Strange. When I attended the college is was spelt without an 'e'.
:-)
tu true :-)
we must rely upon our intuition to winkle the signal from the noise.
:-) thanks. I regret that I've never heard that sung.
Is there a tune it's usually sung to?
> On 2009-12-17, A.Reader <anony...@example.com> wrote:
> > Elango <gcr...@gmail.com> wrote:
> >
> >>ShoppingReps is the first website developed on this new innovative
> >>shopping model: Group bargaining through social networking targeted
> >>towards volume discounts.
> > oOOOoooo someone's discovered the Rochedale model again!
>
> Strange. When I attended the college is was spelt without an 'e'.
Hm. I didn't know about this model at all, but it does explain a name in
a scandal here in the Netherlands a few months ago, which I'd been
wondering about. It also makes the principal subject in that scandal
look even worse than he did before.
Richard
There was a building in Toronto in the late sixties called "Rochdale
College." They let hippies live there for free. It went to the dogs
really fast, with muggings and poop on the walls and lots of
drug-dealing. One day a 15 year old girl walked off one of the top
floors while on LSD. She bounced off a convertible's soft top and
walked away, apparently unharmed, but soon thereafter, they shut it
down. I don't know if they spelled it with or without the e.
-Rocky Frisco
--
Government is Crime because humans are corrupt.
> Do please explain - enquiring minds 'n' all that.
There was one of those now rather common scandals about a manager or
director or whatever his title was, being given a massive bonus when
leaving a building society that was already rather strapped for cash.
I understand (perhaps erroneously) that in the UK a building society is
by definition a co-op affair, but in the NL they may be quangos or
commercial entities, or at least these function very much like one.
Therefore, when this happened to the Rochdale BS, I wondered a bit about
the English name, but assumed that it had been taken over from Foreignia
and taken the name of its mother company, or something of the kind.
Knowing now that that name probably came from the Rochdale model, it
appears that he didn't just treat a commercial entity as a normal ripoff
merchant, but that he probably betrayed a co-op organisation.
Richard
> There was one of those now rather common scandals about a manager or
> director or whatever his title was, being given a massive bonus when
> leaving a building society that was already rather strapped for cash.
>
> I understand (perhaps erroneously) that in the UK a building society is
> by definition a co-op affair, but in the NL they may be quangos or
> commercial entities, or at least these function very much like one.
> Therefore, when this happened to the Rochdale BS, I wondered a bit about
> the English name, but assumed that it had been taken over from Foreignia
> and taken the name of its mother company, or something of the kind.
> Knowing now that that name probably came from the Rochdale model, it
> appears that he didn't just treat a commercial entity as a normal ripoff
> merchant, but that he probably betrayed a co-op organisation.
Once upon a time most building societies were mutual affairs, but with
Maggie's financial services relaxation in the '80s, they were allowed
"demutualise": they sold themselves on the stock market, giving a part
of the net to their members (both lenders and borrowers) and retaining
the rest as expanded working capital. A significant proportion (I think
75%) of the members had to vote to allow the demutualisation to take
place. However, since they were being bribed with a share of the
accumulated capital of one or two centuries of borrowing and lending,
many were happy to do so. The payout was very non-linear, so some people
made a minor killing by investing (say) �100 to become a member before
demutualisation, and getting a �500 share of the proceeds - while others
with tens of thousands or huge mortgages got maybe �1500. More recently,
new members joining the few remaining mutuals have had to sign a form to
say that in the event of any demutualisation, their share of any gains
would go to charity.
Most of the demutualised societies had relatively short lives as
independents, because they could now be taken over, and they were
usually sitting on a nice lump of low-interest-rate savings. Abbey
National Building Soc, one of the biggest, became Abbey Bank, but was
taken over by Santander a few years ago (after swallowing a few minnows
itself), and its name is about to disappear and be replaced by
Santander, along with couple of other swallowed ex-mutuals.
> Once upon a time most building societies were mutual affairs, but with
> Maggie's financial services relaxation in the '80s, they were allowed
> "demutualise": they sold themselves on the stock market, giving a part
> of the net to their members (both lenders and borrowers) and retaining
> the rest as expanded working capital. A significant proportion (I
> think 75%) of the members had to vote to allow the demutualisation to
> take place. However, since they were being bribed with a share of the
> accumulated capital of one or two centuries of borrowing and lending,
> many were happy to do so.
I remember John O'Farrell in "Things Can Only Get Better" describing how
absolutely horrified he was at the Halifax demutualising, how outraged he
was at the attempted bribary, and how he emphatically voted "no".
And then he waited confidently for this to make no difference whatsoever,
and his share of the capital to arrive *anyway*...
--
Dave
There's an old Earth saying. A phrase full of power and wisdom, and
consolation to the soul in times of need. Allons-y!
> together with a general consensus that winkles are very much not
> worth eating.
From seeing winkle used as a verb(?) to describe jobs that
combine high effort, low satisfaction and marginal profit,
i thought it would be the case.