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Article: Carpetbaggers should stay with the Woolwich - at least for now

Article from:
The Independent (London, England)
Article date:
April 7, 1996
Author:
Copyright

BUILDING society carpetbaggers may get the last laugh. Last week saw the ousting of Woolwich chief executive Peter Robinson for alleged misuse of the society's resources, including landscaping and decorative input to his mock-Tudor-style home in Brasted village in Kent.

It was Mr Robinson who coined the term "carpetbaggers" - savers who open accounts in the hope of a windfall.

His exclusion of perhaps 40,000 savers from the Woolwich's free shares handout turned into a serious PR gaffe. It was not just what he did, which theoretically meant more money for longer-term savers and borrowers, but his contemptuous je ne regrette rien stance which so enraged and contributed to threats of legal ...

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