GMB protest targets Southern Cross landlord


Posted on February 1st, by editor in Caring Times. No Comments

A public protest organised by the GMB Union to highlight the role of the Qatari Investment Authority (QIA) as a landlord to corporate care provider Southern Cross was held outside the QIA-owned Harrods in London on March 3.
Southern Cross has reported a 65% drop in pre-tax earnings for the first three months of its financial year as a consequence of a 14% decline in local authority placements. The Financial Times has reported that the company’s net debt nearly tripled to £21.4m in the same period.
GMB general secretary Paul Kenny said his union wanted the QIA to meet a delegation of residents, their relatives and staff from Southern Cross care homes.
“The QIA raised £1,110 million in bonds to buy 300 care homes from the private equity company Blackstones in 2006,” said Mr Kenny.
“Rents are being overcharged to the tune of £60 per week per care home





Comments are closed.


Latest blog posts

The bland leaving the bland?

By guest blogger JEF SMITH

The headline for an interview which Sir David Behan, the Care Quality Commission’s departing chief executive, gave to The Guardian...

IT comes to CQC

By guest blogger JOHN BURTON

This month, IT is coming to CQC in person. David Behan is leaving, and DB’s replacement is IT, Ian Trenholm...

The future’s bright, alright?

By Caring Times editor GEOFF HODGSON

There has been a lot of debate about ‘hard’ and ‘soft’ borders of late (if it’s any help, I like...