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TAILPIECE

02 Jul 05. Spoofed! Saturday’s FT contained a story about the floatation of SAFT Groupe, the battery manufacturer previously owned by the UK’s Doughty Hanson. Goldman Sachs handled the IPO and published a lengthy research note on the floatation. One potential source of future revenue pinpointed included batteries for ‘future soldier’ programmes. The Goldman note said the programmes included South Africa’s Zulu Warrior, Norway’s Viking, Germany’s IZM and Italy’s Runaway. Experts in this field will notice the spoof element of this which went unnoticed by the analyst. Goldman said on Friday, “This was a mistake. It should not have been published and we apologise for any offence.” (See BUSINESS NEWS)
Comment: Given the huge level of City earnings displayed in this week’ Sunday Times, it would appear that a higher level of understanding of defence programmes is once more needed in the City to match this earning capability. A former CEO doing an analysis of BATTLESPACE’s potential said in her note that, ‘Julian Nettlefold launched the first internet show daily at Farnborough in 1996 sponsored by McDonald Douglas.’ She was CEO of a defence publishing company supplying information to industry! Two quarter pounders and a DC-9 might be the answer! Previously in the CV it says that I launched Defence Industry Digest (Now Jane’s Defence Industry) to inform analysts of developments in the industry, perhaps this subject should be revisited as it appears ours and Janes message is not getting across or that City cutbacks have resulted in a cutback on proper analysis.

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