The information from Lloyds TSB is certainly of the nature "Turkeys please vote for Christmas".

My understanding of the proposals is that the bank wishes to increase its capital base from 1.8 billion to 5.8 billion by the issue of new ordinary shares and with some of the proceeds, buy back the preference shares issued from HM Government then proceed on its merry way.

The dilution of the share value means that every shareholder would have to buy two shares for every one they presently hold to maintain the existing level of income they currently enjoy (that is if a dividend is paid at the current level, or for that matter paid at all).

As Lloyds TSB shares are held by many unit trusts and pension funds, as a valuable source of income, it would have an adverse effect on these institutions, which might then lead to wholesale selling of the Lloyds TSB shares and at what price?

I would appeal to all shareholders, private and institutional, to exercise their votes against this merger.

Let the Bank of Scotland regain its integrity and be a bank for Scotland. The Halifax could be supported until it weathers the storm and again take its place as a savings and mortgage provider. It would be good if it could regain its mutual status. Lloyds could go on being a prudent retail bank and let us see if they are as good as they say they are.

Enough is enough, it is no time for the prudent to be called upon again to bail out the feckless (and if Dr Cable is right), the greedy.

From: Barbara Burton, Thwaites Brow Road, Keighley.

I COULD hardly believe my eyes when I read that "analysts" support the decision of Lloyds TSB to hire Andy Hornby, the disgraced chief executive of HBOS as a "consultant" at £3,000 a day.

It always amazes me how chairmen/chief executives who lead their companies into financial meltdown are able to reappear in a similar role, in this case not even months, but merely weeks later.

I wonder what the thousands of HBOS employees, particularly in West Yorkshire, think of Mr Hornby's reinvention, especially as they still do not know if they will have any job in the future, let alone paying £3,000 a day.


Latest example of Forces' tradition of service

From: J Froggatt, Stony Lane, Honley, Holmfirth.

AFTER Remembrance weekend, as a former member of the Royal Air Force, on behalf of the Bradford Branch of the Royal Air Forces Association, and hopefully other members of the community, I would like to offer congratulations to Wing Commander Gerrard and control tower support staff at RAF Linton on Ouse for their absolute professionalism in ensuring the safety of the disabled civilian pilot (Yorkshire Post, November 7). We are constantly aware of squadrons on the frontline in Iraq and Afghanistan who are playing an important part in their peacekeeping role and, quite rightly, will return proudly with the active service medals they will have earned.

Only occasionally do we hear of actions of UK- based airmen (and ground crew) who, on a regular basis, are involved in life-saving situations for which they neither expect nor receive any additional commendation.

Reports such as this make one proud to be part of the Royal Air Force Family and let us hope, on this exceptional occasion, that the powers-that-be find some way of recognising the efforts of all involved.

From: Mrs J Measures, Ripon.

Ian K Hollas is right (Yorkshire Post, November 8) as to which side poppies should be worn. Gents left, ladies the right side. May I also point out that the leaf represents the 11th hour of the 11th month and should therefore be pointing at 11 o'clock.

From: AG Marsden, Pledwick Lane, Sandal, Wakefield.

IN your issue (Yorkshire Post, November 8), Mr Hollas asks about which side one should wear the poppy. My answer is that if you travel by car, whether as driver or passenger wear it on the side away from the seat belt.