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I'm not sure why this is a story. There is no suggestion these enterprises are not doing well and that the leaders have not just moved on to other things.
Local government and the public sector generally has borne a great deal of the fallout from the financial crises caused not by them, but by the greed of some private financial institutions. Rather than just crumble, which is clearly what the Liberal/Conservative governments hoped, they have innovated and branched out. They have become more commercial and entrepreneurial. All done legally within the framework of extremely tight public sector legislation. Any misspending of public money would be picked up on the annual audit and published on the front page of the Daily Mail. The fact it hasn't speaks volumes about how these enterprises have been drawn up.
The hostility to these enterprises is concerning, both in the legal press and in comments left. The public sector has moved on from the days of the 60's and 70's, the rest of the legal profession should follow where they lead.