Monday, 14th January, 2013
Stock exchange
Much like the FTSE 100, the second week of New Year trading kicked off this morning in the Pembrokeshire County Council Exchange, the PEMB 60 index.
Trading on the floor of the County Hall stock exchange for the PEMB 60 opened this morning at: IPPG 32, LAB 8, PC 5, CON 2, UGLY 13.
Keen economists in Pembrokeshire will know that, in the fortnight or so following the May election the PEMB 60 index was all over the place, but has been rock-steady ever since the council’s AGM.
However, rumours abound this morning that the defection of a senior member of the IPPG (name supplied) has resulted in mid-day stock in the IPG being reduced to 31. This is the first drop in value for IPPG stock since May 3rd when the Pembrokeshire electors took to short-selling their shares via the ballot box en masse.
The consequence of this rumour appear to be backed-up by mid-day indicators, and interestingly, brokers don’t appear to have been making speculatory investments in other shares of the index in the wake of this bombshell.
The values of all other stock, even the UGLY shares, remain consistent. This can only suggest that speculators find it unlikely this councillor will join an existing group or become unaffiliated, so the formation of a break-away group is a real possibility, and will likely result in the hostile acquisition of further IPPG assets.
An update with further information will be provided, if known, at the end of the day.
Update
Cllr. Peter Stock tendered his resignation from the Independent Plus Political Group this morning in a letter hand-delivered to the group leader, Cllr. Adams.
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The rumour mill has Peter Stock as the resignee. Will the domino effect kick in? Unhappiness at Huw George still being the deputy leader is a festering sore in the IPPG, but in an ability free zone who could they choose?
I do not understand why the several current and former Labour members now aligned with the IPPG do not have the courage of Peter Stock [did I really say that] and resign the IPPG.
Former Labour member Rowlands has, I’m afraid, been telling porkies about his career in education. His claim that he was a headmaster, which presumably influenced Jamie Adams into appointing him, is just not true. A deputy headship, based as it often is in reward for long service, just does not cut the mustard. Such fantasists are better of amongst their fellow travellers in the “we are not a party” party.
A local politician telling porkies – how unusual!
That’s Ken Rowlands outed then Dave. What about the two card carrying Labour members shoring up this discredited administration? Shouldn’t they do the decent thing?
I have no reason to believe that Cllr. Rowlands has ever made any claim that he was a school headteacher.
All I know is that, in the press release announcing his decision to appoint Cllr. Rowlands to the education portfolio, Cllr. Adams says his new appointee is well-qualified for the role, having spent “many years as a head teacher.”
Yes Concerned, they should. My advice, ignored obviously, was that there was more to be gained by children, old people and the Labour Party by providing constructive criticism from Scrutiny Committees rather than joining the cabinet.
When it suits BPJ and the IPG the statement “well, Labour are to blame as much as we are” will be trotted out.
Readers will be pleased to hear that Old Grumpy’s new broadband router arrived this afternoon, so you can expect an update on his website this evening.
I wonder how long Cllr Stock will remain outside the IPPG.
Perhaps David Edwards could inform us what reasons his colleagues in the Labour Party give for supporting the Independent Plus Political Group?
Sorry Malcolm I have no idea why Labour councillors did what they did, I was probably the last one to find out, relying as I was for rumours via Plaid Cymru to keep up to speed in May when it all happened.
Ken Rowlands is my County Councillor and I have always known he was a Deputy Head Teacher, so how he became Head Teacher is either a mistake by the Telegraph or someone else at the Council (Councillor?).
And no one has asked me to write this, as so many conspiracy theories seem to abound…
Andrew, this was certainly not a mistake by the Western Telegraph.
The press release issued by the council states: “Councillor Rowlands is well qualified to undertake his new duties as he has spent a distinguished career in education, spending many years as a head teacher.”
It couldn’t be clearer than that!
This was emailed to ALL councillors on 11 January – four days before the WT went to press – so there was plenty of time for Cllr Rowlands, or someone else, to spot and correct any error.
Indeed, my understanding is that this issue was discussed by senior members of the IPPG on Monday 14 January. If, as you claim, this information is inaccurate, some explanation is required as to why the Western Telegraph was not told so that a correction could be made before the paper was published.
Would someone explain to me what constitutes a distinguished career in education, when according to the experts, 25% of 16 year olds have a reading age of 9 and industry complains that many leaving school are not equipped for the workplace.
They must be intelligent if they can do Jacob’s verification sums. Damn, what is 5 + 2?
52.