Sunday Times and Croissants - CEO's update 2nd October

There is something special about Sunday morning, the Sunday Times, hot croissants with honey and butter, excellent. Headlines, Cameron says sorry to women following a series of gaffes at PMQs. I am not some sexist beery bloke who goes down the pub, says the prime minister. Next week an apology to beery blokes who go down the pub, in the pursuit of the ever elusive marginal vote. 

David Smith suggests Osborne seeks solace in lessons from history. A reference to the austerity package delivered in the 1981 budget and others. The Chancellor is sticking to his guns, the lad is not for turning. This is no time to be pulling faces at my economic strategy, a sort of you gurn if you want to headline!

Economics news this week - very thin on the ground. Nothing from the Office of National Statistics for ten days, sulking over a reprimand, presumably, for messing up the construction stats release. Apparently the second quarter figures included March, April, May as opposed to the more conventional, second quarter analysis. It is easily done but no wonder there are so many post hoc adjustments to the data sets.

The Labour party conference came and went. Ed Milliband launched the latest in the Predator film series with a new blockbuster - Predators and Producers. Producers good, predators bad. So much for competition theory, he should be told, we are all predators, fast becoming scavengers, in evaporating markets. Editor Note - asset strippers - those in pursuit of undervalued under leveraged assets - those were the days.

The Labour attacks on government policy were so thin that Andrew Tyrie, the formidable Chairman of the Treasury Select committee decided to help out. Tyrie is unimpressed by the Big Society and the lack of a growth strategy, suggesting economic policy is inconsistent, incoherent, contradictory and at times irrelevant. Who would have thought?

Tyrie has a point, why spend billions on a Libyan adventure and then try to save millions making 1000 sailors redundant?

In an interview for the Telegraph, Osborne claims “We CAN lead our country out of this”. I am shocked. Up until now number eleven had been maintaining we WERE out of it. Apparently, the problem is not in the UK but in Europe. A deadline has been set by the Chancellor to sort it, or the Europeans, can not join the November G20 meeting in Cannes.

Something did happen in Europe this week. The Germans voted to extend the size and scope of the bail out fund to 440 billion euros. So far so good, just another trillion or two to complete the job. Despite the sceptics, the world needs the euro and euroland. No one gets in or out. The problem with the Germans, they do not have a word for fait accompli.

In the 1960s, the world shuddered as the super powers moved to nuclear war allegedly over Cuba. Contrarians, believe the real Krushchev objective was to remove US missiles from Turkey. International strategy was dominated by a MAD strategy. The concept of Mutually Assured Destruction, in which conflict between opposing sides would effectively result in the complete, utter and irrevocable annihilation of both the attacker and the defender. A MAD strategy hovers over Europe, as the only option to resolution of the current crisis.

Back to the day job, Monday, internal meetings in the morning and in the evening the  Insider Leaders Dinner at the Lowry Hotel. Fred Dunn interviewed by Michael Taylor - great session. On a good table with Richard Hughes from Zeus Capital and Jennie Johnson from Kids Allowed.

Tuesday, I am published in The Times - Business Insight. My article on why regeneration is more than a phase leads the front page. For those who missed it, check it out on the blog. Check also - Why more QE is the wrong policy option - also on the blog.

Later, preparation of the Business Conditions Survey report published later in the week. Then, write up of of a research proposal for AGMA on the shape of the financial and professional services sector in 2020. Head hurting, escape to play tennis with Mary in the afternoon.

Wednesday, planning meeting for the pro.manchester Business Conference 2012. We have a great line up of speakers again. The formal launch begins in October but Kirsty Wark and Gavin Esler return to the Point on the 1st March 2012, reserve the date now.

Thursday I am in Bolton for a meeting with Rob Campbell Pro Vice Chancellor of Bolton University. Rob describes the challenge of developing a higher education financial strategy in the current climate, as rebuilding a boat, in which one is sailing, through stormy seas. Excellent!

This is followed by a Marketing Manchester board meeting in Bolton Town Hall - the artillery suite. Despite the venue, no explosions in the meeting, all passes well, a great team, doing a great job, a solid board report and financial analysis.

Friday, an editorial meeting for SME club and lunch with Chris Barry from Business Desk North West. Chris has always been a staunch ally of pro.manchester and it was great to have a chance for an informal catch up. Rosso again, forty quid for two. Cool.

Finally, to close the working week, a quick check on Google Earth, to see if Greece and Germany are still there, they are. I relax.

Saturday, up early to watch the England Scotland game. It is a win, bring on the French. In the afternoon - tennis, it is a draw, six all, singles with Mary. I point out my biorhythms are rock bottom, all at once. (I know because there is an app for that).

Hope all is well with all, more news next week,
John
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The views expressed are my own and in no way reflect pro.manchester policy. In no way should the comments be considered as investment advice or guidelines or reflect political bias. UK Economics news and analysis : no politics, no dogma, no polemics, just facts. JKA is a visiting professor at MMU Business School, an economist and specialist in Corporate Strategy, educated at LSE, London Business School with a PhD from Manchester Metropolitan University.