{"id":179405,"date":"2018-02-20T19:27:00","date_gmt":"2018-02-21T00:27:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/02\/20\/how-it-should-be-done\/"},"modified":"2018-02-20T19:27:00","modified_gmt":"2018-02-21T00:27:00","slug":"how-it-should-be-done","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/02\/20\/how-it-should-be-done\/","title":{"rendered":"How it Should Be Done"},"content":{"rendered":"<div>If you want to run for office as a real liberal, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-02-20\/corbyn-vows-to-stop-hostile-bids-and-humble-the-city-of-london\">watch Jeremy Corbyn and take copious notes<\/a>:<\/div>\n<blockquote><p><span style=\"color: blue;\">Jeremy Corbyn pledged that a Labour government would make it harder for asset strippers to take over U.K. companies while vowing to make finance the \u201cservants of industry not the masters of us all.\u201d<\/p>\n<p>While his full-throttle attacks on bankers have been become familiar to the City of London, his prescription for blocking hostile takeovers is specific and likely to rattle the world of business.<\/p>\n<p>In a speech to the EEF manufacturers\u2019 organisation, he will evoke the case of <a href=\"https:\/\/www.bloomberg.com\/quote\/MRO:LN\">Melrose Industries Plc<\/a>\u2019s bid for <a href=\"https:\/\/www.bloomberg.com\/quote\/GKN:LN\">GKN Plc<\/a> as an example where action to fend off the turnaround specialist is justified. If elected, Corbyn would broaden the scope of the \u201cpublic interest test\u201d to allow the government to act. <\/p>\n<p>\u201cTake GKN, one of the world\u2019s oldest and most prestigious engineering firms, which employs 6,000 workers across the U.K.,\u201d Corbyn will say on Tuesday. \u201cAnd yet GKN is currently facing a hostile, allegedly debt-fuelled takeover bid by Melrose, a company with a history of opportunistic asset-stripping.\u201d <\/p>\n<p>\u201cIt\u2019s an all too familiar story, like when Kraft took over Cadburys,\u201d Corbyn will tell an audience of manufacturers at their annual conference in London. \u201cA valuable company could be sacrificed so that a few can make a quick buck.\u201d<\/span><\/p><\/blockquote>\n<p>Understand that it is important to actually have credibility to make such a claim, which means that things like paid speaking gigs at Wall Street or fundraising appeals to that same boulevard tend to eliminate this as a valid tactic.<\/p>\n<p>If you want to talk the talk, you have to walk the walk, as Corbyn has done for decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you want to run for office as a real liberal, watch Jeremy Corbyn and take copious notes: Jeremy Corbyn pledged that a Labour government would make it harder for asset strippers to take over U.K. companies while vowing to make finance the \u201cservants of industry not the masters of us all.\u201d While his full-throttle &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[371,456,374,437],"class_list":["post-179405","post","type-post","status-publish","format-standard","hentry","tag-europe","tag-finance","tag-politics","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179405"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=179405"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179405\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=179405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=179405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=179405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}