RUSSIAN billionaire Alexander Lebedev is taking the concept of “starting them young” to a whole new level.
Frustrated by the lack of power that the boards of Russian state-owned companies have, banking and media mogul Lebedev has recommended his own son to join the board of directors on Russia’s flagship airline Aeroflot.
His son Egor, however, is only 15-months old.
In a statement released in Russian, Lebedev explains that the point of his joke is that if state company boards have no real power, then why have adults at all?
■ Former Société Générale banker Will Davies (pictured) has come up with an innovative way to get around the pricey car parking meters in the capital. Davies, who spent seven years working in mergers and acquisitions at the bank, left in 2005 to found property maintenance firm aspect.co.uk. He took on unemployed youths and discovered if they have a clean drivers licence they can act as “car-sitters” – which means they would sit in the driving seat and move the vehicle when parking wardens approached. “It's cheaper and more convenient than us paying parking fees” said Davies. Apparently
■ On the subject of parking, The Capitalist hears it was simpler back in the bad old days of three day weeks and 98 per cent tax rates. In his first job in the City in 1976, Icap boss Michael Spencer used to leave his car on an old bomb site converted into cheap parking spaces a short walk from his office – on what today is the Broadgate office complex, where Icap and many other giant firms are now based. There is an underground car park nearby these days, but at £27 per day, suddenly the Underground looks a lot more attractive.