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Star's praise: Jason Leonard applauded the "good rugby" played at the tournament - but was he also referring to the try-scoring streaker?

Is Frankie really on a winner?

27 May 2009


Just how well is the much-vaunted partnership of chef Marco Pierre White and jockey Frankie Dettori doing? They're good chums and they're partners in Frankie's Bar and Grill, the restaurant chain that has had, ahem, somewhat mixed reviews. It must be said City Spy has never quite got the connection between a jockey, who presumably has to mind his pasta and salad, and the promotion of food, but heigh-ho. Still, possible clues as to the state of the business come from the surprise non-appearance of the Frankie's concession at Newmarket racecourse for this year's recent Guineas meeting and the latest set of figures at Companies House. Marco and Frankie are shareholders in two companies, MPW Parisienne Restaurants and The Putney Restaurant (Frankie's has a branch at Putney), although Dettori is a director of neither. They show creditors of more than £2.5 million. These are historic accounts, so of course, they could have improved, or there again, they could have got worse. Hmmm...

* TESCO watchers might like to peruse the retailer's just-published annual report with interest. The fulsome praise heaped upon Laurie McIlwee, 46, the new group finance director, by the chairman David Reid, fuels the suspicion that he is now the front-runner for the top job when Sir Terry Leahy finally goes. McIlwee's experience in both finance and operations is emphasised, as is his "tremendous achievement" in "transforming" Tesco's distribution network.

* WHAT'S notable from the Tesco review is what is not said. There is no tribute to Carolyn McCall, who resigned from the board last year. She went because she is chief executive of Guardian Media Group, and Tesco was embroiled in an ugly legal spat with the Guardian over coverage of its tax affairs. The fact that as chief executive she was in no position to interfere with the paper's editorial line (such things are sacred at the Guardian) clearly cut no ice with her board colleagues in Tesco's Cheshunt bunker.

* IN a Q&A with Leahy in the company review, the chief executive describes Tesco's Fresh & Easy venture in the US merely as "very good "

BarCap balloon is grounded

PITY the poor aircraft-finance team at Barclays Capital, who over the years must have contributed significantly to the tens of millions of dollars in bonuses paid to their boss Bob Diamond. Alas, they're now the laughing stock of their parish.

At the Ebace private-jet industry junket in Geneva, Credit Suisse, Société Générale, Fortis and Bank of America all took high-profile stands at the centre of proceedings, dispensing G&Ts with aplomb. Over in a remote corner, meanwhile, were the BarCap team with none of the plush fittings of their rivals and with a forlorn Barclays Capital balloon attempting to attract attention.

One of the Barclays bankers was heard to mutter darkly: “The marketing department has been a little mean with the budget.”

* ANYONE offering odds on the likelihood of Shell exploration and production boss Malcolm Brinded being in office in six months? Word is Linda Cook won't be the only unsuccessful contender for the chief executive's role to “resign” before Peter Voser takes the top job in July.

* CITY SPY doesn't want to be a killjoy, and wishes South Africa all the best for next summer's football world cup. But there are worrying words from security giant G4S's chief executive Nick Buckles about it.

G4S, which has run security at many major sporting events and is pitching for the 2012 Olympics, didn't want to get involved in South Africa. “We don't think the security is going to be that good. They're not that well organised yet,” says Essex boy Buckles.

This in a country where around 50 people are murdered every day. G4S has a sizeable business there, running security vans and the like. On average, two employees are killed each month. “They get attacked by 16, 17 people at a time,” Buckles says. “It's a tough place to do business.”

* TORY MP Sir Peter Viggers is self-deprecating about the Treasury Select Committee he sits on. “We are all either wannabes, has-beens or utterly useless,” he says. “I am a has-been.” After claiming £1645 of taxpayers' money for a floating duck house, he most certainly is.

Sevens heaven — and a nice try at a joke...

THE property world may be in turmoil, but it did little to dampen spirits at the Surveyors Sevens tournament in Richmond. Amid the usual drunkenness and streaking, the real estate team of Dutch bank ING emerged victorious for the first time, beating RICS Matrix 12-5 in the final. Given the number of job cuts at many of the firms taking part, the joke was how lucky it was seven-a-side and not the full 15.

* FORMER England star Jason Leonard was impressed with what he saw. “There has been some good rugby played by people of all shapes and sizes,” he told Estates Gazette. Was he referring to the streaker who ran on to the pitch and scored a spectacular try during the final?

* HELEN Weir, the retail banking chief at Lloyds Banking Group, has decided to stand down as part-time, non-executive director of the Royal Mail. She cites a potential conflict of interest over the Post Office's march into financial services. It's odd it's taken her so long — the Post Office has been calling itself the People's Bank for ages. However, as her employer, we taxpayers might in any case expect Weir to get on with the day job and concentrate on getting back some of our money.

* PAWNBROKER Albemarle & Bond is so confident the recession will carry on for some time yet that it is looking to add to its network of 114 branches for cash-strapped customers to flog their valuables. So much for green shoots and recoveries.

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