Return of the Robber Barons

Will Hutton has a column in today’s Guardian, GKN will be stripped and sold for parts by ghouls who have no interest in making things. The column, on the proposed takeover of GKN, is an attack on the Mergers-and-Acquisitions business reflecting a total lack of knowledge of it.

Miller’s is a capitalism organised entirely around extracting rather than creating value.

Listen. Garage start-up businesses innovate. Small businesses scale up and hire like crazy. The next step — in increasing efficiency — is for an established business to buy the company and figure out how to do the same job with fewer people.…

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The Delightful Irony Of The GKN Takeover

Something that amuses about the attempted takeover of GKN. That being that the company has grown itself through a series of takeovers covering a couple of hundred years. It’s more than a little rich for them to be claiming that a company shouldn’t be taken over therefore:

As the takeover deadline looms, MPs and unions voice fears for Britain’s industrial future if the deal is allowed to go ahead

Airbus has said it won’t be able to offer GKN new work if it can no longer guarantee long-term investment in R&D.

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