Is this yet another victory for big business against local communities?

One of the first rules of investigative journalism, thanks to Watergate, is: follow the money.

Well this blog is clearly a forge of investigative work, ahem, so now the Office of Fair Trading (OFT) has this week decided that the landlord-loathed "beer tie", which the pub-owning corporations use to boost their profits (or screw every last penny from their tenants, depending on your opinion) is absolutely fine, how did our loyal friends "the money markets" react?

Shares soared, of course. Because the tie is all about money and people who are all about money. It's not about your local boozer or your genial landlord pulling you a glorious pint of Exmoor Ale or Country Life's Golden Pig. It's not about working pubs which reflect history and community; it's about corporations, spreadsheets, boardrooms, and second homes in France. There are national, even international, margins which must be kept and must be kept to improve dividends.

The news wires are today, October 22, are reporting that shares in Enterprise, which owns loads of pubs round 'ere, gained 19% after the controversial OFT announcement, while Punch went up 12%, and Marston's jumped 4%.

The OFT told the national press in a statement: "The evidence indicates that consumers benefit from a good deal of competition and choice within this sector."

Of course there are universes of meaning within the apparently simple phrase "consumers benefit". Which consumers, how many, and how do they benefit?

My personal opinion, as a consumer who loves the benefits of the English pub with a passion, as I hope this blog shows, is that the tie is an outrage and a scandal. I know some North Devon landlords agree with me.

Camra, which brought a "super complaint" to the OFT, is now appealing to Lord Mandelson to intervene. Maybe like he did with the Post Office? Fat chance.

I'm not a member of Camra but I can only support its ongoing campaign to save the local pub. I hope one day we'll all accept that the pub is not a business like any other, it's a cornerstone of our culture, which shouldn't be subject to the cut-throat vagaries of the Alice in Wonderland stock market.