Big top may collapse now the ringmaster has left


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Edison or Einstein? As US business leaders argue about the relative worth of Steve Jobs and his place in the pantheon, I would argue that his genius was as a marketer and salesman, not as an inventor.

True, he insisted on the importance of design and ease of use. But nothing he produced was groundbreaking, it was just better conceived and better looking than anything else on the market.

And it was better sold. He was the PT Barnum of our age. It was the great US circus promoter who said: "Without promotion something terrible happens … nothing." I wouldn't be writing this comment piece if Mr Jobs hadn't been such a huckster. He created such a hype over the launch of his latest gadget editors all swooned and insisted on acres of coverage.

Did Sony and Samsung get the same treatment when they launched their tablets? No, because a company needs a face and he was Mr Apple. Who is behind rival electronic companies except faceless nerds and marketing departments? Will we be writing their obituaries in every section of the paper?

Mr Jobs' gift was to convince everyone his company was the outlaw, the cool kid in the class compared to the ugly bully Microsoft. That is partly because for all the billions he gives away to the Third World, Bill Gates will always remain a nerd with a bad haircut. Mr Jobs was the Steve McQueen of technology, with everything but Ali McGraw.

While we were dazzled by his wizardry and black polo necks, Apple had become the biggest company in the world by market capital. It managed to get a stranglehold on music delivery and helped create a myriad of applications that you can use only on an iPhone.

Apple may be exposed as an evil empire using cheap Chinese labour once everyone realises Tim Cook, the new chief executive, is a logistics man and not a magician.

Everyone is racing to say Apple will survive Mr Jobs' untimely demise without a tremor. They are poor students of history. They argue other companies have survived the death of their founders, such as Ford and Chanel. But Ford had a family driving the company forward after his death, while Chanel floundered until it was revived by Karl Lagerfeld in the 1980s. Technology companies cannot stand still, nor do I think nowadays they could withstand something like the Edsel debacle. Despite spending US$400 million (Dh1.46 billion) on its development and launch, the car was a spectacular lemon and Ford took a while to recover from its failure.

One botched product launch and Apple will be sunk.

"If I shoot at the sun I may hit a star," said PT Barnum. Mr Jobs certainly aimed for the sky. I fear his successors will be more terrestrial. The poetry will turn to prose.

UAE SQUAD

Khalid Essa, Ali Khaseif, Fahad Al Dhanhani, Adel Al Hosani, Bandar Al Ahbabi, Mohammad Barghash, Salem Rashid, Khalifa Al Hammadi, Shaheen Abdulrahman, Hassan Al Mahrami, Walid Abbas, Mahmoud Khamis, Yousef Jaber, Majed Sorour, Majed Hassan, Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Khalil Al Hammadi, Fabio De Lima, Khalfan Mubarak, Tahnoon Al Zaabi, Ali Saleh, Caio Canedo, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

'The Ice Road'

Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne

2/5

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How to come clean about financial infidelity
  • Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
  • Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help. 
  • Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
  • Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
  • Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported. 

Carol Glynn, founder of Conscious Finance Coaching