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I Love Mondays: The autobiography of Sir Alec Reed CBE by Judi Bevan, Alec Reed

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CHAPTER 21Operation Starburst

IN MAY 2000 WE THREW A HUGE PARTY at the London Arena in Docklands to celebrate the company’s 40th anniversary. I had passed my 66th birthday and James wanted me to celebrate the anniversary with a bang. The dotcom bubble was yet to burst, and the word in the City was that ‘a new paradigm’ had been achieved. We were in a Goldilocks economy – ‘not too hot and not too cold’ – in which the deluded believed there would never again be a crash. Later that year, at the Labour Party conference, Gordon Brown, then the Chancellor, made his famous declaration: ‘We will not put hard-won economic stability at risk. No return to short-termism. No return to Tory boom and bust.’ I like Gordon Brown, but he made himself a hostage ...

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