Nationalisation of Northern Rock that Northern Rock was to be nationalised claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under a "temporary period of public ownership". The government is the sole shareholder through UK Financial Investments Limited, and the Bank is managed at "arm's length" on a commercial basis by an independent board under Ron Sandler. Customers are not affected by this change. A Government-appointed arbitration panel will decide on a fair price for the compensation to be offered to investors for their shares. Prior to the markets opening
Chief executive (Irish local government) additional three years). The retirement age for County or City Managers is 65. If a Council wishes to suspend or remove a chief executive, a resolution must be passed by the Council. At least Three quarters of the Councillors vote for the resolution after 21 days' notice. The Minister may appoint a panel to determine the proposal, or may sanctions the removal of the chief executive. Local Government Reform Act 2014 Sec 146 As well as the chief executive, some counties and cities also have Assistant/Deputy chief executive. After consultation with the head of the elected council (Cathaoirleach or Mayor)