I see today that yet another “top” banker is about to resign or be pushed following record losses for the bank he runs. Citigroup chairman Chuck Prince has earned £27 million during his last four years at the bank, where he has presided over losses of £3.3 billion and a 57% slide in profits.

He joins former Merrill Lynch boss, Stan O’Neal, who last week was asked to leave but given a £181 million golden goodbye. In common with Prince, O’Neal was responsible for record losses at his bank. A staggering $2.3 billion during just one quarter, and a total of $8.4 billion. For working so hard, O’Neal earned $48 million in 2006. Yet when he announced he was leaving the bank’s share price actually went up.

So let’s imagine you’re working at a nursery and you lose 57% of the children in your care. Do you think you would be sent home, told you have been very silly and given some more children to take home with you? Or you sell cars for a living but decide to give away half the cars in your forecourt to random passers-by?

These men are over-paid failures who have lost millions for their banks. But no one blames them for it. Why is this?

Copyright: Helena Frith Powell 2007

We decided to stop for lunch at IKEA on our way home from the Savoie. Total madness. I have never seen so many French men desperate for Swedish meatballs. Haven’t they heard of onion soup or croque monsieur?

“Mr IKEA must be sitting in his Swiss villa laughing his head off,” said Rupert after almost an hour queuing. Olivia had a brilliant idea.

“There should be a special separate queue for anyone who is Swedish,” she said. I agree. After all, we need our meatballs and lingonsylt. The French hardly know how to eat them. I can tell they are totally confused when presented with a plate of meatballs with jam. I saw one French woman picking up a packet of glögg mix (raisons and nuts used to make mulled wine). The people at IKEA hadn’t thought to tell her what it was for, so she assumed it was a snack and started eating it.

Our trip was a great success. I think I may have found my new Devon with Norrie and Mary. The countryside is reminiscent of the rolling hills around my mother’s old house (who by the way is doing very well in Italy), the cows are as pretty and the sheep almost as numerous. Their home has become the children’s favourite place in the world. Bea said her best thing was the “flying biscuits” – they go into Norrie and Mary’s bedroom when they wake up and get milk and biscuits which fly across the room. Leo said his best thing was riding on Dusty the donkey and Olivia loved all the animals.

My favourite thing was spending a day alone with Rupert in Annecy, walking by the lake, chatting, shopping, eating and coming up with a new idea for a book. Although the donkey obviously comes a close second.

On second thoughts I’m with Bea who has just declared that her favourite thing was “everything”. Except for the queue at IKEA.
Copyright: Helena Frith Powell 2007