Without local authority funding, he paid his own way during the two-year course, taking a job as a sheet metal worker for a time.

BBC: Pete Postlethwaite fund at Bristol Old Vic School

My take: all this saber rattling about high royalties and windfall profits taxes is designed to scare the minnows out of the water and clear the way for the government to make a development deal with the big guys who have the balance sheet and know-how to get the job done.

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Companies I have seen recently for bank lending have mostly implemented the job losses and restructure they have needed to stave off immediate threat to their balance sheet but many have yet to get to the low point in their sales downturns so more may need to be done.

BBC: City Diaries: 19 March

He must find a way to shrink the finance unit's balance sheet (freeing up cash for the parent to use for product development and for possible factory closings and job cuts) while keeping the profit engine from conking out.

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