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DAMESATHOME@YAHOO.CO.UK
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Friday, 28 October 2011

Banker Cockell Lends More Millions Of Our Money to Design Museum and Slashes Front Line Services


 left: A Fool and Our Money are soon parted

The Dame has another terrifying £1 million 'Chelsea Care moment' coming on... why?
 Because that 'business genius' Sir Pooter Cockell has decided to ingratiate himself with Terence Conran by offering a £2.6 million loan to the Design Museum so "it can meet the planning requirement relating to the rebuilding of the Commonwealth Institute": according to the Cabinet Coordinator.
What on earth has the Design Museum to do with financially struggling residents?

When it comes to Cockell splashing our cash around the maxim,  'a fool and our money are soon parted', says it all: the million pound loss at Chelsea Care proved that.
Why did the Cabinet member for Finance (Cllr Lightfoot) permit this after his recent analysis that "if there is a Sugar Daddy like K&C funding Chelsea Care, everyone knows it is a bottomless pit. We have to learn this lesson".
Quote from the Chelsea Care Scrutiny Cte, Monday 17th October

Obviously, the author of 'We have no more money left' was over sanguine or went unheard by his Leader!

Pooter is putty in the hands of the rich and famous-hence his childlike delight when invited to dine with the Barclay Bros at the Ritz. Mr Myers even allowed him to use the Bentley to get there because, as the pompous Myers so dumbly said, 'it was cheaper than a taxi'!
So several questions need answering. The primary one being why K&C taxpayers should be exposed to this loan? And why is Cockell being so economic with the details.
'Cockup' Cockell needs to give some answers....and NOW.



 left: luxury eating houses owned by Conran.......
        








Very pertinent comment below..... 

Retired Chief Executive has left a new comment on your post "Banker Cockell lends another few million of our money...":

The danger of mixing public and private money in this way is that it sends a signal to the other private backers.

They now know that they can pull out and K&C is on the hook.

Why did the Cabinet member for Finance (Cllr Lightfoot) permit this after his recent analysis that "if there is a Sugar Daddy like K&C funding Chelsea Care, everyone knows it is a bottomless pit. We have to learn this lesson".

14 comments:

  1. Who gives him the power to do this? Is it his bleating sheep who are too afraid to challenge him yet again. Why have the papers not picked this up it seems they are in someones pockets? How can this mealy minded creature be allowed to do this when the elderly and disabled are having their services cut by stealth. Wakey, Wakey Count Sillers you're jobs are next.

    ReplyDelete
  2. The man is out of control.

    How can you make a "loan" to a charity that is struggling to find the money that it needs to make the move from The Elephant and Castle to Kensington High Street. Its balls.

    This is another subsidy, coutesy of the Kensington and Chelsea tax payer. Just like the £1 million per year subsidy (and growing) that Cllr Cockell pumps into Holland Park Opera.

    It is the same instinct that causes our Leader to charge up $300 to take a "friend" to dinner in New York on a Saturday night and $416 to take the crook Ian Clement to dinner - also in the Big Apple. Courtesy of the tax payer.

    The Planning Approval to move the Design Museum into The Commonwealth Institute was quite specific. Raise £x million and the deal is on. They failed to raise the money. So Fr Christmas jumps in and waves his wand. The tax payers wand.

    There is a recession on Pooter. Are you too thick to notice??????

    ReplyDelete
  3. Well this is what you get from a failed businessman.

    He blows his own money trying to make a margin out of exporting fags to West Africa (Cockell did not even manage to do that and turn a profit).

    So now he turns to dishing out tax payers money to circles where the high and mighty congregate. There is no limit to Cllr Cockell's social climbing

    ReplyDelete
  4. Conran knows a soft touch when he sees one.

    A dinner or two and Pooters knickers are off

    ReplyDelete
  5. Only in the right company, 22.32

    A "Sir" is beyond resistence

    ReplyDelete
  6. Yes, Sir Merrick came to see me and I gave him a very a large lunch at one of my restaurants(I think he rather liked the Cheval Blanc and intends putting some down in the Town Hall wine cellar). Anyway, after a large Cohiba and a bit of my usual charm I managed to get the little chap to stump up a few millions of K&C money.

    T. Conran Knight of the Realm

    ReplyDelete
  7. Retired Chief Executive28 October 2011 at 22:42

    The danger of mixing public and private money in this way is that it sends a signal to the other private backers.

    They now know that they can pull out and K&C is on the hook.

    Why did the Cabinet member for Finance (Cllr Lightfoot) permit this after his recent analysis that "if there is a Sugar Daddy like K&C funding Chelsea Care, everyone knows it is a bottomless pit. We have to learn this lesson".

    Quote from the Chelsea Care Scrutiny Cte, Monday 17th October

    ReplyDelete
  8. WOW! The Leader and his Finance Chief are clearly not connected up

    ReplyDelete
  9. Oh Boy - what a snake pit we have here looking after our money. Sounds like Greece.

    What a pity we dont have a German Chancellor around to create some discipline

    ReplyDelete
  10. In business terms this does not sound like a loan. It is Victorian philanthropy.

    A grand gesture to support a questionable need? The Design Museum is already well housed South of the river and no doubt they will enjoy a move North to a better watering hole. But is it the right time to be doing these things? The economic priority now is on conserving cash and building balance sheets.

    The other point worth mentioning is that the Victorian philanthropists invested their own money, not tax payer funds

    ReplyDelete
  11. Lord Philimore and his family own the Commonwealth Institute and rented it to the Commonwealth, who pulled out of their lease.

    Property developers want to build flats (selling for £8 million each) in the grounds of the Commonwealth Institute, which is a listed building and cannot be demolished.

    So we have one set of rich people haggling with another set of rich people about a deal that will make money from a third set of rich people.

    And the Council has got itself sucked into this to use council tax to oil the wheels of the rich.

    Can this really be true?

    ReplyDelete
  12. Cockell in Wonderland, Act II

    ReplyDelete
  13. Not so, Theatre Critic.

    Its the last grasp in the OK Saloon

    ReplyDelete
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