Welcome to the Rpoints Forums.
+ Reply to Thread
Results 1 to 3 of 3
  1. #1
    Contributor 1User
    Join Date
    Nov 2003
    Posts
    240
    Rep Power
    0

    What Are Holmesdale Up To?

    OK. Perhaps I am bored. Perhaps I am getting paranoid. But the Holmesdale Building Society have also sent their annual report and accounts.

    They talk, in general, of wanting to get more involved in IT, using the Internet and they want to 'build a following' on Twitter and other social media. Sounds total bollocks to me but I'm of a 'you kids get off my lawn' age.

    However they want to change their memorandum so that they can (direct quote) 'carry on any businesses in the fields of information technology, data processing and communications.'

    Now I can understand them USING information technology, data processing and such. But when they want to 'to carry on any businesses' what does THAT mean? Does it mean setting up non-financial services based subsidiary businesses? Sounds dodgy, like a director wanting to set up his own personal business via the society. Or does it mean they are going to commercialise and sell the personal data of the members which is no better?

    I have no idea and my reading of the usual booklet left me no clearer.

    1User

  2. #2
    HB
    HB is offline
    Moderator HB will become famous soon enough
    Join Date
    Apr 2000
    Location
    Bagger Towers
    Posts
    5,439
    Rep Power
    123
    I reported last year on findings I made looking through their Annual Report, and doing research into their directorships, and what seemed to me to be interesting dealings the Society has had, since appointing Mark Thompson as Director. Somehow they managed to send a lot of work to his company, as part of 'Project Spark'.

    I forwarded my findings to the press at the time, but nothing came of it.

    I have thought for some time that something "unusual" is going on here but nobody seems to want do dig further.

    Your thoughts just reinforce mine.

    Holmesdale BS - what is all this about?
    Sterling Forever.

  3. #3
    Contributor 1User
    Join Date
    Nov 2003
    Posts
    240
    Rep Power
    0
    A senior moment! I had forgotten that was Holmesdale.

    Project Spark, the drive to increase mortgage lending, is mentioned in the annual report stuff they send out. They say it has 'concluded successfully towards the end of the year' and say the costs of the exercise were compensated for by the benefits in increased assets and profitability.

    Looks like it was a nice little earner. For someone.

    1user


 

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts