Rock campaign reaches facebook

Oct 5 2007 by Paul James, The Journal

THOUSANDS of Northern Rock supporters are going online in a bid to keep the bank northern.

Groups of internet-savvy campaigners, proud of the Rock’s position in the North-East, are using the worldwide web to spread their message.

A petition has been launched on the Prime Minister’s website urging Gordon Brown to support the bank against pressure to sell it below its true long-term market value.

Last night the number of signatures stood at 472 and had been rising by the dozen throughout the day.

And Rock supporters on social networking website Facebook last night numbered 1,403 – and counting.

The Facebook site, called ‘Help Keep the Rock Northern’, wants savers to keep their accounts with the Rock, return their money if they have withdrawn it, and also to open new accounts.

Set up by friends Nick Bell and Billy Harrison, it is headed: “Northern Rock’s fate could be sealed in the next week, amid fears of a takeover bid for the bank. This would have a huge effect on the North-East. Back the Rock and keep it in the North-East!”

Businessman Nick, who won the title Young Business Person of The Year 2004 at The Journal and Evening Gazette’s North-East Business Executive of the Year Awards, launched the site on September 22, and through word of mouth.

Yesterday he said: “I’m a big supporter of business in the North-East and I thought it was important for people to have a portal where they could talk about what’s happening. Facebook seemed like an ideal opportunity.

“I’m a huge believer in keeping the Rock in the North-East. I know a lot of guys who work there and a lot of people who indirectly work for Northern Rock. It just seemed the right thing to do.

“I drive past Gosforth every day and see the new building going up. It would be such a shame to lose that. There are still a lot of people who don’t understand the impact it would have on the North-East.” On the Downing Street petition, its creator, shareholder Robert Bacon, said: “Any attempt to dispose of the company before the business is stabilised and financial markets have recovered from recent disruptions would not result in a fair price being offered.

“What is, in essence, a very sound business might be sold for a pittance and that is not in the interests of anyone, whether it is shareholders, customers, employees, Government, or anyone else.

“The Bank of England is itself to blame for some of the problems faced by the company because of its failure to support the Interbank Market and ensure that there was sufficient liquidity while other governments in other countries did offer such support.”

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Bank that’s in tune with young musicians

A PROMISING group of young North musicians yesterday showed their support for Northern Rock.

The Durham band, called Standby, recently gained the top mark in the North-East in their level 3 exams with the London College of Music.

All students at the School of Rock and Pop, they sported Rock Steady T-shirts to thank the bank for supporting the school in recent months.

Northern Rock sponsored both a gig in aid of St Oswald’s Hospice in Newcastle, and the School of Rock and Pop Festival in County Durham this year.

Andrew Meadowcroft, from the school, said: “The Northern Rock’s help enabled us to stage realistic concerts with great stages and great sound systems and gave the musicians a real taste of stardom, along with helping raise thousands of pounds for a local hospice.

“Northern Rock has been good to
us and because of that, good to the kids.”

Standby will be attending a special ceremony at Caedmon Hall, at Gateshead’s Central Library, on November 9 to showcase their music in front of an invited audience, before picking up their awards.

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Union joins the fight

UNION bosses representing Northern Rock workers have launched their own campaign in the North-East, aiming to highlight the importance of the bank to the local economy.

Last night Graham Goddard, deputy general secretary of the Unite union, said: “Unite has written to MPs and councillors across the North-East in order to seek their support for the future of Northern Rock as an independent North-East based bank.

“Additionally we will be contacting business leaders, sports personalities and the general public to pledge their support for the employees of Northern Rock.”

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Shares rise by 9.9p

SHARES in Northern Rock led the Footsie risers board for the second day in a row yesterday.

The bank’s stock surged by almost 7% as investors weighed up the chances of a rescue bid.

The trading came amid reports that Citigroup was willing to back a possible takeover. The shares were 9.9p up at 161.7p, coming off record lows earlier this week.

Elsewhere in the sector, Royal Bank of Scotland was up 9p at 563p. Barclays gained 15p to 655p as positive sentiment returned to financial stocks after weeks on the backfoot due to the credit crisis.

Overall, the Bank of England’s decision to leave interest rates on hold at 5.75% saw the London market cling to positive territory.

The FTSE 100 Index ended the session 12.7 points higher at 6547.9.