Technology1 min ago
Sack Vince Cable Now! - Part 1 Lazard
The advisors that Cable used to set the pice for Royal Mail shares was given preferential 'golden ticket' and made £8million when they sold them a day later. The price they set undervalued Royal Mail. They sold if for £1.7Billion, and a week later it was worth £2.7billion. We were diddled out of £1billion.
For such incompetance (or crookery) Cable should be sacked.
// The row over Royal Mail has been inflamed after it emerged that Lazard Asset Management, the investment arm of the Government’s adviser on the historic privatisation, was one of the 16 “priority” investors in the flotation.
Lazard Asset Management was allocated six million shares in the flotation as one of the core investors handpicked to underpin Royal Mail’s initial public offering (IPO). Despite being chosen to form a long-term, stable shareholder base, the investment house sold the stake a few days later making a profit of £8m. //
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For such incompetance (or crookery) Cable should be sacked.
// The row over Royal Mail has been inflamed after it emerged that Lazard Asset Management, the investment arm of the Government’s adviser on the historic privatisation, was one of the 16 “priority” investors in the flotation.
Lazard Asset Management was allocated six million shares in the flotation as one of the core investors handpicked to underpin Royal Mail’s initial public offering (IPO). Despite being chosen to form a long-term, stable shareholder base, the investment house sold the stake a few days later making a profit of £8m. //
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The problem is that it is easy to sit on the side lines and snipe after the event. If he had priced it higher and it had been a flop no doubt you would be relentlessly posting about how incompetent he was.
£1m does seem an awful difference though. I thin it should be looked at closely (and independently) to ensure no dodgy dealing.
£1m does seem an awful difference though. I thin it should be looked at closely (and independently) to ensure no dodgy dealing.
Sack Vince Cable Now! - Part 2 What If Lazard
Can you imagine Gromit's brouhaha and rhetoric if the issue had failed?
Much on the same lines me postulates adjusted for not getting his sums right or those of his advisers.
And this from a man who supports a party that sold the UK gold reserves at cheap prices, costing the economy a fortune in hindsight, as Gromit's comments are based, on hindsight...
Can you imagine Gromit's brouhaha and rhetoric if the issue had failed?
Much on the same lines me postulates adjusted for not getting his sums right or those of his advisers.
And this from a man who supports a party that sold the UK gold reserves at cheap prices, costing the economy a fortune in hindsight, as Gromit's comments are based, on hindsight...
Exactly my point, conservatism (not Tory politics) keeps them from going close to the edge price wise and to err on the safe side of the price.....therefore trying to slate VC, or any Minister of what persuasion for 'failure' is a bit rich. However, hindsight opens up the gold seam, so to speak and, unfortunately for the Labour gold reserves story.
I worked with Vince in my distant past and he's a heck of an economist, especially on energy matters/policy.
I worked with Vince in my distant past and he's a heck of an economist, especially on energy matters/policy.
// Gromit's comments are based, on hindsight... //
// hindsight opens up the gold seam //
It wasn't hindsight, as soon as the price was announced, many realised the company was undervalued. The FT said it was, and a few days before the sale, Labour said so and was cannily spot on...
// Royal Mail undervalued, says Labour's Umunna
The privatisation of Royal Mail undervalues the company by as much as a £1bn, with City investors and hedge funds being the biggest beneficiaries of the share offering, says Umunna.
Speaking to BBC Radio 4's Today programme, Mr Umunna said that the sale is "short changing" taxpayers. //
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// hindsight opens up the gold seam //
It wasn't hindsight, as soon as the price was announced, many realised the company was undervalued. The FT said it was, and a few days before the sale, Labour said so and was cannily spot on...
// Royal Mail undervalued, says Labour's Umunna
The privatisation of Royal Mail undervalues the company by as much as a £1bn, with City investors and hedge funds being the biggest beneficiaries of the share offering, says Umunna.
Speaking to BBC Radio 4's Today programme, Mr Umunna said that the sale is "short changing" taxpayers. //
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