Real Madrid says it has an estimated 300m fans globally, more than half based in Asia. So I shouldn’t be surprised that it wants to put its name to a $1bn theme park in the United Arab Emirates, closer to that growing fan-base.
Computer-generated image of Real Madrid Resort Island (AFP Photo / Real Madrid)
Even so, I worry that such hubristic brand-building projects – the chief executive of Real Madrid Resort Island describes it as “sportainment”, a term I dearly hope never catches on – could distance football clubs further from their roots. Read more
In its new report, the High Pay Commission makes much of the risk that Britain will slide back to “Victorian levels of pay inequality” if runaway executive pay awards are not somehow reined in.
The parallel with the Victorian era is a resonant one. Even some of the characters in the modern-day saga are Dickensian. The avuncular Vince Cable, Britain’s business secretary and supporter of the thrust of the independent commission’s proposals, is half-Micawber, half-Cheeryble. John Varley, former chief executive of Barclays, seems a stiff-collared braces-wearing throwback to an earlier era in most respects – except one: the commission points out that top pay at his old bank is now 75 times that of the average worker, compared with a ratio of only 14.5 times in 1979. Read more
Even Europhile economists must have pricked up their ears at the offer of £250,000 to the person who comes up with the best plan for winding up the euro. Only the Nobel offers a more valuable bounty to the dismal scientists.
But whatever you think of the goal, is the Wolfson Economics Prize – offered by Lord Wolfson, the youthful, Eurosceptic, Conservative chief executive of Next, the UK retailer – the best way to achieve it? These days, bright business ideas often emerge through collaboration, rather than competition. Read more
“Strong banks want strong regulation.” That fact has been misunderstood in the wake of the financial crisis, according to Bob Diamond, Barclays chief executive.
“No one has suffered more than those strong banks that have been thrown in the same reputational basket as weak banks”, he said at a panel this morning at the Clinton Global Initiative in New York. Read more
The hotel vestibules were buzzing as I arrived – seems President Sarkozy pulled no punches in his address yesterday and people are up for ‘rethinking and redesigning’. But, I asked my dinner companions, to what extent? If you were going to redesign a global economic system right now, would you tolerate design flaws that leave 70m kids out of school?
But what grabs people’s attention is the Tiger Woods back-story and how well his erstwhile corporate sponsors handled the PR crisis – must say I never expected that as a Davos theme. Read more