HBOS Fears of Nationalisation?

Fears? What Fears?

The soon to be ousted Lord Stevenson has been up all night penning a letter to shareholders outlining fears for HBOS if it gets nationalised – see BBC story.

I am at a bit of a loss to understand what these fears are? More capital raising by tax payers – well don’t we own 40% anyway? Share price decline is cited as another threat/ Pardon. The shares were £11 two years ago and are now less than £1 – how much more decline does he expect.

Across the pond both Fannie Mae and Freddie Mac were nationalised so why not HBOS here?

No comment as yet from Gordon, though the two rogue ex executive bidders {well not quite bidders because they didnt actaully have any money}, have said that they don’t like the nationalisation route.

I’d quite like to see it nationalised. Far fewer job losses. Borrowers would be guaranteed fair and competitive rates. Sooner or later it will all start making money agin which will be good for the coffers. No big bonuses or bungs to investors.

And we get to keep Howard as well as Gordon.

Perhaps HBOS does need that little ‘xtra’ help?

Tim Ocsko

LLoyds Bank takeover of HBOS.

Interesting times as two ex {or is that “has been”?} Banking Chief Execs. ‘mount’ a bid for HBOS on the promise of better shareholder value and less job losses. The idea is though that you do put money on the table – even if its not yours. Nevermind.

I do hold onto my theory though that the Lloyds deal is anything but done. Reflecting on it today I realised that the symbol of the new “LLoyds Banking Group” {Lets be right about this – the takeover of HBOS gives LLoyds teh opportunity to get rid of the terrible TSB bit of their tag which they never liked but had to have because the government said so years ago}, will still be the black horse.

Black Horse. Mmmm? One of the four horsemen of the apocalypse had a black horse.

Say no more….

Tim…

Mystery Third Bidder for HBOS!

Check this out…..in Wales Online as an example but covered in many early postings this morning.

Two months ago – no one wanted to go near this NOW even my corner shop keeper was talking about posting a bid.

Why the interest?

1. The purchaser can ‘kitchen sink’ any old problems in the deal – tidying up their own balance sheet as well as HBOSs.

2. Government have nailed their colours to the mast – there will be a deal. What an invitation fo preferential terms.

3. HBOS current baord has lost its way – Lord Stephenson and Andy Hornby exit stage left leaving who exactly to run the expiring bank with what specific agenda?

4. As I have written on more than one occasion – this is the bargain basement deal of the century! I worked there for 23 years and can tell you that there are some brilliant hard working people there with great attitudes and abilities to learn new stuff. We had a great ‘can do’ attitude. And although there was a general failure at board level I think below this level – senior exec. through to call centre staff there are a number of great leaders who would grace any senior organisation – a few good people of principle whom I hope come out on top and lead HBOS into a new dawn. 

Watch this space.

Tim Ocsko

HBOS. New Mystery Bidder Revealed.

More on HBOS.

I did foresee this. In my blog of a few nights ago in response to Paul Mason’s dull and predictable programme on HBOS – I was very clear that the price was very low for HBOS. Bargain Bucket. Like finding a really nice Bench jacket on the sale rack for a £10.

Jim Spowartpredicts a mystery bidder. Mr Spowart has very close links with HBOS. I remember him. Mmmm? It must have some legs though because Jim Murphy Scottish Secretary is involved.

Anyway the identity of the secret bidder has until now been just that – a secret. I can though shockingly reveal the real identity.

Although vehemently denying it, and strongly opposed by the UK Government who fancy seats on the LLoyds Board when they loose the next general election to any politician capable of proving that they can go a whole hour without lying or talking utter balls – the mystery bidder is…the Moscow State Circus.

Old clowns out, new clowns in.

Perhaps Brand could be the new effing Head of effing PR.

Tim Ocsko

HBOS – Mystery Bidder?

Wouldn’t it be funny if…..

HBOS or another UK Bank was bid for by all those companies they outsourced jobs with? Perhaps for years now they have been cleverly learning exactly how English banks work in call centres across India. Pretending they watch Eastenders and read the Daily Mirror has been a cover. Behind the scenes they have been building powerful databases of information on customers, revenues, costs, operating models, IT, Management etc. What we thought was cheap labour was subsidised labour by a cartel of Indian banks key to sieze their oppportunity when it came.

In a persuit to lower costs and run up big profits have the crown jewels of knowledge been sold abroad?

Tim Ocsko