i was wrong, page-8

What you'll also appreciate is that when the time comes for the suits with chequebook in hand to arrive you can be sure that terms for exit from this fiasco for Nick & his buddies will be fabulously generous in terms of cash payments, loss of options, loss of future salary and all that jazz etc.

In terms of a career move I'd also venture that his personal options are largely based on accumulating as much cash as possible as he heads to retirement (hence offloading at 27c recently, as he knew then what the qr was going to look like and sold) - because face it - would you give him a role as non-exec or consultant in your company? I know I wouldn't.

I've been describing this very outcome for a long long time - these people make a career out of playing the game and grabbing as much for themselves as possible before they croak - whilst those true captains of industry who have the ability to drive similar projects in resources like this forward do so diligently, ably and with their responsibilities as CEO do so with utmost dedication.

I too remember a time when bankers could be trusted - but that notion slipped some time in the late 1980's when the whole culture shifted to 'I'm alright Jack' self-interest verging on total corporate sociopathy.

Nice job if you can get it.