Sensible Topic Nationalise the Co-op ?

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Would this not be the ideal vehicle for a Nationalised Company ?
An old establish company in fact almost an institution, which until recently was completely publically owned.
It has a Banking arm which we know can be turned around to make a profit and as a Government owned company could be used as the standard for Banking Rules and Regulations.
The same could be done with the Insurance arm, which has always been quite a reasonable insurer of choice.
It has Shops, Pharmacies and Farms that have substantial work forces that could be utilised to introduce the type of Apprenticeship Schemes the Government wants introduced throughout the country and so this could again be used as the "Regulation Model"
It has a Nationwide Funeral Service, which could be utilised to perform the increasing numbers of "paupers burials" thus saving money looking and booking local services, that would utilises the existing business giving job security to existing employees and perhaps increasing business and thus lead to job creation.
And one of the most important things is, that it is a trusted Business name that the British people have always supported. It has only been in recent years where bad management and rising prices has forced loyal users and supporters to use other companies/brands.
Everybody would then know that using the Co-op would mean supporting their own investment and should help in making the company successful and profit making again, thus helping Government financies in the long term.
 
Would this not be the ideal vehicle for a Nationalised Company ?
An old establish company in fact almost an institution, which until recently was completely publically owned.
It has a Banking arm which we know can be turned around to make a profit and as a Government owned company could be used as the standard for Banking Rules and Regulations.
The same could be done with the Insurance arm, which has always been quite a reasonable insurer of choice.
It has Shops, Pharmacies and Farms that have substantial work forces that could be utilised to introduce the type of Apprenticeship Schemes the Government wants introduced throughout the country and so this could again be used as the "Regulation Model"
It has a Nationwide Funeral Service, which could be utilised to perform the increasing numbers of "paupers burials" thus saving money looking and booking local services, that would utilises the existing business giving job security to existing employees and perhaps increasing business and thus lead to job creation.
And one of the most important things is, that it is a trusted Business name that the British people have always supported. It has only been in recent years where bad management and rising prices has forced loyal users and supporters to use other companies/brands.
Everybody would then know that using the Co-op would mean supporting their own investment and should help in making the company successful and profit making again, thus helping Government financies in the long term.

Hmm, on the face of it too sensible, and not the quick fix, popular for an election run up. And Manchester based, not the way "they" think I'm afraid.
There seems to have been political skullduggery already, but the managers have a lot to answer for, I expect a few golden handshakes will follow when the
dust settles. I'm not surprised Lord Minors couldn't handle it, perhaps there's a clue in his name, wonder if he gets one.
The annoying thing is that my mother's, and aunt's, "divi" numbers are seared into my memory, and I need the space.:)
84275 and 63451 aren't even useful for PIN's.
 
Hmm, on the face of it too sensible, and not the quick fix, popular for an election run up. And Manchester based, not the way "they" think I'm afraid.
There seems to have been political skullduggery already, but the managers have a lot to answer for, I expect a few golden handshakes will follow when the
dust settles. I'm not surprised Lord Minors couldn't handle it, perhaps there's a clue in his name, wonder if he gets one.
The annoying thing is that my mother's, and aunt's, "divi" numbers are seared into my memory, and I need the space.:)
84275 and 63451 aren't even useful for PIN's.

Very True, if they had been based in London, I'm sure that there would be much more interest in their problems and finding a solution, I hope it doesn't go the way of Woolworths or there will be hardly any traditional names left on the High Street.
 
Very True, if they had been based in London, I'm sure that there would be much more interest in their problems and finding a solution, I hope it doesn't go the way of Woolworths or there will be hardly any traditional names left on the High Street.
Poundland, fast food, betting shops, charities, money lenders,....and community associations, ooo, hush my mouth.;)
 
Do not need another bank that belongs to the taxpayer..... let it go tits up and end of story. One less bank suits me fine. The insurance will pay out everybody and there is no come back for the fools that had more than £80000 in their accounts. Banks and bailout does not mix!
 
Do not need another bank that belongs to the taxpayer..... let it go tits up and end of story. One less bank suits me fine. The insurance will pay out everybody and there is no come back for the fools that had more than £80000 in their accounts. Banks and bailout does not mix!

If it was just the bank, I agree, but the co-op has many other businesses, and the sharks will be circling for a knock down price. The bank's problem was mainly due to
a disastrous merger with the Britannia Building society, convenient for the Treasury at the time.The co-op's own bank came through the crash unscathed because
it didn't dabble buying and selling dodgy debt, in effect it bailed out the Britannia, so tax payer didn't have to.
The then chairman (methodist minister, local government official) was a jobs for the boys political choice, by a certain opposition leader, despite having no financial
experience and an unsavoury background. He later claimed to have been leaned on by the Treasury to approve the merger (2 or 3 phone calls a week, no less,
not exactly heavy pressure), more likely veiled threats about revealing his weaknesses. After caving in, and raising the matter with the other directors, their only
response was "what's in it for me?" or words to that effect. The rest of the fiasco followed.

I've rambled on a bit, but the average co-op worker, who will suffer, is not to blame. Politicians and crap management caused this, not accountable as usual.
 
If it's a co-operative how come the members have little influence?

I'll judge it on what I buy shares in - no banks, end of.
 
If it's a co-operative how come the members have little influence?

I'll judge it on what I buy shares in - no banks, end of.

That was also part of the problem, the members did have influence but appointments were done on a regional basis and the membership involvement was also done on that regional basis and so it was a fairly simple job to skew votes at meetings by ensuring who attended.......................sounds a bit like the way some of the political constituencies are arranged !!!!

As Danforth says the Banking side is only a part of the business; and if they do go under the Farming arm of the business will be one big area that will become a target for the sharks with the Co-op owning almost 18,000 acres............................I wonder how much of that would remain farmland once the big money players become involved, especially if they have bought as cheap farmland and then use their powers to have it changed to building land...................huge profits at the expense of the ordinary man again.................as usual.
The vultures are already circling and you can be sure they will have certain politicians in their pockets ready to make theirselves big bucks in very little time, when the fiasco of the Co-op Banking problems you could almost be excused of being cynical for believing certain occurences look slightly engineered !!
 
The vultures are already circling and you can be sure they will have certain politicians in their pockets ready to make themselves big bucks in very little time, when the fiasco of the Co-op Banking problems you could almost be excused of being cynical for believing certain occurrences look slightly engineered !!

It's either an incredible lack of foresight, or foresight better than the rest of us. If you have the financial capacity, and the "influence" that creates,
you'd be an idiot if you couldn't profit from an unstable situation, and whatever you want to call them, they're not idiots. They also have the flexibility
to react in any way, for profit, as a created situation develops. It's a pity these talents aren't put to better use, but that's just business as usual.

The real idiots are the ones that allow them to maintain their position, and still appear to tolerate them, not just the government, the entire class.
Most people are honest, or the world couldn't function. Honest people vote for their beliefs, but who tells them what to believe? See para 1 above!:)
 
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