Northern Rock CEO Sold Millions in Shares Before Collapse
Adam Applegarth did pretty well out of Northern Rock shares in the year before it collapsed. He has trousered many millions over the years, allowing him to enjoy an Aston Martin with a Ferrari for his missus parked in the driveway of his mansion. His confidence in his bank's business model long term is demonstrated by his selling of £1.5 m of shares in two days. (25 Jan 2006 sold 52,253 at 957p for £500,061.21 and the next day he sold another 111,426 at 957p for £1,066,346.82).His faith in the business was shown by his purchase last April of just 262 shares worth a little under £3,000. Not a lot of faith in the business from the boss was there?
Enron's crooks were massive financial supporters of the Republican party. Northern Rock gave half-a-million to Labour's favourite think-tank, the IPPR. It also employed Gordon's personal pollster, Deborah Mattinson, as an adviser. Of all the pollsters to seek advice from, why her? Why give money to that think-tank? Nowadays it is very rare for publicly quoted companies to make politically partisan donations.
61 comments:
In the USA this slag would have done the perp walk and be facing thirty years in an orange boiler suit. In this corrupt shithole of a country he sucks Gordon's arse and will get away with it. Great Britain is the new Uzbekistan.
the entire enron thing went for years, it started under a republican president and Democrat controlled congress, the big growth happened under the Clinton era, and the crash happened barely four months into Bushs Presidency. Since, in government, it takes about eighteen months to change the colours of the curtains, i doubt we can really lay this at the door of the 'neocons'.
String him up.
Investment of half a million in Labour curs brings forth more than 20 billion of taxpayers' money? That's some gearing.
Hey Guido,
There is something totally rotten within the British establishment at the moment. Many incidences of corruption are not followed up on or exposed to their fullest (see cash for honours etc). Where are all the investigative journalists? Surely busting just one of these scandals open would lead to a Pulitzer? Without the full efforts of the fourth estate (dead tree or other) then the only danger to these 'corruptors' is revolution - not very likely in Britain! The press must really do their jobs and protect the public from these monsters or the country is doomed.
Nothing wrong in selling shares as a director. Done all the time.
The questions are this:
1 Did Apple Strudel have some inside track that the shares were likely to fall.
2 How many shares does he currently own.
3 List all his share transactions.
A£0.5 million political donation seems highly inappropriate for a bank/building society. But then Sir D Gorless may have had some say in this. Shades of Sith. Applestrudel just a another wide boy. He will be appointed to a qango soon.
I realy hate this fucking government and the total lack of morality and honour it has caused.I cant believe it was a coincidence he flogged the shares when he did cos with his salary and bonus scheme he didnt need the money wot a cunt should get a job at the treasury he would fit right in.
Sale share a coincidence ? That's stretching credulity isn't it ! These people are not philanthropists, they are 'hard as nails' businessmen, who know how to milk a cow. If you know the ship is fatally holed, you will want to be the first to get your wife and children in the lifeboat. You don't hang around until the lifebelts are all gone.
It's fair to assume,after Gordon's
favourite intellectual banker signed off the NHS report in 2002-he must gave acquired quite a few first names at The Treasury ? Sir Del Boy Hapless has already syphoned off £46 billion for the GP's and Consultants offshore accounts,so the Treasury probably thought 'oh - what the hell - give him the cheque book'.
Sir Del Boy already has a Knobhood, for his unsurpassed ability to spend other people's money. On Tuesday he is collecting an Honorary Doctorate at Coventry Cathedral for 'his business acumem'. Someone is surely taking the p...s !!!
String the little fucker up together with Gay gordo and his cabal. Anyone who votes Labour at the next election should be sectioned.
This is a blatant example of insider trading. A criminal act that could have landed the geordie slaphead in the slammer if he wasn't so close to New Labour.
This is Sir Del Boy Witless' second 'early bath' The first time at NatWest he allegedly received a £3,000,000 pay-off for failure. I imagine he is now counselling his fellow departees on how they can cream off some compensation for their incompetence at NR. For Joe Bloggs on the buses, a small mistake means, no licence, no job, no compensation, and a shitty Xmas for the kids. For the top echelon in business it means nothing of the sort. Nobody gets sacked, just 'retired'. The financial reward for failure is comparable to a lottery win, and a couple of funny handshakes later, they are back on another Blue Chip's Board. Corporate ethics is a misnomer. There are no ethics applied to these situations, or so it appears. Someone tell me differently.
Has anyone actually reported Applegarth for suspected insider trading yet?
Conspiracy Conspiracy Conspiracy
If there is vast amounts of tax payers money being stolen like a very serious crime.
If it smells, sorry stinks. Like a vat full of rotting fish criminal conspiracy.
If it suits all parties involved including the government. Like a large political and criminal conspiracy.
If the same sots of things are happening all over the world including the USA. Like a very large international political and criminal conspiracy
If the BBC and the MSM are more then not interested, like in a very large international political and media criminal conspiracy.
If there is a secret organization which all the major interested participants are members of. Like for example the free masons, that have a long held Fascist type plan to rule the world.
You can bet your house on this seeming absolute FACT. That it is a world wide perfectly enormous international political and media, criminal CONSPIRACY.
Such a gigantically enormous in your face, obvious conspiracy in FACT. That we can complain till we are blue in the mouth and bugger all will be done about anything.
IMHO
All the internet will help us understand quicker, is how truly powerless we have always been, and how little our ruling elites give a shit about honest hard working people.
If there ever was going to be a time when the British people might fully understand what being an ordinary German citizen in the 1930s was actually like. Now should be that time. However it is clear now to me, they never will understand.
Firstly because the media will not be allowed to tell them. Secondly because the public simply no longer have the balls to face the implications of what all this utter shit does in reality mean for themselves and their children.
Our biggest and most easily avoidable problem and these chaps, tax payer funded ace in the hole, is the BBC.
The BBC is a masonic organization from top to almost top that we have come to expect would be glad to inform us about these sorts of things.
The sad truth is they have long since been conned. The BBC is and always has been the people of this country and the worlds most evil and treacherous false friend.
Not since mass collectivist propaganda first come into existence, with state sanctioned monopoly religion. Has a propaganda media corporation ever been so trusted and so completely untrustworthy at the same time.
Concentrate your anger on the place that deserves it the most and has the power to do something really positive about the situation, which is the BBC.
Not because it will work, but because it will not.
You will even sooner understand that there is no powerful independent body whatsoever on this entire planet that CAN do, or dare to do, anything effective about this or any other related CRIME.
http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=421813&in_page_id=3
In this interview Applegarth gave to the Evening Standard in June, it is stated that all his wealth is tied up in NR. How so, as by that time he'd divested himself of millions of pounds worth of NR shares? This really stinks. Disparaging as we are about the US, the Americans would never stand for this.
The Bouncing Czech said...
Anyone who votes Labour at the next election should be sectioned.
And the sane alternative is....?
Charge him with insider trading, widen the net on all directors & do an "Enron" on them all!
We have to arrest this attitude of corruption & re-establish ethical accountability.
It seems that all the bids in for Northern Rock are for well below the current share price, some valuing it at £Nil and wanting the £24 billion + interest written off and BofE commitments to carry on bankrolling it under the new ownres.
Surprised? I'm not.
The taxpayer is being taken for an almighty ride courtesy of Gordon Brown and his bent friends.
I was under the impression that Directors of a plc had to declare when they sold their shares...
Anonymous said...
The Bouncing Czech said...
Anyone who votes Labour at the next election should be sectioned.
And the sane alternative is....?
The Tories, you retarded fuckwit.
Having checked the NR 2006 annual report it appears that Applestrudel became entitled to 53208 and 76351 shares in Jan 2007 which shares had been awarded in Jan 2004. He seems to have sold these upon entitlement. As at 27 Feb 2007 he had an interest in 98257 shares. I do not know if there were any sales post Jan 2007. No hope of getting him on insider dealing.
FYI Sir Derek Gorless was head of the NR Risk Committee. Seems like he was the risk. Twat.
it stinks really stinks , two holding companies with 13% stake say fire sale should not go ahead , vince cables done his homework , 25bn of tax payers money in 4 months , now were hearing prison officers cuts , defra cuts , the things that are doing a valuable job , whilst this fiasco goes on.
he shouldnt have used the BOE to fund it , should have let the banks sort it out.
darling has broke one of the modern era rules of ecnomics but why??
incompetence is my first port of call , but somthing else is wrong i think i detect the hand of the sith.
by the way dear trolls, your leader if that is now the correct term given this weekends turmoil, it would appear your unsure if you should ditch gordon or not , just waiting for that more favourable wind to convice us all that it was just a passing storm in life , were you. well i have news for you, you can choose a blue background , you can wear a blue tie whilst the shits been discovered , but the one good thing about the colour of shit is that it is brown, i can assure you that my anger at what you have done to our country and the near ruination of our parliment, only makes us more determined.
i say again you have lied to the british people , you have decieved , you have thrown away our careful and well thought out national treasures and institutions ,robbing the future of the young for bankruptacy future hardship and strife.
at what point is it right for us to stop your maladministration.
your goverment is a fake and a fraud .
at what point?? a simple question.
thanks
red despot spotter
maybe an aston martin wasn't just seen outside the mansion - but also outside the swish flat in the luxury block on Newcastle's coast road. Worth following up you journo's. Extra-curricular activities?
I hope this actually gets traction and appears on the Idiots Lantern.
T.V. !!
anon 9.21
Are you alleging Applegarth has a fancy piece stashed away?
And while we are on the subject of corruption, when are we to get your promised views on the cash for honours investigation?
Or did I miss them?
Come, come. No need to get upset. It's just par for the course in the shitty little cess pool Brown calls his government. So long as he and his cronies can benefit personally from these shenanigans it's OK.
So it's further meltdown for Northern Rock's share price tomorrow then.
They're fucked and they know they are.
What? corruption? 20 odd billion of Government money wasted without any referral to Parliament, Insidfer trading?
Welshing on a promise for a EC referendum, Stazi Government
but the chief exec Rock really is shameful
Piffling, but
a fancy women?
What is wrong with the nice boys in Gordos gang?
I warn you
This will not go down well with Gordo's Gay Gang.
The IPPR link is a red herring. The NR Foundation - which is operationally autonomous from NR and supports many charitable and voluntary sector projects in the region - gave money to IPPR North (the only think tank with a dedicated North East remit) to fund social and economic research programmes that have a genuine benefit for the region - it has also funded work from other regional bodies. IPPR may be linked to Labour but to suggest this amounts to political corruption is going too far.
A non-Lab North Easterner
anon.7.57
"And the sane alternative is.....?"
I'd settle for the inhabitants of Trumpton at this point.
Anyone see the footage of that mincing old queen Brown on "The Blair Years" just now?
If pouting, faggoty Gordo isn't a cocksucker then I'll eat my own arse.
I see they're fighting like ferrets in a sack again. How long before Miliband gets the boot?.....
David Miliband accused of mounting a campaign to 'destabilise' Gordon Brown
By BENEDICT BROGAN - More by this author »
Last updated at 22:34pm on 18th November 2007
David Miliband's relationship with Gordon Brown was under strain last night after Labour insiders blamed him for a campaign to "destabilise" the Prime Minister.
A Whitehall row over spin was in danger of escalating after the Foreign Secretary was accused of reviving his ambitions to challenge for the leadership.
Days of tetchy exchanges between Downing Street and the Foreign Office culminated in claims that Mr Miliband has been behaving "disgracefully".
The Foreign Secretary tried to clear the air yesterday, insisting he was 'proud' to be working under Mr Brown.
But his enemies accused him of engineering a dispute to put distance between himself and the Prime Minister at a time when polls show public confidence in Mr Brown is falling.
They said he was trying to burnish his leadership credentials barely six months after standing aside to allow Mr Brown a clear run at the Labour crown...........
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=494816&in_page_id=1770
Guido:
In view of your recent postings yesterday (Saturday) and today (Sunday) can you please remind us of your stance on working at weekends to bag the highest number of hits [c.f. Iain Dale] please?
Times is hard. Everybody work weekends. You should try being a fucking plumber.
This is a deliberate report in case my bons mots have gone astray:
'As usual lots of opinion, not much hard information. Guido's commentators don't do knowledge, I find, if opinion is available. They don't even do opinion, if prejudice is available.
Applegarth sold the shares to pay for his house on the Matfen Hall estate; he sold them in January because 'it is the closing period when the board is allowed to sell shares.' See: http://tinyurl.com/3am8su
This doesn't mean I don't think the directors should be strung up.'
daer rob's uncle
they should be strung up for what they've done to the company and now the taxpayer........
It is obscene to see Nulab bailing out this second rate bank with taxpayers billions when they couldnt find a couple of million to bail those poor buggers who lost in the Farepak scandal this time last year.
This is not a conspiracy just to make a few bob for a few incompetent bankers and Prime Ministers. If it were we could virtually all ignore the whole issue and let the courts and the press do their proper job for once.
IMO
This is a calculated criminal conspiracy to inflate the housing market and therefore the entire economies of the US and Briton. To and beyond breaking point. Most likely to destroy the Pound Stirling and dump us desperately into the Euro. Although the ultimate motivation could be far worse then that.
If you cant think of any logical reason why anyone should want to deliberately do such a thing, you should read a bit of Albert Pike and Karl Marx.
At the risk of repeating myself.
Karl Marx Gordon Brown Bill Clinton G and GW bush Tony Blair Winston Ronald Reagan Churchill FDR Harry Trueman and Lenin were brother high degree free masons. Albert Pike virtually invented modern masonic theory and practice. When not inventing the Klue Klux Klan, strongly supporting slavery, or being a Confederate general accused of scalping Union soldiers.
These people for good or worse have now taken over almost the entire workings of government, science, education, media and business. If you are all quite cool about a secret organization running almost the entire world then thats fine. You must be sleeping very well.
However this simple fact would make me crap my pants even if the organization was the womens institute. Dedicated to bringing free tea and biscuits to the masses.
But given that freemasonry at its higher levels is a self confessed secret group dedicated to world domination, by any means that are required. That is said to have been directly responsible for the French and Russian revolutions and the first and second world wars. By many well read honest intellectuals and historians.
The matter deserves more serious investigation at least. It won't get any serious investigation, because the heads of all the organizations responsible for doing such a thing are all high degree free masons as well. None more so then in the judicial system and the police service.
So be cool if you all like and ignore the elephant in the cornflakes if you wish. Because it really is too late to do anything but pray and hope for the best.
It's really quite simple. Applegarth would not have become involved in such a blatant case of insider trading if he didn't feel protected.
So where's the protection?
It comes from the fact that he knows senior members of the Government are up to their necks in some dodgy dealings with Northern Rock.
They won't allow plod to catch up with baldie in case he speaks.
But he would be well advised to not go for a walk in the woods any time soon.
And that's why there has been such desperation to keep the administrators/receivers away from NR. They might find something that the shredders have missed.
The scandal will be FAR FAR bigger than Applegarth having a bit on the side --- amusing though it would be to see that revealed.
There is nothing less than a system credit collapse quietly underway. Just start to tally up all the reports, writedowns, liquidations (GE's fund comes right to mind) runs on institutions (Countrywide, Northern Rock and now possibly E-Trade), ABX indices crash, governmnet-sponsored bailouts (BofE of the entire U.K. banking system and the U.S. treasury's creation of the SuperSIV), and the flight into treasuries this week, and you will have a picture of the TIP of the iceberg here.
Take a careful look at your electronic fiatsco accounts and try to remove as many "middlemen" as possible between you and your credits.
Then, DUCK!!!, stay low and watch the ensuing bust with much fear and trepidation.
That's about as cheery as I can be at this point...
oh dear gordo
daily mail running headline northern rock 45 bn as bids cant afford to make repayments to BOE.
darling thinking of going to euro bank. i suggest by the time they work out each tax payer will have to foot £1500 for your incompetence , i would be thinking of emigrating , oh i think that includes your scotch chums as well who have to pay.
Bad Show old boy. you bunch of wasters , just remember today was the defining day that most people woke up to this lying cheating decieveing goverment who would fuck there own granny to stay in office. hope your well enough for parliment this week gordo, the times come for feeding liars to the lions .the three on the shirt .
you bunch of socialist/marxist retards.
thanks
red despot spotter
In Amicus 1040pm,
You say The IPPR brings "genuine benefits" to the North East? How about naming the top three?
I say you are a trade unionist flunkie/activist/agitator with an 'axe to grind'!
You say the IPPR is involved in "economic and social research"?
I say you are a fucking bullshitter!
You sign off as a "non Lab North Easterner"?
I say you are a fucking NULAB liar!
You are in fact a NuLiebour supporter with a vested interest in the crooked IPPR and its crooked Union gang of supporters!
The IPPR is an integral part of NuLiebour and its Trade Union flunkies, we know and you know it!
PS
If you are going to tell a political lie, it helps if you make an effort to hide your political affiliations! CUNT!
red despot spotter: Thanks for the warning. I shall ensure that I keep the aspirin firmly between my knees for the foreseable future.
Pretty sickening stuff. Why have I not heard this before? Surely this counts as preferential treatment in terms of how the government handled the crisis?
All bids for NRock value it "materially" below the current market value! no shit sherlock
Never trust a bald cunt, especially one wearing a tie as an attempt to look legit!
Also be very wary of hairy ones with a Scottish accent
Poohbear - wrong on all counts I'm afraid. If I was really a Labour activist, it would have been really rather stupid to have spent several years running the "Labour Watch" blog and spending most of my political career fighting Labour in the North East.
Oh, on the socio-economic research bit, see http://www.nr-foundation.org.uk/news/news_Apr07.html
If you really believe this is "political corruption" and funding of the Labour party, fine.
Does the Labour links you expose mean that Darling has a conflict of interest and ought to stand aside in the bail or bust decision?
As a shareholder in NR, I would naturally lean to any story slagging off AA, but this one (at least as it is presented) is all wind and piss.
You say AA sold a load of shares 18months ago at 957p.
Well the last 12 month high is 1251p, ie approx 30% above price he sold for and at a time when clearly the future of the bank seemed rosy.
Unless there is more, this is just a lazy, cheap shot.
If there has been wrongdoing let's hear about it, but this rubbish will just undermine any serious allegations, were such ever to be made.
"Albert Pike virtually invented modern masonic theory and practice"
Most Masons don't give a damn about Albert Pike. And his "lucifer" comment was based on a different translation of the Bible to the King James version, it's out there on google if you want to take a look.
In amicus(trade union),
The IPPR is a puppet of NuLabour run by NuLabour placemen.
The NRF is a puppet of NuLabour run by NuLabour placemen.
Money goes into the IPPR from the NULAB regime for the pupose of pushing the NULAB agenda.
The NRF gets funding from various sources including the government, the trade unions and NGOs/QUANGOs these outfits are run by socialists to push a socialist agenda and they are as bent as a nine bob note/Gordon Brown!
These crooked gangs operate on behalf of the government and get paid by the government, you know it and we know it!
re grumpy granny
will you guarantee that the tax payers money will be repaid ??
it is a matter for the chancellor by the way having authorised it .
thanks
red despot spotter
Bush told the Enron boys to take a flying jump when they came round with their begging bowl.
Senator John Glenn of ex-astronaut, Keating Five fame actually complained that the President hadn't considered helping to prevent the bankruptcy. After the fraud came to light, Glenn took a holiday from speaking to the press.....
Most free masons don't know bugger all about anything other then trying to be better people.
Albert Pike is the founder of The Ancient Accepted Scottish Rite of Freemasonry. The bit Gordon Brown is a 33 degree member of. That means that he has gone though all the important initiation and educational tests that Albert Pike formulated.
I would estimate that 95% of world wide Freemasons have virtually never read any Albert Pike at all, and would not want to understand it if they did. But I sure in my mind, Gordon Brown is not one of that 95%.
To me Gordon Brown is more Albert Pike then Albert Pike could have ever been. Except he sticks to enslaving mainly white people and only scalps Conservatives and libertarians. The rest of the devil worshiping and the sexual perversion stuff with GB I thought was self apparent.
As for being a Marxist Socialist bent on world domination by the high ranking masonic classes of the ruling elite. This to me is self apparent also.
Actions always speak louder then words, even Albert Pikes.
If you do a bit of checking you'll find Enron wasn't too particular about their donations, they spread it around both parties; their meteoric rise in fact took place in the Clinton years.
Here you go again, Atlas, on your hobby-horse of the Masons.
You are NOT a Mason. So how do you know ?
As a Lewis (and if you know anything about Masonry you will understand what that is) I can only tell you that Masonry is a force for good.
It eschews agnostic thought, believes in charity, and the helping of others less fortunate.
Why not, instead, concentrate on another popular 'conspiracy' set out in the Protocols of Sion, all about 'your people' (as you have already mentioned).
But then again, I suppose you believe the Jews have NO influence in the USA, and Wall Street is not controlled by anyone but Afro-Carribeans.
Funny, how you are quite silent about it.
Herr Applebaum will soon have to fall on his own knob as the Newcastle fraulein will no longer be able to perform her cicumcision re-enactment. Find her, find the money.
I have just seen the Mail piece on the 'concerns about Applegarth's private life'. One assumes this refers to his fancy lady. Any clues as to who this is?
You're all nutters. Do you watch for UFOs and think Elvis is still alive?
Do you know the difference between selling shares as a director on one of a small number of designated dates, 18 months before an unprecedented "credit crunch", and insider trading?
Why is everyone so surprised and angry about this ? Big business and government corruption go hand in hand. My only question would be if people could see this happening why didn't they buy aload of NR shares when they were 90p. Rumour has it that the shareholders will get compensation of £4.00 to £8.00 per share.
Post a Comment