Norwich Union

[Canary Ben 0]

Slight change from the protest talks, Just wondering what other peoples feeling are on this slightly older matter.

Is it just me or does any one else think that pehaps what NU are doing is bang out of order. I mean its great to have such a big company use our cities name but then to sponsor our local rivals and then to pay of a huge amount of there debt, surly this undermines us? My understanding is that norwich city approached them for sponsorship some time ago, and they turned us down only to later on help Ipshich out of possible administartion. Surly a company that uses our name should have a bit more pride for the city it leaves in and where over half its staff work!

http://new.edp24.co.uk/search/story.aspx?brand=EDPOnline&category=News&itemid=NOED31%20Oct%202007%2022:09:26:807&tBrand=EDPOnline&tCategory=search

 

 

 

[gazzathegreat 0]

It stinks CanaryBen and that''s why I have changed all my insurance policies and don''t have anything to do with them anymore. NU are sadly not a Norwich company anymore, were taken over by Aviva a few years back (I know someone who was quite high up at that time). I suspect they have little regard for the city or it''s people now, but to be involved with Ipswich was the final straw for me.

[Shack Attack 0]

It''s a business decision, plain and simple. Do you honestly believe that the people who run Norwich Union should sit down and consider whether their decisions are going to hurt the feelings of a few football fans before they do their business?

Football may be very important to us but in the grand scheme of things it''s fairly insignificant don''t you think?

[Kathy 733]

[quote user="Shack Attack"]

It''s a business decision, plain and simple. Do you honestly believe that the people who run Norwich Union should sit down and consider whether their decisions are going to hurt the feelings of a few football fans before they do their business?

Football may be very important to us but in the grand scheme of things it''s fairly insignificant don''t you think?

[/quote]

As a self confessed financial numpty it seems to me a very strange business decision to write off a debt just when it looks as if it is able to be paid off. Thats like someone you know owing you some money and then when their rich aunt dies and leaves them a wedge and they can pay you at last you say ''Naah. Its all right. Dont worry about it''. Hardly a sound business dealing if you ask me.

[Canary Ben 0]

i believe this is something to do with them getting shares for it in return. Sounds like our delia.

Also I understand its a business but they use our cities name for there coumpany, you thing pehaps they should give something back other than a couple of banners in the train station!

[MightyYellows50 0]

We will not now insure anything with them at all, ever, after this happening, personally it stinks to high heavens.  They should remove the Norwich bit and have Ips*** Union instead [:|]

[Shack Attack 0]

[quote user="Kathy"]

As a self confessed financial numpty it seems to me a very strange business decision to write off a debt just when it looks as if it is able to be paid off. Thats like someone you know owing you some money and then when their rich aunt dies and leaves them a wedge and they can pay you at last you say ''Naah. Its all right. Dont worry about it''. Hardly a sound business dealing if you ask me.

[/quote]

I''m not one of the suspiciously large number of high powered local businessmen who inhabit our humble messageboard either Kathy [;)].

The article states that Ipswich owed £26million to Morley Asset Management who are owned by Aviva. It looks to me as if the writing off of a large part of the debt is a condition of Marcus Evans takeover so they are not writing it off just when it looks as if it is able to be paid off. In other words, Morley Asset Management either get 20p for every £1 they are owed if the takeover goes through or they continue to be owed the whole amount if it is not.

If it''s not purely a business decision then what other explanation is there. I mean you don''t believe that they''re making decisions that affect their whole business just to antagonise a few football fans, do you?

[missing in action? 0]

if you want to be petty, complain that they don''t fund enough local teams like east bengal FC or Mahindra FC (god bless wiki...)don;t forget that AXA/churchill are based in ipswich so for them to make an impact there and to win support is to shit on their rivals....simple.

[Cyril the Canary 0]

And what stinks even more is that they are laying off hundreds of workers in Norwich this year, and with cost cutting in the future due to hit £350m in next three years i''m sure there will be many more going again.

[Mister Chops 7]

[quote user="Canary Ben002"]

Slight change from the protest talks, Just wondering what other peoples feeling are on this slightly older matter.

Is it just me or does any one else think that pehaps what NU are doing is bang out of order. I mean its great to have such a big company use our cities name but then to sponsor our local rivals and then to pay of a huge amount of there debt, surly this undermines us?

[/quote]I think the constant job losses and threats of redundancy to local staff in favour of shipping jobs to cheaper countries in the name of profiteering is worse, personally.  But you have to remember Norwich Union are just part of what used to be called CGNU and is now called Aviva, and Morley Funds Management who are also part of Aviva are the arm with the money owed by Ipswich Town.  Despite their name, these days they are as much to do with Norwich as Jeff Stelling.

[yellowngreen 0]

Norwich union have done very little for Norwich as a club or a city  remember when they cut all those jobs and sent them to sheffield?, for a company that sponsers so much sport it is hard to belive what how little they have done for NCFC

[Duncan 0]

    I don''t understand the full financial position with the debt at Ipswich, but I do know that Norwich Union have a significant sponsorship deal with our club for the Norwich Union Community Stand. 

[Canary Ben 0]

I understand they are a company who are only out to make money but still you look at tyhe sponsorship they have given to the likes if the olympics, ipswich town swimming etc and then ask yourself what have they done for there home town? There happy to go out of the way and own part of ipswich, and right of well over 3/4 of there debt. So what about giving some of that back to the home town. The place which ''norwich'' union is from. NORWICH. not neccesarily even just to NCFC but to lower leagues like someone else said. Help out the kids. How powerfull would the statement be if the boys caqme out wearing NU shirts next year instead of FLYBE. It would look good. A home sponsor for the home team, just as proton was!

Pehaps smudger would like to start a protest about this! Oh wait it would end up saying Ipswich union on the shitrs if he did this!

[BBFF 0]

[quote user="Shack Attack"]

It''s a business decision, plain and simple. Do you honestly believe that the people who run Norwich Union should sit down and consider whether their decisions are going to hurt the feelings of a few football fans before they do their business?

Football may be very important to us but in the grand scheme of things it''s fairly insignificant don''t you think?

[/quote]NU are the same as NCPLC they are a business with very little interest in FOOTBALL.

FOOTBALL MUST COME FIRST