THEY are not big or clever but four letter words can still be headline grabbers.

I’m not even sure the word a*** qualifies as a proper swear word, but the fact that I’ve had to use asterisks to replace rse suggests that it still has the power to offend the more sensitive members of our readership.

By a stroke of good fortune, or skilfully timed PR, Richard Branson’s visit to meet staff, and young entrepreneurs on Monday coincided with a breaking story about Virgin’s eleventh hour offer that could save the Northern Rock Foundation.

MPs were furious last month when it emerged that the North-East’s biggest charity was facing closure after talks with its sole backer, Virgin Money failed to produce a deal.

Virgin had inherited the foundation as part of its buy-out deal for the failed Northern Rock bank. It was stubbornly refusing to stump up the £4m-a -year the foundation wanted to help it support good causes.

Both sides had a point. Virgin Money said handing £4m, equal to 10 per cent of its annual profits, would stifle its ability to create more North-East jobs and wealth, while the foundation wanted to continue supporting good causes across our region.

On Friday, Ed Miliband weighed in with his two penneth when he used a visit to the region to urge a rethink from Branson.

By Sunday a rescue deal was on the table, or more accurately an offer had been sent to Miliband, it was Monday morning before the foundation saw details of Virgin’s £1m-a-year offer.

When I met Jayne Anne Gadhia, Virgin Money chief executive, she was full of diplomatic comments, such as: “We genuinely believe in the legacy of the foundation” and “We admire the work they do.”

That was before Branson came into the room, told the press that foundation bosses should get off their “a***”

and ask other companies in the region for support, and promptly undid Ms Gadhia’s attempt at conciliation.

Behind all of this cheeky banter is a serious issue.

The Northern Rock Foundation supports charities and organisations which change lives across our region. Its role has never been as a fundraiser – it was set up to distribute money to good causes.

Branson’s view is that it is costly to run and unless a deal can be agreed he will distribute the £1m via his Virgin Unite charity.

The upshot is that unless local firms chip in with the £3m shortfall then scores of good causes are set to suffer.

Fair deal my a***.