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Northern Rock (NRK)     

irlee57 - 13 Aug 2007 09:03

any comments, thoughts, on this stock.

halifax - 29 Sep 2007 19:03 - 481 of 1029

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?

cynic - 29 Sep 2007 19:42 - 482 of 1029

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

mojo47 - 30 Sep 2007 00:16 - 483 of 1029

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

cynic - 30 Sep 2007 07:42 - 484 of 1029

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.

cynic - 30 Sep 2007 15:39 - 485 of 1029

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.

partridge - 30 Sep 2007 16:16 - 486 of 1029

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

cynic - 30 Sep 2007 16:43 - 487 of 1029

just getting over-excited at the prospect!

Big Al - 01 Oct 2007 07:39 - 488 of 1029

Wonder what this week will bring.

ockieb - 01 Oct 2007 08:14 - 489 of 1029

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...

steveo - 01 Oct 2007 08:16 - 490 of 1029

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

ockieb - 01 Oct 2007 08:18 - 491 of 1029

Not a happy bull!

Guscavalier - 01 Oct 2007 08:26 - 492 of 1029

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.

cynic - 01 Oct 2007 08:29 - 493 of 1029

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

hlyeo98 - 01 Oct 2007 08:37 - 494 of 1029

Down to 160p now...Sell

cynic - 01 Oct 2007 08:39 - 495 of 1029

150 actually, and still falling .... at some point, there will surely(?) be an up-spike, but that would arguably be another good time to sell

halifax - 01 Oct 2007 10:47 - 496 of 1029

It will be interesting to see what RAB do next.

hlyeo98 - 01 Oct 2007 11:38 - 497 of 1029

LONDON (Reuters) - Shares in beleaguered bank Northern Rock fell more than 17 percent early on Monday on fresh concerns of a sharply discounted sale and amid negative sentiment across the financial sector.

The Sunday Telegraph reported that the Treasury had given two U.S. hedge funds -- JC Flowers and Cerberus -- permission to start takeover talks with the stricken lender, sparking fresh concerns over a firesale of its assets that would leave shareholders with virtually nothing.

Reports also revived talk Lloyds TSB could take on Northern Rock, but again at a sharp discount.

One trader said a Lloyds takeover would put Northern Rock in administration first, "which means that shareholders get diddly-nothing".

Northern Rock, which has been engulfed in crisis since being offered emergency financing from the Bank of England last month, said last week it had received approaches including a possible takeover offer -- but said it had held no talks on price.

Northern Rock shares, down almost 90 percent from the year's high, were trading at 152 pence at 8:44 a.m. on Monday, down 15.2 percent, having touched a fresh record low of 144.5 pence.

"The stock moves on speculation of the outcome of a sale, regardless of actual value -- it's all about speculation on the extent of the discount at which it will be sold. On a down day like today, that's exacerbated," one analyst said.

Shares across the financial sector were hit on Monday by news of a profit warning from investment bank UBS.

cynic - 01 Oct 2007 11:55 - 498 of 1029

i remain more than happy to keep running my short, and remain amazed that sp still holds 150 or thereabouts .... no doubt i shall be taught a lesson when someone puts an unequivocal 2.50 on the table (or will that be 2.50 for the whole company?)

be that as it may, but it is very much shorter odds than a racing certainty that BoE/gov't will not allow themselves to be suckered into a position where they will seem to be feather-bedding shareholders

hlyeo98 - 01 Oct 2007 11:59 - 499 of 1029

I am shorting NRK too, cynic...can't see us losing at this point.

halifax - 01 Oct 2007 12:04 - 500 of 1029

It is quite amazing that with all the highly paid "brain power" in the Treasory, BOE and the FSA they cannot come up with a sensible solution to put NRK into receivership. Or now are they afraid by rushing in to support NRK they wont be able to recover tax payers money?
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