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City Directors' Pay Up 50%

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Discuss... Lol........!! *cries*

http://www.bbc.co.uk/news/business-15487866

These Fat Cat scum are worse than the thugs who controlled Libya or Zimbabwe.

If we actually had capitalism operating we would see a proper market for these 'Fat Cat' jobs, banks would be allowed to fail and multimillionaires would be expected to pay their taxes.

Someone on the DMs article comments quoted Orwell;

If you want a picture of the future,

Imagine a boot stamping on a human face - forever...

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We could do with a little bit (just a little bit mind) of Marxist terrorism. Fred still isn't dead is he? Amazing. He should have had it in the head by now.

Or else use democracy to enact postive change. No, really.

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We could do with a little bit (just a little bit mind) of Marxist terrorism. Fred still isn't dead is he? Amazing. He should have had it in the head by now.

Or else use democracy to enact postive change. No, really.

Democracy is your enemy. The pay boards of these people are a democracy...they meet, they vote, its all fair.

Except the members are all execs themselves.

Its like having two wolves and a sheep voting for whats for dinner.

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How many productive jobs have these Directors lost or created in a year? How has it increased Britains competitiveness? I would think its all negative.

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When you work behind the counter you can help yourself to as many sweeties as you like.

I give it another year and news like this will not be reported, after orders from on high. :)

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At the same time everyone else is getting a pay cut or losing their job, QE only seems to benefit those at the top.

Of course, that was the intention. Now, the big question is: When will the general public work this out? (if ever)

This 'occupy' movement does seem to me to be the result of a start of a groundswell of so-far uncoordinated and unfocussed discontent amongst the masses. I think people are starting to wake up but of course everything will be done by those at the top to quash it.

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Bloo you can't say that about democracy because my grandad fought the Nazis for the sole purpose of protecting it. Nothing to do with Empire you see.

Which brings me to a thought I had yesterday. I don't often get them, thoughts, so feel free to shoot it down.

The system at the moment is run fascistically. OK we have an NHS and a welfare system and diversity officers but financially it's pretty much wall to wall fascism. I wouldn't mind so much if this was done along nationalist lines where all the anti-democratic, anti free-market manipulation was done for the benefit of the people. But it's not. All the bailouts and manipulations seem to benefit the elite who are supra-national due to their great wealth. The ordinary prole scum (me and you) will likely never benefit.

I bet these 99%ers - all lefties no doubt - would love a bit of proper fascism. Probably not best to sell it as fascism though. All that burning of Jews and militarism damaged the brand somewhat. But we're already more than half way there - seems a shame not to go whole hog after most of the hard work has been done.

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Whilst I totally disagree with the ridiculously cosy arrangements of how 'executive pay' is set using comedy third parties whose job is to justify as much money as possible.... the articles are basically rabble rousing

Base pay is up less than the doleites are getting

the bonuses are up 27% - reflecting that they were set post credit crunch and were achievable targets - and yes, I mostly disagree on what those targets are.

Share option exercises will mostly be because these were share options granted at the bottom of the market and the FTSE is up a lot ove the period

How many of you would be playing hell if the banks issued a load of cheap options to the bankers instead of cash, dependent on the future share price of the bank - saves cash and makes them work to improve the bank's performance - call it 35p a share in LLOY - and it goes up to £1.00 a share. They just tripled their bonus ... boys

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Of course, that was the intention. Now, the big question is: When will the general public work this out? (if ever)

This 'occupy' movement does seem to me to be the result of a start of a groundswell of so-far uncoordinated and unfocussed discontent amongst the masses. I think people are starting to wake up but of course everything will be done by those at the top to quash it.

Last time around, as it were, we has a nascent union movement, and that took a very long time to go from disorganized workplace disruption to full political organization. Which is nowadays a bit fossilized.

And it was opposed ferociously at every step, usually with dire warnings about the economic catastrophe that would certainly ensue were we to do terrible things like ban child labour, restrict people to 12 hour days, have paid holiday (horror!) or actually educate the proles past their station..

The observation that a more equal income distribution seems to correlate with a higher economic growth rate and therefore more for everyone (including the already rich) tends to be suppressed. Almost as if those on top were more concerned with maintaining the differences than getting richer..

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Company profits must be up 50% then this year.

No, you see that we need to give them 50% pay rises now to motivate them to increase profits by 50% next year, which they will certainly do unless some completely unforeseen circumstance (Earthquake, economic collapse, meteorite impact, reality, etc) intervenes. In which case they'll need another 50% hike to get over the stress.

You may see a patten here. If so, that means that company executives need another 50% rise.

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I have no issue with these people earning loads - as long as when they fail they dont get a goodbye wad of cash and in years they underperform they get little.

Interesting to see details of this in the metro this morning. Actually a huge gap between the top and bottom even in this area. Top boys were getting 10 - 15 million for the last year. Whilst those at the 'bottom' of the FTSE 100 were only getting a few hundred thousands. Which when you think about the responsibility they have and the people they are in charge of - is really not very much at all.

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Last time around, as it were, we has a nascent union movement, and that took a very long time to go from disorganized workplace disruption to full political organization. Which is nowadays a bit fossilized.

And it was opposed ferociously at every step, usually with dire warnings about the economic catastrophe that would certainly ensue were we to do terrible things like ban child labour, restrict people to 12 hour days, have paid holiday (horror!) or actually educate the proles past their station..

The observation that a more equal income distribution seems to correlate with a higher economic growth rate and therefore more for everyone (including the already rich) tends to be suppressed. Almost as if those on top were more concerned with maintaining the differences than getting richer..

Problem with the Unions is that they only look after their own - don't seem to give two hoots for eg) untrmenschen in Tesco, scum working for SMEs. The state should act as a union but instead of gold plating public sector pensions they could gold plate everyone's.

Why not do what the ozzies do and compel everyone to put a minimum of 7% of income into a pension? That may or may not be the solution but it would serve as a useful start to a rational discussion.

N.B. What the Chartists did is completely different to what Unions do nowadays. I am all for the Chartists - good on them.

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I must say I secretly admire the bare faced gall of executives who defend their pay by reference to American remuneration. They forget to tell us that that benchmark depends on performance measure which are largely inflated by taxpayers' / savers' largesse or fabricated by our useless accounting standards.

Take J P Morgan. They apparently made $4.3bn net profit. Hey Jamie D, help yourself to a fat bonus! say some stupid shareholders. But wait up. Half that profit came entirely from a bizarre accounting practice:

Results may include gains taken under a U.S. accounting rule known as Statement 159, adopted by the Financial Accounting Standards Board in 2007, which allows banks to book profits when the value of their bonds falls from par. The rule expanded the daily marking of banks trading assets to their liabilities, under the theory that a profit would be realized if the debt were bought back at a discount.

IN other words, they mark to market their own debt, allowing them to claim they owe less and thus book a profit: wut? That would be fine if they actually bought the debt back, but this is a pure paper profit and one which they clearly can't afford, as a business, to actually take and make. The fact that the debt price is depressed tells you that much, the very thing alllowing them to make the claim!!! :blink:

As if that weren't bad enough, whils they are busy marking to market their own debt, they resolutely resist marking to market others' debt that sits on their books as 'assets'. If they did their equity would vanish and bankruptcy would beckon. yet companies like GM, with bonds lodged on the balance sheets of banks are happily doing the same Sataement 159 trick!!! :blink:

It's a pure mind f&*^

Edited by Sledgehead

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I have no issue with these people earning loads - as long as when they fail they dont get a goodbye wad of cash and in years they underperform they get little.

Interesting to see details of this in the metro this morning. Actually a huge gap between the top and bottom even in this area. Top boys were getting 10 - 15 million for the last year. Whilst those at the 'bottom' of the FTSE 100 were only getting a few hundred thousands. Which when you think about the responsibility they have and the people they are in charge of - is really not very much at all.

I wonder how much more difficult it is to run a company over a country. Perhaps our MPs and Ministers need far higher salaries.

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Theres a huge marketing opportunity here for a socially responsible company. They could have an advertisement like"this company let go 2000 employees and raised its executives pay by 100%, we didn't". (I guess you could also say the same about the public sector.)

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Same old issue.

Stolen shareholder votes. Insurance companies and unit trusts and pension funds, they all get to vote with other people's shares.

This should be stopped, only the individual who owns the shares should be allowed to vote. I bet that most of the true beneficial owners of these shares would be shocked to find out how their votes have been used supporting overpaid execs. This is one area that desperately needs the law to be changed.

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  • 276 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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