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Top story
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Vertex and TJ Morris hit the heights
Knowlsey-based outsourcing business Vertex and Liverpool-headquartered discount retailer TJ Morris head Merseyside’s entrants in the Sunday Times HSBC Top Track 250, the ranking of privately held UK businesses by sales over their last year of audited accounts. Vertex is 33rd in the list, making it the North West’s second highest-placed business behind Warburton’s, while TJ Morris is ranked 63rd, with sales of £322.5m. Following Greater London and the South East, the North West has more businesses in the Top Track 250 than any other UK region, with 32 companies.
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Today's news
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Universities to collaborate on new drug safety centre
The Universities of Liverpool and Manchester have been awarded a £3.7m grant from the Medical Research Council to collaborate on a new centre aimed at reducing the risks of adverse drug effects. The Centre for Drug Safety Science will be based at the University of Liverpool's School of Biomedical Sciences and will see scientists work with leading pharmaceutical companies to investigate how to improve the design, tailoring and selection of drugs. AstraZeneca, Novartis, Pfizer, Merck and the Association of the British Pharmaceutical Industry are also supporting the centre which is expected to open later this month. 
Don't target the successful, warns industry
Professionals and businesses across the region are calling on banks to take more of a long-term view on the financial crisis and continue their support for the good businesses in their portfolios. There is growing concern that capital constrained lenders are targeting fundamentally sound businesses to get their money out as quickly as possible. Mark Senior, M&A partner at Ernst & Young, told an Insider round table this week: "I was talking to a company the other day that makes more than £10m profit and hasn't breached any covenants but the bank is trying to get its debt back."
Waddington named at Prospect
Neil Waddington has been named as the new managing director of Warrington-based Prospect (GB), a wholly-owned subsidiary of housing group Riverside, which has grown a North West investment portfolio of £20m. Waddington has previously worked at Barratt, Miller Homes and Hurstwood Living.
John Moores University scoops excellence award
Liverpool John Moores University (LJMU) has been awarded a 2008 British Quality Foundation UK Excellence Award, only one of three organisations to receive the accolade. The award, presented to vice chancellor Professor Michael Brown, was in recognition of its commitments to excellence in business and commitment to self assessment. "LJMU is the first and only UK university to achieve this level of business excellence and it proves that we are run as a business," said Brown. "This award is real encouragement to all our staff who have been brave enough to challenge the status quo."
Merchant Taylors scheme gets planning
Architect Buttress Fuller Alsop Williams has submitted a planning application for a new multi-million pound indoor sports development at Merchant Taylors Schools in Liverpool. The proposed 23,672 sq ft development will include a sports hall, a dance and drama studio, a fitness studio, climbing wall, multi-function classrooms and refreshments room as well as indoor and outdoor spectator facilities.
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Something for the weekend
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Deal of the week
In a rapidly consolidating sector, insurance broker Oval strengthened its North West presence this week with the acquisition of Powell Insurance Brokers in Liverpool. Powell turns over £3.4m and has specialisms in construction and food and drink. Since starting in 2003 Oval, backed by Caledonia Investments, has created a national business of 31 hand-picked regional brokers and financial services companies pushing turnover to £60m. Oval also entered North Wales, picking up Williams Insurance Brokers in Wrexham.
Frankly speaking
Frank McKenna, wearing his Downtown Preston hat rather than the Downtown Liverpool one, took up cudgels against Blackburn and Blackpool councils this week over their objections to Preston's Tithebarn retail scheme. Everyone's favourite Scouse-ish rabble rouser declared: "Do they really think that people from their towns don't already travel to Preston or the Trafford Centre or Liverpool? I think they need to get in the real world. Preston is Lancashire's city, whether Blackpool or Blackburn like it or not."
Predictable quote of the week
"The Liberal Democrats have the responsibility for creating the situation where taxpayers have to pay £1.6m. It's an obscene amount of money." Joe Anderson, the ever-quotable leader of the Labour group at Liverpool City Council on the handsome pay-offs trousered by former council executives Sir David Henshaw, Jason Harborow and Phil Halsall.
Canapé won't pay
Mexican "fast casual" dining outlet Barburrito has become a firm favourite since opening in Manchester's Piccadilly Gardens in December 2005, so Insider has been eagerly awaiting its arrival in Liverpool. You can't really fault an event with sombreros and comedy moustaches all round and margherita by the bucketload, as well as top Mexican tucker.
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