Taking Stock - Maxwellian tragedy.
Big, bobbing Bob Maxwell’s legacy lives on. In an effort to evaluate the scale of corporate cock ups, the national press last week put the collapse of Independent Insurance, founded by Michael Bright 15 years ago, up there with the mess uncovered at the empire of the deceased media tycoon.
Asked if he had ever come across a case this bad, PricewaterhouseCooper partner Mark Batten, said: ‘Maxwell,’ leading one of Fleet Street’s finest to coin the term ‘Maxwellian.’
TS wonders if this could lead to a proliferation of new financial terms such as I’ve got a BCCI in my accounts.