First the Baggies were relegated, even though they played some really good football andÂ proved toÂ beÂ by far the most attractive of the promoted sides last season, and now theÂ building society has gone bust.
Well, actually I don’t thinkÂ it has gone bust because a rescue package has been agreed, but it has imprudently mis-lent its way into a position where it would have been bust without a bail-out.
In this, it’s certainly not alone.Â At the BSA conference in HarrogateÂ a couple of weeks ago, I detected a pallor in the faces of a remarkably large number of the delegates which, I decided, meant that they weren’t expecting to be at the conference next year.Â (It’s possible, of course,Â that the pallor simply indicated that their provincial home towns hadn’t seen much sun yet this spring.)
It hadn’t occurred to me before that there might be a correlation between the performance of towns’Â financial institutionsÂ and their football teams.Â If there is, it doesn’t seem to work in Scotland, because Dunfermline had rather a goodÂ season this year.Â Â And I don’t think it can apply in Middlesborough, where the team has been relegated but I don’t believe there is much in the way of a financial services sector.Â ButÂ as well as West Brom, itÂ certainly appliesÂ to Newcastle, home toÂ Britain’s previously-worst-runÂ mortgage bank and currently-worst-run football team;Â and things certainly haven’t been going well forÂ Derby County or for that region’s now-rescued building society, or for the equivalent institutions of Scarborough.Â
And then of course there is the enigma that is Norwich and Peterborough – Norwich relegated from the Championship, Peterborough promoted from League 1.Â Â Â What are the implications for the building society?Â Looks like it can expect some ups and downs.