Sir, Senior business leaders have admitted that one in four of their decisions was wrong (Business, August 16).
The late Sir Ian McGregor was appointed chairman of the ailing British Steel in the early Eighties. As a senior purchasing executive in the oil industry I was accustomed to being well entertained by British Steel in its many executive dining rooms scattered throughout the country. Lunch was formidable, commencing with drinks from a well-stocked bar. The comprehensive menu was accompanied by burgundy and grand cru claret, with a good port for the cheese.
On one occasion, after I had met Sir Ian to discuss a large pipeline order which the Government wanted us to place with British Steel although it was commercially uncompetitive, we went through to lunch. The bar had gone, there was a fixed menu with water or orange juice on the table.
I asked Sir Ian: “Why the change?” He gave me a wry smile and said: “I reckon that my executives are only capable of making one decision in a day and I would hate them to waste that on deciding what to have for lunch.”
I am, Sir, etc,
HAMISH H. CARLTON,
Gowrie Cottage, Little Dunkeld,
Perthshire PH8 0AD.
hamish@carlton-law.demon.co.uk
August 20.