any comments, thoughts, on this stock.

OK, just wondered. I'm a bull at these levels for now. I think this drop is well overdone.

160 might trigger a lot of stop loses.

Just heard on BBC news that interim divi will NOT be paid.
I suspect this saga will rumble on for a while!
Those people who bought on the expectation of a good divi are going to be seriously p*ssed off!

Hasn't made a big difference to the price yet.

I think I can see why NRK have struggled;
Taken from AFX report this afternoon;

As recently as yesterday a spokesman for the bank, which has seen its shares tumble almost 300 pct after the lender was forced to seek emergency funding from the Bank of England, said it would still pay the first half dividend.

An SP fall of 300%???
Maths and percentages not the strong point there then?
;-)
Alan

I 90%, completely agree Alan... :)

Its okay though, cos the Office for National statistics said that of the 108% of people who responded to a survey, 83% didn't respond, 32% didn't understand statistics, but 162% understood them perfectly.

On a sort of similar note, it has been said that economists have successfully predicted five of the last three recessions.

withdrawing the divi is a bit like finger in the dyke stuff ...... f'ed if they do and f'ed if they don't

Tomorrow will see another big drop in NRK once ex-div. Finished at 163p today.

Deutsch Bank are the latest to advise me of changes to their lending practices for sub prime loans.
Reduced LTV, higher underwriting scores and reduced maximum loans.
The problem is more widespread than many commentators think. DB are not small fry by any means.
Alan

PS,
Birmingham Midshires and Morgan Stanley have also restricted their offerings in similar vein. 2 more you could easily call big players.

news out that the company has had a few approaches from various companies. have a look at this latest news and see what you make of it. news on money am.

Take a look at this link showing various analyst valuations which are around 4

http://www.newratings.com/companies/headlines.asp?isin=GB0001452795

Strong potential upside along with todays bid news is excellent for the longs.

The cancelling of the dividend will add liquidity and help the recovery.

now that barkclays have admitted to having a 5.2% shares in northern rock then they would make a good buyer of this company. This news is the latest nrk news on money am. Its all down to what price now.

Action group

Following a run on the bank, the government pledged to guarantee all Northern Rock deposits held in accounts as of midnight, 19 September.

The cancellation of the dividend is another blow for shareholders, who have now joined forces in an action group to promote their interests.

The group has been set up by the UK Shareholders Association (UKSA), which says "many shareholders were persuaded to invest in shares in the company in recent months based on the apparent strength of the business when in reality the company was in great financial difficulty".

The group is opposed to a quick disposal of Northern Rock that might not reflect the true value of its assets.

Shares in the bank - which have lost nearly 75% of their value since it was forced to seek emergency funding - slipped a further 5.2% on Tuesday.

hlyeo98--Have been reading today's posts with interest. If the interim dividend cancalation was announced before the market closed, then that factor is probably discounted in the sp. If the Company is to continue it needs to conserve cash and this cancalation is the right move.

hewittalan6--I think Birmingham Midshires is wholly owned by HBOS ?

janetbennison--I am not too sure whether Barclays have management control of the full stake. ie part may be held as nominees. Still I'm sure the press will have something to say about it.

smiler 0-- re action group. I can see that the cancalation of dividend is a blow if you were expecting the dividend but, further on, it may be seen to of helped to keep the Company trading during these tricky times and assist in presenting a better position in any buy out. As regards investors buying shares based on apparent strength, with all shares, you pay your money and take your chance. Unless the relevant facts were not disclosed in the accounts or announcements I cannot see how there is a case. The FSA didn't seem to think there was any problem. What the majority of the experts failed to see was the weakness with NRK's way of doing business, when wholesale money markets seized up. I agree that the Board should avoid a fire sale of assets.

Just waiting for director resignations. Mr Applegarth will be only too happy to get away from the mess he has created.

I do not think you can place the blame solely on him. Banks are regulated and it is very easy to blame people with hindsight. You must look further a field. I wouldn't be surprised if regulation passing to the FSA from the BOE was a weakness and we may find this changes again in the future. Mr A had a large holding in NRK so I don't think he was doing things in other than good faith. Market conditions that most of bankers did not see coming found him out. Moreover, if matters were dealt with more quietly, as it would have happenend years ago, we would not have seen anything like the current mess.