OH dear, one element of the British financial media doesn't seem to be taking too kindly to the flotation on Ofex of Ritz Music, the independent Irish record label whose premier artistes include your granny's favourite crooners, Daniel O'Donnell and Charlie Landsborough. Ritz is trying to raise a cool £1 million on Ofex, the market created to replace the old Rule 4.2 listings when the AIM market was started in London.

Paul Murphy of the Guardian has a reputation among the market reporting set for his occasionally caustic tongue and Ritz felt it to full effect this week.

Writing on a day when things were pretty quiet on the real markets, Mr Murphy described Ritz's offer document as "simply laughable", especially the illustrative" price earnings multiple of 32 times, a multiple that is more akin to Tokyo high tech stocks than the Ofex start up market.

The Margin is looking forward to a date with Daniel at the Point Depot on December 14th. Perhaps the Guardian could send Mr Murphy he would then see that £1 million is small change for the Donegal nightingale's fans.