Lloyds’ Blank failed to look under bonnet

I HAVE been a shareholder in Lloyds for some years.

I do not regard Sir Victor Blank, the departing chairman, as the sacrificial lamb. He is the shepherd who opened the gate and let in a flock of toxic sheep that have infected his (my) flock.

He was guilty of failing to exercise due diligence or, to use another saying, he failed to “look under the bonnet”.

Roger Newnes-Smith
Milford, Surrey

Innovators need the oxygen of publicity

IN last week’s report “Arising out of the ashes”, on the future of capitalism, a number of points were made, including the observation that capitalism is about people making and selling things, and the way forward is usually about making things in a smarter way.

Many of the examples quoted were of known individuals . . . but what about the unknown legions who are pouring stacks of their own money into new and innovative ideas? Ideas that they have shown to have worked and are now trying to push to a higher level.

In my experience, the next hurdle (regardless of persistence, persistence, persistence) is the media not noticing them. Now could be a good time for reporters to get out more and look and see what is actually being made by the “quiet” innovators in leafy lanes a long way from Silicon Valley.

Sally McIlroy, founder of House Tutor
Guildford, Surrey

Europe can show America way forward

YOUR columnist Irwin Stelzer is an eminent economist but I find it rather surprising that he prefers “big, comfortable and safe” cars that are in essence gas-guzzlers rather than the eco-friendly smaller cars built on European models (“US faces a future of big tax rises and smaller cars”, last week).

I also find it disconcerting that he does not like President Barack Obama’s proposed healthcare reforms, which would provide good quality health services to many poor Americans who are living at the fringes of society.

Sam Banik
Muswell Hill, London

Technical challenges of going digital

I NOTED the comments last week of Arqiva’s chief executive, Tom Bennie, that the digital switchover is not really a technical challenge, merely a logistical exercise. Here on the south coast, I have just recovered my channels after the switchover in March. To do so has cost me £200 for a new aerial and booster and a taller mast, despite which I still have a weaker signal than previously.

Steve Mann
Ringwood, Hants

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