Business Diary: Sound advice for borrowers
Monday 09 May 2011
You've seen the movie (played out in real time over the past 12 months), now read the book. Jason Manolopoulos's new tome, Greece's Odious Debt: The Looting of the Hellenic Republic by the Euro, the Political Elite and the Investment Community, is an enjoyable romp through the story of how Greece got caught out in the international economic crisis. It begins with a tip from Aristotle Onassis, which his countrymen appear to have taken just a little too literally: "To be successful, keep looking tanned, live in an elegant building (even if you're in the cellar), be seen in smart restaurants (even if you only nurse one drink) and if you borrow, borrow big".
Social ventures get competitive
Now look – we at The Independent are big fans of social investment, businesses where managers aren't solely motivated by profit but also want to do some good for the world, but even for us social venture top trumps is a bit much. Still, that's what we've just been sent by the promoters of Big Venture Challenge, a new contest to find social entrepreneurs. The top card, for the record, is Divine Chocolate, which beats allcomers both on its stats for turnover and the number of people helped each year.
Another sport we gave the world
Bloomberg BusinessWeek, the American business magazine, has news of a hot new craze among up-and-coming executives in the country: table tennis. Who says the Americans are world leaders? We humble Britons recognised years ago that the sport could go hand in hand with businesssuccess: just ask John Varley, the former chief executive of Barclays Bank, renowned for his ping pong prowess. Retail tycoon Sir Philip Green plays a mean game too.
Dimon's tough love on housing
Had your home repossessed? If so, don't feel bitter about the mortgage company that took your keys – it was doing you a favour. Just ask Jamie Dimon, the chief executive officer of JPMorgan Chase, one of America's biggest banks, who doesn't have much time for those complaining about the millions of Americans who have lost their homes. "Giving debt relief to people that really need it, that's what foreclosure is," he says. You should be thanking him.
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- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Tidal: Jay Z's Spotify rival streaming service criticised for making wealthy artists even richer
- 4 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 5 A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
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Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Germanwings plane crash: Transcript reveals passengers 'screamed for over five minutes' before plane crashed into mountain
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
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