"On impairments, the slowdown in the run-rate in the third quarter provides additional comfort that the Group's overall impairment charge has peaked, and that there will be a significant reduction in impairments in the second half of 2009. We have also significantly improved our short-term liquidity position.

"In all key areas of the Group we are delivering in line with recent guidance. Consistent delivery against these goals underpins our ability to achieve the Group's long-term growth opportunities."

*Unless otherwise stated, 2009 performance comparisons relate to the equivalent period in 2008 for the enlarged Group's aggregated continuing businesses.

Good revenue growth in the third quarter of 2009

The Group has delivered good revenue growth in the third quarter of 2009 with a strong performance in its core relationship businesses, excluding the gains on liability management transactions. During the third quarter, the Group banking net interest margin has shown clear signs of stabilising and continues to benefit from ongoing asset repricing which has offset the impact of lower deposit margins and higher funding costs. The third quarter margin was flat compared to the first half of 2009.

Revenue trends in Retail reflected a solid overall business performance. We have continued to build momentum in customer deposits with balances increasing 2.0 billion during the third quarter. In lending, our unsecured balances have remained broadly flat, reflecting subdued customer demand, and whilst mortgage markets have also remained relatively subdued throughout the industry, our gross mortgage lending in the first nine months of the year totalled 26 billion.

Revenue growth in our Wholesale business remained very strong in the first nine months of the year, largely reflecting the absence of last year's mark-to-market losses on treasury assets, although the growth rate has slowed during the third quarter. There was a continued strong cross-selling performance, supported by improved spreads and favourable trading conditions in Treasury and Trading.

In Wealth and International, revenue trends improved in the third quarter compared to the first half, reflecting higher customer numbers and strengthening equity markets in Wealth, and the impact of higher margins from the continued repricing of assets in our International businesses.

In Insurance, new business sales in our life, pensions and investments businesses were 27 per cent lower than in the first nine months of 2008, reflecting extremely difficult market conditions which have led to a general market-wide slowdown in the sale of life, pensions and investment products. Sales through the intermediated distribution channel have continued to be particularly challenging although this has been partially offset by a relatively resilient performance in the bancassurance channel.

Robust Group cost performance

The Group has an excellent track record in managing its cost base, and has continued to deliver a robust cost performance, resulting in the Group's costs being 2 per cent lower than the same period last year. We have continued to make significant progress in capturing integration related cost savings and 250 million of cost synergies and other operational efficiencies have already been realised in the first nine months of the year to support a target for 2009 which has now been increased to 450 million. We expect these will represent annual run-rate savings of approximately 750 million by the year-end, some 50 million higher than our previously announced expected run-rate. The Group remains confident that it will meet its commitment to deliver more than 1.5 billion run-rate synergies and other operating efficiencies by the end of 2011, notwithstanding the business impact of the State Aid remedies which the Group expects to be required by the European Commission.

Overall impairment levels have peaked, with a reducing run-rate

During the third quarter of the year the Group has, as expected, experienced a reduction in the run-rate of overall impairment provisions compared to the first half of the year. However, as expected at the time of the Group's 2009 interim results we have experienced a significant year-to-date rise in the impairment charge compared to last year, reflecting falls in the value of commercial real estate, the impact of economic deterioration (including the effects of rising unemployment) and reduced corporate cash flows.

In Retail, impairment losses in the first nine months of 2009 totalled 3.3 billion. Impairment losses on the secured lending portfolio in the first nine months totalled 0.8 billion compared to 0.6 billion in the first half of the year. Arrears levels have improved during the quarter and remain significantly better than the industry average. As expected, the unsecured lending portfolio has continued to show signs of stress in the third quarter with impairment losses totalling 2.5 billion in the nine months to 30 September 2009 (2009H1: 1.6 billion). This was primarily due to the ongoing impact of rising unemployment levels. As previously announced, we expect to see a moderate increase in the overall Retail impairment charge in the second half of the year, largely reflecting the anticipated impact of rising unemployment levels. We continue to expect the retail impairment charge to be lower in 2010 than in 2009. We currently expect residential house prices to be flat in 2009 and 2010.

The Wholesale charge for impairment losses totalled 3.2 billion in the third quarter of the year (2009H1: 9.7 billion), reflecting continuing declines in commercial property prices and reducing levels of corporate cash flows. There was however, as expected, a significant reduction in the run-rate of impairment provisioning in the quarter. As previously indicated, we continue to believe the overall Wholesale impairment charge peaked in the first half of 2009 and expect a significant reduction in the Wholesale impairment charge in the second half of 2009 and a further reduction in 2010. We currently expect commercial real estate prices to fall 15 per cent in 2009 and be flat in 2010.

In our Wealth and International business we continue to have ongoing concerns with regard to the outlook for the Irish economy and impairments remain at a high level totalling 0.9 billion in the third quarter (2009H1: 1.5 billion), reflecting particularly significant provisions against our Irish commercial real estate portfolio. We now expect the high level of impairments to continue throughout 2009 and in 2010.

Overall, impairment losses for the Group in the first nine months totalled 18.6 billion (2009H1: 13.4 billion), with a significant reduction in the run-rate in the third quarter of the year. We believe the overall impairment charge peaked in the first half of 2009. We continue to believe, given our current economic outlook, that the charge in the second half of 2009 will be significantly lower than the charge in the first half of 2009. Thereafter, we expect the 2010 charge to be significantly lower than the 2009 charge.

Insurance volatility

A large proportion of the investments relating to the Group's insurance business is invested in assets which are expected to be held on a long-term basis and which are inherently subject to short-term investment market fluctuations. Whilst it is expected that those investments will provide enhanced returns over the longer term, the short-term impact of investment market volatility can be significant. In the third quarter of 2009 we experienced positive volatility, excluding policyholder interests volatility, of 0.7 billion, reflecting the significant strengthening of equity markets and narrowing credit spreads in fixed income markets. The nine months to 30 September 2009 therefore resulted in a positive volatility, excluding policyholder interests volatility, of 0.2 billion.

Improving liquidity and funding position

Customer lending at 30 September 2009 totalled 649 billion, compared to 653 billion at 30 June 2009, as a reduction of balances from portfolios in run-off offset growth from the Group's core relationship businesses. During the third quarter, customer deposits, excluding repo balances, increased to 373 billion, from 370 billion at 30 June 2009, driven by good growth in retail balances. As a result, the loan-to-deposit ratio at 30 September 2009 improved by 2 percentage points during the third quarter of the year.

Over the last three months we have continued to see further increases and improvements in the capacity of wholesale funding markets and during the third quarter we issued a 4 billion Residential Mortgage Backed Securities (RMBS) transaction and a 10 year non Government-guaranteed 1.5 billion bond. During the third quarter of the year the Group has maintained a liquid asset portfolio of over 75 billion of high quality government debt and cash reserves. This liquidity buffer is a multiple of the Group's current regulatory requirements and is consistent with our estimate of requirements under the recently published FSA Policy Statement (PS09/16).

Market likes the statement so far

On a well down market FTSE losing 65 points the shares are risinng Strongly 88.50p +3.50p

I take it that the qualifying date for the rights issue will be at some future date

Fully Underwritten Rights Issue

To Raise: c.13.5bn / $22.1bn
New shares to be issued at a price equal to the higher of (i) 15 pence per new share and (ii) a price per new share which is within a range of 38% to 42% discount to TERP

Final rights issue price expected to be announced on or around 24 November

HM Government has undertaken to subscribe in full for its 43% entitlement
Expected Timetable:
Nov 3rd: Transaction announced to the market
Nov 24th: Announcement of Final Rights Issue Price
Nov 26th: General Meeting
Nov 26th: Subscription period starts
Nov 27th: Rights commence trading
Dec 11th: End of subscription and rights trading period
Dec 14th: Announcement of take-up and Rump Placement (if any)
Dec 17th: Settlement of Rump
Joint Global Co-Ordinators and Bookrunners: BofA Merrill Lynch, Citi, UBS
Joint Bookrunners: Goldman Sachs, HSBC, JP Morgan
Co-Bookrunner: Lloyds TSB Corporate Markets

am I alone in thinking that allowing the payment of a dividend would make the task much easier, boost the sp and get the gov off our backs in double quick time.

surely playing with N Rock & RBS would keep any chancelor happy for many a long day.

END-OF-DAY REPORT:

Lloyds had a bumpy ride but eventually closed up 2.33p at 87.33p, the best blue chip performer of the day, after announcing it will raise 21bn through a 13.5bn rights issue and 7.5bn swap of existing debt for contingent capital. The government will take up its rights, investing 5.7bn net of an underwriting fee to keep its stake in the bank at 43%.

Banks get 31 billion more aid, agree sell-offs
Tue 03 Nov, 2009 16:56 -- By Clara Ferreira-Marques and Steve Slater

LONDON (Reuters) - Britain's two largest retail banks secured another 31 billion pounds from the government on Tuesday and agreed to sell branches and key businesses to appease EU competition concerns over state aid.

Royal Bank of Scotland and Lloyds Banking Group also accepted drastic caps on bankers' bonuses in deals that pave the way for Britain to begin selling the bank stakes it bought during the crisis -- a crucial source of funds as the country struggles with a ballooning budget deficit.

Lloyds also freed itself from a government insurance scheme for bad debts by raising 13.5 billion pounds in the world's largest ever rights issue, as part of a 21 billion-pound capital raising.

PUNITIVE ASSET SALES

The government, which will inject 25.5 billion pounds into RBS and pay Lloyds a net 5.7 billion pounds to take up its rights in the cash call, said the disposals would shake up competition in retail banking, bringing "at least three new banks" to Britain's high streets over the next four years.

Lloyds and RBS will between them have to sell off businesses representing almost 10 percent of the UK retail banking market. Only new entrants or "small players" in the market will be allowed to bid, raising doubts about which buyers will step up.

Lloyds, which has avoided harsher penalties by staying out of the APS, said it would sell 600 of its retail branches, with disposals including Lloyds TSB Scotland, Cheltenham & Gloucester branches and its Intelligent Finance and the TSB brand.

To address EU concerns, it will face a dividend ban for two years and a prohibition on acquisitions for up to four years.

RBS will be forced to sell NatWest branches in Scotland

LLOYDS DEAL

To sidestep the APS, Lloyds confirmed market expectations it would raise 21 billion pounds via a discounted rights issue and by swapping 7.5 billion pounds in existing debt into contingent capital, which will support its capital requirements.

The move will allow Lloyds to avoid the fees associated with the costly APS scheme as the economy improves, and will cap the government's stake at 43 percent. However, Lloyds said it will pay the government a 2.5 billion pound break fee to avoid the APS.

The fully underwritten 13.5 billion-pound cash call, which will involve a massive operation to inform Lloyds's 2.8 million small shareholders, will be priced on Nov 24 at the higher of either 15p or a 38-42 percent discount to the ex-rights price.

Lloyds said it had received backing from shareholders and bond investors, but the response on Tuesday was mixed.

"This deal does not look especially attractive ... They can't pay a dividend until 2012 at least and we still have all the secondary issuance to come," one top ten investor said. "I find myself very underwhelmed."

But another top 10 investor added: "The issue will go through successfully. The deal is done effectively."

1:23 PM
RBS and Lloyds will take years to break free from the taxpayer's grip
Thanks to the European Union, the banking sector in the UK is set to change out of all recognition for better, or worse. Billion of pounds more need to be ploughed into our two worst casualties of the banking meltdown, Royal Bank of Scotland and Lloyds Banking Group, which also includes the basket case HBOS.

The Government ploughed a total of 37 billion into the pair of them last year and now needs to inject a further 5.7 billion into Lloyds so that it can turn to the City in order to raise a total of 21 billion. This will include a record breaking 13 billion rights issue at a deeply discounted level to the current ruling price of 86p.

But the EU doesn't like banks that are supported by taxpayers cash. It says that gives them an unfair competitive advantage. So, in return for the extra cash, Lloyds must follow the lead of other European banks and make itself smaller. It must divest itself of a total of 600 high street branches, including all 164 branches of Cheltenham & Gloucester, all of Lloyds TSB in Scotland and a further 280 branches across England and Wales. Also going within the next four years is the TSB brand name and it on-line business Intelligent Finance. RBS is unlikely to escape the cull in return for more taxpayers cash and will also see the Government's stake grow from 70% to a whopping 84%.

All these changes will make life exceedingly difficult for stock market investors. Existing shareholders at Lloyds must decided if they want to support the rights issue, commit more good money after bad and still face the prospect of being further diluted without seeing a return on their investment.

Others may look at the terms of the rights issue and be tempted to buy the heavily discounted shares, lock them away and see what happens. Then there are the fund managers who may look at both banks and wonder how you set about valuing them when a year down the line they may have changed out of all recognition.

Alan Capper asset allocation specialist at Pinner Park Investments says that if investors believe that either Lloyds or RBS shares look unbelievably cheap, they buy them and lock them away for the long-term. With the Government's stake in RBS set to grow, it is unlikely institutional investors will invest further in RBS. They will also have to think long and hard about allocating Lloyds any further funds. By any yardstick, these remains high risk investments. It will be years before either bank are able to break free of the taxpayers grip and, by then, who knows what shape the UK banking industry will be in.

looks like an almighty government f?ck up as usual...........a year ago they smashed competition rules for llloy and HBOS to merge.........now they saying we need lots of smaller banks for competition.

if a private company acted like this, lawsuits all over the place would be aimed at management........anyone wanting to take darling and brown to court?

all these rights issue........several each for all banks........what a waste of money with further FSA incompetent staff and trasury mulling over stuff......plus american banks charging huge sums for rights issue.

gov got lloy for nothing almost now as almost 3 billion paid back already.....and now 2.5 billion to be paid to not do this insurance crap.

northern rock have had the most money and they are just a tiny bank in north east england........ludicrous! and why are newcastlr united sponsored with a nationalised bank .......why are paying for 11 silly geordies running around with northern rock on their tops.

found this link to that dutch bitch.........but that was early in 2009 so the warning was there

http://purestyledc.com/top-10-most-evil-people-in-the-world-today/

text below says this bitch is 4th most evil in world.......yes, they called her a bitch!

Number 4: Neelie Kroes
Accused of:
Monopolistic Powers
Being a bitch
Egotistical
Didnt think we could go an entire ten with at least one woman did you? Who is Neelie Kroes you ask yourself? That in itself makes this bitch evil. She is the European Commissioner for Competition aka the Head Bitch in Charge of the EU.

So what does she do? She comes down on every single U.S. company that is moderately successful doing any business in Europe. While fining Microsoft a whopping 497 million, plus interest! She also has gone after Apple & Google as well. Why? Monopoly? Nope. Greed. Pushing those companies to the point of compliance. When they get pushed too far and threaten to pull out of Europe, she backs off, but like a snake, only temporarily to regroup and attack again. Hey, lets face it, we all know MS is evil, but they are our evil company and if Europe doesnt like it, tell them to build their own operating systems.

Oh, and she switches allegiances to whomever pays her the most. Not unlike other politicians, but then again, not all control all of Europe.