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Column Eight: Panic tempers misery

John Murray
Wednesday 29 July 1992 18:02 EDT
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Tears and gnashing of teeth at Burson-Marsteller, the public relations firm that has been dropped by the Telegraph newspaper group after the company's flotation went less well than planned.

But the sadness has been tempered by the acquisition of a new client. Step forward Milan Panic, the Prime Minister of the Yugoslav federation. Panic is a moderate Serbian (sic) who wafted into London yesterday to put the Serbian case to anyone who has the patience to listen.

Burson's Andrew Dowler, the man responsible for the Telegraph float, was on hand to organise Panic's press conference at the Savoy.

Congratulations to Basil Brookes, former finance director of Maxwell Communication Corporation. He has found a new job, as finance director of Wilmington, the publishing group headed by Brian Gilbert. Gilbert, you will remember, left MCC a year before Robert Maxwell's death, worried about the direction of the group. A wise man, one might surmise.

Boo, hiss to Cyril Sweett & Partners, the quantity surveyors. The firm announced yesterday that it had been appointed project manager and insurance negotiator for the restoration of the bombed Baltic Exchange in St Mary Axe.

Sweett included with its press release a transparency of the listed building pre-bomb. Trouble was the poorly packaged slide had shattered in the post, inflicting a nasty cut on the unfortunate reporter who opened the letter.

We hope that as well as negotiating on insurance, the firm has got a good public liability policy, as we have proof in the shape of a bloodied envelope . . .

Pity the poor Germans. Stephen Maran, chief executive of Lloyds Abbey Life, which has a subsidiary in Germany, has joined in the Gerry- bashing beloved of Nicholas Ridley and Norman Tebbit.

His target is the local insurance regulators. At a briefing to announce the company's interim results yesterday, he said Lloyds had hoped that the market would loosen up and 'it would not be regulated out of its tiny mind'. Alas, he feels it has got worse: 'The German authorities even regulate the width of the pinstripes on their managers' suits,' he claimed with not a hint of hyperbole.

US presidential election jokes are all the rage among City dealers at the moment. One wag rang us to ask if it was true that Mickey Mouse had been spotted wearing a Dan Quayle watch. . .

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