Not all financial institutions are having a bad time it seems.
M&G Investments have taken over sponsorship of the Chelsea Flower - perhaps a good move for M&G after the RHS revealed that more Footsie 100 company executives visit Chelsea than any other event - seems like a bit of networking to me.
M&G also take over the sponsorship of the Gala Preview night from Lloyds TSB. Lloyds were criticised last year for extending sponsorship at a cost of 'hundreds of thousands of pounds,' when their own existence was threatened by the credit crunch.
The RHS say that the had to fend off sponsors who were eager to take over as being associated with the next three years, but Why Chelsea should prostitute itself to a financial company after such a bloodbath in the city I don't know.
What they don't make clear is how many of those vying for the publicity are horticulture businesses - perhaps there are not many left who could afford such an investment?
Marshalls are certainly not in a position to splash the cash and pulled out after a change in its own fortunes. Marshalls recently announced a further fall of 18% in profits and warned of an uncertain future.
Marshalls shares rallied to about £1.40 after the dividend was announced but has since slumped to .90p as investors exited when the shares went ex-divi.
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