HBOS merges with Lloyds

[danny la rouge]

... hmmm, well that sounds decidedly dodgy.


Anyone have any idea about how many jobs might go as a consequence of this? presumably in their 10s of thousands. It's going to be one massive merger and I would expact with an awful lot of casualties.

Well, there's an HBOS and a LloydsTSB in my local high street. And I imagine quite a few other high streets.

And I really can't see all those branches staying open.

 

[Giles]

Well, there's an HBOS and a LloydsTSB in my local high street. And I imagine quite a few other high streets.

And I really can't see all those branches staying open.

Well, just think of what more useful types of businesses can rent all those vacant bank premises!

Stuff like, er, estate agents, ......oh, hang on!

Nail bars?

Mobile phone shops?

Giles..

 

[Belushi]

... hmmm, well that sounds decidedly dodgy.


Anyone have any idea about how many jobs might go as a consequence of this? presumably in their 10s of thousands. It's going to be one massive merger and I would expact with an awful lot of casualties.

40,000 acording to one report I saw

 

[Pingu]

and one huge data integration project

(spots silver lining in the current situation)

 

[Badgers]

Tick, tock, tick, tock.....

 

[weltweit]

Well, just think of what more useful types of businesses can rent all those vacant bank premises!

Stuff like, er, estate agents, ......oh, hang on!

Nail bars?

Mobile phone shops?

Giles..

Yet more charity shops !

 

[newbie]

I'd probably move more into Abbey at this point, they seem quite safe for the moment...

each to their own, I guess. I see no more reason to feel that they are safe than any other group of sharks.

personally I stick with the mutual building societies, which really are safe.

 

[Geri]

'On the London market HBOS shares have seen wild swings during morning trading, climbing as high as 220p and falling as low as 88p.'

Looks like K&A was right - someones making big money today.

I was going to buy some yesterday, when they were about £1 each, but I didn't know how to do it.

My boss tried last night but they were closed for trading.

 

[Belushi]

crap new logo

 

[Threshers_Flail]

crap new logo

like it.

Oh god if this results in those horrid adverts ending, now that's a silver lining.

 

[david dissadent]

So anyone want to bet on Bradford and Bingley being independent and solvent by December?

 

[girasol]

I can't access my Halifax savings account... I suppose everyone is trying to check theirs and it's all crashed... is there any point in panicking though? 100% of up to 35K saving is 'safe' and will get covered should a bank collapse.

That means most people are safe, in theory...

crap new logo

lolz x 100000000 - inspired!

 

[claphamboy]

Take over just confirmed on the radio news as being agreed.

Welcome to Britain's near Monopoly Bank.

 

[Divisive Cotton]

I have a bank account with the Halifax but I owe Lloyd's a lot a lot of money. I suppose this means they're likely to find me now.

 

[david dissadent]

Take over just confirmed on the radio news as being agreed.

Welcome to Britain's near Monopoly Bank.

I await with relish to see how the NWO crowd will prove that this is all the cunning plan of the Jews\Bildebergs\Lizards\Masons\take your pick.

 

[trashpony]

I have a bank account with the Halifax but I owe Lloyd's a lot a lot of money. I suppose this means they're likely to find me now.

Sorry but that made me

I wouldn't bet on it.

Apparently Morgan Stanley and Goldmans are teetering now. Fucking hell - it's all going tits up

 

[cybertect]

No, because it's going ahead with government blessing and the MMC has been told to butt out, or indeed it wouldn't be going ahead a this speed.

The Standard were saying "Sources confirmed that emergency legislation would be drafted to overcome any competition obstacles to the merger" this evening.

 

[Crispy]

title edited to reflect our new LTSBHBOS overlords

 

[Pingu]

to do list

contact Lloyds\HBOS about data migration project

count money

laugh manically

 

[Giles]

Good news on HBOS, I have £300 in my account there and wasn't looking forward to a long queue to withdraw it!

Giles..

 

[claphamboy]

title edited to reflect our new LTSBHBOS overlords

New thread title is soooooooooooooooooooooooooo wrong, it's a take-over!

 

[MikeMcc]

BBC had an interview with George Osbourne where he pointed out that the Monopolies Commission views view such buy-outs in terms of the national interest, not the savers. They stopped Lloyds from taking over Abbey a while back to stop Lloyds getting a potentially unfair advantage. Now they just don't want the banking system to go down the tubes.

 

[DownwardDog]

What the fuck are they going to call the new bank?

Halifax Lloyds Bank of TSB Scotland?

I bet it will end up being called Menstrutia or some similar bollocks made up word (Accenture, Aviva, Amicus, etc.) depending on what .com domain is available.

 

[cesare]

crap new logo

Did I miss a LloydsTSB rights issue, or have they managed this without one?

 

[FabricLiveBaby!]

HBOSLTSB now holds 30% of all mortgages in the UK. I give it a year and a half - 2 years before it all goes poo poo and it's nationalised. The rescession hasn't really started yet, and so far there are few defaults on mortgages, and I believe that HBOS were quite large on Buy to Let.... but people havn't started to loose thier jobs.

When that starts watch the shit hit the fan with this "bank".

Watch this space. More to come

 

[Kaka Tim]

Maybe the new logo should be a (headless?) chicken coming home to roost.

 

[claphamboy]

crap new logo

I know a regional manager at Lloyds and I've just forwarded that to him.

 

[kabbes]

HBOSLTSB now holds 30% of all mortgages in the UK. I give it a year and a half - 2 years before it all goes poo poo and it's nationalised. The rescession hasn't really started yet, and so far there are few defaults on mortgages, and I believe that HBOS were quite large on Buy to Let.... but people havn't started to loose thier jobs.

When that starts watch the shit hit the fan with this "bank".

Watch this space. More to come

I don't know. The reason that Lloyds were a logical choice was because alone of pretty much all the banks, they have maintained very strict lending controls through the cycle. Consequently, they do not have the subprime problems and they have a lot of liquidity. The whole point of this is that the combined entity is trouble-free.

 

[danny la rouge]

I bet it will end up being called Menstrutia or some similar bollocks made up word (Accenture, Aviva, Amicus, etc.) depending on what .com domain is available.

It is to be called Lloyds-Halifax.

And it seems up to 40, 000 jobs may be lost. So those people probably aren't feeling very "saved" this morning.

 

[marty21]

lloyds are the daddy - my 20 year grudge has had no effect