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Post by fishlovesoatcakes on May 2, 2013 14:54:48 GMT
Yet more bad news from Britannia head office in Leek. CFS (coop) have announced yet more redundancies in their IT department. I'm so pleased that our club will not be associated with the Coop after this season. A dreadful decision to merge the 2 organisations, as more people from our area are going to suffer as a consequence.
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Post by greenhoff74 on May 2, 2013 15:42:54 GMT
Too right , Britannia were the 2nd largest building society when they decided to do this merger, I believe they had bad loans which were coming home to roost in the sub prime crisis and that forced the decision.
All the Britannia top executives are no longer part of this merged organisation.
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Post by jeycov on May 2, 2013 16:23:20 GMT
It will be a shame if the stadium eventually becomes the BET365 arena
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Post by adamsson on May 2, 2013 16:27:48 GMT
Better than the Co-operative Stadium
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Post by stokiejoe on May 2, 2013 16:30:22 GMT
Naming the stadium after a sponsor is always going to cause problems in the long run, particularly if they chop and change. Never did like the idea.
The "Sideway" would cause some fun.
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Post by fishlovesoatcakes on May 2, 2013 18:48:53 GMT
Too right , Britannia were the 2nd largest building society when they decided to do this merger, I believe they had bad loans which were coming home to roost in the sub prime crisis and that forced the decision. All the Britannia top executives are no longer part of this merged organisation. I don't think the £900m spent on a banking system that has now been scrapped has helped either. The commercial loans didn't help the previous financial year. Sent from my HTC Desire HD A9191 using proboards |
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Post by Gaz on May 2, 2013 18:58:00 GMT
We need our old name back - suggest we get Victoria's Secret to sponsor us and rename it to the "Victoria's Secret Ground"
I'll get me coat.
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Post by Nick1984 on May 2, 2013 19:10:44 GMT
How much was the stadium sponsorship bringing in?
I'd like it if we could keep the 'Britannia Stadium' name but ditch the corporate logo.
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Post by generationex on May 2, 2013 19:13:04 GMT
The owners - account holders in fact - voted for this merger.
Recommended by the board of the Britannia - who all received significant payouts following the 'merger'.
Sometimes it just feels like 'the people' are just being had over.
Can't understand it... It's not like bankers are greedy is it..
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Post by lastoftheldk on May 2, 2013 19:17:09 GMT
would the brit have survived without the co-op merger ?
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Post by 1982stokie on May 2, 2013 19:18:28 GMT
Yet more bad news from Britannia head office in Leek. CFS (coop) have announced yet more redundancies in their IT department. I'm so pleased that our club will not be associated with the Coop after this season. A dreadful decision to merge the 2 organisations, as more people from our area are going to suffer as a consequence. Not just in leek nearly 200 jobs have gone from the head office in Burslum the rest will be going soon |
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Post by apb1 on May 2, 2013 19:21:26 GMT
would the brit have survived without the co-op merger ? No, the co-op was fundamentally sound and its the Britannia that had the bad debts I think |
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Post by generationex on May 2, 2013 19:25:24 GMT
That wasn't the pitch of the Britannia when they asked me to vote for merger and significant pay increases for the Britannia board.
I voted no, but about 80 odd percent of customers voted yes.
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Post by Deleted on May 2, 2013 19:28:32 GMT
Yeah, Britannia had substantial bad debts and the Co-op took them on and are still paying them now I believe. The problem now is that Co-op have pulled out of the deal with Lloyds for the x amount of branches they were going to buy, due to these debts and losses last year, the new chief exec that has just come in at the start of May is reviewing whether the Co-op stay in banking at all. If it keeps going the way it is, the chances of the stadium being named after the Co-op are very small.
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Post by fishlovesoatcakes on May 2, 2013 19:28:55 GMT
would the brit have survived without the co-op merger ? No, the co-op was fundamentally sound and its the Britannia that had the bad debts I think Not the case, it was senior management spin. Britannia did have some bad debts but so does every financial institution. Some job losses would have been inevitable but not on the scale post merger. Sent from my HTC Desire HD A9191 using proboards |
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Post by LH_SCFC on May 2, 2013 19:30:06 GMT
Redundancies maybe, but every single job would have gone at the Britannia had the Co-op not stepped in. It was a ticking time bomb rescued by the 'merger'.
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Post by lastoftheldk on May 2, 2013 19:30:31 GMT
Well the Co-op have got to do what they have too do to keep going, was usually always a well run business the Co-op
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Post by MrMagic on May 2, 2013 19:55:19 GMT
Well the Co-op have got to do what they have too do to keep going, was usually always a well run business the Co-op They are the worst run organisation that I have ever come across, and that's a fact. I could list endless examples to back this up. Awful company. Redundancies maybe, but every single job would have gone at the Britannia had the Co-op not stepped in. It was a ticking time bomb rescued by the 'merger'. Not true at all. The Britannia board were obsessed with growing the company. Some of this growth did push Britannia closer the the edge, but it was definitely not a ticking time bomb, I can assure you of that. |
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Post by TheWiseMaster on May 2, 2013 20:19:42 GMT
Redundancies maybe, but every single job would have gone at the Britannia had the Co-op not stepped in. It was a ticking time bomb rescued by the 'merger'. Probably true Bad Debts just short of £400m inherited by the Co-op Bad debts which the then Chair of Britannia was able to pass on to the Co-op after they had been created under his leadership Was it Neville Richardson responsible? He of course got a top job at the Co-op before departing with a fat payout - allegedly I seem to recall that the Britannia BS had a cheap loans company near to the Britannia stadium |
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Post by swampySCFC on May 2, 2013 22:34:48 GMT
Welcome to the real world
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Post by ParaPsych on May 2, 2013 22:45:37 GMT
My understanding is the same as MrMagic's, although our information most likely comes from the same sources.
Regarding the Co-op, what I will say is that at Britannia things would get done. You wouldn't see hundreds of millions spunked up the wall on failed project after failed project with nothing to show for it. Inefficient isn't the word.
I'm just glad I jumped before I was pushed. Some will get nice payouts but unless you're fortunate enough to walk straight into a job it might not mean much.
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Post by greenhoff74 on May 2, 2013 23:06:33 GMT
I understood that Neville Richardson left the Co-op because amongst other things he disagreed with the decision to go for the Lloyds high street branches which they have been forced to abandon now anyway.
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Post by swampySCFC on May 2, 2013 23:20:38 GMT
What about the Incinerator Stadium?
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Post by greenhoff74 on May 2, 2013 23:36:33 GMT
We could have "welcome to the inferno" where the players run out.
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Post by tuum on May 3, 2013 6:47:08 GMT
Well the Co-op have got to do what they have too do to keep going, was usually always a well run business the Co-op They are the worst run organisation that I have ever come across, and that's a fact. I could list endless examples to back this up. Awful company. A close family member took voluntary redundancy from the Co-op last year. She couldn't wait to get out. Echoes everything you say about them..absolutely awful company. Backward is the word I believe. 'Victorian conservatives' is two more. A really, stifling place to work. She is a very positive person but she did not have a good thing to say about the Co-op and was really pleased to take the VR. |
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Post by jarvinski on May 3, 2013 7:05:11 GMT
From 1997 to 2007 the stadium was sponsored by britannia to a tune of £100,000 a year. We should keep the name of the stadium as it is because it a name synonomous with stoke city and is known throughout europe
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Post by fishlovesoatcakes on May 3, 2013 9:10:28 GMT
I understood that Neville Richardson left the Co-op because amongst other things he disagreed with the decision to go for the Lloyds high street branches which they have been forced to abandon now anyway. You're not too far away from the truth mate. He was completely against the lloyds deal and knew it was never going to work. Why would it? Cfs and britannia aren't even nearly integrated. The senior management are not in tune. Sent from my HTC Desire HD A9191 using proboards |
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Post by foster on May 3, 2013 9:51:51 GMT
From 1997 to 2007 the stadium was sponsored by britannia to a tune of £100,000 a year. We should keep the name of the stadium as it is because it a name synonomous with stoke city and is known throughout europeYeah ok.  I echo Swampys sentiments above. This kind of shit happens every day. Probably better to merge and lose a handful of jobs than remain independent and shut the offices down completely. |
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Post by Laughing Gravy on May 3, 2013 9:58:44 GMT
How much was the stadium sponsorship bringing in? I'd like it if we could keep the 'Britannia Stadium' name but ditch the corporate logo. This. Easy. |
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Post by fishlovesoatcakes on May 3, 2013 12:12:27 GMT
From 1997 to 2007 the stadium was sponsored by britannia to a tune of £100,000 a year. We should keep the name of the stadium as it is because it a name synonomous with stoke city and is known throughout europeYeah ok. I echo Swampys sentiments above. This kind of shit happens every day. Probably better to merge and lose a handful of jobs than remain independent and shut the offices down completely. I think you've been taken in by the spin.. Britannia was NEVER in danger of closing. Redundancies were inevitable but not on this scale mate. Interesting that you say a handful....over a thousand up to now. Sent from my HTC Desire HD A9191 using proboards |
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