Like a few of the others sold mine before the latest rise but as the stock market saying goes, 'leave a bit for the next bloke' then you don't get caught out.
Next up...the £46.5bn student loan book is now being reviewed for a potential sale to the private sector.
And next year will be Urenco, the uranium enrichment company owned by the UK, Germany & Holland. Valued at up to £12bn and being eyed by private equity, mining & nuclear companies.
Feel "safe in their hands?"
First tranche of the student loan book sold today. Good luck for when the bailiffs coming knocking on your door for your, or your kids debts, that the government hoisted onto them in the first place.
From The Times...
The Government has sold student loans with a face value of almost £900 million as part of a drive to cut public debt.
The loans, which were taken out by students who began courses between 1990 and 1998, have been sold to a debt management consortium for £160 million.
David Willetts, the Universities Minister, said that the private sector was best placed to collect the outstanding debt, allowing the Student Loans Company (SLC) to concentrate on administering newer loans.
“The sale of the remaining mortgage-style student loan book represents good value for money, helping to reduce public sector net debt by £160 million,” he said.
Of the 250,000 loans sold, about 46 per cent of were earning below the repayment threshold, 14 per cent of borrowers were still repaying and 40 per cent were not repaying their loans in accordance with their terms.
The project to find a buyer for the loans began earlier this year, when Mr Willetts said that the plan would “maximise the value of one of the Government’s assets”.
The mortgage-style loans had a face value of around £890 million but the market value is significantly lower.
The buyer, Erudio Student Loans, is backed by a consortium led by investment fund manager CarVal Investors and debt purchasing group Arrow Global Limited.
Arrow Group, which said it had won a “competitive” bidding process, said the sale marked the last remaining government-owned portfolio of mortgage-style student loans and the first such sale to the private sector since 1999.
The deal will result in Arrow Global raising its student loan assets to more than £1 billion by face value, with the company seeking to purchase more in future.
Tom Drury, chief executive, said that the deal would positioning the company business for future growth.
...so basically they sold a great business on the up on the cheap and that business is now threatening to withdraw some of its services to a large part of the UK unless the goverment steps in to prevent competition. Well that's worked out well for the consumer then hasn't it...
...so basically they sold a great business on the up on the cheap and that business is now threatening to withdraw some of its services to a large part of the UK unless the goverment steps in to prevent competition. Well that's worked out well for the consumer then hasn't it...
No, its given the common man a chance of ownership, may be build up a portfolio of shares. We will be a nation of share holders. It will increase productivity, incourage competition and give the consumer choice and a fair deal. Or not ;-)
...so basically they sold a great business on the up on the cheap and that business is now threatening to withdraw some of its services to a large part of the UK unless the goverment steps in to prevent competition. Well that's worked out well for the consumer then hasn't it...
No, its given the common man a chance of ownership, may be build up a portfolio of shares. We will be a nation of share holders. It will increase productivity, incourage competition and give the consumer choice and a fair deal. Or not ;-)
HOLD THE FRONT PAGE: Politicians criticise other politicians!
Alternatively a cross party group of politicians raised highly critical concerns over the mishandling of the sell off which resulted in a billion in lost income which will have to be found elsewhere at the taxpayers expense or cuts to our public services.
Whats the next big thing in shares then? Oh and does anyone want to swap them for my lastminute.com ones?
That will be the 'profitable' parts of the NHS but what the hey, it will give the common man a chance to build up their portfolio of shares they can then flog to pay for their hip operation.
Sorry, bit grumpy today and when my colleagues and relatives are having to resort to in work benefits (and in one case a fecking food bank) to make ends meet I don't find the government spunking a billion of our money to Goldman Sacs and their clients all that amusing.
a very good mate of mine who is a post man brought extra shares whichhe sold when he had the chance and paid off a good chunk of his mortgage ---says its the best thing that they have done for him.
...so basically they sold a great business on the up on the cheap and that business is now threatening to withdraw some of its services to a large part of the UK unless the goverment steps in to prevent competition. Well that's worked out well for the consumer then hasn't it...
No, its given the common man a chance of ownership, may be build up a portfolio of shares. We will be a nation of share holders. It will increase productivity, incourage competition and give the consumer choice and a fair deal. Or not ;-)
complete bo***cks
I know hence the wink at the end.
But that was how all the great sell offs were sold to us.
HOLD THE FRONT PAGE: Politicians criticise other politicians!
Alternatively a cross party group of politicians raised highly critical concerns over the mishandling of the sell off which resulted in a billion in lost income which will have to be found elsewhere at the taxpayers expense or cuts to our public services.
Whats the next big thing in shares then? Oh and does anyone want to swap them for my lastminute.com ones?
That will be the 'profitable' parts of the NHS but what the hey, it give the common man a chance to build up their portfolio of shares they can then flog to pay for their hip operation.
Sorry, bit grumpy today and when my colleagues and relatives are having to resort to in work benefits (and in one case a fecking food bank) to make ends meet I don't find the government spunking a billion of our money to Goldman Sacs and their clients all that amusing.
If I could have liked this twice I would have done.
Not because I give a shit about this country or the state of our once great nationally-owned services, or the miserable future of poverty in store for our most vulnerable, elderly and children, but because I am a Guardian reading loony left PC gone mad commie pinko bastard.
HOLD THE FRONT PAGE: Politicians criticise other politicians!
Alternatively a cross party group of politicians raised highly critical concerns over the mishandling of the sell off which resulted in a billion in lost income which will have to be found elsewhere at the taxpayers expense or cuts to our public services.
Whats the next big thing in shares then? Oh and does anyone want to swap them for my lastminute.com ones?
That will be the 'profitable' parts of the NHS but what the hey, it give the common man a chance to build up their portfolio of shares they can then flog to pay for their hip operation.
Sorry, bit grumpy today and when my colleagues and relatives are having to resort to in work benefits (and in one case a fecking food bank) to make ends meet I don't find the government spunking a billion of our money to Goldman Sacs and their clients all that amusing.
......our once great nationally-owned services......
With you there WheresmeTicket---how i long for the 13 years of labour RULE:
--Where NO ONE was on the dole --Where there was no waiting time at Hospitals or GPs --No Hospitals closed --Everyone had a job they loved and paid 3 times the minimum wage --Where we laughed and sang when boat loads of eastern Europeans arrived--but they didnt according to the Dear Gaurdianistas --Where we were all 60 pence better off for the mass immigration--which didnt exist --Where we would never invade--go to war (only Torys did that)another country --Where all our MPs were the sons and daughters of miners and no one went to private school. --Where everyone didnt have the right to own their own home. --Where everyone could speak up and no one would be shouted down as a RACIST or BIGOT or called a Little Englander (not racist that). --Where there was NO regulation of banks at all.
You know when everything was warm and nice and fluffy and anything that went wrong was some one else's fault.
Flagged for the above post!!!! really lol lol thanks
For the record, although Goonerhaters post is mostly a load of balls and completely irrelevant to the subject actually under discussion, it weren't me...
Still a £279m profit for half a year,the only delivery company that delivers letters and parcels every where six days a week.share price £4.28 that's good considering people paid £3.30 for them 13 months ago.
Comments
Like a few of the others sold mine before the latest rise but as the stock market saying goes, 'leave a bit for the next bloke' then you don't get caught out.
;-)
First tranche of the student loan book sold today. Good luck for when the bailiffs coming knocking on your door for your, or your kids debts, that the government hoisted onto them in the first place.
From The Times...
The Government has sold student loans with a face value of almost £900 million as part of a drive to cut public debt.
The loans, which were taken out by students who began courses between 1990 and 1998, have been sold to a debt management consortium for £160 million.
David Willetts, the Universities Minister, said that the private sector was best placed to collect the outstanding debt, allowing the Student Loans Company (SLC) to concentrate on administering newer loans.
“The sale of the remaining mortgage-style student loan book represents good value for money, helping to reduce public sector net debt by £160 million,” he said.
Of the 250,000 loans sold, about 46 per cent of were earning below the repayment threshold, 14 per cent of borrowers were still repaying and 40 per cent were not repaying their loans in accordance with their terms.
The project to find a buyer for the loans began earlier this year, when Mr Willetts said that the plan would “maximise the value of one of the Government’s assets”.
The mortgage-style loans had a face value of around £890 million but the market value is significantly lower.
The buyer, Erudio Student Loans, is backed by a consortium led by investment fund manager CarVal Investors and debt purchasing group Arrow Global Limited.
Arrow Group, which said it had won a “competitive” bidding process, said the sale marked the last remaining government-owned portfolio of mortgage-style student loans and the first such sale to the private sector since 1999.
The deal will result in Arrow Global raising its student loan assets to more than £1 billion by face value, with the company seeking to purchase more in future.
Tom Drury, chief executive, said that the deal would positioning the company business for future growth.
NB I hope Lincs is ok. He hasn't posted since 23rd April.
and http://bbc.co.uk/news/business-28250963
...so basically they sold a great business on the up on the cheap and that business is now threatening to withdraw some of its services to a large part of the UK unless the goverment steps in to prevent competition. Well that's worked out well for the consumer then hasn't it...
We will be a nation of share holders. It will increase productivity, incourage competition and give the consumer choice and a fair deal.
Or not ;-)
Sorry, bit grumpy today and when my colleagues and relatives are having to resort to in work benefits (and in one case a fecking food bank) to make ends meet I don't find the government spunking a billion of our money to Goldman Sacs and their clients all that amusing.
But that was how all the great sell offs were sold to us.
Not because I give a shit about this country or the state of our once great nationally-owned services, or the miserable future of poverty in store for our most vulnerable, elderly and children, but because I am a Guardian reading loony left PC gone mad commie pinko bastard.
Hmm. I must find out about dual nationality.
--Where NO ONE was on the dole
--Where there was no waiting time at Hospitals or GPs
--No Hospitals closed
--Everyone had a job they loved and paid 3 times the minimum wage
--Where we laughed and sang when boat loads of eastern Europeans arrived--but they didnt according to the Dear Gaurdianistas
--Where we were all 60 pence better off for the mass immigration--which didnt exist
--Where we would never invade--go to war (only Torys did that)another country
--Where all our MPs were the sons and daughters of miners and no one went to private school.
--Where everyone didnt have the right to own their own home.
--Where everyone could speak up and no one would be shouted down as a RACIST or BIGOT or called a Little Englander (not racist that).
--Where there was NO regulation of banks at all.
You know when everything was warm and nice and fluffy and anything that went wrong was some one else's fault.
Maybe the Fire sale wasn't such a good idea after all.