Business and Financial News

Co-operative Group members will share a record £50.4m dividend payout, it was announced today.

The dividend, which will be paid this month, represents a 30 per cent increase on last year’s £38.8m.

It is based on the Manchester-based group’s £402m profits for 2009, which were up 85 per cent on 2008 on the back of its acquisition of Somerfield and the merger of its financial services arm with Britannia Building Society.

The remaining profits will be invested back into the business, although a spokesman said there were no plans for any more acquisitions.

Funding is required for the group’s travel arm, which is looking to open up to 150 high street shops over the next four years in a bid to take on Tui and Thomas Cook.

The group is also planning a multi-million pound new 350,000sq ft headquarters in a corner of Manchester city centre which will be renamed the Co-op Quarter.

Patrick Allen, director of marketing, said: “Last year was particularly successful for us.

“The trading group acquired Somerfield in March, Co-operative Financial Services merged with Britannia in August and we launched the new Co-operative brand with a high profile advertising campaign.”

The dividend pot will be shared between the Co-op’s 5.1m members, who will get a cash payment based on the number of points they earn when they spend money at any of the Co-op’s businesses.

Members met at the Co-op’s AGM in May to vote on what proportion of profits would be paid out and how much would be retained for internal investment.

They chose a payment of 2p per point, with one point awarded for every pound spent in Co-op stores.

That means an average payment of £9.88 per member.

Dividends are paid to members every six months, in June and an interim payment in November.

More than a million members elect to donate a percentage of their payout to the Co-operative Membership Community Fund, which will this year distribute £1.6m to charity groups working in local communities.

Nearly 400 jobs are at risk after the parent group of Pilkington’s Tiles, which has its landmark headquarters in Greater Manchester, was placed in administration.

Staff at the privately-owned company were in tears yesterday when they were told the grim news.

The decision to appoint administrators follows an unsuccessful attempt to refinance the Pilkington’s Group business.

Pilkington’s Tiles has its main base at Clifton Junction, Salford, a factory and quarry site in Poole, Dorset, a showroom and factory shop in Audenshaw, Greater Manchester, and a facility in Swords, Dublin.

Brian Green and Paul Flint, of KPMG Restructuring in Manchester, were appointed joint administrators of the group yesterday.

They have also been appointed joint administrators to Pilkington’s Tiles (Ireland), Pilkington’s Tiles Ltd and Quiligotti Access Flooring.

Most of the group’s 380-strong workforce have been laid off with immediate effect although there have been no redundancies so far.

Around 40 employees have been kept on as the administrators try to come to agreements with customers over outstanding orders.

Pilkington’s was founded in 1892 and last changed hands in 2004 when it was taken private by a consortium.

Last year it announced a £500,000 investment at its Salford factory to develop product ranges, manufacturing equipment and a new factory outlet bathroom showroom.

Its tiles are supplied directly to householders as well as builders, DIY chains, builders’ merchants and architects.

They are used in schools, airports, hospitals and homes and its brands include Pilkington’s and Quiligotti Terrazzo.

One distraught employee said: “Pilkington’s is an institution and to see it go into administration is heartbreaking.

“A lot of people were in tears when they heard the news. Ma

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One of the best things about living in Des Moines is the spirit of giving that thrives in our community.  Maybe it’s a Midwest thing…but we truly do believe that neighbors should help their neighbors. 

Need proof?  Look no further than all of the amazing non-profits that serve those who need a helping hand.   Whether they help sick children, people who are physically disabled, the poor or those who are discriminated against — these charities have one thing in common.

They need to tell the world about their work and invite people to join them in their efforts.

But of course, most charities are understaffed, spend very little money on administrative things like marketing and are typically communicating in a very “homemade” fashion.  

That’s where you can help.

For the past several years, McLellan Marketing Group has been adopting a charity for an entire year.  With the help of some very special business partners (see the list below) we are able to wrap our marketing arms around one charity for the year — giving them over $100,000 in marketing services and tools.

We couldn’t have created this program without our partners.  Thanks to their generosity, the selected charity will receive:

• branding and marketing expertise
• a marketing plan
• marketing counsel
• communication materials (brochures, funds appeal pieces, etc.)
• board development guidance
• a fundraising plan
• original photography
• a website (or revamping of their current site)
• video production (a video or TV spot)
• audio production (radio spots or audio for another project),
• social media tools/coaching

Here’s how you can help — please spread the word.  We don’t want a worthy charity not to be considered because they didn’t know to apply.  The application can be downloaded by clicking here.

But tell them to hurry — applications are due by June 30th!

Who is helping make this happen?  Meet the Adopt a Charity Team for 2010/2011.

McLellan Marketing Group
Radio Garage
TPG Companies
That Video Guy
Bill Nellans Photography/East Court Atelier

Do you think you have something to add to the team?  We’d happily consider other partners who can make this year’s marketing makeover an even bigger success for the chosen charity!  Shoot me an e-mail if you would like to help.

Timothy Lambert, Head of Consulting at Ducalian, said first-time buyers should not be pressured into buying at the moment because they believe the bottom of the market is imminent.

He continued: “This is not the case but is portrayed this way in the media. Full Article…

uSwitch.com acknowledged that consumers may initially be put out by the changes, but the decision could favour them in the long run.

Communications Expert Matthew Wheeler said: “O2’s ‘unlimited’ plan saw customers who went above its ‘Excessive Use’ policy charged per day for internet use. Full Article…