Lai See
An embarrassing and unfair 'attack'? Lai See doesn't think so
It's good to see that the age of chivalry is alive and well, at least in some quarters. Nick Footitt rang up yesterday to defend his wife's honour, which he felt had been unfairly assailed in our piece yesterday about her involvement with Prada's fashion show and analyst's meeting with Miuccia Prada. His wife is Diana Footitt and the Prada evening was the first major event for her new public relations consultancy, Artemis Associates. 'You have caused her considerable embarrassment,' he fumed. 'It was most unfair, all her friends are rallying round - I am shocked,' said the husband, who is also in communications for a big American investment bank.
We pointed out that our interest had been piqued by observations from journalists that she had appeared somewhat bossy in the way she dealt with the press. Looked at it from another perspective, or to put the boot on the other foot - no pun intended - you could say she was only doing her job. Calling the piece 'an attack' is bit of a stretch. Maybe he should get out a bit more.
Shareholder's appetite impresses
Henderson Land's AGM at the Four Seasons Hotel was a humdrum affair. So when one elderly Chinese gentleman stood in front of the assembled press at the end of the meeting, he had their attention. 'There is something I want say,' he announced. So was there a disaffected minority shareholder story here - some issue of corporate governance, we wondered?
'I am looking for some dim sum,' he announced. Shareholders on entering the AGM were given a pink ticket which entitled them to take away a box of dim sum at the end of the meeting. 'I've got my pink ticket but there isn't any left,' he told the assembled journalists. There is more. 'They told me to come back tomorrow. But if I turn up tomorrow that makes me look cheap.' Finally, one of the company's public relations staff made arrangements for him to get his dim sum the same day. Such is the power of the press.
Land auction goes with a bang
There's nothing like a good land auction to get people going in Hong Kong. The atmosphere in Queen Elizabeth Stadium was expectant as the bidding started for the first site in Borrett Road. Although no records were set, the prices were high enough to maintain the sense of occasion. There was also brisk bidding for the second site near Yuen Long. But ten minutes into the bidding, a sound like a shot rang out. But it wasn't people trying to settle the outcome by more traditional means. It was a light bulb popping. There was a momentary pause but the auction continued regardless.
Wheatley saves best for last
We were intrigued to see that Martin Wheatley, the outgoing chief executive of the Securities and Futures Commission, was quoted in The Wall Street Journal as saying 'China is the new dotcom of the investment world. Everybody wants a piece of China,' he said. 'Therefore there has been a rush to Chinese companies, without investors asking 'the normal questions'.' By SFC standards this is bold, even outspoken stuff. It is interesting to hear regulators making these kinds of remarks. But you have to wonder why he leaves it to his last day in the job to do so. The question is rhetorical, since we all know the answer.
It is not politic to be critical of Chinese companies in this way, not if you want to stay in the job. But it doesn't say much for Hong Kong's much vaunted regulatory environment when the top regulator feels it's only safe to say these things on his way out.
Perfect time for an 'ambush'
HSBC has such a way with words. Albert Chan, the head of HSBC's commercial banking in Hong Kong, is speaking at a Productivity Council event today. In a note to journalists, an HSBC PR person says Chan will be available for 'media ambush' around 2.45pm. We know they are just trying to inject a little excitement - but let's hope someone turns up for that 'ambush'.
Brewery deal goes flat
Who needs investment banks when you've got Facebook and Twitter? The Associated Press reports that two advertising executives using the websites found five million people who said they would invest US$200 million of the US$300 million needed to buy the iconic Pabst Brewing Co.
However, before they had collected any money the US government pointed out they had neglected to register the share sale with the Securities and Exchange Commission - a violation of federal law. The sale of shares has been suspended. Shareholders had been told that once US$300 million had been received they would receive a certificate of ownership and beer equal in value to what they put in.
