There really is no such thing as a free lunch
Article Abstract:
The decision by the UK Conservative party when it was in power to not introduce measures which would have slowed down the pace of building society demutualization is already having damaging economic consequences. The government believed that allow large-scale demutualization would boost optimism about the economy among the general public, but this did not prove to be the case, as the Conservative party's large election defeat indicated. The problems created by demutualization are being reflected in the struggle for leadership at Nationwide Building Society, which is under pressure from some shareholders to abandon its mutual status.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The dust has settled but the war goes on
Article Abstract:
There is still considerable controversy in the UK about whether building societies should abandon their mutual status. Some observers believe that mutual societies have inherent inefficiencies, and claim that members of the remaining mutual societies are not being permitted to fully express their views about whether mutual status should be retained. Furthermore, mutual societies may not always offer the best mortgage deals. Mutual societies have traditionally enjoyed a strong position in the financial services market, but this may not necessarily remain the case.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Decision, decisions for Midshires carpetbaggers
Article Abstract:
Members of Birmingham Midshires building society are likely to receive an average windfall payment of 750 pounds sterling as Royal Bank of Scotland and Halifax battle to purchase the society. In theory, the board of the society is committed to accept the offer from Royal Bank of Scotland, but observers believe that it will not be able to ignore the 780 million pounds sterling bid from Halifax. More than 300,000 people opened new accounts with Birmingham Midshires between 1996 and 1997 on the assumption that it would covert.
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:
- Abstracts: Ministers should know the price of lunch. The President has such a way with words. Westminster's mirror to the real UK
- Abstracts: Bradford rises above the ashes. The best place to be a Muslim. Pride and prejudice
- Abstracts: Let me tell you about being Scottish. The Union flag has had its day in the sun. Edinburgh's roads rage with contempt for New Labour
- Abstracts: UK slowly slips down economic league tables. The role of luck in the Bank's policy dilemma. Prompt action needed from Bank
- Abstracts: Look to Scotland to see if coalition politics can work. The future of Scotland is the same as the future of Britain