Bankers Bonus for Kevin Maguire

Kevin Maguire is a banker-basher extraordinaire – scroll through his tweets and he’s never leaving those “nasty bankers” alone, his Mirror column forever bangs on about the Tories being “banker’s friends” who are “out of touch with the public”. Well this morning our Kev’ and the Mail’s Andrew Pierce are entertaining clients at a BNP Paribas “Capitalise International Investment Special” event in the City. His hosts and new friends are the bank’s global CEO Thierry Laroue-Pont and UK CEO John Slade, and the discussion is being chaired by UK Executive Director James Max. Better canapés than at Labour conference?

Dave Gets His Daily Dose

Another happy reader – Dave shares with the House the news, as revealed by Guido, that the BBC, Mirror Group, and Guardian have all been using offshore investment funds. Sign up to the Guidogram here to get your daily dose too… 

Look in the Mirror: Millions Held Offshore

“David Cameron has behaved like a chancer over offshore funds,” blasted the Mirror’s leader on Friday: “Voice of the Mirror says hard to believe the PM will end the use of offshore financial hideaways by the filthy rich when he is cut from the same cloth”. What the Mirror didn’t tell its readers is that their paper is also “cut from the same cloth”…

When Trinity Mirror tried to raise funds by issuing new shares to investors, it set up TM Finance (Jersey) Ltd, a “special purpose vehicle” to collect the proceeds offshore. Trinity Mirror’s annual report discloses the existence of “The Trinity Mirror Employee Benefit Trust”, a pension scheme whose beneficiaries could well include Mirror employees like chief offshore critic Kevin Maguire. Is it really Mirror Associate Editor our Kev’s trust? Appleby Global (Jersey) Ltd administer the Mirror’s offshore millions boasting: “Our fiduciary operation in Jersey has provided a broad range of offshore fiduciary and administration services… Our clients include high net worth private individuals and families along with an enviable array of global and UK businesses, such as… Trinity Mirror”. Please, tell us more about those “offshore financial hideaways”…

Then there is the Trinity International Restricted Share Plan, administered by Barclays Wealth Trustees (Guernsey) Ltd, another offshore trustee. Mirror, Mirror against the wall, who is the most hypocritical of them all?

UPDATE: Our Kev says “not me guv”.

Mirror Spikes Unite’s Zero Hours Contracts Story

mirror image oopsThe Mirror has long railed against zero hours contracts. No surprise then, that when Britain’s biggest union was being sued by a former employee after they kicked off over their own alleged zero hours contract, The Mirror was on the scene:

Google picked it up:


Shortly after the story went to pixel, it mysteriously vanished. Surely that was nothing to do with Unite sponsoring a weekly column in the paper? Did Len McCluskey monster The Mirror, or are they just staying Unite-d?


Alas SunNation, We Knew It Well


Farewell SunNation, the Sun’s outside-the-paywall experiment with a blog format has now gone with the raison d’être of the paywall. This again brings into focus the future of tabloids now it has been established that in the age of social media paywalls for popular papers are counter-productive. As far as Guido knows no mass market tabloid in the world has successfully made the transition to a digital model.

Digital first sceptics point out that for all the traffic success of Mail Online and The Guardian, they don’t really make much profit. In the case of the digital Guardian they make no profit. That is because undifferentiated general traffic does not command a high premium from advertisers. Also free online versions inevitably cannibalise the print readers…

Digital first optimists argue that there is no choice other than to deliver content where people increasingly want it, to their phones and tablets. And deliver it fast and first if you want to succeed. 

How will we make any money ask the digital sceptics? If paid subscriptions don’t work for tabloids in the digital era will it be Buzzfeed style advertorial? Video ads? Product placement? The digital first optimists point out that tabloid print sales are collapsing and soon they won’t make money either…


The Mirror is contemplating a cut-price, slimmed down version of the paper along the lines of the i, The Independent’s successful cut-down version. The more successful print innovator is actually the London Evening Standard, London’s now free high-quality evening paper is brimming with advertising. Could a tabloid thrive on advertising revenue alone? Metro and City AM show that advertising-only supported papers can be viable. It is possible that a national could go free, double or triple circulation, and suck up more than enough advertising to make up for the lost cover-price revenue. Guido noticed that last weekend the Sun on Sunday was distributed free in some places in Ireland…

Mirror Apologise to “Sick Nazi Salute” Kipper

Back in 2013 the Mirror splashed on UKIP’s Alex Wood “giving a sick Nazi salute”.  Many others saw a bloke reaching to grab the camera-phone with his left-hand – which was exactly what he claimed. The story drove the lefty Twitterati wild with glee, confirming their prejudices about UKIP being a bunch of racists. Today the Mirror say in a statement:

“In print and online articles in April and May 2013 we said that Alex Wood, who was standing for UKIP in the May 2013 local elections in Somerset, had been photographed making a ‘Nazi salute’. We also said that he had made racist comments on Facebook.

We now accept that these allegations were wrong and there is no reason to believe that Mr Wood is a racist or a Nazi. The photograph, one of a series of photographs appearing on his Facebook page, was taken out of context. Mr Wood was reaching out to stop a friend taking a photo on a mobile phone. The comments on Facebook purportedly made by Mr Wood were not made by him and the police have confirmed that they were not made by Mr Wood.

We apologise to Mr Wood for the allegations made and any hurt and distress caused as a result. We hope this apology will go some way to repairing Mr Wood’s reputation.”

Despite UKIP vehemently denying the claim at the time, it only took ’em two years to say sorry…

All those who were quick to pile in at the time will be following the Mirror and Mehdi’s mea culpa, right? 

Burnham Train Derailed: Renationalisation Spin Unravels

Andy Burnham got the headlines he wanted this morning: the Mirror dutifully report he “promises to renationalise the railways if he takes power” on their front page. Rival Labour camps are quick to point out that Burnham’s plan has been lifted “word for word” from Ed Miliband’s manifesto, which pledged:

“Labour will legislate so a public sector operator can take on lines and challenge private train operating companies on a level playing field… We will end the situation where the only public sector that cannot run our railways is our own.”

“It is hardly the big, bold new policy it was promised to be,” says a spokesperson from the Yvette campaign.

What’s more, Labour sources point out that 90% of rail franchises expire in the next 5 years and won’t be up again until 2030. Burnham has confirmed that his policy is not immediate compulsory renationalisation, merely letting the public sector bid when franchises expire:

So even if he was to become PM in 2020, the policy wouldn’t come into effect for some ten years of Burnham governments. Almost as if it’s just an empty headline grabber to take Corbyn votes…

Top Mirror Hack Nicked in Canary Wharf Raid

The Mirror’s pugnacious ‘Head of Agenda’, Lee Harpin, who was heading up the paper’s election coverage, is lifted in a police raid on their Canary Wharf offices:

The tenth Trinity Mirror journalist to be arrested. He’ll be harpin’ on about this one…



Who’s ya friend Ed?

Mirror Slashes Costs As Hacking Cases Loom


Trinity Mirror are doubling their planned cuts to £20m in an effort to remain in the black as print revenues fall and hacking payouts loom large. Expect to see more dead wood such as the recently axed digital projects Ampp3d and UsVsTh3m cut from the sinking ship…

By Guido’s calculations, £20 million is enough to pay off 133 hacking victims.[…]


Investors Dumping Mirror Shares


After the higher than they hoped damages awarded to Mirror phone hacking victims last week the struggling newspaper group admitted that “costs of settling claims is likely to be higher than previously anticipated we are increasing our provision to deal with matters arising from phone hacking by £16 million.[…]


Mirror Faces Massive Hacking Payouts


Mirror Group Newspapers have been ordered to pay out £1.2 million to eight phone hacking victims following a three week hearing at London’s High Court. The payout, averaging £150,000 per victim is worrying news for the Mirror who had one single reporter hack around 400 phones. […]


UsVsB3lam: Former Journos Locked Out of Mirror Twitter

Last week when the Mirror canned their internetz projects all the online hacks claimed they weren’t being fired, rather things were just ‘under review’. Well it looks as if that review has now concluded:

They finally have the answer to who’s us and who’s them…[…]


Mirror Shutters Ampp3d, UsVsTh3m and RowZed

Mirror sources say staff working for their ill-fated online ventures, Ampp3d, UsVsTh3m and RowZed, are being made redundant. The operations will be closed immediately and staff have been told that the paper will try to find new roles for them. Apparently upstairs thought they were shi*e…

Martin Belam the founder of the titles boasted in a statement:

I’ve had the most amazing fun over the last couple of years.



Media Standards Trust Research Finds Mirror Most Partisan Newspaper


The Guardian supported Media Standards Trust has released research which is remarkable. The twitterati left have been making an issue of the treatment of Ed Miliband, the reporting of his nose picking and inability to eat a bacon sandwich or exit a TV stage without tripping up particularly vexes lefties who want reporting to be about boring issues rather than character.[…]


Piers Morgan Questioned By Hacking Police Today

Piers says in a statement to the Guardian:

“Some time ago I was asked to attend an interview with officers from Operation Golding when I was next in the UK. 

This was further to a previous voluntary interview I provided in December 2013.



Corrections and Clarifications: Brooks Newmark Sting

Over a period of six months, Media Guardian campaigned to stitch up the Sunday Mirror, consistently falling short of the journalistic standards it sets for others. In an extraordinary series of factually incorrect articles, Roy Greenslade alleged that “at least seven other Tory MPs were also offered similar lures” in “a giant trawl“.[…]


Tip offs: 0709 284 0531

Quote of the Day

Trump jokes about media bias…

“The media is even more biased against me than ever before. You want the proof? Michelle Obama gives a speech and everyone loves it. It’s fantastic. They think she’s absolutely great. My Wife Melania gives the exact same speech! And people get on her case! And I don’t get it! I don’t know Why!”

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