Why it's a smart move for Hutchison Ports to pay Chris Grayling £100,000 a year

There's been a lot of adverse comment about the decision by Hutchison Ports to pay Chris Grayling £100,000 for seven hours' work a week for a year.

Critics point out that the firm with no ships that Grayling hired to run ferries in case of a no-deal Brexit has gone bust this week owing £2m. But they are missing the point.

What Hutchison Ports will undoubtedly be doing is listening to Grayling's advice and then doing the precise opposite of what he recommends.

So £100,000 represents excellent value for the company's shareholders. I may invest in it myself.