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[Varche]

Well done Virgin buying Northern Rock (owned by the people) for a knock down price. Experts say they should have got at least another half a billion for it.  Perfect time to buy of course while everyone is looking elsewhere  (e.g. Berlin). I wonder who presided over that sale and whether they pat themselves on the back. Shades of Gordy selling our gold reserves at rock bottom. Gettit.!

[Kevin Wood]

Does make me wonder if it was wise to sell at the moment. Still, I'm sure a few brown paper envelopes were all that was required to convince the ministers concerned.

[Marks DTM Calib]

It would be interesting to know the real status of the outfit and thier liabilities, of course the media are not interested or educated enough to get thier head around it. 

It actualy on the face of it sounds a reasonable deal to me, I wonder how much exposure they have to euro debt etc?

It may be sensible if the risk values are high

[Kevin Wood]

It would be interesting to know the real status of the outfit and thier liabilities, of course the media are not interested or educated enough to get thier head around it. 

It actualy on the face of it sounds a reasonable deal to me, I wonder how much exposure they have to euro debt etc?

It may be sensible if the risk values are high

True. I'm sure the government are well appraised of any skeletons in the closet there by now. Maybe Virgin are taking more of a gamble than is apparent.

[Sir Tigger KC]

It would be interesting to know the real status of the outfit and thier liabilities, of course the media are not interested or educated enough to get thier head around it. 

It actualy on the face of it sounds a reasonable deal to me, I wonder how much exposure they have to euro debt etc?

It may be sensible if the risk values are high

True. I'm sure the government are well appraised of any skeletons in the closet there by now. Maybe Virgin are taking more of a gamble than is apparent.

I doubt it, as Nothern Rock was split into a 'Good bank' (Northern Rock plc) and 'Bad bank' (Northern Rock Asset Management) and Virgin Money have bought the good bit, resulting in a £653m loss to the exchequer.  Virgin Money have been sniffing around Northern Rock for some time now so I would have thought that they've done due diligence, unlike Lloyds Bank when they bought HBOS!! 

Nothern Rock Asset Management is the bit holding all those dodgy mortgages and loans that they sprayed around like confetti a few years ago, and if there's any exposure to bad Euro debts it'll be in this part of the bank.  Nothern Rock Asset Management currently 'owes' the taypayers of Great Britain £21 billion!!!    The good news is that if everyone pays off their mortgages this will be recovered...... in time!!! 

[Marks DTM Calib]

Assumption is the mother of all F-ups....to many assumptions in the above! 

Time will tell!

[Sir Tigger KC]

Assumption is the mother of all F-ups....to many assumptions in the above! 

Time will tell!

Very true Mark, very true!!    As you say, we'll see 

[albitz]

Dont know much about it so cant judge,but even if its as bad as some think it might be,it cant be compared in any way with Brown selling off the nations gold reserves.

[Marks DTM Calib]

True

Its interesting that Virgin were only relay interested in the high street presence bit plus some of the more run of the mill services to compliment thier own offerings.

[Varche]

Dont know much about it so cant judge,but even if its as bad as some think it might be,it cant be compared in any way with Brown selling off the nations gold reserves.

It doesn't make it right.. Virgin picked the right time so it goes under the radar as we all concentrate on Merkel, europe etc.

[Radar]

I did hear on the news that the business was making a loss of £400million - so the government may not have given it away too cheaply after all.

[tunnie]

Hats off to Branson, he has made himself a nice little empire from nothing.

Watch TV he owns, get up, take Virgin Train to work, go to Virgin Active Gym, do you banking with Virgin, make your mobile calls with Virgin, fly off on Business trips on Virgin Atantic, used to be able to buy things at your local Virgin Megastore but he saw that industry going so jumped out.

For one man & one brand to do that, its quite impressive really.

[albitz]

An impressive businessman without doubt,although he didnt quite start with nothing. Iirc his gran gave him £30,000 (in the 60,s) to start him off. He has certainly made a tidy return on that.