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  1. #1
    DF Admin 4me2's Avatar
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    BBC News 'Cadbury's law' to be in Labour election manifesto

    'Cadbury's law' to be in Labour election manifesto





    Kraft's takeover of Cadbury has been controversial

    Labour's election manifesto will include plans to restrict takeovers of British firms on public interest grounds, the BBC has learned.

    It follows the controversial takeover of Cadbury by US food giant Kraft.
    The government said it was powerless to stop the deal, but will now propose that two-thirds of shareholders will have to vote yes to some takeovers.
    Labour has refused to confirm or deny the manifesto leak. The Lib Dems have already called for such a law.



    Cadbury's law

    Labour's manifesto is understood to contain proposals to ensure that if a company is designated "strategic", or if the national interest is concerned, two-thirds of its shareholders will have to vote yes to a takeover.
    Under the current law, a straight majority will suffice.
    In addition, there will be rules to stop hedge funds buying up shares.
    This is designed to stop speculators making a quick profit on a takeover. Under the proposals, only long-term investors will have a say in whether a company is sold.
    The campaign for the so-called Cadbury's law has been led by the Unite union, but has gained popularity among those unhappy at the way in which the confectioner was bought out by Kraft.
    Some observers felt Kraft should have paid more for Cadbury, and that short-term investors pushed through the deal.



    http://news.bbc.co.uk/1/hi/uk_politi...10/8612745.stm

  2. #2
    DF VIP Member C3Grimmy's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    BS just like they did fook all after TATA closed British steel

    Guy Fawkes come back, your country needs you!!

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    Argyll's Apprentice TwoPlAnKs's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    Quote Originally Posted by C3Grimmy View Post
    BS just like they did fook all after TATA closed British steel
    You're right. I will only vote for a government that can travel back in time to put legislation in before things happen. This is clearly in response to problems like Tata and Cadbury.

    It does come quite late though, since so much British industry is owned abroad now so we are seen as a place for a factory with a labour force rather than company headquarters for most manufacturing especially.
    "The Net interprets censorship as damage and routes around it." - John Gilmore

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    DF VIP Member Over Carl's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    Quote Originally Posted by TwoPlAnKs View Post
    You're right. I will only vote for a government that can travel back in time to put legislation in before things happen. This is clearly in response to problems like Tata and Cadbury.

    It does come quite late though, since so much British industry is owned abroad now so we are seen as a place for a factory with a labour force rather than company headquarters for most manufacturing especially.
    You see, that's just a defeatist attitude. The politicians may like to make out that once an event has happened, they are powerless to reverse it, but say for example they could introduce laws applying to this type of situation say for example introducing a new tax that makes the company unprofitable leaving the new owner no choice to sell.

    However, such steps would only be taken by a government that holds the interests of it's populace over those of big business i.e. it's never gonnna happen.

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    Argyll's Apprentice TwoPlAnKs's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    Quote Originally Posted by Over carl View Post
    You see, that's just a defeatist attitude. The politicians may like to make out that once an event has happened, they are powerless to reverse it, but say for example they could introduce laws applying to this type of situation say for example introducing a new tax that makes the company unprofitable leaving the new owner no choice to sell.

    However, such steps would only be taken by a government that holds the interests of it's populace over those of big business i.e. it's never gonnna happen.
    How would increasing taxes keep the business in the UK? They'd move production abroad completely and sell the factory off as an empty building.
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    DF VIP Member Over Carl's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    Suppose you're right on that one, doh!

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    Argyll's Apprentice TwoPlAnKs's Avatar
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    Default Re: 'Cadbury's law' to be in Labour election manifesto

    Quote Originally Posted by Over carl View Post
    Suppose you're right on that one, doh!
    Sorry mate, somebody must have hacked into my account and started posting sense again. I'll change my password.
    "The Net interprets censorship as damage and routes around it." - John Gilmore

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