Turners may have left cos their business is in the s**t!
Reading between the lines, it appears to me that they have made alot of money fairly quickly, most probably in the so called 'sub-prime' mortgage market and they probably have some exposure to the collapsed market for such products in the US.
RBS has written off over ?5 billion in losses from US 'sub primes' but they are big enough to weather the storm. The Turners business is considerably smaller, so maybe the credit crunch has got them and they no longer have anything like the ?275M which the press keep quoting!
Posted By: Kirrie on September 2nd 2008 at 12:12:23
Message Thread
- Turners may have left cos their business is in the shit! (NCFC) - Kirrie, Sep 2, 12:12:23
- fairly certain that they'd have a drop in business value (NCFC) - camcan, Sep 2, 12:16:53
- Yep agreed, and I reckon its come back and bitten them! (n/m) (NCFC) - Kirrie, Sep 2, 12:18:27
- right on their bumpys (n/m) (NCFC) - malkybarkid, Sep 2, 12:25:00
- Yep agreed, and I reckon its come back and bitten them! (n/m) (NCFC) - Kirrie, Sep 2, 12:18:27
- fairly certain that they'd have a drop in business value (NCFC) - camcan, Sep 2, 12:16:53
Reply to Message
In order to add a post to the WotB Message Board you must be a registered WotB user.
If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.