UK: The unkindest cut of all (so far) - paul sykes.

UK: The unkindest cut of all (so far) - paul sykes. - Inside Story/By Toady.

Last Updated: 31 Aug 2010

Inside Story/By Toady.

As the revered ancestor, the Blessed Gwendoline de Toady, was wont to remark: there's a smart aleck in every crowd. One had felt safe in offering a bottle of cuvee Toady to the reader who could come up with a bigger pay-cut than that awarded to himself by "Black" Jack Dellal (£6.054 million, MT September 1992). One had, however, reckoned without the existence of a certain Neal Moister, toiler in that charmingly anachronistic body, the Labour Research Department. Moister smugly points out that Paul Sykes, creator of the Sykes property group, recently reduced his wage packet from £6.854 million to just (sniff) £178,769. For the less than mathematically adept among you, this represents a cut of £6,675,231, or £621,231 more than Delal's. Lest sensitive readers should fear for Sykes's well-being, it should be noted that a 40% stake in Sheffield's appallingly successful Meadowhall shopping complex will probably keep the wolf from the Sykes door. We trust that Moister's champagne will not have an aroma of sour grapes.

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