that Milliband's cost me a few quid
Discussion
Most people hate the big 6 energy companies, but I work for one of them, and since the labour party conference speech, where he made all sorts of ridiculous statements about what Labour would do to reduce energy bills, our share price has dropped from nearly £4 to £3.38, having bought £250/month worth of shares for the last 14 years through the company sharesave scheme,I've built up a juicy retirement fund, me and the Mrs were going to sell as much as we could next March/April. My fault I guess for having all my eggs in one basket, but rarely if at all, have they ever dropped like this, not down on the deal overall, and I don't expect sympathy.
Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
EDF, Eon and Npower shares are all at a higher price than they were 6 months ago so it's likely the City is reacting more to how BG run the business than anything Milliband has said.
Appears BG shares have fallen because of production warnings issued by the company http://www.telegraph.co.uk/finance/newsbysector/ep...
What have your gains been over 14 years?
Appears BG shares have fallen because of production warnings issued by the company http://www.telegraph.co.uk/finance/newsbysector/ep...
What have your gains been over 14 years?
fourpointsixgt said:
Most people hate the big 6 energy companies, but I work for one of them, and since the labour party conference speech, where he made all sorts of ridiculous statements about what Labour would do to reduce energy bills, our share price has dropped from nearly £4 to £3.38, having bought £250/month worth of shares for the last 14 years through the company sharesave scheme,I've built up a juicy retirement fund, me and the Mrs were going to sell as much as we could next March/April. My fault I guess for having all my eggs in one basket, but rarely if at all, have they ever dropped like this, not down on the deal overall, and I don't expect sympathy.
Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
If only the government would allow cartels and price collusion....think how high your shares would be Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
Sid's Dad said:
So let me get this straight - you've invested all your spare money in shares, in just one company, in a volatile sector, with a short-term exit strategy, and you want to blame someone else when you lose a bit of (paper) money?
Heaven forbid that the one company goes bust fourpointsixgt said:
Most people hate the big 6 energy companies, but I work for one of them, and since the labour party conference speech, where he made all sorts of ridiculous statements about what Labour would do to reduce energy bills, our share price has dropped from nearly £4 to £3.38, having bought £250/month worth of shares for the last 14 years through the company sharesave scheme,I've built up a juicy retirement fund, me and the Mrs were going to sell as much as we could next March/April. My fault I guess for having all my eggs in one basket, but rarely if at all, have they ever dropped like this, not down on the deal overall, and I don't expect sympathy.
Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
You're taking the piss right?Just wanted a rant, and when I see his stupid Wallace and Grommet face I want to smash the telly.
shares in my company went from over £11 to 35p. That's 30 times lower, not as bad as RBS, but still shocking.
Tens of thousands of people will have lost their entire savings as it's a huge company, and you were always given bonuses in shares and it was a bit awkward to take your money out.
Cliftonite said:
Bank staff employed by the Royal Bank of Scotland with its crooked / incompetent (delete as applicable) directorship saw their shares drop from £16 to 10p.
(Don't ask me how I know)
So, you should worry!
And the little mentioned huge push in 2008 to get staff to buy more shares at a 'discounted rate', lots of true believers sunk their savings into them after being told it was an artificial low and coupled with an extra discount they would likely double their money. I politely said no, they continued to fall, and fall, and fall. (Don't ask me how I know)
So, you should worry!
There's a lesson here for people. Whilst it's great when company make saving tax efficient in their won shares it's a god awful trade to do from a personal perspective unless it's a really high growth company. Banks and utility companies are not like that. When a company is your employer and pays your monthly wage having a large % of your savings tied up in them is not that sensible.
That said I work in finance and have worked with plenty of people over the years who have done the same. I know of one bloke who worked for Lehamn Brothers who pledged the stock he owned as collateral for his mortgage.
That said I work in finance and have worked with plenty of people over the years who have done the same. I know of one bloke who worked for Lehamn Brothers who pledged the stock he owned as collateral for his mortgage.
P-Jay said:
Cliftonite said:
Bank staff employed by the Royal Bank of Scotland with its crooked / incompetent (delete as applicable) directorship saw their shares drop from £16 to 10p.
(Don't ask me how I know)
So, you should worry!
And the little mentioned huge push in 2008 to get staff to buy more shares at a 'discounted rate', lots of true believers sunk their savings into them after being told it was an artificial low and coupled with an extra discount they would likely double their money. I politely said no, they continued to fall, and fall, and fall. (Don't ask me how I know)
So, you should worry!
Sid's Dad said:
So let me get this straight - you've invested all your spare money in shares, in just one company, in a volatile sector, with a short-term exit strategy, and you want to blame someone else when you lose a bit of (paper) money?
Not a full exit strategy, just a big chunk of it, and a big uk energy company is about the least volatile place I could think of, or so we're told. I wouldn't feel as bad if the share price dropped for some other genuine reason, not the spoutings of a clueless goon like him.As for the thousands of bank workers or lost a fortune when thier share price tumbled, I really do sympathise with them, like us, you were probably encouraged to buy as a good tax efficient way of saving.
People are going to be paying a lot for energy for the foreseeable future, so the money will always keep coming in, unlike banks, whose money was just a theoretical number in a computer.
The reason your shares have dropped in value is because they were artificially boosted in value by the shameless profiteering that is rife in your industry and has been for the last ten years. Milliband called time on it ( and stole a march on Cameron in the process) and the market is now reckoning on some leaner times if a regulator worthy of the name is finally put in place.
If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
Sid's Dad said:
The reason your shares have dropped in value is because they were artificially boosted in value by the shameless profiteering that is rife in your industry and has been for the last ten years. Milliband called time on it ( and stole a march on Cameron in the process) and the market is now reckoning on some leaner times if a regulator worthy of the name is finally put in place.
If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
Harsh! But true.If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
Cliftonite said:
Sid's Dad said:
The reason your shares have dropped in value is because they were artificially boosted in value by the shameless profiteering that is rife in your industry and has been for the last ten years. Milliband called time on it ( and stole a march on Cameron in the process) and the market is now reckoning on some leaner times if a regulator worthy of the name is finally put in place.
If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
Harsh! But true.If I were you I would take my self-pity somewhere else and reflect on how many people's misery will have contributed to my little hoard.
Bluequay said:
The latest bandwagon lets bash the energy companies. It's weird people can sell jeans or trainers at 10 times the cost and that's fine, but an energy company with billions invested making 10% on gas and electricity are thieving w
kers, utter madness.
But the reality is that you CAN buy jeans for a fiver. People can make the choice. So no, it's not utter madness.kers, utter madness.shalmaneser said:
Bluequay said:
The latest bandwagon lets bash the energy companies. It's weird people can sell jeans or trainers at 10 times the cost and that's fine, but an energy company with billions invested making 10% on gas and electricity are thieving wkers, utter madness.
But the reality is that you CAN buy jeans for a fiver. People can make the choice. So no, it's not utter madness.kers, utter madness.Gassing Station | Finance | Top of Page | What's New | My Stuff