Nationwide clamps down on staff over poll
Article Abstract:
Nationwide, the UK building society in the throes of voting about its mutuality status, is investigating whether any of its staff breached the strict electoral code. At some branches, staff were alleged to have urged members to support mutuality, fearing that conversion to a bank would lead, via a takeover, to the loss of their jobs. Although there are allegations that staff breached the rules, the number of complaints was very small compared to the size of the ballot. Nationwide confirmed it had no evidence that staff directed members how to vote, although some branches had strongly encouraged members to cast their votes. All votes must be in by 11am today and elections to the board are due to be announced on Wednesday afternoon (22nd July).
Comment:
Is investigating whether any of its staff breached the strict electoral code over voting about firm's mutuality status
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Nationwide faces vote challenge
Article Abstract:
With the deadline for votes on 21 July, Nationwide, the largest remaining UK building society, is facing the possibility of defeat in its campaign to defend its mutual status. The society wants to encourage as many people as possible to vote, even if they voted in last year's ballot for elections to the society's board. It is understood that if the vote was in favour of demutualisation, Nationwide would open talks with a view to being taken over. Analysts also believe that other building societies would come under pressure to merge and seek flotation, or prepare to be taken over by larger financial institutions.
Comment:
Wants to encourage as many people as possible to vote even if they voted in last yr's ballot for elections to society's board
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Nationwide lobby battles conversion
Article Abstract:
Nationwide borrowers are being urged by Save Our Building Societies (SOBS) not to vote in favour of the UK building society becoming a bank, saying that mortgage costs will rise as a result. The pressure group also believes that Nationwide's 1mn borrowers will only gain a small windfall should it shed its mutual status. There is also concern that if Nationwide does decide to change, merger pressure on the other 70 smaller building societies will intensify, possibly signalling the demise of the small mutual society. There will be a vote on 21 July 1998 to decide on the conversion option.
Comment:
Borrowers are urged by Save Our Building Societies not to vote in favor of building society becoming a bank
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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