Talk about South Sea bubble

Evil discusses naughty judges, Trinity Mirror and Gate Ventures…

As I understand matters, the four judges who have been sacked for watching pornography on taxpayer-funded PCs really committed the offence (not defined in law) simply by using taxpayer-funded PCs. It would not have been an offence on their own equipment. The PCs I mean.

Well, I have got news for Grayling and Co.: perhaps thirty years ago, a prominent High Court judge, subsequently a member of the Supreme Court and a colossally respected jurist, f****d his Court clerk in his Court. I do not know whether he used a table or the chair or merely the floor. But he never got the bird for getting the bird. He was merely congratulated on his chutzpah. Autres temps, autres moeurs.

*****

Trinity Mirror (TNI) might take over Express Newspapers. There are one or two difficulties. The first will be HMG’s enquiry into concentration of the press. And the second will be the currency. I doubt if there is sufficient cash/overdraft facilities. This means paper. I expect the direct owner will not be MGN since that company surely needs to be ring-fenced.

*****

Gate Ventures (GATE) is capitalised at £23.5m whereas cash in the bank is of the order of £3m. No investment target has yet been identified since, no doubt, it is so secret that none, not even a director, shall know what it is to be. Talk about South Sea Bubble. It joins Concha (CHA) on the loonies’ list.