HBoS Lloyds TSB Takeover 'agreed'

[The cooler king]

What a disasterous day for Scotland.
A west Yorkshire Car leasing mortgage company has managed to destroy a Scottish Banking institution in 5 years.

The merger of HBoS will cost 40,000 jobs many of these from Scotland.

It is widely known that the I.T division of lloyds TSB is sourced in India (http://www.ihotdesk.com/article/18243885/Lloyds%20TSB%20outsourcing%20to%20India).....which leaves the thousand or so Scottish I.T workers with a bleak future (http://www.silicon.com/financialservices/0,3800010322,39223466,00.htm).
And if that was not enough for the people of Scotland. Gordon Brown is sanctioning the deal in the best interests of the econmoy and the public......

Cheers Gordon 'Getting the job done' indeed......still all these thousands of menial jobs will just be the ticket eh!
:brickwall

[krobertson12]

you want someone to blame?

how about the greedy fat cats at the top that have put the company in such a state? or how about the "shorters" who has spread rumours and destroyed the bank?

usually this wouldnt mean much to me, but my mum could lose her job because of it, and thats a very worrying thing.

[lyonhibs]

This is how it goes.

The grotesque errors of judgement of private individuals working on private interests are to be COMPLETELY forgotten. Likewise, the fact that such a takeover would never have been permitted by the Monoplolies and Mergers Commision unless it was absolutely necessary to save a good deal more jobs than it will cut (HBOS going out of business = a whole lot worse than this merger just for the hard of thinking)

It's all the Government's fault. They should have interfered in the private conduct of a private business.

And the worst of it???

The lost jobs are getting outsourced to India :grr::grr: Of all the scenarios, good British jobs going abroad to poxy developing nations like India.

Very hard to stomach :grr::grr:







































:cool2:

[LeithWalkHibby]

What a disasterous day for Scotland.
A west Yorkshire Car leasing mortgage company has managed to destroy a Scottish Banking institution in 5 years.

The merger of HBoS will cost 40,000 jobs many of these from Scotland.

It is widely known that the I.T division of lloyds TSB is sourced in India (http://www.ihotdesk.com/article/18243885/Lloyds%20TSB%20outsourcing%20to%20India).....which leaves the thousand or so Scottish I.T workers with a bleak future (http://www.silicon.com/financialservices/0,3800010322,39223466,00.htm).
And if that was not enough for the people of Scotland. Gordon Brown is sanctioning the deal in the best interests of the econmoy and the public......

Cheers Gordon 'Getting the job done' indeed......still all these thousands of menial jobs will just be the ticket eh!
:brickwall

Oh well, market forces and all that. Might have actually saved a few jobs rather than letting HBOS go the way of Lehman bank.

[The cooler king]

This is how it goes.

The grotesque errors of judgement of private individuals working on private interests are to be COMPLETELY forgotten. Likewise, the fact that such a takeover would never have been permitted by the Monoplolies and Mergers Commision unless it was absolutely necessary to save a good deal more jobs than it will cut (HBOS going out of business = a whole lot worse than this merger just for the hard of thinking)

It's all the Government's fault. They should have interfered in the private conduct of a private business.

And the worst of it???

The lost jobs are getting outsourced to India :grr::grr: Of all the scenarios, good British jobs going abroad to poxy developing nations like India.

Very hard to stomach :grr::grr:







































:cool2:

Your cretinous sincerity i am sure will be appreciated by the 40,000 about to lose their jobs.:cool2:
17000 workers in Scotland alone are now facing a bleak future.

As for the government giving the go ahead to create a titanic bank this can only be bad for customers whith reduced competition in the market place.

[marinello59]

Your cretinous sincerity i am sure will be appreciated by the 40,000 about to lose their jobs.:cool2:
17000 workers in Scotland alone are now facing a bleak future.

As for the government giving the go ahead to create a titanic bank this can only be bad for customers whith reduced competition in the market place.

Would you rather the whole shebang had been allowed to go to the wall? Imagine the consequences of that.

[McSwanky]

Your cretinous sincerity i am sure will be appreciated by the 40,000 about to lose their jobs.:cool2:
17000 workers in Scotland alone are now facing a bleak future.

As for the government giving the go ahead to create a titanic bank this can only be bad for customers whith reduced competition in the market place.

See this 'reduced competition' malarky? I don't buy it myself.

Two big banks have been merged to form one big bank. So if you're looking for a mortgage, instead of, say, 20 reasonable offers to choose from, you've got 19.

They're still going to have to compete with the other big hitters, e.g. Abbey, RBS, Barclays, Nationwide etc. If they don't come out with competitive products, they won't be holding their 30% market share for long.

I feel for the people who are facing uncertainty about their jobs, I really do, but this was the lesser of two evils by the look of things.

And to suggest the Government could have stopped this happening is just plain ludicrous IMO.

You have a lot to say, and all negative. How about giving us your vision for the future? One nationalised mega-bank?

[sKipper]

Would you rather the whole shebang had been allowed to go to the wall? Imagine the consequences of that.


From a Scottish perspective it has. The consequences are the same.

[Betty Boop]

Well I will be off to change my Bank, from what I'm led to believe Lloyds TSB customer service is appalling! :bitchy:

[Kaiser_Sauzee]

This is how it goes.

The grotesque errors of judgement of private individuals working on private interests are to be COMPLETELY forgotten. Likewise, the fact that such a takeover would never have been permitted by the Monoplolies and Mergers Commision unless it was absolutely necessary to save a good deal more jobs than it will cut (HBOS going out of business = a whole lot worse than this merger just for the hard of thinking)

It's all the Government's fault. They should have interfered in the private conduct of a private business.

And the worst of it???

The lost jobs are getting outsourced to India :grr::grr: Of all the scenarios, good British jobs going abroad to poxy developing nations like India.

Very hard to stomach :grr::grr:







































:cool2:

You obviously haven't got a clue.

[tanfield]

See this 'reduced competition' malarky? I don't buy it myself.

Two big banks have been merged to form one big bank. So if you're looking for a mortgage, instead of, say, 20 reasonable offers to choose from, you've got 19.

They're still going to have to compete with the other big hitters, e.g. Abbey, RBS, Barclays, Nationwide etc. If they don't come out with competitive products, they won't be holding their 30% market share for long.

I feel for the people who are facing uncertainty about their jobs, I really do, but this was the lesser of two evils by the look of things.

And to suggest the Government could have stopped this happening is just plain ludicrous IMO.

You have a lot to say, and all negative. How about giving us your vision for the future? One nationalised mega-bank?

Remember though that currently HBOS has 5 (soon to be reduced to 4) Mortgage Brands whilst Lloyds TSB has more than 1. Still will be plenty of choice in the market.:agree:

Both Lloyds TSB and HBOS are competitive in the mortgage market and I don't see this changing.

[wpj]

Had this merger not been knocked back before? How times change eh!!

[greenlex]

Had this merger not been knocked back before? How times change eh!!
Nope it was Lloyds TSB wanting to take over Abbey.

[Scouse Hibee]

Well I will be off to change my Bank, from what I'm led to believe Lloyds TSB customer service is appalling! :bitchy:


Been with Lloyds TSB for sixteen years and I disagree.

[Gatecrasher]

What a disasterous day for Scotland.
A west Yorkshire Car leasing mortgage company has managed to destroy a Scottish Banking institution in 5 years.

The merger of HBoS will cost 40,000 jobs many of these from Scotland.

It is widely known that the I.T division of lloyds TSB is sourced in India (http://www.ihotdesk.com/article/18243885/Lloyds%20TSB%20outsourcing%20to%20India).....which leaves the thousand or so Scottish I.T workers with a bleak future (http://www.silicon.com/financialservices/0,3800010322,39223466,00.htm).
And if that was not enough for the people of Scotland. Gordon Brown is sanctioning the deal in the best interests of the econmoy and the public......

Cheers Gordon 'Getting the job done' indeed......still all these thousands of menial jobs will just be the ticket eh!
:brickwall


are you kidding? ok the current PM is an arse but you cant blame him for this, if LLoyds didnt do this there would be little or no HBOS left which would mean a lot more than 40000 jobs lost

[Betty Boop]

are you kidding? ok the current PM is an arse but you cant blame him for this, if LLoyds didnt do this there would be little or no HBOS left which would mean a lot more than 40000 jobs lost
Well Brown certainly took his time on cracking down on the practice of short selling, a bit late doing it at tea-time!:bitchy:

[The cooler king]

Well Brown certainly took his time on cracking down on the practice of short selling, a bit late doing it at tea-time!:bitchy:

Correct.

The full story of this betrayal of the Bank of Scotland is still to come out.

UK/US regulators putting a halt/limit to short selling.......
HboS strength was still pretty solid especially on their corporate side.
Imagine a banking institution being taken over by a former Grocers......shocking.

[Betty Boop]

Correct.

The full story of this betrayal of the Bank of Scotland is still to come out.

UK/US regulators putting a halt/limit to short selling.......
HboS strength was still pretty solid especially on their corporate side.
Imagine a banking institution being taken over by a former Grocers......shocking. :agree: A disgrace! What's to say the super duper merger couldn't go the sameway?:confused:

[CropleyWasGod]

Correct.

The full story of this betrayal of the Bank of Scotland is still to come out.

UK/US regulators putting a halt/limit to short selling.......
HboS strength was still pretty solid especially on their corporate side.
Imagine a banking institution being taken over by a former Grocers......shocking.

Despite the emotional rantings of some about the short-sellers being responsible for the bank's demise, cooler heads are saying that it was HBOS's over-extension in the mortgage market that did for it.

[Lucius Apuleius]

Been with Lloyds TSB for sixteen years and I disagree.

And I agree with you. There customer service for me has been top notch.

[Betty Boop]

Bradford and Bingley to be taken over within days, and MFI on the verge of collapse, sad movies! :bitchy:

[Hibbyradge]

Bradford and Bingley to be taken over within days, and MFI on the verge of collapse, sad movies! :bitchy:

Where did you hear that?

I thought B&B had closed a call centre, that's all.

[Betty Boop]

Where did you hear that?

I thought B&B had closed a call centre, that's all.According to Five Live news BandB is about to be nationalised. Maybe to merge with Northern Rock.

[Betty Boop]

My mortgage has just been moved to B&B. any implications? Pundits on radio talking of a merger with Northern Rock, not sure of the implications. :dunno:

[Big Ed]

Maybe thay could get former HBOS Chief Executive Andy Hornby to take the helm at the newly merged institution. After all, he is doing nothing just now. Apart from spending his £2M worth of shares that he scored as a result of HBOSs merger with Lloyds TSB.