Jump to content
Sign in to follow this  
Carrow89

Boycotting NU

Recommended Posts

I didn''t take much notice when some idiot at the pub said he was going to write to NU and tell them that he wouldn''t be renewing his car insurance with them, but he turned up last night with a copy of the letter. Apparently a few others are doing the same at his workplace.Not sure what it will do but by the depth of feeling amongst the few having a jar last night I wouldn''t be surprised if others in, and outside, of Norfolk are doing the same.

Share this post


Link to post
Share on other sites

I''ve always thought the level of support we get from NU is a disgrace, they throw money around in sport not very little comes to us.

I think we should boycott them for any number of reasons not just because they are reducing the debt from down the road

Share this post


Link to post
Share on other sites
I stopped using NU when they wanted £400 more to insure my car than another "reputable" broker.

Share this post


Link to post
Share on other sites
At least you''ve still got your job Duffman - but for how much longer eh?They closed us down in Liverpool without any qualms - I''ve got no loyalty to them - even less now considering this latest news.   I don''t think they''re the slightest bit interested in Norwich or Norfolk now that they''re a "Big" player and have become the amorphous mass that is Aviva...

Share this post


Link to post
Share on other sites

[quote user="Plastic Scouser"]At least you''ve still got your job Duffman - but for how much longer eh?

They closed us down in Liverpool without any qualms - I''ve got no loyalty to them - even less now considering this latest news.   I don''t think they''re the slightest bit interested in Norwich or Norfolk now that they''re a "Big" player and have become the amorphous mass that is Aviva...
[/quote]

I had to re-apply for my job last year and just missed having to do it again this year. No job guarantee for anyone around here in IT and will probably be that way for a long time.  NU pretty much sucks at the moment and morale is shot! 

 

 

Share this post


Link to post
Share on other sites

[quote user="Plastic Scouser"]At least you''ve still got your job Duffman - but for how much longer eh?

They closed us down in Liverpool without any qualms - I''ve got no loyalty to them - even less now considering this latest news.   I don''t think they''re the slightest bit interested in Norwich or Norfolk now that they''re a "Big" player and have become the amorphous mass that is Aviva...
[/quote]

I had to re-apply for my job last year and just missed having to do it again this year. No job guarantee for anyone around here in IT and will probably be that way for a long time.  NU pretty much sucks at the moment and morale is shot! 

 

 

Share this post


Link to post
Share on other sites

[quote user="Duffman"]I''d love to boycott NU, sadly I have to go there every day for work though![/quote]

im sure unemployment will soon beckon then.. your job can be done in Indai for a fraction of the price!

jas :)

Share this post


Link to post
Share on other sites

''The thing I don''t get is that they are making many redundancy''s, some in Norwich, and yet at the same time letting them off with 44million! I just don''t understand the business sense behind it!

 

 

1) The debt with Morley Fund Management and a bank (can''t remember which one) I thought was £36m. Evans Group is rumoured to be taking on £32m., which makes me think that £4m. may be left with ITFC. to gradually pay off.

2) Norwich Evening News reported a suggestion that of the £32m. there may be a deal struck with Morley and the bank for them to receive 20% of £32m. and the rest is written off.

3) Morley is a manager of funds that is different from the costs of running Aviva.

4) Norwich Union sponsor EVENTS or community facilities not specific teams.

5) Morley was not sponsoring ITFC.

6) If the debt write off occurs, Evans gets a club for £18m. not for £44m. If ITFC gets promoted then it may make their club worth £50m???   It has been suggested that the valuation of Birmingham is £50m.

 

 

 

 

Share this post


Link to post
Share on other sites

I am fairly certain the technicalities of the deal are as follows.

The debts are between Ipswich Town and Morley Asset Management/Barclays. Evans has loaned ITFC £6 million which they have passed on to the two creditors as full and final settlement. What is interesting, as mentioned on other "boards" is that Evans, depending upon the terms, could screw ITFC down for repayment of his loan of £6 million fairly quickly. I would suspect he is taking a gamble, as they are doing quite well at the moment, to obtain a premiership team on the cheap.

The whole sorry saga is typical of the way business works in this country. Morley was taking a huge risk in lending to a football club who did not even own their ground. Of course they nor Norwich Union have lost any money - its the poor investors in Morley. The investment company earned some substantial fees !! We then have Evans who has a myriad of offshore companies which nobody has much of a clue about, but the ones which are profitable probably pay no tax to the UK government. Indeed this deal may have some possible tax saving advantages for him.

It obviously sticks in the gullet to see Norwich Union  let ITFC off the hook but at the same time as part of the deal see £12 million made available to our main competitors to buy players. Our directors being the good guys are strapped for funds. NU have acted quite legitimately but bearing in mind all the money they have made over the years out of the good people of Norfolk then the least they should do is to put £6 million into the Canaries for a spot of advertising etc. So far as I can see they are saving well over £6 million a year from their rather tough approach to their existing hardworking employees.

Finally I see Morley states one of its strengths is its "responsible investment"

Share this post


Link to post
Share on other sites
That is true jas but as NCFC have found out in the past....you pay peanuts and what do you get ?  Same answer applies to Aviva offshore staff

Share this post


Link to post
Share on other sites

[quote user="Duffman"]That is true jas but as NCFC have found out in the past....you pay peanuts and what do you get ?  Same answer applies to Aviva offshore staff
[/quote]

Hang on....I think I know this one......errrrrrr.....hang on...errrrrm....bugger.....errrrrrm......I know......errrrrm. Nope...had it for a second there and it went.........

[8-)]

Share this post


Link to post
Share on other sites
Why shouldn''t norwich union sponsor our team? Is there some golden rule that they can''t? Infact thinking about it, the biggest community in Norfolk is Norwich City Fc probably followed by NU. Mind you for how long that is I don''t know. They are a joke really. They wanted £3500 to insure my car, got it for £2000. Sigh this is what the UK is coming too.

Share this post


Link to post
Share on other sites
" Sigh this is what the UK is coming too"yep, a few years back you would have had to take it or leave itnow you can find somewhere over 40% cheaper

Share this post


Link to post
Share on other sites

[quote user="Fellas"]Why shouldn''t norwich union sponsor our team? Is there some golden rule that they can''t? Infact thinking about it, the biggest community in Norfolk is Norwich City Fc probably followed by NU. Mind you for how long that is I don''t know. They are a joke really. They wanted £3500 to insure my car, got it for £2000. Sigh this is what the UK is coming too.
[/quote]

 

Min costs £185 per year, what sort of car do you have?

Share this post


Link to post
Share on other sites
So stinging young drivers is fine is it? Nice ageism on here. Can''t wait till I get my degree and can leave this country so I don''t have to keep paying for pensioners to live it up. Im not really joking to be honest. I''m nearly in debt already at the age of 17.

Share this post


Link to post
Share on other sites
You are not being stung, your insurance reflects the cost to the insurance industry (and the rest of us) of allowing barely post pubescent simpletons like you to drive.As to subsidising, who do you think has paid for your schooling, healthcare and general well being for most of your life ? The same people who have paid into the system for nearly THREE TIMES your lifespan.Rather than go abroad why not move to suffolk, a place where your level of intellect would have you as the Dean of the University rather than as a student - forgetting that the rural simpletons down the A140 don''t have a university.No need, I believe was the explanation

Share this post


Link to post
Share on other sites

[quote user="Fellas"]So stinging young drivers is fine is it? Nice ageism on here. Can''t wait till I get my degree and can leave this country so I don''t have to keep paying for pensioners to live it up. Im not really joking to be honest. I''m nearly in debt already at the age of 17.
[/quote]

I''ll be sympathetic to you when it becomes a statutory requirement in the Highway Code to:

1. Play an ''entertainment?'' Sound System, (which in all probability costs more than the Vauxhall Chavalier into which it''s squeezed)"Mmphh! Mmphh! Boom! Bang! Oosh!" With bass woofers, tweeters and pheasant beaters - at a volume of 12,000,000 decibels+. Which will not only damage your hearing prematurely and permanently, but also your easily impressed burberry and goldie lookin'' tack jewellery adorned Chavtastic passenger colleague''s aural senses.

2. Glue a few silver hand-painted yoghurt cartons on your tiny bonnet, hang a couple of fairy lights on your rear axle with a real imitation cardboard spoiler on the hatch - and an ''industrial catering sized'' baked bean can on your exhaust....to give it that VVWAAAARMHH! Phut, phut, phut...clunk.....YO!....Lookamee!..appearance.

3. Gather like curious cattle, with the rest of your "MAX POWER!" chums in a local Supermarket car-park - to display your new found driving prowess - and perform doughnuts, handbrake turns, wheelspins, an'' brakey smokin'' an'' a weavin'' an'' a squealin'' skills'' - well past the midnight hour.(Not forgetting playing and comparing your delightful music at an acceptable noise level).

4. When tired and bored of car-park "I''m the STIG!" antics......retire with the rest of your fellow petrol-headz - to the legal race track that is Prince of Wales Road, Magdalen Street and any other road to be seen by the "Looka them knobs and their erratic an'' crazy  racin'' driving and speedin'' - I bet they think we are really impressed by those scoffers and their pathetic life-threatening displays - on how to be a liability on public highways"....unimpressed audience.

5. Limping into a 24hour petrol station forecourt at cease of play, ''borrowing'' a few pence from your passengers, to pay for a cupful of high octane unleaded, that will get you home and into bed - before mummy knows you''re missing.

Nope, I just can''t understand why those insurance companies charge the @rse for young responsible and mature drivers....But, you do have my utter sympathy. Toot! Toot![au] 

  

Share this post


Link to post
Share on other sites

[quote user="Fellas"]17, just passed, toyota yaris 5yrs old 1 litre. Joke aint it.
[/quote]

id expect a fliyng car for that!

ok im 26 but have only been driving since January.. my Fiesta was 20 years old and cost me 425 to insure.. (its since been written off thanks to a truck driver on Dereham road!)

 my 106 cost exactly the same to insure...

i know your young but did u ring round the insurance companies or check Confused.com as they saw u coming a mile off mate!

jas :)

Share this post


Link to post
Share on other sites

[quote user="Fellas"]17, just passed, toyota yaris 5yrs old 1 litre. Joke aint it.
[/quote]

 

Try www.moneysupermarket.com, I suspect they''ll save you at least £500 on what you''ve been quoted.

Share this post


Link to post
Share on other sites
Hahahahaha. All you lot make me laugh. I''m not a simpleton, a chav (racer boy fool) etc. But a great most mellow, as per usual.It is crazy how much I''m charged. I used moneysupermarket and confused, it''s just ridiculous. I even managed to knock £200 quid of my lowest quote! My cousins insured their cars at the same age for 50% less 5 years ago. I know how insurance works, my uncle was an actuary and underwritter, and I know they are stinging us young drivers. My friend is driving an R reg Saxo 998cc, £1400!!!! 3rd party!!!It has got to a ridiculous stage. I cannot understand for the life of me why I have to pay nearly 50 times more for my insurance than some people who have 9 pts on their licsence and have written off 3 cars ( I know someboy who''s crashed 3 times on the acle straight!!! his insureance is only £500 for a neraly new civic!).Ralph wright, you don''t know me, how can you possibly say how intelligent I am. Typical small minded individual, I have offers for Nottingham and UCL already (all A''s) and an interview at cambridge uni.

Share this post


Link to post
Share on other sites
[quote user="vos"]

I am fairly certain the technicalities of the deal are as follows.

The debts are between Ipswich Town and Morley Asset Management/Barclays. Evans has loaned ITFC £6 million which they have passed on to the two creditors as full and final settlement. [/quote]

Don''t think so, I was under the impression that the £32m debt is still on ITFC''s books and the debt will be bought off Morley and the bank for £6m by Evans. So ITFC in effect will owe Evans £32m.  If ITFC get promoted, ITFC can repay Evans the £32m. if he wishes as he will own 87.5% of ITFC. 

In an extreme case he can extract nearly all of the £60m (£30m + 2 parachute receipts) if ITFC get promoted via debt repayment (£32m) and dividend payments (87.5% of £28m = £24.5m.). He will also own 87.5% of a club that he can sell on.  

 

 

 

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...