Wednesday, October 22, 2008

Burying the bad news

Home Retail warns of tougher times to come

I suspect we'll start seeing this kind of results reporting in the next couple of weeks. All the bad news companies have been burying for a while will suddenly come out with the bosses washing their hands and moaning about the current economic climate.

"Oh no, the business I bought for £900m is now worth less than half? Damn this credit crunch!"

Not my job to go through these reports but I suspect that there'll be a lot of extremely pessimistic write downs that will be miraculously turned into profits next year.

The Chief Execs who wrung their hands at the evil global markets today will then take all the credit for their cunning skills in turning their loss last year into huge profits. They'll then hit their targets and make loads of bonus money.

Good work if you can get it!

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