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anybody had the letter today to merge the 3 housing trust in to one


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  [anybody had the letter today to merge the 3 housing trust in to one] - Posted: 24 October 2015 - 12:34 pm GMT
heather42

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did you all get the letter from peabody today about merging with cbha and gallion what do we all
think about it ?



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 24 October 2015 - 02:47 pm GMT
erewhon

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Peabody merged with Gallions last year, with CBHA in 1996, but they kept their own Boards at first.

In May this year CBHA tenants were protesting about the hostile takeover by Peabody, because they don't want to lose their say in how their estates are run. Peabody tried to hold consultations, but these were disrupted by tenant protests.

I am sure CBHA tenants are right to protest. Even if they do get some local involvement to start with, it could easily get whittled away in cost saving exercises thereafter.

But from a Peabody tenants point of view - we surely could do with input from tenants who get up and protest!

This I found :

Peabody would not confirm how much money it expects to save. However, the change would mean pension security could be held against Peabody’s non-social housing assets, preventing CBHA’s projected spend of £5m for nine years on pension costs.

It is also understood that Peabody Group expects the move to provide stronger governance for the organisation.

Gallions, which owns the well-known Thamesmead Estate in south London, merged with Peabody last year, while CBHA became part of the group in 1996.

The decision to collapse CBHA has proven controversial. Housing activists protested against the move last month arguing the move will lead to less tenant control.

In a document sent by Peabody Trust to Waltham Forest-based CBHA, Peabody pledged to protect local services currently run by CBHA. It said: ‘A local charter developed by residents will ensure residents continue to experience a local service.’

Sir Bob Kerslake, former permanent secretary at the Department for Communities and Local Government will take over as chair of Peabody on 1 June.



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 29 October 2015 - 07:18 pm GMT
Braindrain

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Quote

simpsonssabine3@aol.com wrote:

did you all get the letter from peabody today about merging with cbha and gallion what do we all
think about it ?


Yep, don't know what to make of it myself, they say it won't affect our tenancy agreement etc, that sounds good but this is the same Peabody that is known to say one thing and do something else, only small things in fairness, eg, 'all satellite dishes will be taken down by......'....'all iron gates will be removed by.....' blah blah blah but big or small someones word should mean something, it gets more and more meaningless when you see more and more things not been done the way they said they would be in letters they send.



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 30 October 2015 - 02:32 pm GMT
erewhon

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I can see the logic of the changes, I think (have not discovered details of implications yet).

Peabody will go ahead regardless of their 'consultation'. See what they did to CBHA:

CBHA tenants protested this summer about the Peabody hostile takeover. The CBHA board of governors did not make the decision that Peabody wanted, so were all sacked. Peabody put a new board in place.

http://www.harrowtimes.co.uk/news/13713004._Sacked__board_members_of_housing_association_call_for_reinstatement/

CBHA tenants lose a lot of involvement and control, and end up with the same impotence with regard to management of services and etc as Peabody tenants have.

CBHA is much smaller than Peabody. It would be much harder to enable effective tenant management of an HA the size of Peabody.

BUT maybe this is an opportunity to ask for more tenant governors, with tenants actually having some means of communicating with them. AND a couple more governors who actually represent tenants' interests, from the World Out There. I.e. with a good background in the financing, governance of HAs etc but committed to working in tenants' interests.

To achieve this would take mass action by Peabody tenants. What are the TAs doing - are they holding information meetings on this for tenants?? No sign of ours doing so yet.



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 24 January 2016 - 09:29 am GMT
adorno

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Peabody's 'consultations' are a joke. I remember the rigged polling conducted on the issue of estate offices. The questions were limited to two, neither of which included the option of keeping the estate offices.



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 08 December 2016 - 04:13 pm GMT
heather42

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yet another one Family Mosaic and stephen Howlett going and mosaic chief executive taking over was nice to get the letter 8 december and them knowing it will be complete around july 2017 and have the cheek to ask if we have any feed back like there gonna take notice from us peabody becoming a joke now



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 08 December 2016 - 07:18 pm GMT
zorrodp

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I think the Standard has hit the nail on the head.

Peabody's financial rating has not been great - rated A3 outlook negative by Moody's, having taken on some big liabilities, including Thamesmead.

http://www.peabody.org.uk/about-us/investors/investors
https://www.moodys.com/credit-ratings/Peabody-Trust-credit-rating-600016937 (need to register)
http://www.peabody.org.uk/media/6806/peabody-generic-presentation-sept-2016-1.pdf

They need scale, assets and a bigger balance sheet, with income under pressure, and pressures to produce more homes for sale.

http://www.standard.co.uk/business/peabody-deal-creates-6bn-housing-giant-in-merger-with-family-mosaic-a3414536.html

There's a lot more detail in the annual report etc.

http://www.peabody.org.uk/about-us/our-performance/publications-and-reports



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  [RE: anybody had the letter today to merge the 3 housing trust in to one] - Posted: 08 December 2016 - 07:43 pm GMT
Nik Wood

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Yet again we get a letter saying "We've done this. What do you think?" as though this isn't too [expletive deleted] late.

The Housing & Planning Act implementation is stalled in Parliament as one after another its nasty provisions are opposed on practical grounds by the industry. The only one that seems to be going ahead is the scope for housing associations to de-register from the Government's regulatory oversight of social housing. Mosaic are more into sales than Peabody have been so it looks like a move towards this unregulated, sales focussed approach.



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