Business

In the boardroom

10 October 2009
Richard Northedge

ITV shareholders did not wait for Sir Crispin Davis to be appointed chairman before saying publicly they didn’t like him. No wonder people are thinking twice before putting themselves forward to head our major companies. Even salaries of £500,000 plus share options have left supply well short of demand in the ‘C-suite’. A large number of companies have been searching for a chairman this summer but the pool of candidates seems noticeably small: the same names are touted for each job and the rejects join the next shortlist as soon as one vacancy is filled.

Davis, former chief executive...

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In times like these, the burger is king

Matthew Lynn

Steve Easterbrook is in bullish mood. From his utilitarian office at McDonald’s headquarters in a slightly drab corner of Finchley, London, the UK chief executive of the mighty fast-food chain reckons his company is coming through the recession in good shape.

‘Even in a sector as resilient as ours, it’s tough out there,’ he says. ‘We’re noticing that along with everyone else. But having had a very strong 2007 and 2008, with double-digit sales growth, we think we can do that again in 2009. This will be our fourth consecutive year of growth.’

In a recession, he judges, a chain...

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Robust roots

Simon Courtauld

It is time to go back to our roots. As the days shorten, the nights get colder and the clocks change, culinary thoughts turn to those robust root vegetables which will sustain us through autumn and winter. None is more robust than the swede, or Swedish turnip, which used to have a reputation as ‘famine food’ because much of the German population survived on swedes during the last two winters of the first world war. Even today, there are those who think of it as a vegetable which should be fed to cattle – but it deserves more favourable consideration....

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From cheap-as-chips to dainty tartlets

Judi Bevan

Of all the supermarket groups, Wm Morrison has ridden the recession wave like a ‘big kahuna’ – that’s surfing slang for the best dude on the beach. Outsiders put it down to the marketing brilliance of Marc Bolland, who joined what was then a distinctly ailing group three years ago. Insiders point out that before Bolland arrived, finance director Richard Pennycook had already sorted out the finances and put in some sensible practices. Both have been lucky with timing.

In the past year, as the credit crunch gave way to recession, Morrisons’ fortunes have blossomed. Every month the TNS market-share...

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The Connoisseur’s Diary

3 October 2009

2nd October
New York: Opera
Verdi’s Aida opens at the Met, conducted by Daniele Gatti, former principal conductor of the Royal Philharmonic Orchestra. Lithuanian soprano Violeta Urmana sings the title role.

4th October
Paris: Racing
The Prix de l’Arc de Triomphe is a Group 1 flat race held at the Longchamp course and one of the most fashionable race meetings in the calendar. It is one of the four French Classics and has a prize of €4 million, the second biggest prize on the turf after the Japan Cup (on 29 November).

4th October
Japanese...

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Fat problem, fatter profits

Janice Warman

It’s September 2009, and here comes a fat child in Tesco, Swansea, trailing after her fat mother: in each hand she has a chocolate doughnut; chocolate is smeared across her face. In the shopping trolley is the box containing the rest of the doughnuts.

It’s a depressing picture. According to the World Health Organisation, more people (1.6 billion) are overweight than starving (850 million). By 2015, approximately 2.3 billion adults will be overweight and more than 700 million will be obese.

When Britain was dubbed the Fat Man of Europe 13 years ago, 23 per cent of adults were classified...

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