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Team values your support on HBOS jobs

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Published Date: 15 October 2008
Westfield Avenue,
Lightcliffe
First can I thank MPs Linda Riorden and Chris McCafferty, and all the other political parties for their hard work in supporting the local HBOS workforce and small shareholders during this financial debacle.

However, it still looks like all the bes
t seats on the lifeboats have been taken, while the workforce, their families and local small shareholders are still stuck on board the Titanic.

Will we ever get answers as to why the Financial Services Authority, the "dog that didn't bark" did not stop short selling until after we were thrust into the arms of LLoyds/TSB by our executive body and government?

If the FBI are investigating what happened within the finance industry in the USA will we see some regulatory body over here do the same?

Now that the government has finally woken up and done something dramatic to save the financial industry from meltdown, will the institutional shareholders support the workforce and turn down the takeover of HBOS by Lloyds/TSB and save jobs and our high streets from a deluge of empty buildings?

Here, in Halifax General Insurance, based at Copley, we are second to none and very proud of our efforts.

When natural and unnatural disasters occur we have always been the first on the scene helping members of the public in dire straits.

Your continued support to save every job possible is vital and can Linda and Christine please continue to badger the Chancellor and Prime Minister to look again at this takeover. Is it really the best offer for the workforce and the small shareholders?

Remember the majority of HBOS workforce are also small shareholders!

Chris O'Connor, customer service advisor, employee at HBOS, Copley



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  • Last Updated: 15 October 2008 11:09 AM
  • Source: Evening Courier
  • Location: Halifax
 
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1

PrincessFiona,

15/10/2008 11:36:28
its cheeky chris its very cheeky!!!
2

Barry,

17/10/2008 09:24:35
It certainly looks like there have been machinations behind the scenes here, firstly the Government did nothing when it was blatantly obvious the short-sellers were scuppering HBOS, the Lloyds come in with a merger offer which would NEVER have been accepted in more stable times, and the government actively promoted the idea. Furthermore, the money they'll make available to HBOS will ONLY be made available if the takeover goes ahead. That stinks! HBOS has been well and truly stitched up and in my opinion the plans for this were hatched a long time ago
3

PrincessFiona,

18/10/2008 00:44:26
2
barry its nonesense to claim the money is conditional in a tye up with lloyds.

but the staff and their shareholding decided on the management, the bank is insolvent only the staff can be blamed.

bank stiched up? yes by the staff
4

Barry,

18/10/2008 08:08:02
@3 I've read your reply a few times and don't understand your point.
The government said explicitly that the money for HBOS was only available if the TIE up went ahead.
what does the staff's shareholding have to do with anything, there are many more shareholders than just the staff, most of whom have far more shares and therefore far more say. HBOS is a financially sound business with less exposure to the "toxic" debts of other banks and only lost value due to unfounded fears. Are you saying the staff caused this situation and put their jobs on the line? if so, why?
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