Friday, January 21, 2011

Social but no class

There's nothing new about ex-politicians, or even current politicians, taking directorships, in fact somebody once explained to me, many moons ago, how having a 'name' on a company's headed notepaper did in some cases attract business. I'm always uneasy when Members of Parliament manage to inveigle their way onto boards of companies who are involved in either the health or arms trades, being the two biggest recipients, either directly or indirectly of taxpayers money.

Lord Mandelson, former Secretary of state for business appears to lack conscience, class or respect for those British workers who lost their jobs on his watch when Kraft took over Cadbury last year. The Government were not in a position to refuse the bid but the fact that Kraft raised the required finance from RBS, that's the bank that we the taxpayers own, was not popular at the time. As Vince Cable put it, "It doesn't seem right that UK taxpayers money is being used to put British workers out of a job."

While in government, Mandelson warned Kraft not to seek a "fast buck" when buying Cadbury, and said overseas headquarters could prove a long-term "disadvantage" to UK manufacturing. He also supported a review of the country's takeover laws to protect against the loss of other cherished national brands, which has led to proposals that could make hostile deals more difficult in Britain. We already have some of the most lax takeover laws in Europe, offering none of the protectionism that is afforded workers in Germany, France and Holland for example and the moves, prompted by Mandelson's office of state, were seen as good and progressive at the time.

It's been the worst kept secret of the business world for the past week or so but fortunately for Mandelson the news was released by Lazard (the bank that helped finance the Kraft deal) on the day that the Conservative party were up to their necks in the Coulson affair and so has slipped down the back of the news sofa.


Span Ows said...

Once a sliemball always a sliemball...ironically the "good day to bury bad news" accusations have been coming thick and fast from both sides re Coulson. Blair news buries Coulson or Coulson news buries Blair (and Mandy...) I guess that depends whether your the BBC or the Guardian (Coulson trumps anything) or one of the others.

oakleyses said...

michael kors outlet, coach factory outlet, ray ban sunglasses, prada outlet, kate spade outlet, oakley sunglasses, gucci outlet, tiffany and co, michael kors outlet, true religion jeans, coach outlet, longchamp outlet, burberry, polo ralph lauren outlet, christian louboutin outlet, coach purses, louboutin outlet, nike air max, jordan shoes, nike free, michael kors outlet, longchamp, louboutin shoes, polo ralph lauren outlet, prada handbags, ray ban sunglasses, michael kors outlet, tiffany jewelry, tory burch outlet, oakley sunglasses, burberry outlet online, nike air max, oakley sunglasses, replica watches, michael kors, nike outlet, longchamp outlet, coach outlet, michael kors outlet, louboutin, kate spade handbags, chanel handbags

oakleyses said...

nike air max, lacoste pas cher, ray ban pas cher, mulberry, air force, abercrombie and fitch, vanessa bruno, oakley pas cher, true religion outlet, converse pas cher, timberland, michael kors, new balance pas cher, michael kors, air max, nike free run uk, ralph lauren pas cher, nike blazer, ray ban uk, air jordan pas cher, vans pas cher, tn pas cher, burberry, hogan, hollister pas cher, nike free, nike air max, nike air max, sac longchamp, true religion jeans, nike roshe run, louboutin pas cher, ralph lauren uk, michael kors, hollister, true religion jeans, north face, lululemon, longchamp pas cher, hermes, north face, sac guess

oakleyses said...

celine handbags, soccer jerseys, bottega veneta, longchamp, asics running shoes, hollister, jimmy choo shoes, beats by dre, mont blanc, oakley, herve leger, chi flat iron, ferragamo shoes, nike huarache, nike trainers, vans shoes, wedding dresses, p90x workout, instyler, insanity workout, north face outlet, nike roshe, nike roshe, soccer shoes, baseball bats, reebok shoes, timberland boots, babyliss, mcm handbags, mac cosmetics, valentino shoes, iphone 6 cases, abercrombie and fitch, birkin bag, north face outlet, nfl jerseys, giuseppe zanotti, ghd, nike air max, new balance, lululemon, hollister