Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Monday, 6 September 2010

A room of one's own: an unattainable dream?

Where there's an online product, you'll soon find a hacker or a pirate.

The latest examples that confirm the human urge to scream 'Mine' very loudly are Andy Coulson's tenure as editor of the News of the World (phone hacking has been alleged by, most recently, the New York Times) and hacker success in distributing popular ebooks for free.

Even the unveiling of the Stig's identity on Top Gear smacks of the school playground bully, tearing off the wings of a butterfly.

At stake, personal and professional privacy, and the right to make money from electronic products.

This is a gold rush in reverse where, in a landscape where information wants to be free, no one is allowed to make money. This spells disaster to conventional business models for creative companies. The globalisation effects of YouTube, home recording and back-bedroom piracy will propel the media into a dangerous Wild West outlaw world where copyright is seen as red tape and creatives won't be able to earn a crust. The new billionaires will be the sharp-elbowed owners of the speakeasies at the edge of the law and beyond.

The likes of Mick Jagger, J K Rowling, Steven Spielberg, Clint Eastwood and Dan Brown represent the last of a dying breed: stars who get rich through their imaginations.


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Friday, 27 August 2010

Live from Easter Road: Thompson 1 Murdoch 1

At the Edinburgh television festival's MacTaggart lecture, the BBC director general, Mark Thompson ordered a dish of hot revenge from the media menu. His target was James Murdoch, Sky's chairman, who roasted the BBC during the event's speech last year.

What would be more impressive than the knockabout jousting would be a smidgen of mea culpa. But media moguls are politicians these days and have to be seen to avoid Gerald Ratner-style 'crap' gaffes. You can't admit to naffness without adversely affecting the next BBC licence-fee settlement or the next morning's Sky share price.


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Wednesday, 21 July 2010

Don't believe the type

Primary Care Trusts are due to be abolished, according to a White Paper publishing by the Government and the fall-out commentary in the media.

Not so fast. At a barbecue last night I met a senior LibDem policy wonk who said there were communications issues to be ironed out with the Conservatives, included the supposed demise of the PCTs. Apparently White Papers are little more than a first draft.

Hmm. Either this means there'll be a big fight on this or that the PCT proposal will be kicked into the long grass, beyond the timeframe of the coalition.

In the meanwhile, here's an idea for recycling the White Paper ...


Search Amazon.com for white paper

Saturday, 10 July 2010

Another con bites the dust

So, another stakeout ends in a blaze of gunfire: Raoul Moat, the Northumbrian killer on the run, has shot himself when cornered.

The sad truth is that this was a predictable outcome. Think of Bonnie and Clyde, Butch Cassidy and the Sundance Kid, Billy the Kid, John Dillinger, and Adolf Hitler, and a pattern forms. I can only think of Saddam Hussein and Radovan Karadzic as examples of people who came quietly when surrounded.

Perhaps in times of economic uncertainty we are more aware of heinous crimes, as a backdrop to financial hardship. Whether symptom or cause, these cases spring from despair but are magnified by the media. Once such a crime spree starts cascading, the media supplies the oxygen to keep the fire raging: taking the criminal alive would almost seem like an anti-climax.

And how come the most infamous of these episodes always seems to happen in rural idylls? Hungerford, Dunblane, Cumbria and now Rothbury? Why not, say, Birmingam, Cardiff, Edinburgh, or London? After the fuss has subsided, there may be an eerie fascination for a certain type of tourist in visiting the scenes of the crimes.


Search Amazon.com for gun crime

Wednesday, 23 June 2010

England expected

For those of us working this afternoon, the experience was like operating in a ghost town. No phone calls, no faxes, no emails, and the occasional afternoon roar, specifically when Jermaine Defoe scored for England against Slovenia after twenty minutes.

The pubs were jammed packed with people spilling out on to the pavements. The shops were tuned to the television. The offices were empty.

Several people at my office took the day off, including staff with no interest in football. It will be interesting to see the cost to the British economy of this national, collective skive.

Perhaps the only people not to know the score in real time were the combatants John Isner and Nicolas Mahut in a record-breaking men's singles tie at Wimbledon: five sets, ten hours long and counting with the fifth set lasting around seven hours standing at 59 games all overnight ...


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Tuesday, 22 June 2010

Budget: blue is the colour

When even the Queen is subject to a pay freeze as the Government applies the budget tourniquet, what could possibly be the antidote to the fiscal gloom?

What can provide relief from job worries, benefit blows, tax torment and service cuts? And World Cup torment to boot?

Football bloopers ...


Search Amazon.com for budget

Tuesday, 8 June 2010

Radiohead: In Rainbows and the lack of gold

Millionaire, Thom Yorke of Radiohead has a bleak message for musicians wanting to make their fortune: the record-label based music industry will be dead within months.

The business model of In Rainbows may be open to every bussing muso, but the market is saturated and bands need ways to stand out from the crowd: principally, it seems at the moment, by being famous already (witness Radiohead, Prince, the Rolling Stones, and Simply Red).

Perhaps the hip-hop solution can be applied to the industry at large. The most famous rappers are becoming hubs around which new talent can coalesce (an early example being Eminem's involvement of D12 and Obie Trice). The hubs will be the nouveau riche

Like viral blog recommendations and links, the goodwill and praise of a famous artist (for a percentage cut) may be sufficient to drive download sales. And online musico-dramaturgs will emerge in greater numbers, carrying the John Peel legacy on to the web (say, his sons: Tom and William Ravenscroft; and Tom Robinson). The sharing of music is much more than playing records; the title DJ does not encompass the revised job description of these new gatekeepers to the music.

The recording industry is dead; long live the recording industry.


Search Amazon.com for record industry

Friday, 4 June 2010

Brothers blooming?

Why do stars act in low-budget movies? Answers on a postcard, but here are a few suggestions:
  • The stories are less formulaic, so the parts are more interesting?
  • The opportunity to play someone different, to go in a new direction?
  • The chance to participate in the movie's profit?
  • The convenience of seeing your family, as locations would of necessity be cheap?
  • The slim chance of being in the next independent classic, with higher probability of being considered by Uncle Oscar and/or the Sundance Kid?
  • The opportunity of working with directorial and writing talent not yet sucked into the corporate Hollywood machine?
Perhaps all of the above? The Brothers Bloom ticks most of these bullet points.


Search Amazon.com for low-budget movies

Sunday, 30 May 2010

Musical chairs at the Treasury

If John Paul I was the Pope of the moon (he died in office after 33 days), then David Laws was the Cabinet minister of the honeymoon: he resigned today after 18 days over an expenses claim blunder masquerading as a privacy issue. It was the Telegraph wot dun it.

Welcome to the political pleasuredome. Life in power can be nasty, brutish and short, although with the swiftness of Mr Laws' departure, he may well be back after the Parliamentary Commissioner for Standards has had a rake over his rent arrangements.


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Tuesday, 25 May 2010

Sarah Ferguson and the toe-curling sting

The News of the World does it again. English 'royal' gets entrapped taking the cash and sipping the booze.

Still, look on the bright side: the Duchess of York didn't use the old Russian mafia excuse.


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Laws of diminishing returns

David Laws and George Osborne announced the first £6 billion cuts to tackle the UK budget deficit today. One of the casualties is the Qualifications and Curriculum Development Authority [QCDA], a quango that maintains the national curriculum and acts as an umbrella to public examination boards.

Hmm. It will be interesting to see what they put in its place. Someone will have to run the national curriculum, and GCSEs and A-Levels will not disappear anytime soon. Either the QCDA will be reborn within the Department for Education [DfE] or the national curriculum itself is about to be revamped.

Looks like this won't be much of a saving, having to reinvent the wheel; and the consultants will resurface to help whichever new body takes on the responsibilities to navigate a smooth transition.


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Tuesday, 18 May 2010

Gallows humour at the Treasury

A comparison of Reginald Maudling and Liam Byrnes' respective notes to their successors in Government is illuminating.

In 1964, Reggie M greeted James Callaghan, the new Chancellor of the Exchequer, with the immortal words: 'Good luck, old cock. Sorry to leave it in such a mess.' The incident only came to light in subsequent memoirs.

Liam Byrne's letter to David Laws read: 'I'm afraid there's no money -- good luck.' A missive made public within a few days at a press conference.

Fifty years is clearly a geologic era in politics. The striking contrast is in media deference to politicians and the need to feed to 24-hour news cycle. In future, retiring politicians won't publish memoirs, they will launch retrospective vlogs on YouTube; and the 30-year rule that embargoes official secrets will be the exception rather than the rule.


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Sunday, 9 May 2010

The Premiership result

The football result was decisive, with Chelsea beating Wigan Athletic 8-0 to waltz off with the title ...

So far, well into the second half, the Cameron County versus Clegg City fixture is still goalless, with extra time looming. The markets have the final whistle, and they may impose a penalty shoot-out.

Who'll end up with the PM trophy? Will they toss a coin? And will the fans be buying their season tickets for the next general election, which may turn out to be sooner than everyone hopes.


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Monday, 3 May 2010

Drill, BP drill?

President Obama has a problem, now, getting his climate reforms through the Senate with the BP oil rig disaster in the Gulf of Mexico.

But this pales into insignificance alongside the travails of the Republican party on this issue.

Whither Sarah Palin? Should baby still be drilling? She has been more muted since the crisis began, apart from tweeting her condolences to the families of the dead oil workers.

Hmm. I suppose much rests how how much the American people will take when it comes to increased gasoline prices. Voters can have short memories, when environmental catastrophe comes up against people's personal budgets.


Search Amazon.com for gulf oil

Sunday, 2 May 2010

Beware of Greeks bearing IOUs

Poking through the continuing blanket election coverage a story with the potential to derail the incoming Government: the devastation being wrought to the reputation and viability of the Euro by the tribulations of the Greek economy.

Years of laissez-faire and low-level corruption are coming home to roost in Greece. The ability of Eurozone countries to support the Greek economy is complicated by the markets threatening to downgrade the status of economies of Spain, Portugal and perhaps Ireland and Italy. Especially when the likes of Goldman Sachs start betting on the outcome.

Hmm. The day after the election will include focus politicians minds on how to keep Britain's economy out of the gathering vortex and avoid going down the plug-hole, irrespective of the specific fiscal tools the Cabinet may have at at its disposal.

A corollary to this is the lack of funds the Greeks are currently investing in its ancient treasures like the Acropolis in Athens. To be blunt, its national heritage is crumbling and international help may be needed to shore up the monuments.


Search Amazon.com for Greece

Tuesday, 27 April 2010

Spinning on the line

The glory of opening the East London line extension from Hackney to New Cross today (and soon to West Croydon) was monopolised by Boris Johnson, the Mayor of London, without him having made the decision to build it.

This is why Ken Livingstone, his predecessor in the job, tried to muscle in on the postponed launch a few weeks ago.

This is the easy bit for Mr Johnson. The tricky part will be to deliver Crossrail and the remaining portion of the East London orbital line from Surrey Quays to Clapham Junction without cutting existing services (e.g. the London Bridge to Victoria route).


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Monday, 19 April 2010

Goldman Sucks

Rats are leaving a stinking ship: clients, etc.

Goldman Sachs, the US investment bank, is accused of selling sub-prime mortgages to American house-buyers while simultaneously hedging its bets against people being able to keep up with the payments.

A win-win situation for the bank? Not according to the SEC, who have filed a lawsuit against the company.

The creative brain behind the deal, Fabrice Tourre, is now working in London, but perhaps wisely did not show for work this morning.


Search Amazon.com for Goldman Sachs

Tuesday, 30 March 2010

The race for No. 11: the warm-up

The UK's first live television debate between party chancellors-in-waiting took place this evening. And all this before the election has even been called.

So who won the hustings?

Feedback suggests this wasn't the most entertaining way to unwind in front of the box, but by Newsnight's reckoning Vince Cable won the audience but George Osborne's lack of gaffes may convince floating voters that his lack of experience is not a weakness. Who really knows?

Perhaps the best prediction is that the editing of such debates is crucial, as the best soundbites will make news bulletins that more viewers will watch. Whether or not even these clips will make a difference only times will tell.

Maybe television debates highlight gaffes and little else? Witness the lack of enthusiastic blogging and limp Youtube action...

Thursday, 25 March 2010

Cider House of Commons rules

Cider and perry got the brunt of yesterday's Budget hikes, to the tune of 10 per cent. This was ostensibly to crack down on the problem of binge drinking cheap hooch, witness the ability until recently to buy a pint of cider for 26p in Sainsbury's supermarket.

So what's a poor boozehound to do, now that so many alcohol options are being taxed to the hilt?

Like the recent mephedrone problem in drug culture, where legitimate substances (in this case plant fertiliser) are being abused for cheap yet self-destructive highs, perhaps hard-core drinkers may be tempted to try cheap underground sources of alcohol without the benefits of quality control? Or maybe try to brew moonshine at home? And cheap supermarket loss leaders are not going to disappear overnight, as the British obsession with alcohol is deeply ingrained.

The next phase will be to print warnings on labels, as with cigarette packets, and warn drinkers of the long-term health dangers of over-indulging. While such tactics may be admirable and desirable, the Government earns too much from taxing alcohol to bite the bullet too hard. And too many MPs enjoy a tipple or two, especially in their subsidised bars.

In a few years' time, should social attitudes change, we may see bans on people drinking in public spaces(including outside pubs): the Mayor of London, Boris Johnson, made a big play about banning alcohol on the tube. But too many voters enjoy their booze for politicians to get really serious about limiting access to alcohol: accusations of nanny-state policies don't go down well at the ballot box.


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