£4,365,636, – 169 times more than the average worker in Britain today.

By tomtom

“Ay! That’s the rub”

Like the weather it probably found its way over here from the USA, as US companies decided to make hay in the UK, due to the relaxed regulatory regime. No doubt the dearth of CEOs worth their salt, on the back of this invasion, added fuel to the fire and as the roof fell in. The bottom line shot through, rocket propelled, in a fetid attempt to justify what we see today.

  How you get back to reality from this situation seems to be eluding everybody, including this High Pay Commission, for all we have seen so far is the end result with no idea how to roll back the frontierspiece? “Link it to performance,” crows Vince, ‘but that’s exactly what they did in percentage terms. But millions per annum? “Ay! That’s the rub,” as the Bard might have put it. It has to be the biggest ‘Mickey Take’ of all time.

   Though it has to be said, they only did it because they reckoned they could get away with it. Backed by the very people who stood to gain most from it for themselves and the companies they ran. So in essence, all they were doing was just to divvy up the spoils, as they all had vested interests. Golden Handshakes, Golden Parachutes and Golden Goodbyes.

  There’s not a lot more that can be said about these practices, but you would think in the real world, we could devise somekind of clawback mechanism for the rape of a company in this way. For this exactly what it amounts to, the rape of UK Plc and a few more Plcs worldwide, as the scams were globalised.

  So if the truth is, that this was a contributing factor to the crash and subsequent credit crunch. Surely there has to be some jurisdiction in which the proceeds of these alleged crimes can be repatriated. All it needs is the will and a worldwide agreement to act. Maybe the answer is a worldwide Transaction Tax and the only reason the authorities say it has to be worldwide, is the fact they think that’s an Impossible Dream, in harness with the European imbroglio.

They’re all colludin’! For they think it’s something that can readily be kicked into the long grass and I really don’t know what more can be said on this subjec matter?

Watch this space though, I’ll be back!

Tom