Ladies and gentlemen, the ever reliable Grauniad…
The rebuttals are now in and they are clear “absolute bollocks” from Milburn and “work of fiction” from Milband. If this is the Brownies being clever it is idiotic, it was written by journalists known to be sympathetic to Gordon. Rosa should really go back to the Mirror, she is trying single-handedly to stand up her story today with not a single on the record quote. Laughable. Sooner or later the Barclay brothers will realise their newspaper’s brand and culture is being destroyed – along with the profitability.
UPDATE : Rosa is denying all the suspicions on the Labourgraph blog.
The Telegraph quoted Grant Thornton’s senior tax partner Mike Warburton saying: “Guardian Media Group has enjoyed a tax holiday courtesy of some very helpful rules introduced by their friend Gordon Brown. They are taking full advantage of the relief legally available to them, which all businesses should do. That’s fine, but don’t knock people who do exactly the same.”
This is almost as much fun as Polly hypocritically banging on about airplane carbon emissions before hopping on a flight to her Tuscan villa. See Richard Littlejohn’s fantastic bitch-slap here…
GMG Execs’ Salaries Revealed
The Guardian editor-in-chief, Alan Rusbridger, received total salary and benefits of £401,000 in the past financial year…
Which is odd because the annual report released this morning says Alan Rusbridger gets £401,000 in salary/fees and benefits in kind* plus £143,000 employer’s contribution to his pension. A total of £544,000 as reported on this blog this morning…
*The benefit in kind is not what you think, she denies it. Guido believes the minx.
Guardian News & Media (GNM), publishers of the Guardian and the Observer increased operating losses to £26.4m. The parent owners GMG would also have reported operating losses of £24.8 million were it not for the £334.8m sale of a 49.9% stake in Auto Trader, to Ronnie Cohen’s evil capitalist private equity vultures, Apax Partners. The online arm’s separate Guardian Unlimited identity has been dropped (it was more unkindly known by some as “Guardian Unlimited Losses”).
Incidentally the annual report reveals they paid £15.3 million in taxes last year despite claiming a group profit before taxation of £306.4 million after the sale of Auto Trader. GMG have always been adept at using the Scott Trust and other dodges to minimise tax charges. Guido congratulates them on achieving an effective tax rate 4.99%. Remember that the next time Polly Toynbee calls for higher taxes and everyone to pay a fair share.
Controversial Smith Institute trustee and Chairman of the Guardian Media Group Paul Myners warned: “We expect the uncertainty within the UK economy to have an impact on a number of the group’s revenue streams in the coming year.” Translation : we will lose more money next year.
Incidentally, Guardian editor Alan Rusbridger got by on a total compensation package of a mere £544000 up from £473,000 last year. A 15% increase as a reward for losing £26.4 million – no belt tightening for him.
Handy having your friends, rather than shareholders, decide your pay isn’t it?
Wouldn’t be a great leap of the imagination for them to come up with the “nick his bike” wheeze – would it? This is the paper that put faked up photos of British soldiers abusing Iraqi prisoners on the front page…
NEW YORK (Standard & Poor’s)– Standard & Poor’s Ratings Services today placed its ratings for The New York Times Co., including the ‘BBB-‘ corporate credit rating, on CreditWatch with negative implications.
Just in case some old hacks from the non-profit sector of journalism don’t understand what that means, Guido will spell it out slowly – the “Gray Lady” is going to non-investment “junk” status. J – U – N – K. 98 Pulitzer prizes, “All the news that’s fit to print” and they are trying to cut costs to survive. Blogalypse.
The Dead Tree Press is a dead industry walking. It is not a twenty first century business model: slaughter half a forest of trees, pay NUJ rates for news gathering, sub-editing, laying out, employing friend’s children, transferring ink onto aforesaid trees, then pay people to work all night sending the slices of dead trees around the country in the dark on lorries. Finally when you get to the point of collecting some money, split the sales revenue with the people who take the money. It is laughable.
Last year the Guardian, Independent and Telegraph all lost money, there is a good chance they will repeat the feat again this year. That is not business, that is vanity publishing.
Does Europe Really Want Britain to Quit? | Nick Wood
Immigration Nation | Hopi Sen
Tories Choose Anti-Israel Candidate in Rochester | JC
Osborne’s Daycare Obsession is a Time Bomb | Kathy Gyngell
BBC Marr Pinko Trying to Ban the Queen | Speccie
Eric Hobsbawm: Companion of Dishonour | Standpoint
Guido Party Gossip | Iain Dale
Russell Brand Comes Out as 9/11 Truther | Guardian
Health Revolution is Underway | Fraser Nelson
UKIP Gets Professional | Red Box
Kelly Tolhurst Wins Rochester Open Primary | BBC
Austrian Chancellor Werner Faymann on Cameron’s refusal to pay the £1.7 billion EU bill by December 1st:
“Well, then he’s gonna pay on December 2nd”