For Sport wrote:Gordon Gekko wrote:Gadaffi wrote:bbk-will post better returns considering the sale to stanchart
I thought the change from that sale was largely going to be used to offload the 200 or so management staff making it a pass through item in the P&L?
Any idea about the contribution their custody services had on their profit?
From where i stand i think that the custodial business was a business center on its own and thus a balance sheet item coz it contributed to the bottom line of bbk and thus what will be shown on its I&E is the gain or loss on disposal of which I'd love to know their valuation. I'd also love to know how & with which firm bbk run their pension fund as the funds required to pay off some of these dudes IMHO should be from this fund.Most companies normally at times misuse their pension funds as a cheap and fast source of funds in times of cash flow crisis and that's why the pension/retirement benefits laws were revised. Basically, though the funds are to be used to pay off the outgoing guys i think the sale was also to assist in strengthening their cash flows.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary