Carpetbaggers beware
Article Abstract:
Unied Kingdom permanent interest bearing stocks (Pibs) are a type of debt that building societies issue and they have increased in prices as demand fro them has risen. They represent a risk in that all the investment could be lost if the building society went bankrupt. The increase in demand for Pibs has occurred due to speculation about demutualisations among building societies. The subsequent price rise has meant that they have become ess attractive as an investment vehicle to provide an income.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Murphy's law
Article Abstract:
Complaints about UK building society conversions have been sent to the Building Society Ombudsman, but there is little that he can do. Some of the complaints are about areas where he has no power to intervene. Members have voted on conversion terms and the ombudsman cannot intervene over terms. Complaints cannot be dealt with until conversions have been carried out since members have not suffered losses until the cinversion has been achieved and benefits are to be paid.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Windfall profits blown away
Article Abstract:
Demutualisations of United Kingdom building societies have brought windfall bonuses for members, but this is unlikely to benefit investors seeking to benefit by opening new accounts. Nationwide has stated that any benefits for new investors have to be paid to a charity. The price of second-hand endowment policies and permanent interest bearing stocks have increased. Investment trusts have been set up geared to benefiting from future demutualisations.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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