Business Diary: A flotation that’s all about Me Me Me
Wednesday 08 December 2010
We're not sure what to make of Cathal Morrow, who has come up with a novel idea for a protest against all that is wrong with our financial system. He plans to float himself on the London Stock Exchange – as Me Me Me plc – and is soliciting support from would-be shareholders.
It's afascinating idea but what will Mr Morrow do with all the cash, should he be successful? Might it go to his head? And note that his last intellectual project of this sort, sponsored by a private-equity firm, was to go a whole year without telling a single lie. That doesn't bode well for a capitalist.
Strike one against 'Ebeanezer Heinz'
Heinz, the global food company, is facing a strike at its plant in Wigan, where staff are nothappy with the pay deal on offer. The strike vote was pretty comprehensive – nearly 90 per cent of those who took part in the ballot backed taking action – and it has to be said that Unite, their union has come up with a decent slogan. "It's time Heinz stopped using Eb-bean-ezer Scrooge-like tactics," says the union's national officer Jennie Formby. Geddit?
Capital snow keeps Moulton grounded
Pity the good folk of the Edinburgh Chamber of Commerce. Battered by 10 days of wintry weather, they had been looking forward to a pep talk from the private-equity veteran Jon Moulton, who is now chairman of Better Capital. Sadly, the snow and ice put paid to the trip, with the closure of Edinburgh Airport meaning he couldn't make it to the lecture. Still, with Mr Moulton these days very focused on environmental issues, why didn't he switch to the much greener train?
City's thanks for Knight and Sants
Having spent the past few years defending Britain's most unpopular companies in her role as chief executive of the British Bankers' Association, it's safe to say Angela Knight is not universally loved. Similarly, Hector Sants, boss of the FinancialServices Authority, which let the banks get away with it, isn't everyone's cup of tea. Sweet then, that both of them have just been made honorary fellows of the Chartered Institute for Securities & Investment on the same day, in recognition of their "exceptional personal contributions to the City".
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