Market crisis: the Real Business bargepole ten

by Stuart Rock - Friday, 10th October 2008 -

The market crisis has some big losers. Here are ten jobs I wouldn't touch with a bargepole. (And nor should you.)

Straight in at number one in the Bargepole Ten:

1. Geir Haarde, Prime Minister of Iceland
He's got three degrees in economics - but they aren't coming in that useful in a country with a national debt that is ten times the size of its economy. And he's being pursued by an angry Gordon Brown.

2. Any estate agent, really. But particularly not Foxtons or their private equity owners BC Partners. Er, what was that about buying at the top of the market?

3.Naomi House children's hospice. More than £5m stuck in Icelandic accounts.

4. The FDs of Transport for London and numerous county councils. Same Icelandic problem. The Guardian has got the full list here.

5. The developers of Birmingham Canal. According to property website mouseprice.com the development tops the list of city centre flat disasters after a 17.3% drop in the value of homes in the past year.

6. Sir Fred Goodwin
Here's your choice. Accept the Government's rescue funding for the bank that you head up - and get the sack. Or jump now.

7. Willie Walsh, CEO of BA. The airline has halved in value in less than a month. And BA still can't stop being irritated by Sir Richard Branson.

8, 9, 10. Peter Walker in The Guardian provides three others:
Robert Tchenguiz, for losing £1bn in 24 hours
Olympic drugs cheats
David Bentley, currently looking overpriced at Tottenham.

Actually, being a Spurs or a Newcastle fan probably qualifies this week.

Or an Icelandic taxpayer.

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