This was always likely, wasn’t it?

The Australian law firm that bought Quindell’s legal business in a disastrous £637m deal has claimed that the controversial British company misled it over the prospects of the personal injury cases on the books.

Slater & Gordon was crippled by the ill-fated 2015 acquisition and earlier this month served Watchstone, as Quindell is now known, with a High Court claim seeking to recoup all of the money it spent.

Court documents obtained by The Telegraph show that central to Slater & Gordon’s lawsuit is an allegation that Quindell made fraudulent misrepresentations about the dilution rates at its so-called professional services division (PSD).

Dodgy, dodgy, all the way through.

Not a great understanding of capitalism here

The impact of the Whole Foods acquisition has already been dramatic. After the deal was announced, the value of Amazon’s stock went up by more than the purchase price, which means the deal paid for itself. The value of Amazon’s closest competitors, including Target, whose stock dropped by 10 percent, and Walmart, whose stock dropped by 5 percent, fell by an even larger amount.

This is not what is supposed to happen. Amazon’s stock is supposed to drop with the acquisition of a troubled company.

Err, why?

Something which increases the value of Amazon should make the stock price rise, something that diminishes it fall. Very much he majority of corporate purchases destroy value for the purchasing company thus the general observation that the stock price of the acquiring company falls. But there’s no “should” about it, it’s just a general observation. If it is though that this deal will boost Amazon profits then the price will rise. As people obviously do think because the price has risen.

How the hell does the US work these days?

Just tried to find out some stuff. How do I get translation rights to some media stuff. But it’s an odd request, not standard at all.

And no one at all ever answers a phone anywhere. You must know the name of the person you want or you’re not going to get anywhere. General numbers simply don’t get answered at all. And sure, standard requests are well handled by ‘bots. Tell us the name of the piece you want, what you’re going to do with it, the website will send you a quote. But obviously that cannot handle anything non-standard.

Given that you can’t ever get hold of a human who does know how to handle non-standard, how does non-standard ever get done?

Ahahahahaha, Ahahaha, it was the vacuum cleaner at BA!

The incident is thought to concern an uninterruptible power supply (UPS) which delivers a smooth flow of power from the mains, with a fall-back to a battery back-up and a diesel generator.

This week BA’s parent company, International Airlines Group (IAG) admitted that the supply to Boadicea House, a data centre, was temporarily lost. An internal investigation found that the UPS, believed to have been supplied by Hitec Power Protection, was functioning correctly at the time.

One BA source said it was rumoured that a contractor doing maintenance inadvertently switched the supply off, although this has not been confirmed.

An internal email from Bill Francis, head of group IT at IAG, appeared to confirm this version of events. The email, leaked to the Press Association, said: “This resulted in the total immediate loss of power to the facility, bypassing the backup generators and batteries . . . It was turned back on in an unplanned and uncontrolled fashion, which created physical damage to the system.”

Snigger.

So, construction is now soldiering, is it?

The construction firm Mears has banned its workers from having beards, citing health and safety grounds.

Staff were told of the decision at a “tool box talk” in Tower Hamlets, east London, that beards were now banned so that workers could “wear appropriate dust masks effectively”.

Mears has said workers need to be clean-shaven in order to be safely fitted with a tight-fitting face mask when working in dusty environments, and exceptions are only made if a worker can’t shave or a mask cannot be worn for medical or religious reasons. But for the company to allow this either a medical certificate or a letter from a place of worship must be presented.

Can we say elfnsafetygonemad yet?

Hhhm, yes, but, umm, no

In BA’s case, the UPS in question delivers power through the mains, diesel and batteries.

On Saturday morning, shortly after 8.30am, power to Boadicea House through its UPS was shut down – the reasons for which are not yet known.

Under normal circumstances, power would have been returned to the servers in Boadicea House slowly, allowing the airline’s other Heathrow data centre, at Comet House, to take up some of the slack.

But, on Saturday morning, just minutes after the UPS went down, power was resumed in what one source described as “uncontrolled fashion.” “It should have been gradual,” the source went on.

This caused “catastrophic physical damage” to BA’s servers, which contain everything from customer and crew information to operational details and flight paths. No data is however understood to have been lost or compromised as a result of the incident.

BA’s technology team spent the weekend rebuilding the servers, allowing the airline to return to normal operations as of today.

Umm, they didn’t have a 100% mirror, entirely redundant back up, system on another site, on another power supply?

They didn’t?

Oh….

Well now, fancy that!

The world’s top five technology companies are minting millionaires at an unprecedented pace, handing out stock awards that are more than 60% higher on average than the bonuses for workers in Britain’s financial services industry.

Apple, Amazon, Microsoft, Facebook and Google’s parent Alphabet doled out a combined $20bn (£15.4bn) in share payouts last year, on top of the techies’ salaries, according to an analysis of stock market filings.

The tech industry’s elite all enjoyed increases in their share prices last year, helping them to displace former stalwarts such as Warren Buffett’s Berkshire Hathaway and Exxon Mobil as the world’s most valuable public companies outside China. Apple is ranked No 1 with a market cap of about $770bn, followed by Alphabet, Microsoft and Amazon, with Facebook at No 5 on $435bn.

The $20bn bonanza equates to $29,850 for each of the quintet’s 670,000 employees. Last year Britain’s bankers and insurance workers took home £13.9bn in bonuses, an average of £13,400 per employee.

Global industry pays more in bonuses across the world than the one country sector of a global business.

Next they’ll be telling us that Google paid less in bonuses in the UK than it did worldwide.

Writer’s Guild of America strike, saving the middle class

To read the Hollywood trades, we in the Writers Guild are somehow simultaneously aristocrats and agitators, overpaid radical dandies. One thinks of Dalton Trumbo jawing about Marx as he swills cocktails by the pool.

The reality is less romantic. I schlep my kids to public school in a Subaru full of loose Legos and half-crushed Goldfish crackers, then spend the rest of my day in a constant hustle, inventing and pitching in and out of writers’ rooms and producers’ offices. I love my job and I’m lucky to have it. But even after five years, writing on great shows and making work of which I’m proud, I have to worry about every paycheck. And my story is typical.

Yup, poor little writer

But the alternative was even scarier: the permanent end of the middle-class Hollywood writer.

Jeebus.

Their old contract gave them $60,000 minimum for a 30 minute script or $5,000 a week for working as part of a team.

Middle class…..kiss my hairy arse.

Not quite how I’d describe it myself

Jimmy Choo has put itself up for sale as part of an evaluation of its future.
The British luxury brand, which specialises in shoes and accessories, said it was to conduct a review of various strategic options to “maximise value for its shareholders”, including the possibility of a sale.

Because what is being said there is “We hope we can find some other bugger who values it more than we do”

As I said, everything United does will be suspect now

An engaged couple were removed from a United Airlines flight to Costa Rica on Saturday, as the airline remained under scrutiny following outrage caused by a video last week of a passenger being forcibly removed from a flight.

Seriously, everything trivial:

The statement from a United spokeswoman said the airline offered the couple a discounted hotel rate for the night, and rebooked them on a Sunday morning flight.

But Michael Hohl and his fianc, Amber Maxwell, told KHOU they tried to pay for upgraded seating and were denied, after finding another passenger sleeping across their seats when they were the last to board.

After moving within the economy cabin a few rows up, flight crew denied their request to pay a supplement for the seats, which United sells as “economy plus”, and told them to move back to their original seats, Hohl said.

“We thought not a big deal, it’s not like we are trying to jump up into a first-class seat,” Hohl told KHOU. “We were simply in an economy row a few rows above our economy seat.”

Bastard tax dodgers at Starbucks!

Just thought I’d get this in ahead of everyone else:

Starbucks, which came under intense fire in 2012 for the low amount of tax it pays in the UK, said it shelled out £6.7 million in total taxes last year versus £8.4 million in 2015.

Turnover also fell, from £405.6 million to £379.9 million.

Will you look at that the bastards! 1.8% tax rate. Outrage!

Our task, if we should care to take it up, is to find the idiots actually making that argument…..

United Airlines employs Vetinari to allocate seats

Canadian man stung by scorpion on United Airlines flight

And Vetinari thinks of his scorpion pit.

Something else now though. Not sure whether the dam’s been breached, we’ve just the necessary bolus of attention or whatever. But absolutely anything that goes wrong with a United flight is going to make the news for the next bit. Things which are common to all airlines will be flagged up if they happen on United.

And the thing is, there’re always things going wrong in an organisation that size. Not really sure than any large organisation will survive well the sort of scrutiny United’s going to get…..

Silly people

Seeking to quell the uproar over a man being dragged off a plane, United Airlines announced on Tuesday that it would refund the tickets for all customers who were on the flight when the man was removed and that it would no longer ask police to remove passengers from full flights.

The airline said that passengers on United Express Flight 3411 on Sunday would be compensated equal to the cost of their tickets and could take the compensation in cash, travel credits or miles.

If you’d offered just a bit more cash back then this would never have happened.

And why are you compensating those who did fly?

Some grand gesture probably is needed but this almost certainly isn’t it.

Someone has been digging, haven’t they?

Revealed: US doctor who was dragged off flight was felon who traded prescription drugs for secret gay sex with a patient and needed anger management because of ‘control’ issues
Married Dr David Dao was convicted of giving a patient drugs in return for gay sex and barred from practicing in Louisville, KY. He was allowed back after anger management and other counselling – which revealed his mental state. It said that he had ‘a pattern of deception’, ‘lacked the foundation to navigate difficult situations’ a ‘need to control, avoidance, withholding information’ and ‘magical thinking’. The doctor, a 69-year-old grandfather, has received sympathy from around the world in the wake of being dragged off the United flight from Chicago to Louisville by three police officers. One has been suspended. He has yet to speak about the incident.

Bet there’s a bonus on offer to that little investigator.

Oooh, yes, lots of bonuses

Dao joined the World Series of Poker circuit in 2006 and spent the next decade at the tables, earning him $234,664.

This United dragging the passenger of the plane thing

Once the flight was boarded, passengers were told four people needed to give up their seats for stand-by United employees that needed to be in Louisville for a Monday flight and the plane wouldn’t depart until they had volunteers, Bridges said.

Because employees of the airline were flying standby a randomly selected, full fare paying, passenger was beaten up and dragged off the plane.

…and the airline’s CEO on Monday called the incident “an upsetting event to all of us here at United.”

“I apologize for having to re-accommodate these customers. Our team is moving with a sense of urgency to work with the authorities and conduct our own detailed review of what happened,” United CEO Oscar Munoz said in a statement Monday.

You know matey? Fire absolutely every one of your employees involved in this, that would be a good start. Then perhaps yourself.

Sure, we all know, you’ve got to move employees around on the network to get them to where they need to be the next day. But really, sirsly?

Fun Warren Buffett quote

When you get rid of the estate tax, you’re basically handing over command of the country’s resources to people who didn’t earn it. It’s like choosing the 2020 Olympic team by picking the children of all the winners at the 2000 Games.

The thing is, given genetics, the Olympic method would probably work quite well.

Money making not quite so much of course.

Hmm, so, did they?

New questions are emerging over Barclays’ rescue fundraising in 2008 as the Serious Fraud Office and the Financial Conduct Authority extend their inquiries into the deal.

Court documents filed in a civil case related to the £7.3bn injection from Middle Eastern investors have drawn attention to a separate transaction at around the same time.

Barclays lent £2bn to Qatar just weeks after the announcement of the role played by the Gulf state’s principal investment vehicle in the bank bailout. The debt component of Qatar Holding’s investment was for the same sum of £2bn.

Was that money just round tripped? Be fascinating to know…..

The point being that the bank needed capital. It had pots and pots of dosh, of deposits. But it needed capital.

So, lend some of the deposits which then come back as capital…..terribly naughty if that’s what they did do.