16 September 2012

Is this meant to be an apology?

The Independent on Sunday sees the error of its ways:

Earlier editions of the London-based national press may have given the impression over the past few years that Andy Murray is an immature sour-faced, slovenly, Scottish choker who could not win a Grand Slam title even if his opponent were a one-legged, short-sighted octogenarian equipped with a banjo.
We now accept that, on the contrary, Sir Andy (as we hope you may style him come the New Year's Honours list, Ma'am) is a true-born British world-beater in the tradition of Sir Francis Drake and the Duke of Wellington.
...
Furthermore, it is possible that some readers may have formed the idea from our coverage of major tennis tournaments that his mother was a shrieking, coarse-voiced, hatchet-faced harridan who, having given birth to a loser, unwisely invested much of her time and money in the fruitless task of trying to turn him into a player capable of winning something. We now realise she is in fact an attractive, vivacious, sweet-toned shining example to the country's mothers, having recognised her son's unique talents and made many sacrifices to ensure they are fulfilled. We salute you.

Aye weel, you're still not forgiven.


 

13 September 2012

Deep waters

Here we go again.  The Independent reports:

The President of the European Commission has stepped into the row about an independent Scotland's place in the European Union by saying all new states will have to apply to join.
José Manuel Barroso's comments contrast with the SNP's claim that Scotland would automatically become a member state if voters back independence in 2014. Mr Barroso told BBC Radio 4's World at One programme that he couldn't comment on specific cases, but he added: "A new state, if it wants to join the EU, has to apply to become a member, like any state."

If an independent Scotland has to apply for membership, should that not mean that the UK rump should also be obliged to apply?  If not, why not?

Conversation of the week

From The Guardian (here):

Cameron: Why does everyone love Bozza so much?
Osborne: They don't know him.
Cameron: Well, I think serious times call for serious politicians.
Everyone: So do we. Unfortunately we've got you and Osborne.
Clegg: And me!
Everyone: In your dreams, loser.

   

Is bigger always better?

How big should a company be?  Is there a stage when economies of scale cease to deliver benefits?  And where governments are involved in defence-related companies, is there any real sense of competition?

The Guardian reports:

BAE Systems, Britain's largest manufacturing employer, and EADS, the owner of Airbus, have announced plans for a $48bn (£29.8bn) merger. The deal creates the world's largest defence, security and aerospace group, while giving France and Germany an interest in the UK's main defence contractor.
The new business would generate annual revenues of £60bn and employ 220,000 people worldwide, including 48,000 in the UK, producing a staggering array of state-of-the-art civil and defence equipment under one roof, from Britain's nuclear submarine fleet to the A380 superjumbo.
...
Under the terms of the British government's golden share – worth a symbolic £1 – BAE must have a British chief executive and a majority of its board members must be British, while non-UK shareholders can own no more than 15% of the business.
EADS is 22.35% owned by a combination of the French state and the French conglomerate Lagardère, while German carmaker Daimler controls a further 22.35% – part of which is being bought by a German state-owned bank. The Spanish state also owns 5.45% of EADS, which was formed by the combination of Daimler's aerospace unit with France's Aerospatiale Matra and Construcciones Aeronáuticas of Spain. The companies are not corporate strangers to each other – BAE owned 20% of EADS's largest business, Airbus, until 2006.

I am not saying that this is a bad idea but if I were a shareholder in either company (which I'm not) I would like to see the economic rationale for such a merger.


12 September 2012

Practising what they preach

How the TUC has changed.  No more beer and sandwiches:
Women make up 30 per cent of union general secretaries and 40 per cent of the TUC General Council. That compares with 18 per cent of David Cameron's Cabinet, 17 per cent of directors of FTSE companies, and less than 16 per cent of Conservative MPs.

Good for the TUC.  

10 September 2012

Not all the perfumes of Arabia ...

Just because he's the richest man in France and he wants to take Belgian nationality, there's no excuse for vulgarity - or, at least, maybe in this instance, there might be ...


(He is Bernard Arnault, boss of LVMH, the company that makes Moet & Chandon, Glen Morangie, Christian Dior perfumes and Louis Vuitton luggage.)


    

The euro soap opera continues

The story so far:

Super Mario has promised to buy up the debts of Mariano and Mario (the other Mario) and Angie has gone along with it, somewhat reluctantly.  But there are conditions; before Super Mario can do anything, Mariano and/or the other Mario need to ask nicely for help.  Mariano and the other Mario are a bit worried about this, because that would bring Christine and Jose into play and they would insist on more austerity.  All very difficult.

Meanwhile Angie has problems with the law.  The Judges will decide on Wednesday if Angie has bitten off more than she can chew.  In which case the whole shooting match might be back to square one.

Francois is watching all this from the sidelines, trying to achieve the impossible by staying friends with Angie, as well as with Mariano and the other Mario.

Confused?  You will be ...

   

09 September 2012

Oh yes - the reshuffle

The Sunday Telegraph explains how it really happened:

Treating himself to glass after glass of Merlot. Calling in minister after minister. Feet on the desk, feeling utterly chillaxed. Waving the bottle expansively at Cheryl, telling her he didn’t see why the Welsh needed a Secretary anyway. Telling Caroline that he was axing her from Environment before the crow’s feet got any deeper. Deciding, on the spur of the moment, that Jeremy’s cheerful little face would be much more suited to Health than grumpy old Andrew’s.
Justine had been a particular low point. She’d sat there, on the verge of tears, pointing out that she hated flying, and didn’t much like foreigners, and that International Development wasn’t the job for someone whose idea of exotic was the Isle of Wight. And hadn’t she only been keeping to the manifesto over Heathrow?
Tough, Dave had replied, warmed by the glow of a particularly fine Burgundy. It was, he’d told her, sky way or the highway. And anyway, he didn’t have time to listen to her snivelling.



08 September 2012

Music of the week

If you've never heard of Paul Robeson or Joe Hill, you should be ashamed.


High finance as you like it

I do hope that you have been following the Glencore/Xstrata affair.  It’s straight out of the movies.  This guy, Ivan Glasenberg (obviously a baddy - think Michael Douglas with a South African accent), the boss of Glencore, wants to take over Xstrata, led by Mick Davis (Matt Damon wearing a white hat - well maybe one that’s turned a bit grayish).  Ivan made an offer Mick could not refuse:  2.8 Glencore shares for every Xstrata share, oodles of dosh for Mick and a position as chief exec of the merged company.  But the Xstrata shareholders were not entirely happy - some of them thought that they being were sold down the river, notably the Arabs (in the form of the Qatar Sovereign Fund), the Vikings (yes the Norse oil fund was also involved) and dear old Standard Life.

It was expected to come to a head yesterday when the Xstrata shareholders were to vote on the merger/takeover.  (In Switzerland, of course).  At the last minute, Tony Blair (yes, he’s also up to his neck in this) managed to get Ivan together with the Qatari prime minister.  As a result, Ivan upped the bid to 3.05 Glencote shares per Xstrata share and apparently dumped poor old Mick by suggesting that he, Ivan, would be in charge of the merged company and that Mick could whistle for his expected dosh.

The amazing thing is that nobody seems to know where this leaves anybody.  Will the merger/takeover go through?  What will Mick do?  Does Ivan really want to get into bed with the Qataris?  And what about the Norwegians?  And will Tony make another intervention?  It’s all a bit of a mystery

This is an over-simplified version of the soap opera so far, but you have to admit that it's great entertainment ...



The plonker's plonk

The newspapers never tell you the interesting stuff.  Take wine-gate. for example:
As scandals go, the claim (wanly denied by Downing Street) that David Cameron took wine while ending Cheryl Gillan’s term as Welsh Secretary may appear trifling. Yet our MPs and political commentators lead admirably sheltered lives when it comes to alcohol, and inevitably wine-gate has outraged some Tory backbenchers and hostile hacks. The Daily Mirror, for instance, accuses Mr Cameron not of drinking the wine (a red, so it insists, though no word on chateau or vintage), but of “swilling” it.
In truth, swilling would be an indelicate mode of imbibing in the context, especially when Ms Gillan wasn’t offered a glass from which to take so much as a ladylike sip. It would have been worse, of course, had he sat there swirling, now and again dipping his nose to catch the bouquet, and punctuating her sobs with reflections on its ribald insouciance.
Was it a Tesco Lambrusco?  Or a Waitrose Fleurie?  We'll never know ...

07 September 2012

Headline of the day

Not the sort of thing one might expect from The Economist (here):
The ECB and OMT: OTT, OMG or WTF?
What does it mean?  Don't ask me - I can't keep up with the twists and turns of the everlasting euro-crisis.

But that's no excuse for vulgarity.

    

   

Building the new British economy

Not that different from the old British economy, it seems.  The Independent reports:
Yesterday, the Government unveiled its new, big plan for rescuing the moribund economy. Lips were wet in anticipation. There were drum rolls.
And here it comes. The Government is to "consult" – so it may not even happen anyway – on a three-year relaxation of planning rules on extending homes and business premises.
At present you can extend your home by three metres without planning permission, but under the exciting new plans (if approved) you shall be able to extend it by six metres.
Satirical-wise, this is hard to extend by even one metre.
Not much use for me, as I live three floors up.  But then I don't suppose that the Tories ever think about people like me.  And anyway it probably won't apply in Scotland.

06 September 2012

Nostalgia - stuff it

This morning, I had to do something I have not done in twenty years:  I had to change an electric plug.  Men of my vintage used to do this regularly.  For reasons which escape me, this was a man's job.  (I imagine that single women lived wholly in the dark.)  But some EU regulation or other in the 1980s insisted that all electrical appliances came with plugs already attached.  I therefore suppose that this is a mystery to you youngsters.

Changing a plug is not difficult, but it is fiddly.  It was a Spanish plug, but the principle is the same: blue to the left, brown to the right and earth up the middle.  Get it wrong and you'll set the house on fire or electrocute yourself.

But there must be an easier way to supply electricity to appliances.


To hell in a handcart

What's the world coming to, when the BBC can let go such luminaries of clear diction as Charlotte and Harriet?  Maybe I'm getting a little deaf, but I can hear every word when Charlotte speaks.

Not so for the Today presenters (Humphreys, I'm talking about you!) who have the alarming habit of letting their voice fall away as they move towards the end of the sentence.  And the newsreaders on Radio 5 are - literally - unspeakable, especially the wee girls who have to do the 5 am morning reports shift.

Sirs a plenty

Remember the fuss about honours for Olympic athletes and how the responsible Whitehall committee could only recommend one knighthood per year for gold medal winners?

Well, surprise, surprise.  Cameron managed to find four knighthoods at once.  The Independent reports:
Knighthoods have been handed to four MPs who lost their jobs, –Nick Harvey (formerly Defence minister), Jim Paice (Defra minister of state), Edward Garnier (Solicitor General) and Gerald Howarth (Defence minister).
What was all that about honours only going to those who had done something above and beyond their normal duties?


05 September 2012

Always look on the bright side

They say that sarcasm is the lowest form of wit.   The Independent plunges to the bottom:
...  here's something that should cheer everyone up. The Prime Minister has just completed his reshuffle. And it's not had any impact on the Treasury. So all the people who have done such a marvellous job with the economy over the past couple of years are still in place. Praise be for small mercies.


The customer is always right

How to win friends and influence people:
Ryanair's chief executive has lambasted a passenger who took to Facebook to complain about being charged for printing out five boarding passes, branding her "an idiot".
After a flight last month from Alicante to Bristol, Suzy McLeod of Newbury took to Facebook to vent her anger at paying €60 each for boarding passes for herself, her parents and her two children. "I had to pay €300 for them to print out a piece of paper," she wrote.
 ...
Mr O'Leary said that 99.98 per cent of Ryanair passengers print their boarding passes in advance: "To those who don't, we say quite politely: 'Bugger off' ". He added that Ms McLeod had written to him requesting compensation and "a gesture of goodwill", and he had responded by saying: "It was your fuck-up".
Utterly charming.


04 September 2012

03 September 2012

Shock! Horror! Calamity!

The price of a pint of Mahou in my favourite bar has increased from €1.50 to €1.80.  (Anguished wailing.)

All due to the VAT increase from 18% to 21%.  Not entirely clear why a 12.5% increase in VAT, accounting for a fifth of the total, should lead to a 20% increase in the price to the consumer.  But mustn't grumble - the price of a pint in the UK is slightly higher.


   

02 September 2012

Back in the old routine

Finally arrived in Spain.  Flat not burned down; fridge still working, so a cold beer was most welcome.  Temperature of 75 degrees at 9 pm, though it feels hotter.

 

01 September 2012

Music of the week



 

Please don't sack me, please!

How humiliating.  Does she have no self-respect?  Here:
Tory Party chairman Baroness Warsi has issued an appeal to David Cameron to keep her in her post when he carries out his forthcoming Cabinet reshuffle.
Lady Warsi has been criticised for her performance in the key party role by some Tories who say the job should be done by an MP sitting in the House of Commons.
But in an interview with The Daily Telegraph, the first female Muslim Cabinet minister urged Mr Cameron let her carry on so that she could help the party attract a new generation of women, working class and ethnic minority voters.


   

Wasting time

Office getting boring?  Need something to while away the endless hours?

http://www.imepilt.com/angry-kremlins/

Mr Fifty Shades

Splendid piece in The Guardian by the husband of the author of that novel.  This is just a taste but it is well worth reading the whole thing:
Whenever Erika encountered a story problem, she'd describe it, and I – being a bloke – would come up with a simple solution that was clear, elegant and always so utterly wrong she'd immediately devise her own. I don't think she once followed a suggestion of mine.

And no, I have yet to read Fifty Shades.  Not really my cup of tea.

Quote of the day

It's a funny old world (and a remunerative one if you are a lawyer):

Forty minutes into the judgment, it was clear Abramovich had won game, set and match. The judge dismissed in "its entirety" Berezovsky's claim that he had been a partner in Sibneft, set up in the mid-1990s when Russia's then president, Boris Yeltsin, practically gifted state assets to a small group of well-connected businessmen: the oligarchs. (In return they helped him dubiously win Russia's 1996 election.) She also rejected a second Berezovsky claim for $564m, his alleged share of a joint interest with Abramovich in the aluminium group Rusal.
Instead, Gloster accepted Abramovich's version of history: that he had been compelled to hire Berezovsky for his political connections. Back in 1994 Berezovsky was Yeltsin's occasional tennis-partner and a powerful figure in the corridors of the Kremlin. Abramovich was a young and ambitious oil trader. Gloster accepted the relationship had been one of "krysha" – the Russian word for roof – with Berezovsky giving Abramovich physical and political protection, indispensable in the murky world of Russian business. (The judge prounounced "krysha" to rhyme with Trisha, rather than the Russian way, "kreesha".)
The judge even ruled that Putin hadn't tried to intimidate Berezovsky into selling his TV channel ORT, during an uncomfortable Kremlin showdown in 2000, shortly before Berezovsky fled. Her finding prompted seasoned Russian watchers to guffaw. Afterwards, a stunned Berezovsky emerged into the corridor. The judge had tried to rewrite Russian history, he said, adding that his faith in British justice had now been badly shaken. Had he expected to win? "Absolutely."


   

31 August 2012

People are nice

It has been a long day.   Too many hours on my feet.  I use a stick nowadays, mostly for reassurance as I am no longer as steady on my pins as I used to be.  But, this evening, the ankles were not at all happy.

The bus was crowded; my heart sank.  Then a nice young man stood up and offered me his seat.  This has happened twice before, but I have previously declined.  (Foolish pride - it's hard to give up the illusion of being an alpha male.)  This time, I accepted gratefully.

And thus, another boundary is crossed.  Getting old is no fun.

   

Shameless ...

... and passing strange.


30 August 2012

They never learn

Carrying on as before.  It's a hard life, being a banker:
Barclays today named retail boss Antony Jenkins as its new chief executive, handing an insider the task of helping to repair the damage caused by a rate-rigging scandal.
...
Barclays said Jenkins would receive an annual salary of £1.1m, plus up to £2.75m in annual incentive awards plus long-term incentive awards of up to 400 per cent of salary.
That should enable him to keep body and soul together (assuming of course that bankers have souls).

24 August 2012

Quote of the day

From The Economist blogs (here):

Folk are choosing to pay off their mortgages for the same reason they are holding off spending. They see darker days ahead and stagnating wages now, and are using the opportunity to pay off their debts. It is a similar story with banks. Having amassed vast debts before the bust, they are reducing their exposure to debt now. Hence the decline in lending. Lending to non-financial companies has fallen nearly 5% on last year; it fell nearly 5% the year before that.
For the British government this is maddening. People are still heaping up savings; banks still don’t want to lend more to businesses. We still hear that giant gurgling noise as demand drains away. All ministers’ plans—to goad banks to lend more, to reinflate the economy, to boost confidence—have all failed and failed utterly. Hence their desperation. What to do? Nationalise RBS? Force lending? Try something more radical?
I am reminded of what a former chancellor, Denis Healey, said about pay policies in that other bleak period in British economic history, the 1970s. Replace his first four words with “nationalise RBS” and you hear the voice of desperate Cabinet ministers.
Adopting a pay policy is rather like jumping out of a second floor window: no one in his senses would do it unless the stairs were on fire.
Be aware that the stairs are still on fire.

   

The sympathetic fallacy

Does God smile on the Republicans?  Obviously not:
Organisers of the Republican Party convention are nervously watching Tropical Storm Isaac, which will move northeast through the Caribbean today on a track that could take it to the host city of Tampa right on cue for Monday's kick-off of the proceedings. Forecasters said Isaac had all the signs of strengthening into a hurricane as early as today. The convention site is a hockey arena in Tampa and officials say they will consider postponement or even relocation if they have to. A full evacuation of the area would create chaos and leave best-laid plans to burnish Mitt Romney and running mate Paul Ryan in tatters.
Consider it a punishment for bringing religion into politics.

It's the same the whole world over ...

You may think that it is passing strange that this country is run for the benefit of the rich:
The Bank of England's money-printing programme, intended to revive economic growth, has delivered a massive boost to the wealth of the most prosperous 10 per cent of households in Britain while delivering relatively scant returns for the poorest, a new analysis from the Bank indicated yesterday.
But, for me, I accept that it's the natural order of things.  After all, some people continue to vote for the Tories.  Inexplicable ...

What planet are they on?

I don't know why The Guardian is making such a fuss.  It seems perfectly clear (well more or less) to me:

For all the bold claims made at the outset, the bonfire of the quangos struggles to do anything but smoulder. Still, the war on red tape continues apace. And what's not to love about the new, streamlined arrangements for the health service. Away from the public gaze, Voldemort Lansley has been doing what he does best: dashing hopes and drowning kittens. NHS head honcho Sir David Nicholson, addressing the troops, unveils the new framework. Watch out for a slew of new bodies including an NHS Commissioning Board, aka NHS CB, the NHS Trust Development Authority, aka NHS TDA, Health Education England or HEE, the Local Education and Training Boards – close friends call them LETBs – and then there is Public Health England (PHE). To think that once there were just strategic health authorities and primary care trusts. This is leaner, clearer and in all ways better, isn't it?
Certainly it has the benefit of clarity. Under the new arrangements, Sir David says: "The NHS Transition Executive forum has agreed that NHS CB and NHS TDA regional directors should take on management responsibility for the teams managing both 2012/13 operational delivery and planning for 2013/14. Meanwhile NHS CB people appointed to future regional and local leadership roles in NHS CB should take on management responsibilities for the teams managing both 2012/13 operational delivery and planning for 2013/14." There are exciting plans for NHS TDA people too "in respect of the FT Pipeline and provision system", but none of this will impact upon the Clinical Commissioning Groups as they prepare "for their new roles" in Voldemort's great scheme of things. Thank God: an end to all that bureaucracy.



Those photographs

The establishment is tying itself in knots.  The Guardian reports:

Newspaper editors are understood to have been asked informally by royal aides not to run the pictures at lunchtime on Wednesday. Later in the day a strongly worded letter from Harbottle & Lewis was circulated via the Press Complaints Commission, along with a covering note from the regulator saying it was happy to pass on St James's Palace's view that publication would be in breach of clause three of the PCC's editors' code of practice. The clause says "it is unacceptable to photograph individuals in private places without their consent".
The letter from Harbottle & Lewis warns editors that publication outside the UK is no justification for publication in Britain.
"The only possible reason for publication of the photographs is one of prurience and nothing more," said the letter from the law firm.
"No matter of public interest as those words are understood in English law is raised by these photographs. The fact that they have appeared in another jurisdiction is meaningless."

Aye well.  Suppose, just for the moment, that it had been David Cameron playing strip billiards and displaying his crown jewels in Vegas.  Would it have been in the public interest for us to know about it?  Too damn right, it would; we are entitled to know about the personal morality of those who seek to influence our lives and who take decisions on our behalf.  Is Harry different?  Third in line to the throne, a political personality - he may not have chosen to be in the front line, but there he is, enjoying all the advantages.


 

22 August 2012

The do nothing chancellor

After the latest reverse in the government finances, there are growing signs that - if Osborne recognises his economic plans (such as they are) are failing - he really has very little idea of how to rectify matters.  The Guardian reports on the headless chickens:
The government is to unveil a series of measures to promote jobs and growth as ministers move to show they have a credible economic strategy after a slump in corporate tax receipts led to higher than expected borrowing last month.
Amid growing fears among senior figures in both coalition parties that George Osborne is running out of time to meet his pledge to stabilise the public finances, Whitehall sources spoke of a co-ordinated growth push across the government in September. There will be a particular focus on liberalising planning laws, guaranteeing more housebuilding and boosting infrastructure projects.
In a sign of the government's radical thinking, ministers are drawing up plans to reform the Highways Agency so it can borrow money to pay for a "horizon shift" in spending on roads to boost the economy and reduce congestion and delays.
All very well but it needed to have been done eighteen months ago.  As it is, liberalising planning laws will by definition require new legislation, as will borrowing powers for the Highways Agency, so any effect on the ground will have to wait until 2014 at the earliest.  Infrastructure projects also require time for preparation.  As for housebuilding, private housebuilders are in no rush to commit themselves in the present financial climate, while the public sector knows the financial folly of building new houses only to have to sell them to tenants at a massive discount. 

   



21 August 2012

Gongs

This has the potential for a row.  The Telegraph reports:
The Whitehall committee responsible for awarding honours to sports people is allowed to make only one medal winner a knight or dame this year. But as many as four mandarins could be knighted.
More than 20 officials will also become CBEs – the next most highly ranked honour – compared with four sports stars, according to the rules.
There is growing controversy over the quota system, which appears to favour civil servants over the country’s Olympic athletes.
Just imagine: umpteen anonymous mandarins are laden with superior gongs (not forgetting half a dozen knighthoods for backbench Tory MPs), while Jessica, Bradley and Mo are fobbed off with MBEs.

With a bit of luck, it might bring down the whole corrupt system ...

19 August 2012

Such vulgarity

It is utterly pointless of politicians to complain about the BBC's alleged political bias.  The Independent reports:

Work and Pensions Secretary Iain Duncan Smith's department has made a formal complaint to the BBC claiming its coverage of the Government is biased, it has emerged.
The former Tory leader launched a scathing attack on the corporation and singled out the broadcaster's economics editor Stephanie Flanders for the harshest criticism, accusing her of "peeing all over British industry".

Does Mr Smith really believe that attacking the wonderful Ms Flanders in such derogatory terms will endear him to the great British public?

Poor show.


 

Lookalikes

Jabba the Hut:


Eric Pickles, Communities Secretary:




    

18 August 2012

Remedial maths

It seems, to adapt a phrase, that the Education Department has been "highly selective" about releasing statistics:

Education officials admitted the tally of school playing field sell-offs has increased again - just hours after being forced into an embarrassing apology for issuing misleading figures.
Last night the Government said it had approved a total of 31 school pitches, 10 more than the Department for Education previously admitted to signing off and one more than the figures that sparked yesterday's statement of apology.

What's the matter?  Can't they count?

Do they mean us?

Now we know what up-and-coming Tory MPs think of us.  The Independent reports:

The British are among the world's idlest workers, according to five up-and-coming Tory MPs.  The MPs – Kwasi Kwarteng, Priti Patel, Dominic Raab, Chris Skidmore and Elizabeth Truss, all from the 2010 intake of new MPs – want British people to work harder and relax less.
"The state has made Britons idle," they argue. "Our culture of instant gratification ignores the years of persistence that lie behind real success. Too many people in Britain prefer a lie-in to hard work."
You  might have thought about people in greenhouses.  With their extensive holidays, their subsidised lifestyle and their isolation in the Westminster bubble, I would have expected MPs to be a little more careful about gratuitous generalisations.  And you will note the absence of any hard statistical evidence.

17 August 2012

Music of the week

The read across

I don't usually feel any sympathy for diplomats but, this morning, UK officials based in South America, the Middle East and certain parts of Asia must be feeling nervous.  Regardless of the rights and wrongs of the stand-off between the UK and Ecuador governments over access to the latter's London embassy, the actions of the UK Government will be perceived in certain quarters as flouting the Vienna Conventions.  How can we expect others to respect the inviolacy of foreign embassies and diplomats when we appear to making threats ourselves?

So the next time that some humanitarian dissident seeks asylum in a British embassy in Iran, the Yemen, Argentina or Venezuela, what do you suppose will happen?


 

16 August 2012

No bounty hunters wanted?

Poor old HMRC.  They have not quite got it right:

Her Majesty's Revenue and Customs has taken a leaf out of the FBI's book, publishing the details of Britain's "most wanted" tax fugitives.
Tax inspectors hope that by naming and shaming the 20 men and women believed to be guilty of the biggest smuggling or tax fraud scams they can track them down. Together the 20 have allegedly cost the taxpayer £765m and may face lengthy jail sentences if they ever see the inside of a court. 

The problem?  Where's the details of the reward?


 

Red for a reason

It's the Royal Mail's own fault:
A wave of vigilante postbox painting is sweeping the nation, it seems. After Royal Mail promised to paint a postbox gold in the home town of all Great Britain's Olympic gold-medal winners, overlooked locals have taken matters into their own hands.
A postbox in Doddington, near Lincoln, the home of Team GB's bronze-medal-winning hockey player Georgie Twigg, was painted bronze, only for Royal Mail to paint it red again. A bronze box has appeared in Lowestoft, the home of bronze-winning boxer Anthony Ogogo.
It would never have occurred to anyone to paint a postbox if Royal Mail had not started it.  There will inevitably follow a row about Royal Mail's failure to paint the postboxes of gold medallists at the Paralympics.


     

On the side of the angels

Another reason to put your trust in President Obama.  The Washington Post reports:
Across Iowa over the past three days, Obama talked about wind power and drought relief and middle-class taxes. But what he really seemed excited about was beer. He bought a round of beers at the fair. He told coffee shop patrons about one of the latest features at the White House: a home brewery. He spoke longingly of the beer he planned to quaff on the bus at the end of the day.
By way of contrast, Mitt Romney is teetotal.

Enough said.



15 August 2012

Hey, he means well

So Bill Gates wants to re-invent the loo.  Well good for him.

If Microsoft is a guide, there may of course be disadvantages:
1. It will be vastly over-complicated.
2.  It will come with inadequate documentation.
3.  It will be unable to resist viruses.
4.  It will be plagued with bugs.
5.  It will need a major upgrade every second year.
6.  When it stops working, you will need to switch it off, cross your fingers (or your legs) and then turn it on again.

A bloated capitalist writes ...

Remember those shares I bought last Thursday at 222 pence each?  This afternoon I sold them at 237.5 pence each.  After allowing for fees and stamp duty, the net return on my outlay amounted to 4.675%.  No big deal, but a better return than I would get from leaving the cash in a bank account.

Of course, I could have delayed the sale in the hope that the value of the shares would increase further.  After all they were over 300 pence earlier this year - which I knew before I bought them.  (You don't think that I buy shares entirely on a whim?)  But let us not be greedy.

OK, so I did all right this time.  But it doesn’t happen like that every time.  And even when I win, I somehow feel that it’s slightly immoral.  On the other hand, some people have a flutter on the gee-gees, others go to bingo; I get my minor kicks from playing the market.

But be warned, it’s a rigged market.  All those pension fund managers, investment banks and hedge funds are playing with millions and are much more able to move the market than me with my relatively paltry investments (even when their chums in the City are not tipping them off on “sure things”).  Then you have the short-sellers, who “borrow” shares (at a cost naturally) and sell them in the hope (or the certain knowledge) that the price of those shares will fall, so that they can buy them back at a reduced price (and then return them to the original owners), reaping more than satisfactory profits by the process.  Nevertheless, you don’t always lose out to the bigger players.

These are my basic rules to gambling.  (1) Never bet more than you can afford; you need to be able to walk away with a smile even if you have lost it all.  (2) Don’t get greedy; people like you and me will never make a fortune - be content with a win, however small.


Saddo

Cameron on holiday:

Black office shoes?  check.
New jeans?  check.
Shirtsleeves unrolled all the way down? check.

Uncomfortable - you should be.

14 August 2012

Cartoons

Steve Bell in The Guardian is in good form this morning - here and here.

Brilliant!

Olympic gold is the result of communal effort?

I have already expressed my abhorrence of those who wish to hang their political and economic prejudices on an Olympics hook. And now big Gordon is doing the same thing:
Former prime minister Gordon Brown has invoked Britain's Olympic medal success – based, he said, on "pooling and sharing" of national resources and expertise – as an argument against Scottish independence.
Speaking out at the Edinburgh international book festival, Brown said that the Union had made possible a raft of shared British institutions, including the National Health Service, the BBC and the armed forces – and had created a Britain that was much more fair and equal than it would otherwise be.
"One thing I take from the Olympics, a point that Sir Chris Hoy has already made for me – when we pool and share resources for the common good the benefit is far greater than would have occurred if we'd just added up the sum of the parts. So the National Health Service is common insurance policy … the BBC, shared across the United Kingdom. The armed forces, so you don't have a Scottish, a Welsh and an English army.
Aye well.  He's right of course.  But the argument must stand or fall on its own merits, rather than by spurious analogy with Olympic medal-winning.


13 August 2012

It will soon be just a memory ...

To hell in a handcart

Now that the Olympics are over, it's back to auld claes and porridge.  The two week interregnum seems to have done little for the world economy.  The Guardian sums up the position:
So, this is a world in which the Bank of England has bought a third of UK gilts, a world in which the Federal Reserve has pumped trillions of dollars into the US economy for fear the money supply will collapse, a world in which the ECB props up European banks so they can buy government bonds nobody else will touch, and a world in which China can keep its growth model functioning only through manipulation of the exchange rate and unproductive investment. Apparently, this is the "new normal". There doesn't, to be frank, seem much normal about it.

   

11 August 2012

Video of the week

An arresting if rather violent study of anomie (or revenge):


Quote of the day

Life ain't fair, according to The Guardian (here):
That not everyone is born into equal circumstances is something even the most idealistic of us has probably come to terms with as an immutable aspect of the human condition. That those inequalities of opportunity are then not just accepted but further encouraged and entrenched by government after government and policy after policy stinks. And the reek will be worse this year than ever, as free schools and assorted other ideas farted from the ever-noxious bumhole that is Michael Gove pollute the atmosphere and fog the once-shining vision of an egalitarian, comprehensive education system so thoroughly that it is hard to perceive even its outline any more.

09 August 2012

Confessions of an unjustified sinner

OK, I admit it.  Buoyed up by the success of the GB Olympic cycle team and expecting a rush on the purchase of bicycles throughout the UK, and notwithstanding my calvinistic background and despite the birling sound as my departed mother spins around in her grave, I have bought some shares in Halfords.  They cost me about 222 pence each this morning.  By this evening, they had reached the dizzy heights of 224.6 pence per share.  But they'll need to be knocking on 240 pence in order for me to cover the commission and stamp duty as well as my expected 5% turn.  We'll see.

I'll let you know how I get on.

For the record, the price of shares can go down as well as up.  And given my track record, do not follow my example ...

Signs of desperation

It is always rather pathetic when political and financial supremos seek to hang their hats on a sporting peg.  For example, here is the Governor of the Bank of England:
"Unlike the Olympians who have thrilled us over the past fortnight, our economy has not yet reached full fitness. But it is slowly healing. Many of the conditions necessary for a recovery are in place, and the monetary policy committee [MPC] will continue to do all it can to bring about that recovery.
"As I have said many times, the recovery and rebalancing of our economy will be a long, slow process. It is to our Olympic team that we should look for inspiration. They have shown us the importance of total commitment when trying to achieve a goal that may lie some years ahead."
Vacuous nonsense.  To imply that lifting the economy out of its present stagnation is somehow dependent upon adopting the commitment of an Olympic athlete is meaningless.  Sir Mervyn may have little idea how to stimulate economic growth but I can assure him that personal physical effort is unlikely to play a significant role.  (Although it might be helpful if he and Slasher Osborne pulled their fingers out.)

08 August 2012

Music of the week

From Juliet Turner:


The innumerate chancellor


Huff Post states:
George Osborne has said he will focus "110%" on pulling the UK economy out of recession in the wake of a warning from the Bank of England that there would be zero growth in 2012.
Speaking on Wednesday afternoon the chancellor admitted that the forecast was "disappointing" but said the government now had the opportunity to "give its 110% attention and effort and energy" to create growth.
I suppose 100% is not really good enough.  Leaving aside his difficulties with basic arithmetic, does anyone really think that Slasher has even the remotest scooby-doo on how to create growth?

    

07 August 2012

Lookalikes

Danny Alexander, Treasury Chief Secretary:




Beaker of the Muppets:


Quote of the day

More naughty bankers, this time at Standard Chartered.  According to The Guardian (here):
According to the report filed by the New York state department of financial services (NYSDFS), when warned by a US colleague about dealings with Iran, a Standard Chartered executive caustically replied: "You f---ing Americans. Who are you to tell us, the rest of the world, that we're not going to deal with Iranians."
Not the sort of thing you expect a banker to say ...


   

04 August 2012

I got it wrong

Well, well. well.  For an old curmudgeon who dismissed the Games as circenses for the masses, I have to admit I'm thoroughly enjoying them now the moment has arrived.

My favourites have been the rowing and the cycling.  And not just because of the success of the Brits.

Alas the BBC has let us down in the commentarial standards.  It is intolerable to have to put up with the simpering of Sue Barker, the illiterate screaming of Jonathan Pearce, the snarkiness of Gary Lineker, the know-it-all attitude of Brendan Foster.  Thank heavens for Clare Balding (the damehood can't come quickly enough), the sheer niceness of Jill Douglas and the common sense of Boardman.

But what really impresses is the charm of the athletes in the lesser sports.  Ms Grainger of the rowing, Sir Chris Hoy of the cycling and the two girls who set the ball rolling with the first gold medal, Ms Glover and Ms Stanning.   People you could actually like as well as admire.  (How dissimilar to professional footballers.)

An illustration of what I mean, here is this well-deserved encomium from The Independent (here):
What a gentleman Bradley Wiggins is, really. Not everyone noticed his exemplary behaviour on winning the Olympic time trial. He was informed that he had the best time, but made no response, even though by then, the subsequent riders could not match his time, indeed had already exceeded it. He only raised his hands in celebration when the last rider had crossed the line.
This beautiful behaviour was interpreted by the BBC commentator, however, as Mr Wiggins not knowing that he had won, or not being able to believe it, or something. Nothing of the sort. As with the moment in the Tour de France when he slowed down, refusing to take advantage when his rivals suffered punctures from scattered tin-tacks, Mr Wiggins was just behaving with great respect and decency.
No one these days wants to be considered a gentleman. It hasn't seemed like much of an advantage for decades. But to behave consistently well, like Mr Wiggins, and to do the right thing without being ordered to is the best lesson the Olympics can give us. We're not going to ride as fast as him, but we can all endeavour to raise our manners to the status of ethical principles.

   

03 August 2012

The kiss of death

It reminds me of all those failing football managers.  City AM reports:
GEORGE Osborne will remain as chancellor until the next general election in 2015, David Cameron insisted last night.
In a bid to quash speculation that Osborne would be moved in his September reshuffle, the Prime Minister insisted that the chancellor had his “full support”.
Things must be getting desperate when the Prime Minister is forced to express confidence in his Chancellor.  And it's not as if Cameron were renowned for his constancy ...

  

02 August 2012

Hubris

Super Mario's not so super after today's announcement:

FTSE 100


euro in terms of $





The Games (part 23)

A cri de coeur, allegedly from the Prime Minister:
My PR team has been sending me out to all these events where they assure me we're going to get a medal, so that I can muscle in on the success, and then we keep on failing. Apparently Team GB are calling me Typhoid Dave and have begged me to stay away from the rowing and the cycling.




   

31 July 2012

Pussy Riot

It's not really my kind of music.  But if Vladimir Putin wants to throw them in jail for seven years on trumped-up charges, then I'm inclined to lend a favourable ear.  Go girls!


Clash of cultures

The scribblers meet the bank.  Here is The Independent's report of yesterday's HSBC presser:
The participants on the call were a bunch of hacks straining to hide their incredulity at what was being said and a bunch of HSBC executives who genuinely seemed to imagine that they were giving frank replies to rather mean questions.
Why are we going on about that cocaine money-laundering thing when their continued capital strength is such a source of reassurance?
That Libor scandal is not to be discussed. We've said all we can. Now about the 12 per cent rise in commercial banking revenues... They did touch on the various scandals, but it seemed to think these things had happened at some other company, with them mere innocent bystanders.
"The banking industry is operating in a hostile climate," said the chairman Douglas Flint, as if HSBC had nothing to do with creating public and political anger at the sector. The bank's leadership – Flint and chief executive Stuart Gulliver – insist that HSBC's issues are a matter of structure rather than culture.
Would his own bonus be affected by the money-laundering fiasco, Gulliver was asked. He pushed back: "That's a matter for the remuneration committee," which sounds very like "no, why should it?"
"We get it," insisted Gulliver, sounding for all the world like a man who does not.
When will they ever learn?

29 July 2012

What's on when?

Confused about the Olympics schedule?  I know I was.

This site is of some modest assistance - just click on the blue buttons.  Then all you have to do is find out which programme on the red button is showing it.

28 July 2012

Quote of the day

From The Independent (here):
The commercialisation of the Olympic Games and the heavy-handed policing of the Olympic "brand" by the organisers and their lawyers may in later years become a case study in how not to do it. It is hard to believe the McDonald's image is improved by insisting that it be the only provider of chips in the park. It is even less likely Visa will benefit from its insistence only its cards can be used.
The idea of sponsorship is surely that the image of the brand is enhanced because it is associated with something as uplifting as sport at its best, not that it seeks to drag sporting events down to the grasping commercial reality of everyday life.
Only too true.

   

27 July 2012

Quote of the day

From Mitt the twit (here):  
In his book,No Apology, he writes:
"England [sic] is just a small island. Its roads and houses are small. With few exceptions, it doesn't make things that people in the rest of the world want to buy. And if it hadn't been separated from the continent by water, it almost certainly would have been lost to Hitler's ambitions."


   

It's fate

Inanimate objects.  The Tories are condemned to ridicule:  they can't even ring a bell without it going wrong.

                   
                   
                   
             


                   

No but yes but maybe

It is a peculiar strategy but it seems to be working.  Every time Vince denies wanting the job of Chancellor, he moves a little closer to achieving it.  The Independent reports:

Vince Cable has denied he is angling for the job of Chancellor as George Osborne's credentials were questioned by two Conservative politicians.
A day after he angered Mr Osborne by saying he would "probably" be a good Chancellor, the Liberal Democrat Business Secretary was on his best behaviour yesterday.
"I am not pushing for the job. We are part of a team," Mr Cable said. "We have a collective agreed policy and I am delivering on my bit of it, which centres on the area of industrial strategy. I am not proposing a radically different approach." If he were to be made Chancellor, Mr Cable stressed, "I would be building on what George Osborne has already achieved". He dismissed Labour's criticism that Mr Osborne was a "part-time chancellor" because of his role as a strategist.
Who knows?  Given the doldrums of Slasher Osborne, perhaps Cinders will actually go to the ball.

26 July 2012

Music of the week

I am not usually keen on cover versions but this is a tremendous elaboration on what was a good song to begin with.  I commend to you the keyboards solo in the middle, backed up by the pounding bass and eventually the lead guitar.  (Whit a poseur! - ed).


A learning experience?

What lesson will the airport authorities learn from this security lapse?
The 11-year-old boy sparked a security alert after managing to fly from Manchester to Rome on his own without a passport, ticket or boarding pass.The schoolboy passed through security without being checked, before boarding the Jet2.com flight yesterday
.Liam had travelled less than three miles from a nearby shopping centre, before evading five security checks to successfully board flight LS791 to the Italian capital.
The captain was only alerted to the extra passenger when holidaymakers raised concerns during the flight.
It would be a foolish dream to suggest that they should limit themselves to one security check and do it properly.  No, I suspect that it will involve additional tedious and futile checks, to the discomfort and inconvenience of travellers.

  

God shuffled his feet

It was Tom Nairn who said "Scotland will be free when the last minister is strangled by the last copy of the Sunday Post."


The Independent reports:
“The Scottish government is embarking on a dangerous social experiment on a massive scale,” said a spokesman for the Catholic Church in Scotland. “We strongly suspect that time will show the Church to have been completely correct in explaining that same-sex sexual relationships are detrimental to any love expressed within profound friendships."
The Church of Scotland was more measured in its response but accused legislators of needlessly rushing ahead with legislation that many of its members found difficult."We are acutely aware that opinions differ among our own members and that many people are anxious and hurt in the current situation,” said Rev Alan Hamilton. "We believe homophobia to be sinful and we reaffirm our strong pastoral commitment to all people in Scotland, regardless of sexual orientation or beliefs."
Sad to see the churches lining up once again with the forces of reaction, especially when the proposed legislation will force no-one and no church to do what it doesn't want to do.

25 July 2012

The incredible shrinking economy


Time for plan B?

Something wrong here

Well, well. well, there's a surprise - the bankster bosses want to charge us for current accounts.  The Independent reports:
In a wide-ranging speech, Financial Services Authority chairman Lord Turner called on bank bosses to act as "custodians of institutions of great public interest, as well as custodians of shareholder value".
He warned the end of free current accounts might be needed to drive more competition into the sector and move away from a model where banks sought profit instead from higher-margin products, leading to the mis-selling of payment protection insurance.
So the banks mis-sell products (it used to be known as swindling) to their customers and, in order to stop them, customers are expected to pay more in regular fees?  When I lend money to a bank, I expect them to pay me for that privilege, just as they expect me to pay when they lend me money.  And heaven knows the banks are far from slow to impose extra charges on the slightest excuse.

And I thought that the FSA was supposed to be on the side of the customer ...