Minggu, 28 September 2008

Nationalisation of failing businesses

A private business which is part of the community and on which many tens or hundreds of thousands of people rely is suffering a very poor run. The people are concerned. If this business fails then, apart from the job losses, there will be a loss of confidence in the rest of the industry. The owners and directors, who have been accused of mismanagement by some, are keen to sell. But there is no white knight willing to ride to the rescue. Potential suitors are worried about what they might uncover when they arrive and what the costs of turning around the operation might be.

So is the answer to nationalise Newcastle United?

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