Clever fox
The economic folly and the paradox of the continuing struggle by the unions for what they call 'parity' and in the same breath what they call 'differentials' reminds me of a clever fox of a financier who once employed me.
He was planning to make a takeover by share exchange for another company some- what larger than his own and took me with him on a trip to persuade a well-known moneybags to provide the cash alternative that was needed. Agreement was finally reached for a fee of £100,000 in the event of the deal going through but only £1,000 as a commitment charge if for some reason no bid was made.
On our way back to London I expressed some astonishment at the size of the fee for relatively little risk, to be told by my boss in his fractured mid-European : 'My boy, long ago I learnt not to worry what the other man is making if I'm all right'. A lesson for Fords, perhaps?
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