nickshanagher

Adrian Smith, the former WHSmith News executive who has chaired the Press Distribution Forum in the UK, is a passionate promoter of the strengths of the newspaper and magazine supply chain in the UK. In his introduction to last week's launch of the Press Distribution Charter, Mr Smith says the intention is to "help retailers to serve their customers". The charter has 80 clauses and a complaints mechanism, which builds on the previous ISSA regime. However, while well intentioned the charter is always likely to fall short as far as retailers are concerned. The reasons for this are set out in an unrelated column by FT writer John Kay, who chose this week to discuss the weaknesses of regulation. In 1887 the US decided to regulate its railroads at the request of farmers and merchants. However, Mr Kay quotes the president of the Union Pacific Railroad who supported regulation as saying: "What is desired is something having a good sound, but quite harmless, which will...