Let's get down to business

Feb 19 2008 by Andrew Hebden, The Journal

A NEW era dawned for Northern Rock last night.

And under the guidance of new executive chairman Ron Sandler, the nationalised bank can now start rebuilding its battered reputation.

No one knows how long the process might take or how many more tears will be shed at Northern Rock House.

But during his first Press conference at the bank’s Gosforth headquarters yesterday, Mr Sandler showed why he might be the man to salvage a future for the Rock.

The Government’s decision to nationalise the bank has provoked a furore.

But today The Journal calls for the sniping to stop and for Mr Sandler to be given the chance to work with the Rock’s dedicated employees to get the bank back on its feet. He clearly believes he is up to the challenge.

Yesterday he firmly dismissed wild allegations in the national Press, and echoed by the Conservatives, that the only outcome is the withering death of the institution.

In contrast, Mr Sandler said he had discovered “a lot of very good things” about Northern Rock on his first day in the job.

“There is a platform here upon which to move forward,” he declared.

It is in everyone’s interest, not least that of the taxpayer, that Mr Sandler is given a fair chance to do just that.