Saturday, 12 March 2011

Fred Goodwin and the Praying Mantis

The world's most incompetent banker, Fred Goodwin, the man whose gross stupidity led to 20,000 job losses at RBS and a £20,000,000,000 bail-out from the British taxpayer, has been recruited by upscale architecture firm RMJM to promote the business overseas. RMJM has linked up with Will Allsop and the company's website describes a new Greek commission - a steel-ribbed building in the shape of a praying mantis.


Although there is no suggestion that the building's design is either a tribute to Goodwin's rapacity or a comment on the rape of the Greek economy by bankers such as Fred Goodwin, RMJM and Allsop must surely be sensitive to the associations that Fred will bring to the project. RMJM have declined to disclose how much Goodwin is being paid, but it is unlikely to be close to the £4.2m he paid himself in 2007, the year before his culpable ineptitude destroyed one of Scotland's oldest banks. 


UPDATE: Fears are growing that RMJM is going down the crapper. After HK based Principal Architect Catherine Siu recently penned a 900 word tirade against CE Peter Morrison, who hired Goodwin, and pressed 'Send to All', a senior architect at the NJ office in the US has walked out last week after berating Morrison in a widely circulated email. the row came after RMJM again failed to meet payroll; the complaint said "The fact that you have chosen to delay payroll, 401k and consultant payments to the US offices again after the recent Hong Kong fallout shows that you continuously do not value your US clients or employees. This pattern is destined to failure, and you should know that your decisions have had a severe negative impact on the families of your employees." The Curse of Fred?
(Source: BD Online 8/3/11)

3 comments:

Anonymous said...

Whilst we're talking of useless tossers filling their boots, let us not forget this twat..........Adam Applegarth, who sold his shares at the top of the market, knowing the Crock was going tits up and all the same time encouraging new customers and business.
Truly a sh*tbag, a pension pot of £2.5m and a £750k pay-off, not bad for a teller, playing cricket into the sunset, how do they sleep at night?

English Pensioner said...

Yesterday's Daily Telegraph reported that "Fred the Shred" had obtained one of these secret injunctions banning publication of information about him, this information being released by an MP under parliamentary privilege.
I just wonder what happens if one breaches an injunction that one knows nothing about?
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8377716/Gagging-order-by-Sir-Fred-cannot-stop-net-chatter.html
Expect lawyers to call on you sometime soon!

Raedwald said...

EP - If I am served with an injunction, I will of course comply with its terms immediately.