PDA

View Full Version : British bank rocked by panic withdrawals


JaredSS07
14 Sep 2007, 03:23 PM
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
Link (http://www.breitbart.com/article.php?id=070914172730.btxyggv4&show_article=1)

How long till their sponsor contract runs out?

Dirt McGirt
14 Sep 2007, 05:16 PM
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
Link (http://www.breitbart.com/article.php?id=070914172730.btxyggv4&show_article=1)

How long till their sponsor contract runs out?
I thought bank runs were a thing of the past.

stanleyt
12 Oct 2007, 01:19 PM
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
Link (http://www.breitbart.com/article.php?id=070914172730.btxyggv4&show_article=1)

How long till their sponsor contract runs out?

Northern Rock may have a savior (or saviour):

http://www.msnbc.msn.com/id/21264453/

If this deal goes through, Northern Rock would remain solvent & honor their sponsorship contract. That being said, if Virgin saves Northern Rock, you could have new jerseys with "Virgin Money" on the front.

I'm sure Newcastle has a clause in their sponsorship contract which would allow them to court other companies should Northern Rock (or any other shirt sponsor) collapse financially.

Either way it's win-win for the club.