Throwing my weight at The Connaught Rooms launch on behalf of the BMMG to thwart the BT/IBM venture before meeting Mr Nicholas de Zoete and sorting out my investment plans as we hear NCB propaganda about the further closure of 16 more coal faces ‘due to lack of maintenance’.
Up early this morning, breakfast of toast etc., and washed and dressed in time to catch the 8.02am train from St Neots to London. I took the new Escort Estate car so that I would not have to leave the Jaguar outside the station all day. A first class return seat and space to study all the documents I had received on the BT/IBM venture and international OSI Standards moves. By 9.00am at Kings Cross and a short taxi ride to the Connaught Rooms in Great Queen Street. Magnificent rooms with plenty of space and high ceilings.
I arrived very early for the British Telecom Seminar and used the time to meet the BT organisers and find out the pattern of events including more about the background. I then circulated amongst arriving guests from other trade associations and companies and made my news known, establishing also that there was equal concern on their part. At 10.30am we moved through to the meeting hall and I took up a place towards the front and one side where I could later address the hall. I was glad to be joined by the DTI Chief, Alistair McDonald, who introduced me to a senior colleague who I think was Andrew Dogood or Brian Willett. BT presented their case for half an hour and then IBM did the same; both using well prepared slides and media. When the lights came up questions were invited and I was first to my feet to challenge them on the monopolistic aspects of the liaison and also the undesirable use of IBM SNA Standards, which effectively block out the equipment suppliers. This was followed by at least a dozen other hostile questions and I guaged the plan a success. I noted that the UK ITO representative, Wilf Robinson of Ferranti, was strangely muted keeping (in his own words) ‘his powder dry!’ I am unsure that this low key approach would work and sure that our outspoken style is both effective and good for the groups profile. Just time afterwards to lobby Ken Bartlett, Head of the IT Standards Unit of the DTI, before rushing off by taxi to my luncheon date with de Zoete and Bevan the Stockbroking firm. I was late but managed to phone ahead and warn them, and was greeted by Nicholas de Zoete, grandson of the founder, partner and member of the stock exchange. A fine lunch of avocado and grilled salmon in the City Club which is a quieter retreat in the bustle of the City of London at lunch time. I tell Nicholas all about my history, career and investment problems. We also talk about the British Micro Group, Kode and other matters to complete the PR job I ought to be doing. I explain my views on UK rather than overseas investment and, although Nick is an advocate and expert in overseas investment, he admired my sentiment and the fact that I had a basic belief in the skills and expertise of Britain. Back to the offices in Finsbury Circus and to complete forms for accounts in my own and Diana’s name. I also agree to an Advice Service and twice yearly valuation of my investments. I relate well to Nicholas, like the relaxed style of de Zoete, which contrasts with the aggressive American Brokers and their pushiness. They did well to link up with Barclays Bank. Then off by taxi to Hoare and Govett in High Holborn. Large, plush offices, and a very different style. A sales patter on Managed Investment, a self-opinionated approach from a junior executive and only then time to hear my story as before. If I had arrived at 2.30pm, he would have been late with the Grand Met Finance Director at lunch. Nevertheless, some more tips, and what I have learned from both is that I should consider 1988 index-linked stock and perhaps that I am better to put my balance of funds into government stock until the start of the bear market is over. Nick de Zoete also undertook to help me develop my City contacts in a lunch meeting late this year and to talk to Hermann Hauser of Acorn again about the BMMG. I met Julian Alison of ACT and also talked BMMG this morning and his company are keen to join depending upon ICL and Acorn. Home by train, car to find Daniel had disconnected my answerphone and played with my computer which annoyed me. An evening on paperwork and then to bed with Diana. News today of ICL agreeing terms for the STC takeover which was sad but unavoidable. I must speak to Rob Wilmott soon to update him on BT and hear the STC/ICL philosophy first hand. Also to canvas his membership for the BMMG more directly. News also of the acquittal of John DeLorean in the US on drug dealing charges and in the UK more NCB propaganda about the further closure of 16 more coal faces due to lack of maintenance. In Fleet Street an auction of escalating lottery moves has led to three papers, The Mirror, Star and Sun, offering £1,000,000 lottery prices which is amazing.