Cheltenham MP Meets Yorkshire Boss

Cheltenham MP Martin Horwood has met with Yorkshire Building Society boss Iain Cornish to discuss the future of Chelsea Building Society's two Cheltenham sites and 700 local jobs. He has already met with acting Chelsea chief executive Stuart Bernau to discuss the merger of the two building societies which is due to take place next year if approved by their members.

'Once again, I'd like to say how much I appreciate the very open approach of both Chelsea and the Yorkshire' said Martin. 'It is clear that redundancies are inevitable and that staff in Cheltenham are facing an uncertain future but this very early meeting with the Yorkshire's chief executive is a positive sign that they are not afraid to be open and consultative. My impression is that Iain is genuinely committed to discussing the future of Cheltenham jobs before any major decisions are taken. I felt it was important to make the immediate case for people in Cheltenham but obviously the real consultation must be first and foremost with the workforce in Cheltenham themselves. At the moment there is no staff representative body or trade union at Chelsea and I'm very pleased that one of the first steps that has been agreed with the Yorkshire is to elect staff representatives who can be involved in decisions and discussions. Yorkshire have an established independent staff association and I am hoping to meet with them as well as with staff representatives from Cheltenham as soon as possible.'

Martin's discussions with Iain Cornish focussed on the overlap between the two building societies and the future of jobs in the Chelsea's Thirlestaine Road and Charlton Kings sites.

'I was reassured that the senior management at the Yorkshire aren't simply planning to turn Chelsea into a cipher' said Martin. Although they have made clear that only one site will survive and that jobs will have to go, they also appreciate that there are distinctive and valuable features of Chelsea's business that would be lost if it was reduced to no more than a brand name. That makes me more hopeful that a substantial number of jobs really can be saved in Cheltenham. I will continue to press for this to happen and I hope to work closely with staff representatives in Cheltenham as soon as they emerge.'

'I put the case for Cheltenham as strongly as I could. I genuinely believe that Chelsea have an extraordinarily committed and talented workforce and that Cheltenham's unique pool of expertise in marketing, financial services and technology would all serve the new merged building society well in the future.'

Cotswold Male Voice Choir Are Looking for New Members

Rehearsals take place from 13 January 2010 onwards at Dean Close School.

Like to Sing? Join The Costwold Male Voice Choir! The choir is now 60 years old and has a full bookings schedule for 2009 and 2010 - but they need you! They are looking for new members for this sociable, reliable, and experienced Male Voice Choir. They rehearse each Wednesday at Prince Michael Hall at Deans Close School in Cheltenham (chosen for its easy links to all major roads).

1st Tenor (....like singing in tight jeans!)
2nd Tenor (...they follow the tune!)
Baritone (....more volume than the next section!)
Bass (....if you like melody, this is the section for you!)

All sections are welcoming and its great fun to learn the new songs as a team in one unit. Our dedicated committee and Musical Director with brilliant pianist make this group of choristers a joy to sing with. So go on! Give it a go! For more information go to http://www.cotswoldmvc.org/ or call our secretary Paul Hipkiss on 01242 511139.

Meet Your MP Martin Horwood in Cheltenham This December

Martin Horwood is the Liberal Democrat Member of Parliament for Cheltenham. If you need to discuss any matters with your local MP, you can arrange an appointment at his advice surgeries on Friday lunchtimes or evenings. Appointments can be booked by phoning the office on 01242 224889 or e-mailing martin@martinhorwood.net.

You can also meet Martin at various events taking place in and around Cheltenham.


Monday, 14 December 2009
7:30am
Martin has arranged to visit the Royal Mail delivery office in Swindon Road to meet staff and find out about the local operation and how they deal with the huge amount of Christmas mail.
midday
Last week Martin was presented with an award at the Dods Charity Champion Awards – Martin won the Animal Welfare Champion award. He was nominated for this award by Naturewatch, an animal welfare charity based in Cheltenham (in Hewlett Road, next door to Martin’s office). There will be a photo call with Martin, Naturewatch staff and the award, at midday at the Naturewatch office.
5:45pm
Martin is attending the Christmas lights switch-on and singing by 19th Cheltenham Brownies at 50 Hollis Gardens in Cheltenham.

Tuesday, 15 December 2009
3.30pm onwards
Martin is leading for the Liberal Democrats on the Flood and Water Management Bill which receives its Second Reading in the House of Commons this afternoon. In Second Reading, the format is a debate where the merits and general principles of the Bill are discussed by all parties.

Wednesday, 16 December 2009
2:00pm
Martin has been invited to be in the audience for a Key Stage 2 performance of Cinderella at St John’s Primary School in Albion Street.
7:00pm
Martin is going to the local Friends of the Earth Christmas party at St Luke’s Hall in Cheltenham.

Thursday, 17 December 2009
2:30pm
Members of St Matthews Thursday Club have invited Martin to join their Christmas party at St Matthew’s Church in Clarence Street.
6:30pm
Martin is going to the Cheltenham North Rotary Club Christmas Dinner at the Queens Hotel.

Sunday, 20 December 2009
6:00pm
Martin is going to a Christmas Carol Concert at the Church of Jesus Christ of Latter Day Saints in Thirlestaine Road.

To keep up-to-date with Martin's Horwood's appearances in parliament please visit our website.

December Gigs in Cheltenham

11 December 2009
The Subterraneans at The Front Rooms, 9:00 PM

12 December 2009
Zoidberg, Loungefly & Nights @ the circus at The Two Pigs
Screaming 88s, The Monicans, Coxon's Riot & support TBC at Frog and Fiddle, 8:30PM, £ 5.00
Final Duo at The Front Rooms, 9:00 PM

15 December 2009
The Gannets featuring the Guillemot's Fyfe Dangerfield at Slak Bar, 8:00 PM, £5 in adv £6 on the door

17 December 2009
Open Mic Night at The Front Rooms
Johnny Coppin at the Town Hall, 7:30PM

18 December 2009
Socken, 2 sick monkeys, Joe and the sluts at The Two Pigs

18-19 December 2009
The Downstroke at The Front Rooms, 9:00 PM

24 December 2009
The Subterraneans at The Front Rooms, 9:00 PM

31 December 2009
Red Lemons at The Front Rooms, 9:00PM

Cheltenham MP Is Concerned about Chelsea Building Society Takeover

Cheltenham MP Martin Horwood expressed real concern over the proposed merger of Chelsea Building Society with Yorkshire Building Society and particularly the future of 700 jobs at the Society's Thirlestaine Road headquarters and its Charlton Kings site. The 'merger' announced today promises that the new enlarged Yorkshire Building Society will retain its head office in Bradford, retain only an 'operational presence' in Cheltenham and retain the Chelsea name only as a brand. The merger still has to be voted through by Chelsea members and has to be given the all-clear by the Financial Services Authority which is likely to take place in the new year. The merger itself is likely to take place on 1 April 2010. It will create the UK's second largest building society with assets worth more than £35 billion.

'This had an air of inevitability about it but it is still a sad day for the Chelsea and for Cheltenham', said Martin. 'The Society will remain a mutual organisation and if a merger with someone had become inevitable, then Yorkshire is probably one of the best possible partners, particularly as it is a strong mutual itself and the two branch networks complement rather than duplicate each other. But I have grave concerns about the job losses that are going to result in Cheltenham. This is, in effect, a takeover. I have been assured that there will be a 'significant operational presence' here on top of any branch presence but that this will only be guaranteed for three years and that it will probably be at just one site.'

'I have also been promised a meeting within days with chairman and chief executive Stuart Bernau at which I will raise the future of staff in Cheltenham and also my concerns about the future of Chelsea's community involvement programme which has benefited many local schools and charities, including LINC, Sue Ryder Care, Winston's Wish, Gardner's Lane, Lynworth Primary and Christ College.'

'But there are deeper questions for the society and the mutual sector to answer. How did a building society, supposedly based on strong mutual values, get into such a position of weakness? I was being assured not that long ago that Chelsea's finances were strongly based on retail savings and that it was less exposed to recession than many of its banking competitors. That turns out to have been what could be politely called 'optimistic'. There is little that they could have done about their exposure to the Icelandic bank collapse - many local authorities and other institutions were caught the same way. But that is only part of the picture. Underlying profitability was clearly pretty weak and Chelsea's future looked bleak from the day their credit rating was downgraded by ratings agencies in April, following their public revelation that they were exposed to up to £41m worth of fraudulent mortgage deals. And it's now clear that resulted from the society departing from its traditional mutual values and indulging in risky practices very similar to its banking competitors, including aggressively marketed buy-to-let mortgages, self-certified, sub-prime and high loan-to-value mortgages.'

'I will be asking questions in Parliament about the road that led to takeover and the role of the Financial Services Authority and I will also be seeking meetings with the Building Societies Association and the mutuals organisation Mutuo to discuss the issue. Building societies should have been part of the solution not part of the problem.'