back to article Branson: saviour of Northern Rock

Tiresome action-billionaire Richard Branson's Virgin group is in talks to take the helm of listing mortgage outfit Northern Rock, it's been revealed today. Northern Rock is on the block after it had to be bailed out by the Bank of England last month. The fallout from the sub-prime crisis spanked its ability to raise finance. …

COMMENTS

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  1. Anonymous Coward
    Thumb Down

    Bee in your bonnet about Branson???

    or what?

  2. Anonymous Coward
    Anonymous Coward

    Virgin not so evil with money

    I'm a Virgin One customer (which I realise he sold off a while back to RBS) and haven't had any complaints thus far. Excellent customer service, very versatile and simple to use. It hasn't changed in 8 years. About the first to offer a reduction in mortgage rate to those who already own most of their home, which means they've been pretty cheap for the flexibility I get, and got telephone banking spot on too.

    All in all I'd say his first foray into the mortgage market was a success.

  3. Anonymous Coward
    Joke

    Those golden handcuffs hurting you?

    Anonymous Coward...

    or what?

  4. SpitefulGOD
    Gates Halo

    Yeah

    Ain't Branson Brilliant, I like his style and his charity spending too, not on par with Bill though.. yet.

  5. Anonymous Coward
    Paris Hilton

    Lots of lovely

    public money being thrown at N. Crock

  6. Paul Lee
    Unhappy

    Title

    Branson used to me a bit of a hero of mine ... but ever since he's offered to help Kate and Gerry McScam (the parents who left their three children in a ground floor unlocked appartment while they went boozing) financially, I'm boycotting all his enterprises.

  7. Anonymous Coward
    Thumb Down

    Yeah......

    Your nowt but a player hater!

  8. John A Blackley

    Careful

    your success-envy is showing

  9. charlieman

    The history of Branson enterprises

    Read the Tom Bower book about not-such-a-nice-guy Branson. Or read a sample:

    http://www.guardian.co.uk/comment/story/0,,1664999,00.html

  10. John A Blackley

    @charlieman

    Sorry, charlie. You had me interested until you referenced the Grauniad.

  11. Luther Blissett

    I bought a record of Branson once

    It wasn't a criminal record tho. Seems he just can't get out of plastic.

  12. Anonymous Coward
    Anonymous Coward

    @anonymous coward

    RBS only own the one account. They don't own the rest of Virgin Money, hence why it's now known as 'the one account', rather than 'the virgin one account'.

    I've had a credit card with them and I found them far too pally and ameturish. I object to a bank sending me letters in comic sans (well, it was almost) it doesn't make me feel secure about my cash, or theoretical cash, at least.

  13. Anonymous Coward
    Mars

    could be his nemesis

    There were some debt victims and buy to let wannabees on the radio a week or 2 ago who were talking about how the financial advisers got people into far more debt than they can ever pay by letting the FAs fill in the details for "self-declared" income. They were also jacking up property prices as reported to the Land Registry well above real transaction prices, so they could claim the borrowers had some equity when they didn't. Who knows how many in the industry were taking kickbacks for these claimed scams to work. Amazing what commissions can do in the money industry.

    If this kind of dodgy practice has been extensive, Branson could find himself in above his neck by taking on this particular can of worms.

  14. Charlie Clark Silver badge

    Tiresome is the right word

    He's good at PR using his do-goody or daring stunts to improve the brand before he sells whichever pet project on and pockets the cash. The problems as Northern Rock while largely of their own making have been exacerbated by the banks looking for an easy target to carpetbag but the Northern Rock Foundation (remember this was a building society which had obligations to the savers and lenders who owned it) seems to be a stumbling block for any asset stripper looking for synergies (ie. outsource or delocalise as much as possible to reduce the wage bill and pocket the difference). Branson can step in as saviour to add to his halo and sell the thing on when markets have stabilised.

  15. graeme leggett

    A real banker

    Private Eye often

    mention Branson's financial accumen. Keeps his money offshore and files UK returns late (alledgedly)

  16. Anonymous Coward
    Anonymous Coward

    errr...

    Just noticed that I misread your post Virgin one account holding An-Co.

    I really hope that Branson doesn't get NR as I can't see them doing anything like as much charity work if he does. They may have sold out to become a bank, but they give bastard loads of money to good causes.

  17. This post has been deleted by a moderator

  18. Anonymous Coward
    Stop

    RE:By Paul Lee

    How does this relate to anything, are you trying to inverse the situation by calling everyone who dislikes Branson as being against the McCann family.

    Such is the media these days. (what was the RIPE whois for this poster btw?)

  19. Michael Orton
    Jobs Halo

    run a bank...I wouldn't trust him to run a bath!

    After my experience as a customer of virginmedia,if branson ever casts his eye towards any bank I have business with,my money will be withdrawn so fast it will leave scorch marks on the counter.

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