100 days – Day 80
100 days – Day 80
We wuz robbed!
Royal Mail was privatised in October when the government sold 60% of its stake at 330p a share, valuing the company at £3.3bn.
But a committee (the Business, Innovation and Skills committee of MPs – or Bis) today said in a scathing report that it was underpriced by the government and its City advisers
Apparently, we, the taxpayers lost out on £1bn
The business secretary, Dr (Evil) Vince Cable (the man so unable) had said that the share price rise was “froth” and would settle down; the committee criticised Cable for not defining froth properly (lol).
So, your mission today, readers – should you wish to accept it -, is to define “froth” properly.
STOP PRESS:
“The £1bn ‘lost’ by the taxpayer during the sale of the Royal Mail has been found alive and well in the client accounts of the banks advising on the sale, according to reports this morning.” (News Thump)
Tags: 100 days, £1bn, Business Innovation and Skills committee, Dr Evil, froth, privatised, Royal Mail, taxpayer, Vince Cable
About meenister
An ordained Church of Scotland Minister since 1974. Started off in Doune which is near Stirling, before moving to Trinidad for four years; on my return to Scotland, I was a rural minister in Perthshire and then was asked to become Minister at St.Michael's Inveresk where I spent eleven happy years. A short ministry in Guernsey followed and since 1999, I was a full time healthcare Chaplain in the town of Dumfries in SW Scotland, retiring from that post in December 2012. I started this blog on 6 May 2012, soon after my wife, Helen, was diagnosed with secondary cancer - it was a sort of diversion and still is, following her death on 16 June. I hope it shows that there is a lighter side to religion, that it's not gloom and doom and that we can sometimes laugh at ourselves in a self-effacing way. Some posts are, however, I hope provoking and food for thought.Archives
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