London Scottish Bank Share Discussion Threads

[lawson27] 06/5/2008 09:08

ihavenoclue
i meant the early mornring trend of late, up 7/9% early doors then back to even by 9am. lol

[ihavenoclue] 06/5/2008 08:53

Lawson ... buck the trend ? The trend is up and has been for 3 weeks now

[cn100] 06/5/2008 08:50

davius can we have a screenshot please?

[lawson27] 06/5/2008 08:45

morning all
i'm likeing the look of this today, i hope this bucks the trend and can hold the rise for once!!

[eomar1978] 06/5/2008 08:24

"Criminal" in the sense that it is extremely misleading. I don't think anyone is going to get locked up, but you take my point with the regard to the skewing effect that writing down the Broking division's goodwill had on the bottom line.

I am not so sure the asset may be actually valued much higher, but certainly the virtual "loss" will not be experienced again.

[davius] 05/5/2008 22:48

I hardly think that a goodwill impairment writedown can be called "criminal", since is a common accounting practice.

For anyone interested in a little background:

Also, info on how the US treat it:

From the Annual Report, page 53

(a) Goodwill
Goodwill represents the excess of the cost of an acquisition of a subsidiary or business over the fair value of the Group's share of the identifiable net assets of the acquired subsidiary or business at the date of acquisition. Goodwill arising on the acquisition of a subsidiary or business is included in 'intangible assets'. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. For the purpose of impairment, goodwill is allocated to cash generating units ("CGU"). Any impairment is recognised immediately in the income statement. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.



Assuming that you are making the point that in writing down the net book value of goodwill from £14.3m to £1.1m has exagerated the losses in the accounts then I'd agree with you. Since they had a pretty torrid year anyway the directors (and of course it would have been agreed by the auditors) probably took the decision to get all the bad news over in one go. The upside is that the intangible asset value may be much higher in reality.

[eomar1978] 05/5/2008 21:17

It seems such an obvious thing this "goodwill impairment charge" and I am really surprised that no-one has discussed it before.

O.K., having a Chartered Accountant as a partner does assist me at times, but it seems such a clear cut manipulation of the accounts it is frankly criminal. "Goodwill impairment" is really a incredibly subjective calculation, but is does not actually effect the bottom line in the same way paying £12.5 million in staffing costs would.

The charge is just a figure and represents no real tangible loss of value during 2007. Anyway, it is up to others to look into this themselves and believe what they want.

I truly did stumble upon this "goodwill impairment charge" this morning and although it clearly doesn't CORRECT WHAT WAS STILL A LOSS FOR 2007, it clearly alters the perception all investors should have about the figures for 2007.

All of you should look at the accounts again and see what you think about the point I have raised.

DYOR - Page 44 and page 73 of the 2007 annual Accounts.

[ihavenoclue] 04/5/2008 23:37

board ? shale ? bidd ?

[petersmith6] 02/5/2008 12:13

i think the MM's are board..."what shale we do today? i know lets drop the bidd to pick up some cheap LSB..ok..we havent done that for a while"

[cn100] 02/5/2008 11:02

davius can we have another screenshot when ready please?

[petersmith6] 02/5/2008 10:10

i would suggest a slow ..very slow rise to 20p the next 4 months.

[ihavenoclue] 02/5/2008 09:24

Davius .. would suggest a decent rise when these weaker sellers clear if your suspicions are correct ?

Regards
IHNC

[ihavenoclue] 02/5/2008 09:23

LOL Lawson

[lawson27] 02/5/2008 09:08

would'nt mind another peak though

[ihavenoclue] 02/5/2008 09:06

Take out the recent peak and the general trend is up.

[davius] 02/5/2008 08:57

I don't know what it is about these early morning rallies, they seem to run out of steam very quickly. I suspect a lot of punters were pulled in at higher levels and are keen to sell into any rally. Still ahead on the day though and level 2 fairly strong, 4-3 @ 10.5-11.25p with bid volume 151K and ask volume 62K.

[davius] 02/5/2008 08:36

Indeed it does Lawson!

:)

[lawson27] 02/5/2008 08:36

Davius

as if by magic, top man, thanks

[lawson27] 02/5/2008 08:34

morning all, seems to be doing well this morning, lets hope it holds, the order book must look posotive

[davius] 02/5/2008 08:34

Now that's a bit more like it...

[davius] 01/5/2008 18:20

DOW riding high, not sure if we get much interest in this share from across the pond, but it's above 13000 at the moment (up nearly 200 points) so will be good for the UK market in general tomorrow if it can hold on to that level.

[cn100] 01/5/2008 17:50

Looks like someone has been accumulating this afternoon. 200k bought @ 15.38. Also a large trade of 417k reported at 4.18pm (also delayed by an hour). I would imagine these were bought at 15.18pm along with a trade of 300k which was reported on PLUS @ 15.19.

IMO

[davius] 01/5/2008 17:07

waynz, I meant it was sitting on the level 2 order book as a sell. Someone bought them, hence why it appeared as a buy. All trades on SETS are buys and sells, but a large sell order can hold back the price until cleared, i.e. until someone buys it. The share price did move back up afterwards but there were only small buy orders on the system, not enough to sustain the share price above 10p on the bid. Still, at least it finished off the bottom and that 200K buy looks to have helped too.

Personally have been otherwise distracted by IVE which has stormed up today. Hope it's LSBs turn tomorrow...

[ihavenoclue] 01/5/2008 16:20

quraishim - 1 May'08 - 15:01 - 804 of 808


this was a classic bull trap.........they sold and sold....now barclays are not letting online trading until they flush the T traders....I am resolute...to add on weakness.

===============================

qura ... i decided to buy in to LSB today. Had same problem with barclays .. they didn't say T traders .. they said a few investors were trying to put a LOT of small buys through to avoid paying on larger trades