Read this: Fall from grace of Michael Grades ITV - TV Radio, Media - The Independent
Summary: As the red-socked television impresario walked into its headquarters in London's Gray's Inn Road, staff left their desks in the hope of a glimpse of the returning hero and burst into a spontaneous cheer when he appeared. The staff who once cheered their new executive chairman to the rafters had to hear from him that 600 jobs about 13 per cent of the workforce would be lost. You had to feel a little sympathy for the former Channel 4 chief executive who could not, when he determined to return to the commercial sector, have foreseen the economic conditions he would inherit. - independent.co.uk
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