LOSERS
Click to follow
The Independent Online

ROBERT BONNIER

The founder of Scoot.com (right) quit the company in June as it had just a few months' money left. The online rival to Yellow Pages was worth £2.5bn during the internet boom, but is now valued at less than £9m.

 

LORD WEINSTOCK

He saw GEC, the company he built up, reduced to a basket case four years after he stepped down from it. Now called Marconi, the conglomerate wasted the £2.6bn he left it, in an attempt to bea telecoms equipment maker.

PETER ELLWOOD

The chief executive of Lloyds TSB had his bid for Abbey National blocked by the Government. But the bid stopped a tie-up between Abbey National and Bank of Scotland, pushing BoS toward Halifax to create HBoS, a big threat to Lloyds TSB's market share.

MICHAEL BRIGHT

The founder of Independent Insurance became bankrupt after he borrowed against his shareholding in the company. That became worthless when the shares were suspended. A black hole in the company's finances was found, and the Serious Fraud Office is investigating.

 

SIR IAIN VALLANCE

The chairman of BT was forced out of his post a year early. He had been on a spree of acquisitions overseas, swelling BT's debts to £30bn.

Comments