Yes, G4S got things seriously wrong
with their Olympic security shambles.
But, I am sympathetic to the comments
made by Neil Woodford, Investment Manager at Invesco Perpetual which
owns around 5% of G4S’s shares.
Woodford said the verbal dressing down
of Nick Buckles (Chief Exec of G4S) at the select committee meeting
last month was like watching “a medieval persecution….if this is
the way Parliament wants to treat business, please Parliament, don’t
be surprised when businesses decide this isn’t the country for
them”.
He went on to say that the behaviour of
MP’s was “incredibly damaging for the economy and this
country…..Companies will be thinking twice about bidding for any
government work”.
It’s just too easy for politicians to
have a cheap sound bite swipe at business which they think will go
down well with the majority of the electorate. We’ve seen it so
many times before. It would be so refreshing to see politicians
recognising that we need to send a message to the global economy that
the UK is open for business and looking for more.
Domestically, it is ultimately down to
business to get the UK through this economic mess that has been
created by the politicians! – A little bit of support from time to
time wouldn’t be a bad thing.
Tim Corfield - August 2012
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