It looks like we have been away for a few months however behind the scenes we have been working on new services and seeking further funding support… more about that in the coming weeks.
The MyMoneyPA ‘lifestyle’ personal assistant service has been discontinued. We will explain why in later blogs.
So what have we thought about the events since the last blog? We have loads of views on many aspects of how the consumer suffers at the hands of large greedy organisations however the banks seem to continue to bring out news that beggars belief. The two standout stories are the Co-op’s demise and RBS’s continuing woes.
With a reported loss of £2bn the Co-operative Group is now considering selling off its farms and pharmacies. It was the model for mutually owned business but its vision and delivery was a relic from the last century. Its merger with the Britannia Building Society and the purchase of grocery chain Somerfield’s seem to have been at the root of their problems.
RBS’s problems just keep emerging. It appears that they will post losses of around £8bn in 2013. With new provisions for US litigation charges, payment protection and interest rate swaps along with the creation of a ‘bad bank’, the mainly state owned bank is a long way from moving back to the private sector… if it ever does! On top of this we heard how the two partially state owned banks RBS and Lloyds engineered the demise of small firms for their own gain.