A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Monday, July 11, 2011

Rupert Murdoch finds the temperature rising

It's tough at the top and that's no laughing matter
Rupert Murdoch had not long been back in Britain when he saw the thermometer rising and the sun shining in London. Yes, today is a nice summer's day. The heat is on. And as far as Murdoch is concerned, he's got his hands on some hot irons he's trying to cool down. All around him people are speculating. Speculators are speculating. Will the BSkyB deal go through? Not likely! Let's take our money and run. Renault has run from Murdoch. So has the Church of England, although rather like David Cameron they are giving him a second chance if he mends his ways. He did get a pastoral bashing, though.

So what happens now. Murdoch is the story, along with his protegee Rebekah Brooks. She must have presented her case well to him. Selective memory loss is a corporate stock in trade. The trouble is that one has few friends in corporate wonderland when things go wrong. Look at Southern Cross. Today it has been crossed off the business map and is no longer a viable enterprise. Most knew that long ago. What we don't know is whether the skimmers will have to account for their fat bank balances.

Murdoch's personal bank balance isn't too bad I'll bet. But his corporation looks like it is in trouble. He needs advertisers and he needs investors. Both look like they see his "brand" as being toxic. Britain has never taken well to Rupert Murdoch coming into Britain and monopolising the media. However, he has saved much of what he took over from oblivion and that is to his credit. What is not to his credit is the corporate sleaze that now seems to be unfolding from the files and folders of his business empire's records. Honour and integrity should be at the heart of business. Far too much of it though is permeated by wrongdoing and a high-handed attitude to customers and suppliers.

Well now they are biting back. Investors should sit up and wonder if they are actually close to criminality. Suppliers should ask themselves if supping with devils (as many corporations have become) is a good thing. And customers should test whether they should buy from companies that have been found to be doing iffy things.

David Cameron says the buck stops with him. If it does, then the clean-up of British business starts with his government. Out with the pan and brush, Prime Minister!


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