Birmingham Post - Business Blog

The warped world of incentivising

Tue, 14 Oct 2008 09:10:05 +0000

Despite all the chaos in our financial system, there still seems to be a significant number of apologists prepared to go on record and justify the renumeration potential within the banking sector.
Every time I switch on the radio or open a newspaper, a commentator from the financial sector uses the dreaded I word (incentivise, not idiot) to justify the massive salaries and bonuses that are currently and will continue to be enjoyed Bo Jo's masters of the universe.

Have chickens come home to roost for Lehman workers?

Mon, 15 Sep 2008 13:13:53 +0000

Redundancy can be a terrible thing (we know a thing or two about it in these parts) and I wouldn't wish it on anybody but I wonder how much sympathy there will be for those now being shown the door following the collapse of Lehman Brothers.
This year City workers shared more than £13bn in bonuses - equating to £27k for every worker - and knowing what we know today, one has to ask why.
Yesterday Stephen Green from HSBC called for bankers only to be be handsomely remunerated when a deal is successful - it might surprise many to hear that this isn't already the case. Either way reform looks a certainty but will it prevent this kind of cataclysmic collapse happening again?

Second guessing the economy and TV interviews

Fri, 05 Sep 2008 17:37:21 +0000

Yesterday I was interviewed by BBC Midlands Today about the state of the region's economy.

These things are always tricky to gauge. You may be interviewed for ten minutes, but you know that only a few seconds of what you said will get into the report.

I was trying to strike a balance: I didn't want to come across as the next Alistair Darling and be talking the region into recession, but I also didn't want to be overly positive and come across as naive.

I'm not sure the end result achieved that objective, what do you think:

Pubs feeling the pinch

Wed, 03 Sep 2008 10:27:45 +0000

Consumer confidence may have held steady last month (the majority of us still feel skint, just fractionally fewer of us than last month) but it seems that we are spending what disposable income we do have anywhere but the pub.
Stocks in Punch, Enterprise and even that bastion of the two-for-one tipple Weatherspoons have all taken battering this morning even though the latter is still looking for potential sites and has just opened another raft of premises across the Midlands.
The pub groups are blaming the economic downturn, rising costs, cheap alcohol prices in supermarkets and inevitably the smoking ban. Now the first three reasons seem perfectly reasonable but surely it is time to stop laying the blame of falling revenues at the door of the smoking ban - I am yet to meet a single smoker (and I know a few) who has decided against going for a drink because they can't light up inside.

My first blog as head of business

Tue, 02 Sep 2008 09:46:00 +0000

Good morning and welcome to my new blog. My name's Alun Thorne and I am the new head of business at the Post. I have to admit this is quite a momentous day for myself for while I have often commented on other people's blogs under a range of nom de plumes, this is the first time that I have exposed myself to to the full glare of the online community - and rather daunting it is too!
Nevertheless, the Post's online content is becoming increasingly important, not just in terms of what we can tell you but what you can tell us - music to the ears of any self respecting journalist - and so while I hope to use my blog to get the odd thing off my chest (no great surprise to those who already know me), its main function will be to find out what you think.
Certainly lots on the agenda, not least the Government's attempts to reinvigorate the housing market and I see some of my fellow bloggers have already made their views known. Has the Government done enough and is it actually their responsibility? I look forward to hearing your thoughts.