Martin Waller: City Diary
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Internet idiot of the month, taking his place alongside that greedy lawyer, various sexually voracious young women and a half-wit socialite of Chinese extraction, is a young male intern from Anglo Irish Bank.
He posted on Facebook a picture of himself dressed as a fairy and wearing make-up at a Hallowe’en party. Very fetching, I’m sure. Alas No 1, someone sent his boss a link to the picture the next day. Alas No 2, said intern had sent an e-mail to said boss the day before requesting time off because “something came up at home and I had to go to New York this morning for the next couple of days”.
Alas No 3, it’s all over the internet, complete with picture. I ring Anglo Irish. “It is, I believe, an employee from Anglo Irish in Boston,” confirms a spokesman. A former employee, did you mean to say? “We can’t comment on the issues related to individual employees.”
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And now another bill for Erinaceous
As if it couldn’t get any worse for Erinaceous, the beleaguered property group where much of the board used to be interrelated, the company is now facing paying anything up to half a million pounds to a former employee. Erinaceous lost a High Court case yesterday brought by David Kahn after it refused to pay him a bonus for bringing in hundreds of thousands of pounds of business. Mr Justice Foskett said: “Since provision had not been made in the accounts for such a large bonus, one can understand why the defendant found the position a difficult one.” Even disregarding all the company’s other woes . . .
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Not a spade may have been buried in the ground, but Crossrail is already in contact with various parties who will be affected by the project. Letters are going out in English and in an array of 11 other tongues, presumably reflecting the various communities that the route will cross. Very politically correct, but my informant received his own letter at an address in “Isleworth, Essex”. It is in the London Borough of Hounslow; and given this geographical confusion, who knows where the tunnel will finally emerge?
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British Land shares have virtually halved since the start of the year - and since, I am reminded, Sir John Ritblat decided to sell most of his holding in the company he created. In the course of his long career in property, there must have been those who made money betting the other way from Ritblat. But I don’t imagine the list is a long one. British Airways has poached the chief HR man, sorry, “group director people and organisational development”, at Royal Mail for its own “director of people” – chief HR man, that is. Now, various executives have quit the Mail recently and being in human resources during the worst strike in two decades there can’t have been a lot of fun. But how desperate does Tony McCarthy have to be to join BA, a firm with its own interesting history of HR problems?
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Mark Brumby at Blue Oar, well known for his morning mail-outs, tells me his colleagues were to play a five-a-side football match against rival broker Oriel Securities, but when the powers-that-be there heard of this they decided against the fixture. Many of his colleagues were poached from Oriel. “I think the fears of on-pitch violence were much overdone. What might have gone on in the crowd is quite another matter.”
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Odd accounts gain currency
I am forwarded the latest accounts from Wilshaw, once a tiddly engineer and now a cash shell no longer quoted on any market and with less than £1 million in the bank. The company ran up expenses of £380,000, so the future could not be said to be bright. Included in this figure is an unspecified sum on “preparation that it needed to make for the introduction of the euro”. Wilshaw’s moribund status makes it impossible for me to find out why a company that barely exists should spend money preparing for a currency we are not going to introduce. Undeniably odd.
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