Society

Was ABN Amro a deal too far for Fred the Shred?

The title of the worst deal in British corporate history is hotly contested. Glaxo and SmithKline were worth £107 billion on the day they announced their merger: eight years later, they’re worth £57 billion, and they’re not quite the ‘kings of science’ their chief executive Jean-Pierre Garnier said they would be. Getting on for a decade after it paid £75 billion for Mannesmann of Germany in Europe’s largest hostile bid, Vodafone still hasn’t recovered. Capping both of those, Lord Simpson’s foray into the American telecoms industry after he took over at GEC and renamed it Marconi is always going to take some beating for the speed and thoroughness with which

Martin Vander Weyer

Any Other Business | 23 February 2008

In the end, they may have to auction what’s left of Northern Rock on eBay When the nationalisation of Northern Rock was announced at the beginning of the week, commentators queued up behind the shadow chancellor to declare a return to the dark days of the 1970s and to dance on the ashes of Alistair Darling’s career. It took a little longer for us all to work out what a horrendous task faces the new management duo of Ron Sandler and his chief financial officer, who rejoices in the name of Ann Godbehere. Let’s hope He is, because they’re going to need a miracle to rebuild a profitable business out

Groundhog Day

With the prison population reaching an all-time high of 82,006 (only 21 places short of full capacity), Jack Straw once again begs judges to consider more non-custodial sentences.  Of course, it’s embarrassing for the Justice Minister.  His line is wide-open to opposition attack, and he’s condemned to repeat it until those Titan prisons are finally completed.  Not that we should feel sorry for him.  Straw should have made the right, forward-looking decisions during his time as Home Secretary between 1997 and 2001.  Yet, somewhat masochistically, he’s reluctant to take the proper steps even now.  The result?  Numerous tragedies waiting to happen.

Alex Massie

Twittering…

Being envious of friends in Washington who are twittering about what would seem to be a rather splendid lunar eclipse tonight I signed up to Twitter. Needless to say I have scarcely any idea as to how it is supposed to work or what it is for. The FAQ were not entirely encouraging: But… what is the point? As it turns out, your best friend is probably interested in knowing if you’re “loving the new Radiohead album.” And yes, your Mom may want to know if you’re “skipping breakfast in favor of a latte.”  You might want to know if your significant other “feels like taking a roadtrip.” Find out

Chinese whispers | 21 February 2008

Judging by this post over at Sky’s Adam Boulton & Co. blog, the dispute between Steven Spielberg and China over Darfur has just entered the realm of the bizarre.  According to Chinese Ambassador Liu Guijin, Spielberg never accepted the role in the first place, so – apparently – “there could be no question of a resignation”. So why, then, was the first Chinese reponse to Spielberg’s decision one of “regret”?  This latest claim is damage-limitation to the point of madness, and it reveals how worried the Chinese are about having their Olympics besmirched in any way.  The fact they need to face is that – rather than defusing the situation – continued denials will

Fraser Nelson

The brain drain goes into overdrive

Anyone who was depressed by the powerful splash in the Daily Telegraph today about Britain’s brain drain had best sit down. I have worse news. It may be a new OECD report, but the data’s from the 2000/01 census (first served up on CoffeeHouse). So the picture today will be much, much worse.  At the turn of the century just 161,000 Brits a year were emigrating. After a few more years of this wonderful government, the Brits voting with their feet had steadily risen to 206,000 a year. So how many Brits has Labour hounded out of this country? We won’t know until the next worldwide headcount, due at the turn of

Alex Massie

Semper Fidelis For Shame

I’d actually thought Castro’s retirement would prompt more of this sort of nonsense. I guess we’re still waiting for Seumas Milne to pipe up in The Guardian. Still, the palm for the most idiotic thing I’ve seen goes to Chris Bertram: …And, of course, Castro ran a dictatorship that has, since 1959, committed its fair share of crimes, repressions, denials of democratic rights etc. Still, I’m reminded of A.J.P. Taylor writing somewhere or other (reference please, dear readers?) that what the capitalists and their lackeys really really hated about Soviet Russia was not its tyrannical nature but the fact that there was a whole chunk of the earth’s surface where

The grim state of public finances

Once again, Gordon Brown has got away lightly with his gross mismanagement of the economy. Today’s public finances statistics were less bad than feared, thanks to strong revenues from income and corporation tax in January, but they were pretty grim nevertheless. That is not the impression one gets scanning today’s almost universally positive headlines, however. So here is a reality check: in the financial year 2007/08 to date, public sector net borrowing — the main measure of the budget deficit — has already reached £26.5bn. This is a cool £6bn more than over the same period last year, and represents a horrific deterioration in the health of the public finances.

A scholar who dares to look terror in the face

Michael Burleigh is riding a career high. The author of the 2000 bestseller The Third Reich: A New History has just published the last of a gargantuan trilogy of books on religion and politics in Europe since the French revolution. Earthly Powers and Sacred Causes took us up to the war on terror. Now, with Blood and Rage: A Cultural History of Terrorism, Burleigh comes right up to date. Not that Blood and Rage is only about Islamic fundamentalism. As the 52-year-old former academic tells me when we meet at his home in south London, the new book is about terrorism as a culture — as a way of life,

Israel is getting ready to invade Gaza

Lorna Fitzsimons talks to senior sources and concludes that, with heavy hearts, the Israelis are set to mount a military takeover of Gaza — a step that will leave the talks nowhere This is not the way things were meant to happen. When Ariel Sharon ordered the removal of all Israelis from the Gaza Strip in 2005, leaders from around the world applauded. It was a clear message that Israel was willing to do almost everything it could to resolve the decades-long conflict with the Palestinians — including returning land without any assurances of peace and security. However, the initial optimism was quickly curbed by the grim reality on the

Alex Massie

A Very 21st Century Racket

I think this is an advertisement for some kind of high-falutin’ weather forecaster. HEAD OF HORIZON SCANNING CENTRE   The Foresight Programme   London base – Competitive salary The Government Office for Science, led by the Government Chief   Scientific Adviser is located in the Department for Innovation, Universities   and Skills. Within this office the Foresight Programme strengthens   strategic policy making by embedding an evidence-based futures approach across government. Horizon Scanning (HS) is the systematic examination of potential threats,   opportunities and likely developments, including but not restricted   to those at the margins of current thinking and planning. The Horizon   Scanning Centre’s (HSC) main aims are

Alex Massie

A Great New Year’s Day at Easter Road*

The always excellent fitba blog More than Mind Games has a great story about football in the fog here, but it’s not as good as this one, that became the basis for a Radio Scotland play five or six years ago: IT IS not, on the face of it, a perfect scenario for radio. A football match so shrouded in fog that the commentator can’t see the game. Players who can’t see as far as their bootlaces. Conditions so bad that many are not aware that the action is over for 10 minutes after the final whistle. But throw in the Second World War, a need to keep the Nazis

Alex Massie

If you build it, they will need to come (and lobby)

Barack Obama – like John Edwards before him – and, I dare say, the majority of Democrats hates (or pretends to hate lobbyists). To listen to Democrats talk you might be think that lobbyists are (with nasty trade with foreigners of course) the greatest threat to the future well-being of the United States. And indeed there is something discreditable about the lobbying explosion in Washington in recent years. Still, however regrettable elements of the lobbying industry may be it seems pretty clear to me that removing or curtailing the right to petition your government would be a pretty severe infringement upon a pretty fundamental liberty. Furthermore, to the extent lobbying

A NEET idea?

The number of NEETs – that’s those young people Not in Education, Employment or Training – has swollen over the past decade. There were 154,000 NEETs aged 16-18 in 1997, and some 206,000 at the beginning of 2007.   To tackle the problem, James Purnell yesterday announced a crackdown on young benefit claimants. 18 year-old NEETs will have to look for work or face having their benefits stopped, and if they haven’t found work after six months of JobCentre Plus supervision then they’ll be drafted into private/voluntary sector programmes (this contrasts with a one-year period for the unemployed members of most other age groups).   It exemplifies the tough-love brand of welfare

Alex Massie

Media Spotlight on Kamloops Blogs? It Ain’t Nothin’ But a Zen Thing

So The Chicago Sun-Times is to start running signed editorials. TAPPED’s Dana Goldstein thinks this is a “good move” and wonders why more newspapers don’t do this. I imagine she’s in favour of this on the usual grounds of “transparency” and “accountability”. But it’s still a silly notion. Clearly, Ms Goldstein can’t have written many newspaper editorials. If she had, she would know that it’s rather unfair to make individual leader writers put their names to editorials they’ve written but do not necessarily agree with. This is not, despite what you may think, a rare phenomenon. Even when one is fortunate enough to write a leader relatively free from interference

James Forsyth

Hypocrisy watch

There is something rather tragic about the spectacle of Mohammed al-Fayed sounding off in the High Court about the establishment’s supposed role in the death of Princess Diana. One doesn’t know whether to laugh or cry when one hears about statements like this from Fayed: “Prince Philip rules the country behind the scenes. I think Prince Philip is the actual head of the Royal Family. He is a racist. He was brought up by his aunt who married one of Hitler’s generals. This is the man who is in charge who is manipulating and can do anything.  “Time to send him back to Germany from where he comes. You want

A new consensus

Bruce Anderson writes an essential piece in today’s Independent, in which he crystallises the tortoise-hare debate around changes in public opinion; the political narrative of the past thirty years; and Laffer curves.  His conclusion?  That David Cameron has the opportunity to forge a new consensus; one which doesn’t equate tax cuts with reductions in public services: “Messrs Cameron and Osborne will remain cautious about promising tax cuts without explaining how they are to be funded.  In one respect, however, the Tories can benefit from a change in public mood.  Over the past two or three years a lot of voters have come to believe that this government is wasting a lot of