Saturday, December 19, 2009

Scotland Loses the Noble Prize

Edinburgh is now going to lose the merchant bank Noble Group. Reported in Das Herald Sturmer (DHS) today:

Noble’s Scottish roots abandoned with buyout

In the article Sir Iain Noble, whom I've met and who seemed a very agreeable sort, was described as a 'controversial financier'. Is this because he supports Gaelic and Scottish independence one wonders? DHS's journalist Tim Sharp refers to the outgoing chairman Ben Thomson as a "supporter of Scottish independence" and points to the supposed irony that Thomson: "has been a champion for retaining a strong Scottish financial sector."

Now, Das Herald Sturmer is rightly proud of its Scottishness. Whilst reading Sharp's article I really did get a strong sense of irony. A story which is really about Scotland losing another finance HQ to London is dressed up as a hypocritical 'Nat' story (election is not far off now) by a hack whose title is 'City Editor', pfffff. Sharp practise indeed by little Timmy.

Something else is missing from the article. There's no mention of all the cheap taxpayers's money Brown is dishing out to banks. We know, thanks to John McFall, that every bank in Britain is insolvent and the entire financial services sector with it so where is the money coming from to buy the Noble Group? Yes, the taxpayer. Rabbit-hole economics people!

The article does point out something interesting though. It seems that Thomson and the Noble brothers sold their shares in the company in January 2008. Did they see the 'credit crunch' coming? Good for them. Now, with that extra cash swilling around can they not buy Das Schottishman from Johnston Press and give us cybernats a holiday from countering union propagandists?


Bob said...

Aye you're a brave man Alex. Visiting the hootsmon and Herald.
Unionist papers purporting to represent Scottish interests.
There was a funny article the other day in the hootsman moaning about the SNP plan to allow councils to advertise road closures etc online. Howls of protest about democracy etc. Crocodile tears from a paper that sees it's only advertising money being stopped more like.
I see another airline company has gone under. Allbany group. Website blocked etc. I wonder if their credit money was in a Cyprus bank aswell.

Aye We Can ! said...

your point about rich nats is a good one. Buy a paper, please

Bob said...

Sorry it was Allburlry travel. Part Cypriot I think...

Alex Porter said...

Thanks Bob,

Aye, I think 2010 is going to be full of stories like that. All the bail-outs are killing the real economy. I think the Tories are gonnie keep on printing money too.

What a nightmare and hardly a soul out there with a clue about why the 'solution' is the problem!

I mean I've even read entrepreneurs like Sir Tom Hunter telling us that politicians should be concentrating on the economy. Someone like him should know that the politicians should be kept well clear of the economy - they only screw it up which is the reason we're in this mess!

Allan, I hear ye.