First Wazzock 902 Posted February 21, 2008 “Norwich” Union have announced that they have to sell Pinebanks to the highest bidder because their investment company, which owns the property, has a “duty to their shareholders” to get the best price for the property.Square this for me with the fact that when Ipswich Town Football Club was sold off to Marcus Evans a large part of their debt, £26million, was owed to the very same Morley Asset Management, owned by “Norwich” Union, with the remaining £6m owed to Barclays Bank. Reports at the time suggested that Mr Evans would be paying 20p for every £1 the club owed, with “Norwich” Union willing to write off the remaining £25million. How does that work then? How is that getting the best value for shareholders? To make matters worse that news also comes just days after “Norwich” Union announced plans for a massive cost cutting programme, designed to save £300m and is expected to lead to hundreds of job losses in Norwich….which of course it will. Thanks NU a double (or triple) whammy. Share this post Link to post Share on other sites
Syteanric 1 Posted February 21, 2008 it stinks doesnt it.. although Evans owns the binmen (and many businesses too) I still think that we might one day see "Norwich Union" on the front of their shirts...jas :) Share this post Link to post Share on other sites
Joanna Grey 0 Posted February 21, 2008 [quote user="jas the barclay king"]it stinks doesnt it.. although Evans owns the binmen (and many businesses too) I still think that we might one day see "Norwich Union" on the front of their shirts...jas :)[/quote] More likely "New Delhi Union" nowadays... Share this post Link to post Share on other sites
The Walking Man 13 Posted February 21, 2008 Abosolute joke. The council should reject all planning permissions to build on there and there should be a fight to keep Pinebanks as a sports facility due to the ever decresaing amount of space/sports facilites in Norwich. Afterall we are apparently a ''green'' city. Share this post Link to post Share on other sites
Carrow89 0 Posted February 21, 2008 As you''ve no idea what the terms of the deal were with Marcus Evans and Morley all you are posting is wild speculation.If specualtion is the order of the day then let me suggest that if Marcus Evans is permitted to keep squeezing the paupers for interest on this debt then the low figure you quote would not have been a final figure. Share this post Link to post Share on other sites
NIGELWNONOTHIM 0 Posted February 21, 2008 Brilliant subject. No too far off the truth I suspect.Anybody renewing an insurance policy knows that they have a choice. Share this post Link to post Share on other sites
nutty nigel 7,509 Posted February 21, 2008 Get in Arthur, CJF and all...QUOTE ME HAPPY [:''(] Share this post Link to post Share on other sites
The Butler 0 Posted February 21, 2008 I thought the NU figures were quoted at the time. They were bandied about in the media and never denied.The council need to step in with a compulsory purchase order (I am sure our mayor could arrange that!!) and then have it as a facility for the community. Share this post Link to post Share on other sites
DC Harry Batt 0 Posted February 21, 2008 Plagarism is alive and kicking Steve this is word form word cut and paste from Evening News Website blog - you cheeky chap!! Nonetheless the sentiment and base subject bears some considerable irony, does it (perhaps!) not? Share this post Link to post Share on other sites
First Wazzock 902 Posted February 21, 2008 Plagarism is alive and kicking Steve this is word form word cut and paste from Evening News Website blog - you cheeky chap!! Nonetheless the sentiment and base subject bears some considerable irony, does it (perhaps!) not? It is ! And I have added MY comment to what I think is a brilliant observation, for which I take NO credit for writing in the first place. Share this post Link to post Share on other sites
WeAreYellows49 0 Posted February 21, 2008 That is why we will no longer use Norwich Union for anything, if they can support those down the road then they are not worthy of our money. Share this post Link to post Share on other sites
