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Article: Heron boss flies to cash; Developer Gerald Ronson has rebuilt his life after being jailed in the dark days of the Guinness affair.
- Article from:
- Daily Mail (London)
- Article date:
- May 1, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Alex Brummer
MOST of the banking world and the quoted property companies failed topredict the onset of the credit crunch and its disastrous impact on real estateprices.
But from his eyrie on the Marylebone Road in central London, Gerald Ronson, thedoyen of development, has seen it all before.
In the late 1980s his Heron International empire, the second largest privatecompany in Britain, came within a whisker of collapse as banks and bondholderspulled the rug from underneath the firm.
It was, Ronson acknowledges, a 'major trauma', adding that he has 'learned anawful lot of lessons'.
This time around, now bulkier and ...