Re: The new passports (Post-Brexit)

Ok this is a red top

https://www.mirror.co.uk/news/politi...gn=mirror_main

But Blackrock pays £650 k pa to George Osborne as an advisor ????

FFS come on comrades to the barricades!

Re: The new passports (Post-Brexit)

That's perhaps one of the most misleading articles the Mirror has produced for some time and show a complete inability to understand the investment business. They are very careful to point out that Osborne may not have profited from the investment to keep themselves in the clear.

Typical of the standard of journalism in the tabloids these days and of course the typical Mirror readership will gobble it up.
Maybe Unite and the people pointing the finger need to check where their own funds are invested just in case members pensions are being paid from dodgy investments .

Re: The new passports (Post-Brexit)

I know that George Osbourne is nothing to do with Gemalto Blackrock like all major investments managers invests in practically everything , what gets me is that G.O. gets paid a big retainer for doing what precisely. He was a terrible chancellor what does he know about investment that is worth £650k pa ?
ie £12,500 a week.
Maybe its a misprint and its only £65k pa

Re: The new passports (Post-Brexit)

It is indeed a nonsense. Schroders own over 5% of de la rue. According to this article Bruno Schroder (a non exec director) donated £50k to the remain campaign. So that doesn't make the headlines because it doesn't quite fit with the story. All these multinationals will have different investors with their own interests. it's of more significance that Gemalto's biggest shareholder is an investment company linked to the French Government. But none of this is relevant to why they would be the favoured bidder. It's clear they have the expertise and are trusted by many countries worldwide to produce e-passports. It's such a silly commotion when both companies are owned by shareholders worldwide.

http://uk.businessinsider.com/sunday...-glenn-earle-7

Re: The new passports (Post-Brexit)

That's a good point but a different thread all on its own. Looking at his bio you do have to wonder how he managed to get where he did in the government, when he had a history degree from Oxford and hardly any experience in business or finance. Some people lead a charmed life....

Re: The new passports (Post-Brexit)

But De la Rue knows how to make passports they ARE making them at the moment and they are a British company .

Re: The new passports (Post-Brexit)

They are both about as British or French/Dutch as any multinational shareholder owned business.

IMO a British company is one that only has British shareholders. Dyson for example. They have never been floated.

Re: The new passports (Post-Brexit)

Also looking at their annual report and comparing it to Gemalto, de la rue have some strategic direction issues. I didn't look into their accounts in any depth but they have a habit of releasing profit warnings. When you assess a tender many factors are taken into account. Backhanders are not part of that process. It's a big hit for them to lose this contract, but they don't employ that many staff.

Re: The new passports (Post-Brexit)

Why was my post removed ?This was querying the decision to print passports abroad,and the border between Nth/Sth/ Ireland,what is so wrong with that ?

Re: The new passports (Post-Brexit)

De la Rue employ circa 600 people in their UK division .