The Alliance and Leicester is advising its shareholders to approve the proposed takeover by Santander to avoid major risks to the business in the future.
A letter has been sent to all Alliance and Leicester shareholders from the chairman explaining that shareholder support would protect them from exposure to the economic slowdown that is hitting many financial institutions. He quoted external factors that are by definition out of the banks control.
The takeover of the Alliance and Leicester is set to go ahead in October, creating a much larger organisation that would be responsible for around ten percent of all the current accounts in the UK.
The Alliance and Leicester claims that the majority of entrepreneurs that do well are the first born child and have at least one brother or sister.
Having spoken to business owners across the country the Alliance and Leicester found that 60 percent of them were the eldest child in the family, with 85 percent of them having younger siblings. This suggested that they could have developed their teamwork and leadership skills.
Other personal traits that are the sign of a successful entrepreneur include dependability, consideration and being a good listener. The Alliance and Leicester also found that state education works well for the entrepreneur, with over 70 percent having a regular state education.
Over 5,000 copies of the Nationwide Building Society Teenagers Guide To Money have been distributed to schools and colleges across the country.
The reason the guide was produced is that just under 70 percent of teenagers in a Nationwide Building Society survey stated that they did not really understand much about finance. With this in mind the Nationwide want to equip young people with a better knowledge and understanding of finance so they can make better choices when selecting a bank account and have to manage their own money.
A Nationwide Building Society spokeswoman said that the teenagers guide would help those people leaving school and equip them with a knowledge that will stand them in good stead for the future.
