Everybody in the City knew that the Ocado emergency rights issue/float was a dog - unless, of course, they worked for the company, its spinners Brunswick or the plethora of investment banks the online grocer paid to keep quiet about the offer (all of which are sell signs on their own).
Still, with hindsight, another red flag occurs. My old friend, Jason "Missing" Gissing, the group's newly anonymous co-founder and former finance director, now has the job of Ocado's "Director of People, Culture and Communications". Would anybody invest in a company employing directors with such pretentious titles?
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