HBoS and Lloyds reported to be in merger talks.
http://news.bbc.co.uk/1/hi/business/7620483.stm

I wonder if they'll consider calling the new merged company Bank Of Lloyds, Lenders Of Cash (Scotland)? Would make for an interesting acronym.

And the adverts could feature Howard riding the horse off into the sunset...................................

and never coming back:hihi::hihi::banana::banana:

I've seen that this morning on the news... It's quite scary how quickly the banking industry appears to be collapsing, but not entirely surprising given their interconnectivity globally. Perhaps we are witnessing a signal that financial globalisation is not as beneficial as free-marketeers would have us believe.

Let's not get carried away; the situation isn't that serious as yet.

It's not as if there's loads of bankers standing on top of tall buildings wondering whether to toss themselves off.

Let's not get carried away; the situation isn't that serious as yet.

It's not as if there's loads of bankers standing on top of tall buildings wondering whether to toss themselves off.

Are you off on holiday by any chance????:suspect:

t's not as if there's loads of bankers standing on top of tall buildings wondering whether to toss themselves off.

Or have their passages blocked.

Let's not get carried away; the situation isn't that serious as yet.

It's not as if there's loads of bankers standing on top of tall buildings wondering whether to toss themselves off.

I thought this was a family forum :blush:

interesting share price chart on HBOS this morning. could have made/lost a fortune. but of course a fortune might only buy lunch in a year's time.

whatever happened to the "perfect market hypothesis" I wonder?

anyway, it will be funny to see them ignore all those pesky competition laws in these times of panic.

Let's not get carried away; the situation isn't that serious as yet.

It's not as if there's loads of bankers standing on top of tall buildings wondering whether to toss themselves off.

I actually know somebody that threw themselves off Clifton Suspension Bridge a few days ago. not known why, but the "credit crunch" is chief suspect at the moment. he was a doctor with a number of practices.

:o

I've seen that this morning on the news... It's quite scary how quickly the banking industry appears to be collapsing, but not entirely surprising given their interconnectivity globally. Perhaps we are witnessing a signal that financial globalisation is not as beneficial as free-marketeers would have us believe.

It isn't collapsing, it is deflating and reorganising and its been on the cards since the beginning of the year. It will soon be done then we can start getting back to threads about gypsies :)

It isn't collapsing, it is deflating and reorganising and its been on the cards since the beginning of the year. It will soon be done then we can start getting back to threads about gypsies :)

Thank goodness. The price of pegs and lucky heather is bloody ridiculous at the moment

It isn't collapsing, it is deflating and reorganising and its been on the cards since the beginning of the year. It will soon be done then we can start getting back to threads about gypsies :)

The current banking system is inherently flawed.

But yes... bring on the fun threads! :hihi:

RNS Number : 6588D
HBOS PLC
17 September 2008
13:25

In the light of market speculation, the Board of HBOS plc confirms that it is in advanced
talks with Lloyds TSB Group plc which may or may not lead to an offer being made for HBOS.

so now this has been confirmed, who in HMG should be charged with breaking insider dealing rules.

there was some serious breach in rules there, telling Robert Preston of the BBC about this.

perhaps CHAIRBOY should be charged?

:hihi:

But yes... bring on the fun threads! :hihi:

Are those the same as special pants? :hihi:

Are those the same as special pants? :hihi:

Specialer! :hihi:

so now this has been confirmed, who in HMG should be charged with breaking insider dealing rules.

there was some serious breach in rules there, telling Robert Preston of the BBC about this.

perhaps CHAIRBOY should be charged?

:hihi:

I think all rules are off, they will be making them up as they go along.

Specialer! :hihi:

The mind boggles at what you have in your wardrobe... :confused:

I think all rules are off, they will be making them up as they go along.

I agree that competition rules are off, etc. but this is different.

did you watch the share price this morning? the news was deliberately leaked to the BBC for political purposes, and I've no doubt that some traders made a killing with this knowledge.

as an aside, I think the insider trading rules are bullpoo, but thats for another thread one day.

:)

I agree that competition rules are off, etc. but this is different.

did you watch the share price this morning? the news was deliberately leaked to the BBC for political purposes, and I've no doubt that some traders made a killing with this knowledge.

as an aside, I think the insider trading rules are bullpoo, but thats for another thread one day.

:)

It was not leaked. It is publically available from the stock exchange.

It was not leaked. It is publically available from the stock exchange.

it was leaked to the BBC this morning.

it was publically announced to the stock exchange half an hour ago. see the announcement above.

somebody has been a very naughty boy/girl.

:hihi:

I agree that competition rules are off, etc. but this is different.

did you watch the share price this morning? the news was deliberately leaked to the BBC for political purposes, and I've no doubt that some traders made a killing with this knowledge.

as an aside, I think the insider trading rules are bullpoo, but thats for another thread one day.

:)

Are we talking about the bloke with the red bracers this morning he said HBOS shares were unrealistically low and being talked down?

lunch is for wimps!

:)

It's happening then. Must be very worrying for those in forumland who currently work for HBOS as it seems that large scale layoffs will be coming next year!

it was leaked to the BBC this morning.

it was publically announced to the stock exchange half an hour ago. see the announcement above.

somebody has been a very naughty boy/girl.

:hihi:

It turns out the very naughty boy/girl was Gordon Brown.

Mmmmm.......... I work for HBOS

Best start updatin' me CV me thinks:confused::mad:

Its official: http://news.bbc.co.uk/1/hi/business/7622180.stm

HBOS Chief executive Andy Hornby is likely to lose his job but walk away with a multi million pound pay off. This is what makes me so angry, he must be held accountable at least in part for the mess HBOS are in so why the hell should he walk away with anything?

why the hell should he walk away with anything?

Because he can., would you say no thanks I don’t want it.

Because he can., would you say no thanks I don’t want it.

There's that and there's the fact that whatever he gets is pennies compared to what he thought he was going to get. If that's any consolation...

There's that and there's the fact that whatever he gets is pennies compared to what he thought he was going to get. If that's any consolation...

Presumably he would have had some kind of shares package and he has seen those drop from over £10 each to £2+ so yes he will be getting less.

Presumably he would have had some kind of shares package and he has seen those drop from over £10 each to £2+ so yes he will be getting less.

He would also have had a whole load of options to buy at dirt cheap prices which are now worthless or certainly worth a tiny fraction of what they would have been worth last month.

the credit crunch was about siphoning off the remaining hoarded wealth into the hands of fewer and few. Someone once said that the 1920s market crash was engineered to scientific precision.

The larger superbanks being born of this is the proof of my claim.

There has just been a run on the sperm bank. Looks like Gordon will have to get his hands on it.

Presumably he would have had some kind of shares package and he has seen those drop from over £10 each to £2+ so yes he will be getting less.

Andy actually bought a whole load of shares earlier this year to show his faith in the bank and to show that he thought it was safe, i think it was like quarter million worth or something, this was with his bonus but yes he certainly has lost a lot.

I left HBOS last year because we were being pressured to get sales and i was being told to talk people into getting cards/loans even thought they could not manage thier finances already!

Andy actually bought a whole load of shares earlier this year to show his faith in the bank and to show that he thought it was safe, i think it was like quarter million worth or something, this was with his bonus but yes he certainly has lost a lot.

I left HBOS last year because we were being pressured to get sales and i was being told to talk people into getting cards/loans even thought they could not manage thier finances already!

If thats true its no wonder they hit trouble now.

So, if my money is with HBOS, is it safer or more vulnerable now than before?

According to Look North this evening Lloyds are looking to save the jobs in Scotland over those in Halifax.

I wonder if Gordon Brown (Scottish), who has agreed to turn a blind-eye to the usual competition laws, had anything to do with this ?

So, if my money is with HBOS, is it safer or more vulnerable now than before?

I am by know means an expert on this side of things but I am pretty sure its much safer now as you are now saving with Lloyds and HBOS merged together so a much stronger company.

the only thing it could affect is if you had £35,000 in Halifax and £35,000 in Lloyds accounts, you would have received £70,000 protection from the government - this may now be reduced to £35,000 protection across both banks...

it was leaked to the BBC this morning.

it was publically announced to the stock exchange half an hour ago. see the announcement above.

somebody has been a very naughty boy/girl.

:hihi:

The story was leaked to the news BEFORE staff were told. staff were not even aware talks were going on!!!!!:o:mad:

customers were telling HBOS staff that they were being "merged" - "merged" has now changed to "takeover"....:huh:

the only thing it could affect is if you had £35,000 in Halifax and £35,000 in Lloyds accounts, you would have received £70,000 protection from the government - this may now be reduced to £35,000 protection across both banks...

Lol, that isn't going to be a problem!! :hihi:

I feel sickened by it.

So many people who are probably already feeling the pinch of the current economic climate now have to face the fact that they may not have a job soon.

My sympathies are with all the staff of the Halifax/ Bank of Scotland.

I saw on another forum where this guy works for hbos and it wont actually go through till december apparently.

the only thing it could affect is if you had £35,000 in Halifax and £35,000 in Lloyds accounts, you would have received £70,000 protection from the government - this may now be reduced to £35,000 protection across both banks...

So if I owe THEM more than 35k, can I also use that figure as a cut-off? Come on, let's even things up a little. What's good for the goose....

I saw on another forum where this guy works for hbos and it wont actually go through till december apparently.
yeah, and 6 months ago, whe standard line was that HBOS would be one of the last to go as they had billions of pounds in assets.

Looks like they were solid as a (Northern) Rock

What happens to Halifax shares, does TSB give you £2 what ever they were when they took over or do they convert them to TSB shares?

They convert them to 0.83 TSB shares

They convert them to 0.83 TSB shares

Cheers :thumbsup: can I ask where you got the information from.

Cheers :thumbsup: can I ask where you got the information from.

http://www.guardian.co.uk/business/2008/sep/19/hbosbusiness.lloydstsbgroup1

obviously the value of HBOS shares is now linked to Lloyds ones - in theory an HBOS one should trade for 0.86 the value of a Lloyds one (minus a bit because there is always the chance the takeover may fail)

Buzz Thanks for the link:-

But by last night, it was 197p because Lloyds is offering 0.83 of its shares for one HBOS share, which means the offer price could fluctuate widely until the deal is concluded next year.


Still up in the air then ,could be worth anything next year.:confused:

So if I owe THEM more than 35k, can I also use that figure as a cut-off? Come on, let's even things up a little. What's good for the goose....

It would only be relevant if you owed £35k to Lloyds and £35k to HBOS.

It would only be relevant if you owed £35k to Lloyds and £35k to HBOS.

I get it now, thanks. So what if someone owes them more than 70k?

I think when it comes to money owed it has to be paid back anyway so yes somewhat hypercritical that savers can lose everything but borrows still have to pay there loans back.

The deposit guarantee covers savers if banks go bust - and it's underwritten by the tax-payer.

So, all your savings could be guaranteed, but it'd be us that'd pay for it.

If you became bankrupt (the personal equivalent of the bank going bust) you wouldn't have to pay anything back.