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Northern Rock


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Independent

 

It looks unlikely that us tax payers are going to see any of our ?25Billion (estimated) back any time soon. Northern Rock, apparently, can't be seen to be making a profit because that would look like it had an unfair advantage being backed by the government. A true Catch 22 situation. Well done Alistair, you will go far (Australia perhaps?) :roll::roll::roll:

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  • 2 weeks later...

Independent:

 

"Northern Rock will ignite a storm of controversy tomorrow when it reveals that its former boss Adam Applegarth received a ?750,000 pay-off when he left last December.

 

Applegarth, who is 46, is also entitled to draw on a pension pot of ?2.5m at the age of 55, built up since joining the bank as a graduate trainee almost 20 years ago. Experts say that could bring him retirement benefits of up to ?200,000 a year."

 

Rubbing salt into the wound as they say.

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