Work-Life Balance

Am I the only one to see the irony in a pub named 'The Golden Fleece' being just a couple of hundred yards from Bank on Queen Street?

If ever there were a phrase to sum up the activities of all banks then this has to be it - including the Old Lady of Threadneedle Street, for all her generosity with our cash these days.

Well this is more a sign-off for now: I am in one of the most delicious moments - the final day before L and I take a well-earned two week holiday. Yesterday was hectic again, and a further illustration that the bank finds itself underresourced in many areas now. More importantly, the holiday will be a wonderful respite from the daily grind - and let's face it, getting away from blighted Blighty is practically a necessity for the soul in 2009.

As a nation, we appear to be revelling in bad news, as epitomised by the continuing, grotesque voyeurism of the tabloids tracking Jade Goody's decline from terminal cancer.

My only resolution while away? Well, I'm sure the odd entry, but most importantly to find a little time to work on the business plan. It has great merit, and I am convinced that I can translate words into a pilot site quite quickly. Not least because I set up a (failed) consultancy business many years ago.

By a cruel quirk of fate, the critical deadline for GGP (Mar 16) will also be reached during my vacation, but as I invested with the understanding it could all be lost, I have no intention of letting that spoil my party should something particularly bad happen (unlikely). At present GGP are in a solicitation process with the Rouse bondholders, to suspend all payments due on Mar 16 without action on their part until the end of this year. Interest will continue to accrue meantime.

It will be highly significant if the bondholders bite, as it will in effect be a vote in the future of GGP, and significantly reduce the chances of GGP filing for Chapter 11 next week. On the other hand, if they do then I will also be very pleased as it will resolve the financial limbo - either result ought to start the move back upwards towards the $5-10 range that GGP would more realistically be priced at were it not for bankruptcy fears in these risk-averse times.

For those of you working tomorrow, I'll have a cocktail to toast absent friends when I land..