Thank you RBS

[Brown and Boris]

Just heard that RBS have pulled the plug on a local business, putting 500 people on the dole, including my sister in law and nephew. Company was just in profit ( £1.7M last year)and has plenty of work but poor cashflow.

Just as well the same criteria wasn't applied to them when they came with the begging bowl to protect their bonuses.

[Brown and Boris]

s3fella said:

"pulled the plug" is what crap managers and business owners use as a term to absolve themselves from any blame for what happened.

I am sorry that your family members lost their jobs, but you can be sure that the bank are absolutely not repsonsible for the fiduciary duties of the business.

That Wrekin report made me laugh too, what a load of twaddle. Massive laibilities, no cash, depreciating assets and no sales worth a damn, and it is all the Bank's fault....

I think you may be right as several posters here have identified the company involved. They have been telling the world they have full order books and were in profit but looking at the detail now, it is looking like a bizarre case where RBS had preference shares and the 'white knight' boss swapped shares for some large ruby etc tec. . In many ways it would perhaps have been better had they folded when the gem dealing boss took over when they had a better chance of getting jobs?

Never let the wrong facts get in the way of a spur of the moment post I say!