any comments, thoughts, on this stock.

Had a quick look at their balance sheet with Interim 2007 figures. Equity attributable to equity shareholders was just over 2.3BN, but with total assets 113BN, including "Available for sale Securities" of 8BN (whatever they are) it does not take a maths degree to suggest that with the brand name shot to bits (i.e.imo little or no goodwill) that 2.3BN of surplus could quickly evaporate. Feel sorry for the employees, many of whom must have been sucked in as shareholders, but hopefully most on SAYE schemes where at least they will get some interest and their money back. Interesting that Interim report clearly states their reliance on debt securitisation for funding - not sure what the FSA has been doing in monitoring it (or indeed if they have a clue about the vast numbers flying around in the whole sector's balance sheets on esoteric items a layman cannot understand, some of which may yet come home to roost)

Telegraph: Lloyds back in hunt for Northern Rock

Times: MPs braced for avalanche of protests from Rock shareholders

Possibly not good news for shareholders though......

Strawbs.

I thought that it was common knowledge that Shareholders are way down in the priority list of creditors in these type of scenarios. It's just part of the risk for holding shares (no matter how many times some people cry foul). I also agree with BA above in post 469 by the way.

to paraphrase the telegraph article ...... Lloyds had initially thought of bidding 200/300 but under their revised bid, shareholders will get nothing ..... so what is it with the smoke and mirrors that is still holding sp at 180?

zero for shareholders is exactly what I thought woukld happen.

I hope is doesn't but it looked on the cards from the inital explosion of the company.

The bits will stay blown apart.

Just to play devils advocate..............
The company only becomes illiquid on the sale of its secured book. The money mae available by the BoE is more than that required to stay liquid, so I wonder what the rules say about this.
For me, selling up and realising a loss is not necessarily the only way, and if they did do it, then the BoE loan would have to be used to make up the shortfall for depositors.
They could simply stop lending money out for the time being and go on a huge cost cutting exercise across the loans sales and administration division. This could, in effect, make their deposit base justifiable and profitable and then rebuild a new business model, based on deposits rather than loans. In much the same way as mutuals used to do in the 70's.
Not saying it is ideal, or even good for shareholders, but it may be better for everyone than crystallising losses to the benefit of a few asset strippers.
Alan

Perhaps I have missed something, I was of the opinion that shareholders owned companies and not the Treasury. I may be naive to think that "turkeys will vote for Christmas" but perhaps shareholders should call for the resignation of the directors of NRK and then vote for the winding up of the company if they are to end up with nothing anyway.Who actually controls NRK at the moment?

technically the shareholders, but in practice it is the institutions and bond holders who hold the gift of death which, though i have a subjective interest, is almost certainly imminent

Who was it said in the news that everyone who had bonds, savings with N/R would NOT lose a penny. where does this statement stand now

i think bond holders in the context of the the one part = debenture holders, whereas bond holders of the other part are like savers etc ..... it is this latter class who are protected.

i see the bond holders (debenture holders?) are trying to protect their interest (and why not?) by approaching BoE for help in some way .... i really cannot see that being offered, for that cannot be pro bono, so one is left with 2/3 different variations, all of which mean that RNK shares will shortly be worthless.

Know RNK are struggling, but a bit harsh to bracket them with NRK!

just getting over-excited at the prospect!

Wonder what this week will bring.

Not sure why streaming prices not working on MoneyAM, but prices seem to be nose-diving. Not sure whether you can trust what's being written, but hedge fund interest in co doesn't seem to leave shareholders with any hope...

Firmly with the bears, gave me a few nervous moments last week, but sentiment now turning strongly against IMHO.

Not a happy bull!

I sold my dabble out at 187p last week on last sp spike at a loss. Can only say that will be useful in offsetting profits. Still be surprised if Company goes to the wall completely with nothing to shareholders. We shall see.

as a bear of this stock, i would be surprised if 100 was not hit, and 50 would scarcely be wildy optimistic .... NIL is a bit more difficult to call, but certainly well on the cards

Down to 160p now...Sell