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[Banjax]

81 times I don't think they shouldn't be paid well, but the average chief executive in the UK now earns 81 times the average wage of their employees.

10 years ago it was 47 times (which was bad enough). Surely we can't be far off an uprising? what does it take? Vive La Revolution 


On causes of the French Revolution:

" The inefficient and antiquated financial system was unable to manage the national debt, something which was both caused and exacerbated by the burden of a grossly inequitable system of taxation. Meanwhile the conspicuous consumption of the noble class, especially the court of Louis XVI and Marie-Antoinette at Versailles continued despite the financial burden on the populace. High unemployment and high bread prices caused more money to be spent on food and less in other areas of the economy."

sound familiar? 




let's impose a reasonable ratio, let's say no CEO can earn more than 20 times the average wage of their employees, thats reasonable and the fat cats still get a hefty wage without the gross disparity - what shareholder would disagree? what voter?

do that and you'll have my vote (yes, even the tories (safe in the knowledge this cannot happen in our reality))

[Richie London]

the british wont unite against anything. most will just moan and thats the end of it. look after no.1. but i reckon there will be civil war in this country within 10 yrs when people will of had enough of the foreigners  dictating what we can and cannot do in our own country to suit them.

[Nickbat]

I notice that Banjax does not show a link for this information, nor does he point out that there are many, many, CEOs in the public sector and, in a high number of cases, they are paid much, much, more than their private sector counterparts.

As always, it's a case of being sparing with words in order to imply a message...in this case, horrid capitalism, when actually it should be horrid socialism.

 

[Sixstring]

The CEO of our company (no names, too risky) has just "retired" and "stepped down" on a golden goodbye of two years wages. He walked away with £560,000......

and that was without the six-monthly bonuses he used to get, his 09 reg BMW car, his shares dividend, and his allowances for mileage and hotel stays, etc.

How the other half lives...................

[Banjax]

I notice that Banjax does not show a link for this information, nor does he point out that there are many, many, CEOs in the public sector and, in a high number of cases, they are paid much, much, more than their private sector counterparts.

As always, it's a case of being sparing with words in order to imply a message...in this case, horrid capitalism, when actually it should be horrid socialism.

 

I'm here Nickbat, who are you talking to? 


First off, apologies, I forgot that OOF is a reference tool for studies, not a public forum 


Richard Lambert (Director General of the CBI, former Financial editor on the.....whats the name of it....thats it....the Financial Times - you know the fella?) in a speech to the RSA made mention of it - it was widely reported in the "quality" media - surprised you didn't catch it....still - I've righted that little wrong. His information.....I believe (OK, I know) was taken from the IDS report.

Actually, the 20 times the average worker wage limit for CEO's comes from that well known socialist  John Pierpont Morgan, you know the guy formed a bank I think............


Sorry Nick, I apologise my sources aren't quite as respectable as "random loonball blog-guy" that you delve into regularly...but still - one does ones best 


keep on cuttin an pastin  8-)

[Pitchfork]

If a CEO produces strategies that improve a company's performance, not just for the benefit of shareholders but employees as well, then he or she deserves whatever the board (scrutinised by the audit committee) decide they should be paid. Good performance will be recognised by the competition who may well try to tempt them away, so the recompense must be sufficient to retain them.
Remember, salaries & benefits are all taxed heavily.
In recent times many CEOs have foregone performance related bonuses & (as in the case of my own CEO & her board) taken a substantial salary reduction to show solidarity with employees whose salaries were frozen during the recession

[STMO999]

There was a clip on the telly the other night of JFK's famous speech: "Ask not what your country can do for you...."
I imagined thousands of asian faces looking at the box and thinking "Huh? My country?"

[Nickbat]

I'm here Nickbat, who are you talking to? 

You weren't earlier, that's why I used the third person. Like you do sometimes. 

In fact, CEOs of private companies in the UK are paid around the going international rate.

UK CEOs earn close to the international average

The top earners are US CEOs who receive more than twice as much as their UK counterparts. Put differently, CEOs of FTSE-100 firms earn about the same as US CEOs in the S&P Small-Cap index

http://www.manifest.co.uk/reports/remuneration/pope_and_young_executive_compensation.html

You always lambast me for cutting and pasting, but I can't see anything wrong in quoting articles...

[Lizzie_Zoom]

I'm here Nickbat, who are you talking to? 

You weren't earlier, that's why I used the third person. Like you do sometimes. 

In fact, CEOs of private companies in the UK are paid around the going international rate.

UK CEOs earn close to the international average

The top earners are US CEOs who receive more than twice as much as their UK counterparts. Put differently, CEOs of FTSE-100 firms earn about the same as US CEOs in the S&P Small-Cap index

http://www.manifest.co.uk/reports/remuneration/pope_and_young_executive_compensation.html

You always lambast me for cutting and pasting, but I can't see anything wrong in quoting articles...

All depends who writes them Nick!!

But no, before you have a go, this link is a good one! 8-) 8-) 8-)

[Del Boy]

the british wont unite against anything. most will just moan and thats the end of it. look after no.1. but i reckon there will be civil war in this country within 10 yrs when people will of had enough of the foreigners  dictating what we can and cannot do in our own country to suit them.

I agree.

[Lizzie_Zoom]

the british wont unite against anything. most will just moan and thats the end of it. look after no.1. but i reckon there will be civil war in this country within 10 yrs when people will of had enough of the foreigners  dictating what we can and cannot do in our own country to suit them.

I agree.

Hopefully the forthcoming Conservative Government will work hard to address the many, many issues facing our country. 

A revolution is something we probably do not really desire, but yes it will come if the leaders of the country do not start to respond to the common will.  Unfortunately though, with current feelings on immigration, employment, and national pride, it could well form a right wing revolution.

In history we have come very close to a revolution, but the government of the day were always one step ahead of giving just a bit of what the people required.  Can they do it this time??  Time will tell!

[albitz]

If a CEO produces strategies that improve a company's performance, not just for the benefit of shareholders but employees as well, then he or she deserves whatever the board (scrutinised by the audit committee) decide they should be paid. Good performance will be recognised by the competition who may well try to tempt them away, so the recompense must be sufficient to retain them.
Remember, salaries & benefits are all taxed heavily.
In recent times many CEOs have foregone performance related bonuses & (as in the case of my own CEO & her board) taken a substantial salary reduction to show solidarity with employees whose salaries were frozen during the recession

Well said. ...........The other indisputable fact that is revealed in this info is that despite all the rhetoric from Bliar and Brown, the rich have got much richer under Nu Liebore.
I do wince a little at this politics of envy though, find it juvenile tbh.

[Banjax]

If a CEO produces strategies that improve a company's performance, not just for the benefit of shareholders but employees as well, then he or she deserves whatever the board (scrutinised by the audit committee) decide they should be paid. Good performance will be recognised by the competition who may well try to tempt them away, so the recompense must be sufficient to retain them.
Remember, salaries & benefits are all taxed heavily.
In recent times many CEOs have foregone performance related bonuses & (as in the case of my own CEO & her board) taken a substantial salary reduction to show solidarity with employees whose salaries were frozen during the recession

Well said. ...........The other indisputable fact that is revealed in this info is that despite all the rhetoric from Bliar and Brown, the rich have got much richer under Nu Liebore.
I do wince a little at this politics of envy though, find it juvenile tbh.

politics of envy from the head of the CBI?

i agree with you tho albs that the gap between rich and poor has shamefully increased under new labour - i'd expect it of the cons, not the lie-bores 

[KW]

Why should another mans wage be of concern to anybody?

If someone decides to knuckle down and work towards a qualification that will contribute towards them having a decent life, then fair play to them.

By the same token, if people want to laze & sod about and expect the taxpayer to support them, then they shouldn't be surprised when they can't afford a gallon of petrol for the f*cked Mondeo they have abandoned outside their property.

[cem_devecioglu]

81 times I don't think they shouldn't be paid well, but the average chief executive in the UK now earns 81 times the average wage of their employees.

10 years ago it was 47 times (which was bad enough). Surely we can't be far off an uprising? what does it take? Vive La Revolution 


On causes of the French Revolution:

" The inefficient and antiquated financial system was unable to manage the national debt, something which was both caused and exacerbated by the burden of a grossly inequitable system of taxation. Meanwhile the conspicuous consumption of the noble class, especially the court of Louis XVI and Marie-Antoinette at Versailles continued despite the financial burden on the populace. High unemployment and high bread prices caused more money to be spent on food and less in other areas of the economy."

sound familiar? 




let's impose a reasonable ratio, let's say no CEO can earn more than 20 times the average wage of their employees, thats reasonable and the fat cats still get a hefty wage without the gross disparity - what shareholder would disagree? what voter?

do that and you'll have my vote (yes, even the tories (safe in the knowledge this cannot happen in our reality))

 

now the facts.. look for higher points in the pyramide..

a CEO is just a sergeant.. and he/she is under command..