Person of the Week

Glenda Stone, past co-chairman of the Women’s Enterprise Taskforce and founder of the Where Women Want to Work Top 50

Glenda was ordered to pay compensation this week after she was found to have bullied a number of workers in her recruitment company, particularly women. In a sad indictment, she was found to have a dictatorial and intimidating approach to her female employees, and her former personal assistant developed depression and nervous twitch at the sight of her. Compensation was, in fact, ordered for a male employee
to the tune of £28,567.17.

Source: timesonline.co.uk

Quote of the Week

"Bouncing a cheque in the UAE is illegal and the penalties can be severe, reneging on a multi billion debt however, well that's a different story..."

A reader comment from one of the many articles about Dubai this week

Facts of the week

Former Four Seasons chef awarded Michelin's cheapest star

Mak Pui Gor awarded star at Hong Kong 'hole-in-the-wall'canteen

• Having run the three-starred Lung King Heen restaurant at the Hong Kong Four Seasons, Mr Mak went out on his own in response to the economic crisis to launch Tim Ho Wan.
• The dim sum takeaway canteen and restaurant seats 20 people and its most expensive dish is around £3.
• Jean-Luc Naret, Michelins' director has called it the most affordable restaurant in the world.
• Meanwhile Sydney Morning Herald Good Food Guide co-editor Joanna Savill said, "Michelin always used to be about the fine china, the glassware, the cutlery and the tablecloths, but people aren't always necessarily impressed by that. Sometimes all they want is great food."

Source: theage.com

Bank of England Chief Economist says economy has turned

Spencer Dale confirms that the UK appears to be emerging from recession, but cautions that a number of headwinds could hinder recovery

• Speaking at the Essex Institute of Directors Annual Breakfast this week, Spencer told the audience that "There is a range of evidence from business surveys, from the Bank's regional agents, and from recent indicators that the economy has begun to stabilise and that we are likely to be moving into a period of renewed expansion."
• He high-lighted that fiscal and monetary stimulus, along with a weaker pound, was helping to support the recovery.
• However, Spencer noted that the impact from necessary structural adjustments would be likely to impact recovery, and that credit conditions were likely to remain tight.
• Rather than focusing on more monetary stimulus, Spencer stated that his preference was to grow the economy "a little less rapidly" to avoid the possibility that quantitative easing might lead to an unwarranted increase in asset prices.
• "The recovery in the level of economic activity is likely to be relatively slow," he said.

Source: telegraph.co.uk
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Article of the week

EP Condense is EP's weekly e-newsletter. But did you know that EP is also a bimonthly magazine available via subscription? Our Article of the Week provides a sample of what we have featured in past issue.

This week we feature a story from of EP archives. It is a management feature entitled "New build philosophy." EP met with Lynn Hood, City Inn's Operations Director to discuss their entry into the hotel market. What are her views on the business’ key strengths and opportunities?