Fodens are not down and out
Page 29
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YOUR ISSUE (CM July 19) carries some rather strange comments. First, in your own Editorial you infer that the current recession, with all its attendant hardship, is good for Britain.
You fail to point out that the recession is totally brought about by high interest rates and consequent lack of investment in British industry and the high value of the £ reducing our export ability.
There is much to be said to bring you up to date with the facts which seem to elude you, but I have not time here to waste putting them to paper.
Secondly, your page 3 "Fodens are down and out" comment is typical of reporters' self-assumed licence to print illinformed ideas, often so damaging and contributory to Britain's present lack of confidence.
Down and out? Only hope, Rolls-Royce takeover? Dear, dear: how hasty, how silly. You could indeed "have egg on tie" in the very near future over this little bit of ill-thought hasty reporting.
As a journal of some standing you have a duty to present facts; your own and your staff's ideas so often are projected to the media in a way which appears to eagerly promote gloom J. A. SHACKLEFORD Castle Donington Derbys We believe that more than high interest rates have contributed to the trade recession. The writer's concern for Fodens is shared by all at CM. We fear that Mr Shackleford is confusing gloom with realism. — Editor.