Good morning, it's Paul here!

Graham has passed me the reins for the rest of this week, and all of next week.

Jack Brumby articles

I had a smashing lunch with Jack recently, totally unaware that he was about to join the Stockopedia editorial team! Jack is part of the brilliant (and highly amusing!) team at Langton Capital, which focuses on the hospitality & leisure sector. 

The Langton daily email newsletter is an essential read, very highly recommended, if you don't already subscribe (it's free).

Here is the link to Jack's 3 thoughtful articles on Stockopedia, in case you hadn't spotted them already.

Victoria (VCP) meeting

I've been offered a meeting with Victoria this Thursday afternoon. As I happened to be in London already, I've accepted. This should be a useful opportunity to talk through, and ask questions, about the recent aborted bond issue. The company is keen to put across their view of things, and clear up any remaining questions or issues.

I like to be a conduit between private investors and companies, so am happy to throw it over to you. Therefore, if you wish to submit a question for me to ask Victoria management, then please leave your question(s) in the comments section below. I will then report back, hopefully with answers, some time after the meeting.

It's important to give companies a right of reply, I think. Although after the couple of clarification RNSs, I think most of the confusion has already been cleared up.

Persimmon (LON:PSN)

CEO fired

I am very pleased to see that Persimmon has sacked its grotesquely overpaid CEO, Jeff Fairburn, giving this reason;

... the Board believes that the distraction around his remuneration from the 2012 LTIP scheme continues to have a negative impact on the reputation of the business and consequently on Jeff's ability to continue in his role. 

If you recall, a badly designed LTIP scheme ended up paying obscene amounts to Directors, with the CEO getting something like £100m. He reduced this to about £75m, but it's still left such an appalling legacy that clearly his position was untenable.

This is executive greed at its worst, and is incredibly socially divisive. If ordinary folk are struggling to pay their rent, imagine how…

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