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Archive for July 25th, 2008

The companies beating the credit crunch…

July 25th, 2008

I want my McMummy In these times it’s important to watch out for companies turning a decent profit as they will be the ones keeping up their recruitment drive. McDonalds says overseas sales have boosted their bank balance beyond expectation (as well as selling their share of Pret a Manger); Swiss bank Credit Suisse has offered the industry a ray of hope by returning to profit - the £580m profit is no where near as big as this time last year, but is beyond what people expected to see (better still, their finance boss is called Renato Fassbind. I saw two of his films on a stag do once); and Rolls Royce are confident that they will ride out the problems in the aviation industry with profits 8% better than expected. Let the good times McSwissRoll.

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Co-op travel say “no” to Heathrow 3rd runway

July 25th, 2008

When Brown meets Greenacre Here’s a good way to remind everyone you’re still there: The Co-operative Travel has 400 high street stores and sells over £1bn worth of holidays each year. No, I’ve never heard of them either, but they are a sizeable force in the tourism industry. Worrying for Downing Street then that they have added their name to the list of protesters who firmly oppose plans for a third runway at Heathrow. Boss Mike Greenacre (apt name) pointed out that the “proposals conflict with the UK’s targets to reduce its carbon dioxide emissions by 60% by 2050.” Co-op sees growth in better use of existing regional airports, feeling that a third runway would gridlock West London. Mike has got huge claps on the back from the Green lobby for putting his neck on the block and saying what many are thinking. Without business support, the Government has no case to push for the expansion of Heathrow. A decision is expected this year…

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More names on restaurant pay wall of shame

July 25th, 2008

The Old man and the Si Loch Fyne joins the list of restaurants the papers are leaping over at the moment for paying staff under the minimum wage and then hoping it will be topped up to a legal level with tips. Others include Carluccios, Strada, Hard Rock and D&D London restaurants. It’s a bit strange that Loch Fyne should find themselves in this company. We’ve always been rather fond of the over-priced fish monger (who famously told Tesco to “f*ck off”) as they who champion marine conservation and adhere to a corporate mantra of “respect for animals, people and ecology.” And profits. Nowadays Loch Fyne is owned by Greene King brewers and so it can fall back on the excuse that it’s just following company policy across the group. Sheep as well as fish it seems.

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Scots boss sleeps with his staff (sort of)

July 25th, 2008

Keith Chapman: ready to negotiate The bite of the credit crunch isn’t just felt by the big banks. All 179 workers at Scotland’s oldest paper mill (Curtis Fine) were told in their lunch break that they were losing their jobs as the company had collapsed. Staff paid by the week were up to date on pay, however those on the monthly package were told they would not be paid for the last four weeks work. This led Managing Director Keith Chapman to grab his sleeping bag and lead a sit-in that would last until the matter is resolved. His aim is to put pressure on KPMG, bought in to dissolve the business, to prioritise staff pay over others chasing payment. Turns out the real reason the company is on its uppers is a land deal fell through that would have put £1.3m in the bank – the company had actually been performing rather well under Boss Chapman. The brilliantly named Blair Nimmo of KPMG said:  “We are not choosing not to pay people – it is a case of not having the money.” Come on Blair – get in Keith’s sleeping bag and let’s sort this out like real men. Real gay men.

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