Daily Archives: February 2, 2009

John Gapper

So Sandy Weill, the former chief executive of Citigroup, has retreated from using the bank’s corporate jet fleet in the face of hostile headlines, notably “Citi’s Sky-High Arrogance” in the New York Post.

It is a further indication of the extreme inadvisability of companies and banks that have either been given public money, or are seeking it, allowing their executives to fly in Gulfstreams and the like. Read more

John Gapper

There is a fascinating interview in the FT today with Sir James Black, the scientist who helped to discover beta blockers and cimetidine, a stomach ulcer treatment. The thing I took from it was his extreme scepticism about drug company mergers, which seem to be revving up again.

Sir James view of mergers such as last week’s $68bn takeover by Pfizer of Wyeth is: Read more