Mutually assured destruction?
Article Abstract:
Building societies in the United Kingdom have been converting to banks, and members have gained windfalls as a result of the loss in mutual status. Bradford and Bingley is the latest building society to follow this trend, which was thought to have ended. Meanwhile, mutuals in mainland Europe are thriving and owners are prevented from benefiting if stocks are sold. There is less pressure on these mutuals to shed their status. Government intervention is a problem for some of these mutuals,and they may have interest rates controlled.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Judgment day: building societies
Article Abstract:
The last big British building society may convert to a bank as a result of voting at Nationwide's July 24, 1997 annual meeting. If five candidates who support the conversion win seats on Nationwide's board, the largest remaining British building society will be compelled to become a bank. If the conversion takes place, 3.5 million members are expected to receive up to 2,000 pounds sterling apiece. The large payout probably will affect the status of the remaining building societies, whose members also want big dividends.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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On the defensive: American professions
Article Abstract:
The Office of Thrift Supervision has argued in favor of making lawyers, accountants and investment advisors liable for savings and loan failures.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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