Cowards

[fiction-factory]

Co-op sells insurance arm 18th January.
https://www.ft.com/content/cfab84c0-1b4d-11e9-b93e-f4351a53f1c3
Staff told nothing then notified by text at 6pm Friday. Told to ring a call centre for info but all lines currently busy. Ah well, only a thousand or so jobs up in the air. Have a good weekend.
Ethical business? In my experience those who talk loudest about ethics are often the least ethical in practice. Just saying.

[jno]

is that one of thosee FT stories you can find on Google but not see on the FT itself without subscribing? All I get is a log-in page.

[david small]

I once did a job for a chap who banged on about integrity. As it proved it was something he sorely lacked.

[jno]

the FT story doesn't mention the facts you give. Have you tried contacting the writer to tell him? Or one of the tabloids? It sounds quite newsworthy.

[fiction-factory]

Ha. I can see it but the link fails on here. I need tos ahre via Facebook apparently. Anyway, it says :

"The UK’s Co-op has sold its insurance underwriting business, CIS General Insurance, to Markerstudy for £185m.

The deal is the latest in a series of disposals for the mutually owned Co-op, which almost collapsed five years ago and now focuses on food stores, food wholesaling and funeral homes. It had previously sold its troubled banking division and a number of properties.

Co-op will continue to sell insurance after the deal under a 13 year distribution agreement with privately held Markerstudy, which already owns well known brands such as Auto Windscreens and Zenith Direct.

Pippa Wicks, deputy chief executive at Co-op said: “From the outset we’ve been very clear that we intend to enhance our insurance offer for Co-op members and this agreement provides the means for us to do this in an effective way.”

Co-op was advised by Fenchurch Advisory Partners and Allen & Overy. Markerstudy was advised by HFW."

[Baldric]

Great Link!

[jno]

Baldric, as I said, this sometimes happens: you can read a news story via a search engine, but not via the URL.

[fiction-factory]

I think the FT just report the financial transactions, not how the people are treated or kept in the dark or told in a cowardly way. Other media outlets may go public on the text messages later. My source is in the media but i can't give more info. I know a 1000 jobs is small beer but once again it shows that corporate values are just words and shouldn't be believed

[douglas9401]

To be fair to the co-op they only claim to be good with food, not a lover of cover.

It's life/business. Nobody should think either is fair.

[Baldric]

I don't see how

// Subscribe to the FT to read: Financial TimesUK’s Co-op sells insurance business to Markerstudy //

is helpful.

[fiction-factory]

You haven't read their stated values then douglas- our people are our most important asset, we are always open and honest....

[fiction-factory]

This link also works for me.
http://www.morningstar.co.uk/uk/news/AN_1547834939323633500/co-op-group-sells-insurance-underwriting-business-for-gbp185-million.aspx
I haven't tried Breitbart yet

[jno]

it's the sort of angle you sometimes see in newspaper "diaries" like City Spy in the Standard.

[LadyCG]

You find in life that those who pontificate the loudest seldom live by any code of conduct themselves.

My SIL, an absolute slithering serpent, was getting on her mighty high horse about someone we both knew who committed housing benefit fraud.

SIL later got burgled but didn't lose much in the raid. However she claimed for a laptop she never owned, new high security locks throughtout (claimed she had her housekeys stolen), claimed for jewellery she'd sold 2 years earlier and claimed for tablets for her 2 sons which we both actually broken and not stolen during the robbery. You've never met a more holier-than-though, self-congratulating swine in your whole life.

[douglas9401]

That's the sort of thing that could make one want to exit the insurance business, LadyCG.

[jno]

"the louder he talked of his honour, the faster we counted our spoons"

[retrocop]

Lol. Like that one jno