Business Diary: February 16

LAWRENCE Tomlinson, the owner of the racing cars-to-care homes conglomerate LNT Group, is worth a cool 300m.

George Osborne, the shadow Chancellor, paid a visit to the Garforth business's headquarters last week to tour the factory and learn about Ginetta's electric car.

Diary asked Mr Osborne if he would be looking for a donation

to the Conservative Party's coffers. Mr Osborne, laughing nervously, countered: "Lawrence Tomlinson isn't even here. I'm not here to talk about donations."

United in secrecy

THEY fly the flag for God's Own County in their professional lives, but several cricketers at Yorkshire County Cricket Club are harbouring a secret.

Anthony McGrath, director of professional cricket Martyn Moxon and chairman Colin Graves, who runs the Costcutter group, near York, all support Manchester United.

Former Yorkshire cricketer Michael Vaughan was also a fan.

Mr Graves, who has a signed Manchester United football in his office, told Diary: "Everyone always asks how a Yorkshireman can support them but I've followed the team ever since I was a boy. It doesn't stop people taking the mickey, though."

Olympic challenge

THE credit crunch, financial crisis and recession have hit all of us, albeit in different ways. The organisers of the 11.5bn London 2012 Olympic Games have seen both positive and negative effects.

John Armitt, the chairman of the Olympic Delivery Authority, said: "The biggest impact of the credit crunch was that we had to fund publicly the Olympics Village and Broadcasting Centre. Originally, private-sector companies were going to build them, make them available and sell them afterwards.

"On the positive side, in terms of procurement, inflation has been less, which has helped us to save some money in the budget."

Power failure

FOR all the talk of a green revolution taking place in the UK energy industry, much of it amounts to little more than hot air, according to Neil O'Brien.

The chief executive of Alkane Energy plc, a fast-growing gas to power company, said: "There's lots of people talking about things, windfarms being the biggest area, biogas; there are lots of assets being quoted for, but has anyone started to build them or start operating them? Very, very few have."

Mr O'Brien added: "In terms of significant commercial biogas sites, there are fewer than 10 in the UK at the moment. The Department of Energy has said there are going to be 1,000. Well, we should be building one a week across the industry."

Alkane Energy operates 25 engines across nine sites, including some in Yorkshire, which produce 35 megawatts of clean electricity.

Value of money

WHAT price a trio of top hedge fund managers?

Would you believe they were worth more than the entire population of York?

You don't have to take Diary's word for it.

There were gasps around York Minster when the BBC's Business Editor Robert Peston described the incredible salaries commanded by some of the leading lights of the financial world.

As if to prove that business journalism is the new rock 'n' roll,

Mr Peston attracted a capacity audience of 1,300 people to

York Minster for the Ebor Lecture.

The lecture series, which is organised by York Minster, York St John University, York Institute for Community Theology, The Order of Carmelites and the Churches Regional Commission for Yorkshire and the Humber, aims to improve links between Christianity and the world of business.

During his speech, Mr Peston warned of a slow and painful reduction in our debts, which could lead to years of low growth.

Banks must re-enter society, he argued, and be brought back into

the real world.

He added: "The financial priests must speak a language we understand and must engage with us.

"We may need new global institutions to democratically fix global problems – from climate change to unstable financial systems. The pay of three hedge fund managers equals the pay of 150,000 York adults."

The top three hedge fund managers collectively pocket more than 3bn a year and enjoy a lifestyle far removed from most of the people of York.

At best, Mr Peston warned, we are only one third of the way through fixing capitalism following the financial meltdown of late 2008.

He added: "Debt can be a liberator, a promoter of social and economic mobility, but surely we should re-learn the virtues of thrift and paying our way?"