Heron's Eye: 14/01/09

Minister criticised for 'green shoots'
"A government minister was attacked by opposition party members today after she said she could see the "green shoots" of an economic recovery.

The comments by business minister Shriti Vadera come as news that nearly 14,000 jobs have been cut or put at risk this week. Barclays, Jaguar Land Rover and Pfizer are the latest companies to announce hundreds of job losses." [Guardian]

Northern Rock investors tell court they were cheated
"Former shareholders in Northern Rock yesterday accused the government of cheating them of compensation when the bank was nationalised last year.

In the high court, lawyers representing the two largest shareholders argued that the government had unfairly rigged an independent valuation of the bank to ensure investors would end up with next to nothing." [Guardian]

Simon Hoggart's Sketch: Short-selling sermons as God takes on Mammon
"In the House of Lords it isn't always Labour against Tory. Yesterday it was God v Mammon. There was no vote, but I'd say that the mood of the house was largely with God. The archbishop of York, John Sentamu, had asked a question about the short-selling of shares. He has form. In a speech last autumn he described the people who had been short-selling against HBOS, and nearly ruined it, as "bank robbers".

Up against him, representing Mammon, was the new Treasury minister Lord Myners. It was a tough gig. The gap-toothed 59-year-old archbishop has become something of a national treasure, chopping up his dog collar on TV and wearing brilliantly coloured vestments while playing exotic musical instruments. Being rude to him would be like hitting Alan Bennett or calling Joanna Lumley a stupid old bag. It would not make you friends." [Guardian]

Simon Jenkins: A runway for jobs? It's time aviation's bluff was called
"The boss of BAA, Colin Matthews, said this week that a third runway at Heathrow would "only go ahead if strict environmental limits are met". What does he mean, if? They are not met and he knows it. Nothing on earth is going to stop him wanting his runway.

Meanwhile Whitehall is witnessing a truly bone-crunching fight between the immovable object of public interest and the irresistible force of Big Carbon. I am sceptical of most policies put forward in the cause of global warming but for aviation to plead its green credentials is like big tobacco claiming that smoking is good for your health." [Guardian]

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