More and more, it appears that the appointment of these people is based on who they know rather than what they know. For the most part, we hear nothing from them to challenge the status-quo within the businesses, and the mass resignations which should follow the complete dereliction of duty implied by the loss of shareholder value, are awaited with bated breath.

Without a radical shake-up of the regulatory system, governing companies and a narrowing of the articles of association, little will change.

Once the inquiries are over and the dust settles, it will gradually return to business as previously, with risk-taking executives, compliant non-executives and toothless watchdogs.

However, one small protest is within the investor's grasp. When the AGM voting slips come round, vote against the recommendations of the remuneration committee! That at least might send a signal that the days of self-engrandisement and of largesse must come to an end and the investor/ shareholder must come first if confidence is to be restored.

From: Barbara Garden, Strickland Avenue, Leeds.

EVERYBODY is blaming the banks for the present money crisis, but I have not seen any references to the estate agents who were willing
to give a mortgage to students on the grounds that they would have an assured income at the end of their degree course.

No regard appears to have been given as to whether the applicant has a car on hire purchase – or will expect to be buying the new furniture by the same method.

Many people accepted that a new kitchen or/and a new bathroom were essential. Put it on the bill was an easy option.

These all added to the banks' troubles and I wonder why a bonus is paid anyway. Employment is given and a payment is made.

The good workers should get paid with promotion when and where possible, the poor workers should be sacked. I am told that I am out of date. Maybe I am, but I was told never to eat my Christmas dinner until it was paid for and to carry that precept through the whole year. I have done and I'm not broke.

From: Michael Swaby, Hainton Avenue, Grimsby.

TOM Richmond makes some telling points in his very readable Saturday article (Yorkshire Post, October 4), and I've even learnt a new word; lacuna is neither a substance nor an Italian resort.

Regarding the apparent certainty of the Conservatives being returned to power, I agree that any chicken-counting should be delayed. The current financial crisis could deteriorate further, into something nastier than most people have experienced.

In this event, all the usual bets would be off. However, what are the odds against a national government being formed in 2009?

Tom Richmond quotes Dr Andrew Hilton in saying that "the current Tory front bench is one of the most inexperienced in history on financial matters". Those with long memories would probably concur.

Two outstanding Chancellors that I recall were Roy Jenkins and Ken Clarke. Each was appointed following a damaging devaluation of the pound, and each was successful in managing the difficult adjustment period.

The changes made by Gordon Brown are most interesting, as is the editorial comment by the Yorkshire Post. At a time when mediocrity abounds, I would cautiously suggest that the Government looks stronger than it did a week ago, and that Tom Richmond's comments regarding Ken Clarke become even more apposite.


Unelected return of an unwelcome figure


From: Jack Kinsman, Stainton Drive, Grimsby.

THE New Labour Government has proved itself unworthy to govern by hiring Peter Mandelson. In the eyes of the public, this man is a cheat, who would not be trusted to show your granny across the road, but this excuse for a Government not only hires him, but rubs the people's faces in it by giving him a peerage.

From: Terry Duncan, Greame Road, Bridlington.

HAS Gordon Brown no faith in the standard of Labour MPs that the electorate put in to Parliament? Has he just abandoned the
word democracy or is he admitting most of the Labour MPs are thickheads?

I believe so, now that he has to turn to non-elected Lords and Ladies, businessmen and women, some he ennobles for the task, just to help him run a Government, with no endorsement from the millions of hard-working men and women on the streets of Great Britain.

It is worrying that, like him, an unelected Prime Minister, putting an X to a voting paper is not worth the bother.

From: David Quarrie, Lynden Way, Acomb, York.

IS the Labour Party so short of talent that PM Gordon Brown, when doing his latest Cabinet reshuffle, has to bring back in to our Government Peter Mandelson and Margaret Beckett?

Has a cupboard ever been so bare? It seems as if, in today's Britain, failure is always rewarded. No wonder our nation is dying.


Tory rail plan is on the right lines – but wrong route


From: Michael Oughtred, president, Yorkshire and Humber Chambers of Commerce.

THE reaction of British Airways chief Willy Walsh to the Conservatives' announcement to develop a high-speed rail line linking Leeds to London (Yorkshire Post, October 2) is a clear example of why the debate on high-speed rail needs to be separated from specific decisions on airport expansion.

There is clearly a demand for additional airport capacity and we strongly believe that developing regional long-haul airports will take the strain of congestion from London and add to the economic development of the regions where it is most needed. Air travel is essential to the development of international businesses and is therefore a key strategic asset for many companies across Yorkshire.

Businesses in the region want to see all the political parties commit to long-term investment in transport and we support measures to increase the speed, frequency and reliability of rail services to our region. There are, however, some major questions business will ask before they can be persuaded these new Conservative proposals
stack up.The suggested route to Leeds via Birmingham and Manchester will not deliver the region-wide benefits for Yorkshire and the Humber that an East Coast alignment would bring, linking our major cities and transport hubs, such as Robin Hood Airport, following the existing major route network.

There are also far more pressing priorities for rail investment before 2027, most crucially the upgrade of the existing East Coast Main Line and substantial and immediate capacity increases on key commuter routes to cities such as Sheffield and Leeds to alleviate overcrowding.

The Conservatives are on the right track by recognising the need for strategic transport investment in our region, but more thinking is required on these potentially exciting plans to convince business that they could really boost "Yorkshire plc".