Just last week, the Government took over ailing Union Bank of Hong Kong and passed control to Jardine Fleming & Company, a prominent merchant bank.
Six months after it acquired Bear Stearns, the Wall Street giant took over ailing Washington Mutual, the largest U.S. thrift, minimizing the damage from the biggest banking collapse in U.S. history.
In this war between the boozer and the off-licence, PoundPub's policy of taking over ailing locals and making them attractive options again seems like it could be a pretty effective one.
A skeptical British columnist, Simon Jenkins of The Times, visited a few months ago and wrote: "Six years ago I would have predicted that, by now, Nelson Mandela's successor would preside over ailing business confidence, a sliding property market and a flight of money.
After a week where the market were battered by investors concerns over ailing mortgage markets, more write-downs, a weak dollar and high oil prices, Wall Street rebounded in the morning session from a bump in pharmaceuticals, airlines and retail stocks.
Sir Richard Branson's Virgin Group is expected next week to unveil the team of bankers it hopes will take over ailing mortgage bank Northern Rock.
