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Jjb Closes 45 Stores

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Says it will go under if it cannnot renegotiate rents and loans.

Director's total remuneration

2010 £2,593,000

2009 £1,291,000

"The Committee determined that the targets had all been met and therefore the Executive Directors were each

entitled to a bonus of 100% of annual basic salary."

http://www.jjbcorporate.co.uk/pdf/reports/2010%20-%20Annual%20Report.pdf

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The FSA fined JJB £455k last month.

The FSA has decided to impose a penalty as a result of JJB’s total delay of 9 months and 8 days, between 18 December 2007 and 26 September 2008, to disclose to the market inside information concerning the full amount paid in relation to the acquisitions of OSC and Qube, which gave a misleading impression as to the consideration for the acquisition of both OSC and Qube. The failure to disclose the complete position regarding the consideration for these acquisitions thereby led to the creation and continuation of a false market in JJB’s shares.

http://www.fsa.gov.uk/pubs/final/jjbsports.pdf

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Director's total remuneration

2010 £2,593,000

2009 £1,291,000

"The Committee determined that the targets had all been met and therefore the Executive Directors were each

entitled to a bonus of 100% of annual basic salary."

http://www.jjbcorporate.co.uk/pdf/reports/2010%20-%20Annual%20Report.pdf

Oink! Snort! Snort! Oink Oink!

F'ing disgraceful. Someone recently said on these forums (can't remember where, can't remember when, can't remember to what in response to) something like as a policy to raise more tax that any earnings (including bonuses) over 1,000,000 should be taxed at 90%. To that I say "hear hear", close all the tax loopholes that allow the richest to pay a lower proportion of their income in tax and if the 'talent' decides to leave these shores then let them. Hell, I'll even buy their one way plane ticket - we'd be better off without these selfish imbeciles imo.

EDITED to say that we know they wouldn't go and any threat to do this is just an empty threat.

Edited by danlee74

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Says it will go under if it cannnot renegotiate rents and loans.

Add into the mix their core customer is skint and it's looking none to good jor JJB. Stores well understocked too - bust by Easter I reckon.

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Director's total remuneration

2010 £2,593,000

2009 £1,291,000

"The Committee determined that the targets had all been met and therefore the Executive Directors were each

entitled to a bonus of 100% of annual basic salary."

http://www.jjbcorpor...al%20Report.pdf

and there are 100,000 small business owners who would take no pay at all to ensure their employees are looked after.

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Moral Hazard.

Not unexpected.

If the banksters deserve a bonus (they don't even deserve employment for what they have done) then the directors of all the other companies on the exchange must be worth whatever they can gouge out of the books.

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Moral Hazard.

Not unexpected.

If the banksters deserve a bonus (they don't even deserve employment for what they have done) then the directors of all the other companies on the exchange must be worth whatever they can gouge out of the books.

The bank bonuses are just a smokescreen to draw attention away from executive pay in general.

People don't seem to be connecting the dots between rising prices and rising executive pay. When you look at net profit per unit they sell, the salary excesses must be leading to price increases.

Some others I have posted recently:

Next

S A Wolfson £831k to £1.7m (+109%)

C E Angelides £585k to £980k (+67%)

D W Keens £560k to £936k (+67%)

A J Varley £423k to £789k (+86%)

http://www.nextplc.co.uk/nextplc/financialinfo/reportsresults/2009/jan10/jan10-c.pdf

HMV

Simon Fox £579k to £874k (+51%)

Neil Bright £349k to £559k (+60%)

Gerry Johnson £312k to £494k (+58%)

Robert Swannell £50k to £200k (+300%)

http://2010hmvgroup.ry.com/Accounts_and_Downloads/PDFs/directors_rem_report.pdf

Kesa

Thierry Falque-Pierrotin 2009 to 2010

£521,838 to £2,105,430

http://kesaelectricals.com/results-and-reports#117|tab=136

Halfords 2009 to 2010

David Wild £799,000 to £1,134,000 (+42%)

Nick Wharton £384,000 to £555,000 (+44%)

Paul McClenaghan £383,000 to £540,000 (+41%)

http://www.investis.com/hal/ir/fininfo/reports/rep2010/ar2010/ar2010.pdf

Edited by Redhat Sly

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The bank bonuses are just a smokescreen to draw attention away from executive pay in general.

People don't seem to be connecting the dots between rising prices and rising executive pay. When you look at net profit per unit they sell, the salary excesses must be leading to price increases.

Some others I have posted recently:

Next

S A Wolfson £831k to £1.7m (+109%)

C E Angelides £585k to £980k (+67%)

D W Keens £560k to £936k (+67%)

A J Varley £423k to £789k (+86%)

http://www.nextplc.co.uk/nextplc/financialinfo/reportsresults/2009/jan10/jan10-c.pdf

HMV

Simon Fox £579k to £874k (+51%)

Neil Bright £349k to £559k (+60%)

Gerry Johnson £312k to £494k (+58%)

Robert Swannell £50k to £200k (+300%)

http://2010hmvgroup.ry.com/Accounts_and_Downloads/PDFs/directors_rem_report.pdf

Kesa

Thierry Falque-Pierrotin 2009 to 2010

£521,838 to £2,105,430

http://kesaelectricals.com/results-and-reports#117|tab=136

Halfords 2009 to 2010

David Wild £799,000 to £1,134,000 (+42%)

Nick Wharton £384,000 to £555,000 (+44%)

Paul McClenaghan £383,000 to £540,000 (+41%)

http://www.investis.com/hal/ir/fininfo/reports/rep2010/ar2010/ar2010.pdf

How long will the debasement and profiteering from our currency continue. These directors will lose the will of the people being priced out of the economy. Pretty soon no one will be willing or able to work for £5.93 an hour and they won't get much help from China/India to mow their lawns and wash their bentleys, unless of course there is a serious skills shortage for these types of jobs and the government adds them to the overseas skilled workers list. I hope the rich have set-up home somewhere else as I can see loads of angry proles trampling their pristine lawns if the corruption continues as it is now.

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The bank bonuses are just a smokescreen to draw attention away from executive pay in general.

I can choose not to shop at overpriced tat merchants like Next and HMV but I can't prevent the government from taxing me to bail out the banks.

I agree that executives are looting FTSE companies in the final hours before the iceberg, but that is a problem for shareholders who can choose not to participate, not taxpayers who can't.

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I can choose not to shop at overpriced tat merchants like Next and HMV but I can't prevent the government from taxing me to bail out the banks.

I agree that executives are looting FTSE companies in the final hours before the iceberg, but that is a problem for shareholders who can choose not to participate, not taxpayers who can't.

We are the shareholders. These shares sit in our pension funds that we have no control over. The slick city Banksters pension fund managers get to decide for us.

Edit: the Fund Managers frequent the same wine bars and golf courses as the company CEO and have Chalets at the same Ski Resorts. They're not our friends for sure.

Edited by tomposh101

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I can choose not to shop at overpriced tat merchants like Next and HMV but I can't prevent the government from taxing me to bail out the banks.

I agree that executives are looting FTSE companies in the final hours before the iceberg, but that is a problem for shareholders who can choose not to participate, not taxpayers who can't.

Private shareholders don't hold enough of the shares to vote down remuneration excesses - they try and fail. Too many of the shares are owned by the people getting the remuneration increases or other institutions who are also aboard the gravy train.

The executives award themselves more bonuses based on their company's share performance against a group of other companies (not the FTSE as a whole). Any "dogs" in their group improves their prospects of bonuses.

Champagne corks could be popping in boardrooms where JJB were in their firm's TSR group.

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Director's total remuneration

2010 £2,593,000

2009 £1,291,000

"The Committee determined that the targets had all been met and therefore the Executive Directors were each

entitled to a bonus of 100% of annual basic salary."

http://www.jjbcorporate.co.uk/pdf/reports/2010%20-%20Annual%20Report.pdf

Amazing how failure is so richly rewarded in the capitalist system.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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