Daily Mirror Accuses Tory Treasurer Michael Spencer of ‘Cashing In’ On 9/11, Offers Apology
WAS it brave of foolish of the Mirror to take on Tory Treasurer Michael Spencer in an article entitled, “CASHING IN ON 9/11”?
Tory treasure Michael Spencer shamelessly poached key figures from a rival finance firm while it was still grieving the loss of 658 staff in the Twin Towers terror attack.
Grim stuff. The article is equipped with a shot of a beaming Spencer stood by David Cameron, another shot of Spencer holding a bottle of champers and a picture of the Twin Towers ablaze. Subtle it ain’t.
The other firm, readers learn, was Cantor Fitzgerald, a firm that lost its New York staff on that terrible day.
But as they came to terms with the death of their friends in the US, scheming billionaire Spencer was plotting to lure staff to his broking firm ICAP – despite a pledge to Cantor boss Lee Amaitis he would stay away. He even cynically referred to the snatch as a ‘heist’.
The Mirror even cynically calls it a “snatch”. Readers learn that “furious Cantor chiefs” learnt of the “snatch” and took Spencer to the High Court. The Mirror notes that the “full details” of the matter can now be revealed.
Only, they won’t be in the Mirror. For the full picture you need to wait for the apology:
In our article “Tory Treasurer Michael Spencer Cashed in on 9/11 by poaching staff off rivals mourning 658 dead” of 10 February , we claimed that ICAP and its Chief Executive, Michael Spencer, exploited the 9/11 tragedy by poaching staff from Cantor Fitzgerald, a rival company who had brought proceedings against ICAP in 2002. We now accept that the article contained a number of material inaccuracies. ICAP was, in fact, broadly successful in defending the action (winning two out of the three claims brought against it) resulting in Cantor paying a substantial sum to ICAP in respect of their costs. We also accept that Mr Spencer did not breach a promise not to poach staff at Cantor and that it was Cantor who had rejected Mr Spencer’s offer of a mutual “no poach” deal which he made shortly after the 9/11 tragedy. It follows that our allegation that Mr Spencer had “cashed in on 9/11” was wholly unfounded. We offer Mr Spencer and ICAP our sincere apologies for these errors and for any distress caused to him . We have agreed to make a substantial contribution to a charity of ICAP’s choice.
You can read the apology on Page 10 – left hand top corner. It comes after the headline: “Tories ‘not straight’ on elderly tax.”
The original article has been purged from the Mirror’s website. Althogh can read:
City watchdogs have admitted they are aware of alleged sharp practices by a friend of Conservative leader David Cameron.
On it goes…
Posted: 15th, February 2010 | In: Politicians Comment | TrackBack | Permalink
