Business Diary: July 27

IF Labour feels so strongly about supporting Sheffield Forgemasters with a taxpayer loan of 80m, then why did it sit on the deal for more than six months and wait for the critical weeks leading up to the General Election?

Probably because Lord Mandelson, then Business Secretary, wanted to generate some political capital in an electoral heartland. Subsequently, the coalition's decision to axe the loan can easily be seen as an act of political spite.

The sight of politicians from all parties squabbling over who said what and when is wholly unedifying, but not at all surprising.

This story should serve as a salutary lesson for all businesses. Don't do deals with politicians, whatever

their hue.

Danger signals

ANOTHER lesson from the credit crunch – beware small businesses that make a lot of profit. This latest nugget comes from the chief executive of York-based Aviva Life UK.

Toby Strauss revealed the useful rule of thumb in a conversation about how, with the exception of AIG, insurance firms have not needed any taxpayer-funded bailouts since the financial crisis.

He said: "AIG had to because of a line of business they were writing which did not have a lot to do with being an insurance company, which was their credit default swap business.

"They basically had a small business which produced a lot of profit, which is always a danger signal – just look at Barings.

"My learning from all those situations is if you ever have a relatively small division of your business producing a very large amount of money, you want to look very carefully at why it is and what would happen the other way round if it unwound."

Greg takes a bow

CHRISTMAS has come early at a Yorkshire company, where the managing director is proud of his Scrooge-like qualities. In fact, he has a gong to prove it.

Greg Adams has a double life. By day, he's managing director of office supplies business, AB Copyright, based in Hipperholme, near Brighouse.

By night, he's a devoted thespian. In fact, his interpretation of

master miser, Ebenezer Scrooge, in Fulneck Dramatic Society's December 2009 production of Charles Dickens's classic tale, A Christmas Carol, has just won him the Best Actor award at the Wharfedale Drama Festival.

It's not the only award he has picked up recently. AB Copyright has just picked up a bronze in the Superstat Best Stationery Company award.

"They say that things come in threes," said Mr Adams. "And

that's proved to be the case with Scrooge. He's visited by three

ghosts representing the past,

present and future. AB's latest Superstat award is our third and it's the third time I've won an acting award at the Wharfedale Drama Festival."

Thinking big

THEY are often portrayed as the villains but a new book argues that some leading global companies are among the visionaries when it comes to tackling poverty, addressing climate change and protecting human rights.

Big Business, Big Responsibilities aims to share the inside track on why some of the world's best known brands are addressing global challenges as a core part of business strategy.

However, the book, which is written by Andy Wales, Matthew Gorman and Dunstan Hope who between them have 30 years' experience leading sustainability, acknowledges there remains a great deal more to do if goals are to be achieved.

It recommends big businesses collaborating to make a difference in the world. A piece of idealistic realism or a pipe dream?

Smooth operators

CALLING all firms with amusing names. This week one of our moles in South Yorkshire spotted a banner for a firm of painters and decorators called, wait for it, Evenhand & Fairest. Can anyone beat this?

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