Politicians don’t know how incentives work September 20, 2011 THE chancellor George Osborne and business secretary Vince Cable believe that Britain’s economic problems are partly to be blamed on poorly designed incentive schemes. They believe that senior businessmen are “rewarded for failure”. If this were true, it would indeed be a problem. But the idea is preposterous. Why would the owners of a company [...]
Poverty of debate is holding us back September 18, 2011 IT is obvious that companies need to work harder to make sure that all their employees deliver the goods. This must apply to everybody, including CEOs, who are hired by shareholders to maximise their value. They should be paid a lot if they do well and fired without massive payoffs if they fail. It should [...]
Groupon boss in spotlight as IPO halted September 7, 2011 THE SPOTLIGHT has fallen on Groupon boss Andrew Mason as news of the deal website’s postponed float begins to sink in. Its ambitions of achieving a $20bn valuation have been put on indefinite hold, with Mason’s souring relations with the Securities and Exchange Commission (SEC) thought to be among the reasons. Tensions have been simmering [...]
theatre HIGHLIGHTS THIS AUTUMN eight of the best September 1, 2011 THE TEMPEST Theatre Royal, Haymarket Ralph Fiennes, soon to be starring in his own film version of Shakespeare’s play Coriolanus, takes on the iconic role of Prospero in this must-see production (see right). It’s the first major London staging of the Bard’s mysterious final play in years, and also happens to offer the prospect of [...]
ONE MAN IN A BOAT FOR SOLO WORLD RECORD BID August 29, 2011 HE HAS already crossed the Tasman Sea and the Atlantic and survived two hurricanes in his attempt to complete one of the last remaining world firsts. Now Olly Hicks of executive search firm Oliver Stanley is counting down the days until his most extreme mission yet: an 18-month journey to become the first person in [...]
Make like Bond with an Aston in the Alps August 21, 2011 AMERICAN novelist Mark Twain wrote that rambling in Switzerland’s Bernese Oberland was incomparable to any opiate, legal or otherwise. Imagine the rush, then, to be booming an Aston Martin V8 Vantage S round the picturesque, vertiginous Alpine passes, past crystal-clear glacier lakes and verdant valleys where cow bells jangle for miles. I’ve been let loose [...]
Gunners can notch their first win at the Emirates August 18, 2011 ARSENAL vs LIVERPOOL TOMORROW – 12.45PM SKY SPORTS ARSENE Wenger is one of the most experienced managers in the Premier League, but the last few weeks must still have been pretty testing for him. The sale of Cesc Fabregas to Barcelona clearly hurt and with Samir Nasri heading off to Manchester City plus a couple [...]
Puma sprints to record sales July 27, 2011 German sportswear maker Puma chalked up record sales in the second quarter, as consumers across Asia and Latin America stocked up on running shoes with the jumping cat logo. Sportswear has rebounded strongly from the global recession, with the big name brands of Nike, Adidas and Puma all reporting robust demand this year. Puma, whose [...]
BOOKS: CHILDREN’S SUMMER READS July 20, 2011 PICTURE the scene: it’s quiet, the wind is playing with your hair, the birds are tweeting and you’re on your second margarita. This is not you and your partner alone on holiday: no, it’s the whole family sitting in peaceful, engrossed silence devouring your respective books. If this scene appeals, here are some suggestions for [...]
Banks’ bounce aids uptick in the FTSE July 19, 2011 A rally by recently beaten-down banks and commodity issues hauled Britain’s top share index higher yesterday, although many traders doubted whether the gains could hold. “Dead cats are proving pretty elastic … It is most likely that any hedge funds shorting stocks over the [banks] stress tests are back in and buying to cover their [...]