Norwich Union

[Intenso 0]

Having heard the awful news that 850 Norwich Union employees are to lose their jobs I couldn''t but reflect on their ''investment'' in Ipswich Town football club.  Somebody authorised a £30m loan to a club who do not even own their ground and within a short time time David ( a financial role model for smaller clubs ) Sheepshank had to admit they could not pay back the capital repayments. Worse was to come when they were unable to pay the interest and had to swap two years repayments for N U having ten per cent of the club.

How must the employees, facing the dole queue, feel when their employer prefers to support a football club guilty of self inflicted financial mismanagement ?  Best wishes and a speedy return to work boys and girls.

 

[pitch fork 0]

TOTALLY AGREE SUCH A SHAME THAT IN THIS AGE,HONESTY AND HARD WORK DOESNT COME INTO IT,EVERY BUISNESS INCLUDING FOOTBALL CARES ABOUT THERE OWN BACK POCKET.

I WORKED FOR NORWCIH UNION THEY USED TO BE A COMPANY THAT NORWCIH COULD BE PROUD OF NOT ANYMORE. I URGE ANYONE WHO DOESNT KNOW WHAT THEY WONT TO DO IN LIFE WORK THERE TAKE THE MONEY AND RUN,THATS WHAT I HAVE DONE!

THIS HAS NOTHING TO DO WITH FOOTBALL BUT IT DOES WITH THE PEOPLE OF NORWICH.

LETS HOPE EVERYONE GETS BACK TO WORK SOON,

[canary cherub 1]

[quote user="Intenso"]

Having heard the awful news that 850 Norwich Union employees are to lose their jobs I couldn''t but reflect on their ''investment'' in Ipswich Town football club.  Somebody authorised a £30m loan to a club who do not even own their ground and within a short time time David ( a financial role model for smaller clubs ) Sheepshank had to admit they could not pay back the capital repayments. Worse was to come when they were unable to pay the interest and had to swap two years repayments for N U having ten per cent of the club.

How must the employees, facing the dole queue, feel when their employer prefers to support a football club guilty of self inflicted financial mismanagement ?  Best wishes and a speedy return to work boys and girls.

 

[/quote]

Are they planning to move the Scum to India? . . . I don''t think the subcontinent really deserves that.

On a more serious note, in the last ten years or so Norwich has imo become far too focused on one sector of the economy, ie. insurance/financial services.  If there''s a general downturn in that area, things could get much worse. 

The city needs to diversify.  Ian Gibson MP appears to recognise that in his plans for Norwich to become a "science city".

[Saint Canary 0]

I don''t think it is a case of NU supporting a football club, more a case of taking what little was on offer.  It was either take the shares or risk the club going out of business and writing off a bad debt.

I feel for the NU workers who are left without a job.  Could be worse though, Ford are cutting 75,000 jobs in the US.

Profit wins over people everytime in business.

[Evil Monkey 52]

The two situations are entirely seperate and should not be confused.

I worked for the Onion until very recently, and have found that my old

team is being moved to a different department, away from the big wigs

and simply "hidden" - no one knew what to do with it, so they palmed it

off to someone else.  This move is nothing to do with money, it is

to do with mis-management from on high, which is the real cancer at the

heart of NU.

Too many people with too much power and not an ounce of intelligence between them...

On the money side, though, things are also awry.  They recently

put up their premiums by 16% quoting "increased claims costs".  My

old department had been working towards and delivering massive savings

on claims, upwards of about £60m a year, and to now hear that they''re

blaming claims costs for this increase is unbelievable.  Quite

simply, it is all about the Benjamins...

Luckily no other insurance company has yet followed suit, and with many

of them priding themselves on having UK based call centres, this move

is going to further alienate NU (hopefully) and they''ll get what they

deserve - takeover by the Pru!

(This rant is by no means intended to be detrimental to the workers of

NU, just the management.  I hope no one on this board has been

affected by the job cuts and, if so, wish you well.  Though you''ll

probably find it''s a blessing in disguise!)

[Rudolph Hucker 0]

Just blame Nigel Worthington!

[Unlucky Fried Kitten 0]

Terrible news! Added to the NJP job losses, that''s over 1100 people who have lost their jobs in Norwich in the last fortnight. Quite a few of those people are going to struggle to find comparable pay elsewhere. Still, as long as we can create employment for Indians, both here and abroad, everything will be alright.

[Karl Pilkington 0]

[quote user="Evil Monkey"]The two situations are entirely seperate and should not be confused.

I worked for the Onion until very recently, and have found that my old team is being moved to a different department, away from the big wigs and simply "hidden" - no one knew what to do with it, so they palmed it off to someone else.  This move is nothing to do with money, it is to do with mis-management from on high, which is the real cancer at the heart of NU.

Too many people with too much power and not an ounce of intelligence between them...

On the money side, though, things are also awry.  They recently put up their premiums by 16% quoting "increased claims costs".  My old department had been working towards and delivering massive savings on claims, upwards of about £60m a year, and to now hear that they''re blaming claims costs for this increase is unbelievable.  Quite simply, it is all about the Benjamins...

Luckily no other insurance company has yet followed suit, and with many of them priding themselves on having UK based call centres, this move is going to further alienate NU (hopefully) and they''ll get what they deserve - takeover by the Pru!

(This rant is by no means intended to be detrimental to the workers of NU, just the management.  I hope no one on this board has been affected by the job cuts and, if so, wish you well.  Though you''ll probably find it''s a blessing in disguise!)

[/quote]

Oi Monkey Boy,

I have a retort from a member of your "old team".

- The change for our team is nothing to do with the job cuts and is therefore irrelevant with regard to the conversation being held on that post.

- He doesn''t work here anymore and therefore it is none of his concern

- There are reasons behind the move that is is not aware of, and would not even listen to if he knew them

- We are not stupid, and would not blindly agree to something which we did not feel was the right move for the team, which currently sits in a department it is not particularly related to most of the time.

End of message

 

 

 

 

[Who killed the Croutons 0]

IFT/EM I dont think this is the place debating NU internal policy this is a NORWICH CITY MB not NUs Intranet!! Come on guys back to football.... 

[Rudolph Hucker 0]

Quite right Croutons. If it has to be debated anywhere it should be Bombay!

[YankeeCanary 0]

Rudolph, I believe you mean Mumbai. Try to keep up please.

[Rudolph Hucker 0]

Just been to the local Indian and it''s still Bombay mix Yankee.

[Rudolph Hucker 0]

''Hello? Norwich Union thread?

Yes, I''ve got a 1990 World Atlas and I want Yankee Canary to ''Quote Me Happy!''