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    Clegg to "get tough" with boardroom excesses.

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    papa_umau
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    Clegg to "get tough" with boardroom excesses.

    Post by papa_umau on Sun 04 Dec 2011, 12:37 pm

    Nick Clegg told the BBC's Andrew Marr that the coalition were planning to "get tough" with boardroom pay excesses as he thinks that what goes on in remuneration committees should be much more transparent and we should be able to see when top executives get heavily rewarded when their company was not successful.

    After top boardroom salaries had went up by more than 50% last year he saw this as - a "real slap in the face" for workers, many of whom were seeing their pay frozen.

    Read more about this statement HERE




    I wonder why it was not the Prime Minister himself that made this public statement ?

    Is it maybe because he both does not want to be seen to be down on the fat-cats and he also wants Clegg to suffer from any fallout that may occur as a result of this statement ?

    It IS - in my opinion - just another example of him using Nick Clegg as the "acceptable face of Conservatism" once again.

    Anybody ?


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    zathrus
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by zathrus on Thu 08 Dec 2011, 3:41 pm

    I will celebrate it when I see it !

    I cannot see Cameron or even Clegg attacking the big-money guys like that.

    If they did they would pay heavily for it by losing support from the CBI.
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    papa_umau
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by papa_umau on Fri 09 Dec 2011, 12:36 pm

    I do think that they are caught between a rock and a hard place over this as they are well aware that public opinion is strongly against the indecent - nay, even obscene - monies that these greedy chancers at the top keep getting while the rest of us are suffering under a draconian and punishing drive to get our debt problem down.

    A serious vote-loser if I ever saw one !

    The thing is that the system that the incumbent CON-DEM coalition are pushing is not even doing this as our borrowing debts have actually risen rather than falling in the period since they started to hit us with this austerity drive.

    We are suffering badly but the protected ones at the top have no clue what it is like to be us !


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    Angie baby
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by Angie baby on Sat 10 Dec 2011, 1:05 pm

    Papa, I just don't believe it and I will not accept that they are going to hammer the fat-cats until I see it done.
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by riders_on_the_storm on Mon 02 Jan 2012, 6:07 pm

    All that will happen is the costs of taxing fat cats or whatever costs they are going to levy will be passed straight down the chain to the man on the street. I don't know how anyone can't see that? It's another sneaky tax us more by proxy stunt Shocked

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    Re: Clegg to "get tough" with boardroom excesses.

    Post by papa_umau on Tue 03 Jan 2012, 2:10 pm

    Hi Andrew, I am afraid that you are right there as that is exactly what has happened at times previous to this.

    Actually I will not mind all that much if I see the fat-cats actually getting less so long as they don't just move their bonus system straight onto their basic salaries or the amount of shares they get.

    As has once been said...."There are many different ways to skin a cat" and the politicos that use all of these "ways" to bring the fat-cats to justice will be the ones that I will favour with my vote next time round.

    Yes, this cause is probably THE most important one that is waiting to be applied so that the ones at the middle and bottom at last feel some justice is being done in their names.


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    zathrus
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by zathrus on Wed 04 Jan 2012, 12:04 pm

    Yeah but, no but, yeah but....It is going to take a very brave and open-minded leader and government to actually do this so that it works and so that the cost to these greedy fools is not passed on to the rest of us. It can be done, but I don't think it will be done.
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by riders_on_the_storm on Sun 08 Jan 2012, 9:53 pm

    I fail to see how any politician will implement a serious curtailing of big bonuses when it is the politicians that are in hock to the big financiers? Sure they will butter up the argument at face value to the bread and butter public to make it look good, but as I said all that will happen is we will pay more, and the big financiers will shuffle a few pieces on the board and make their activities even more secretive and hidden from public view - everyone (except Joe Soap) wins.

    Andrew
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    papa_umau
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    Re: Clegg to "get tough" with boardroom excesses.

    Post by papa_umau on Mon 09 Jan 2012, 1:10 pm

    The thing is Andrew that Clegg previously said it and just yesterday, to my surprise, Cameron said it too and this raises the question......Will they actually do something directly in order that this running sore of unfairness against the ordinary people of Britain is actually fixed.

    Cameron made it clear in his speech yesterday that he was going to stop the big money paid to executives if the companies or corporations that they head are actually failing instead of being successful. In other words he made it clear that reward should not be made for failure.

    He also said that the workers and the shareholders are going to have a greater say in what goes on in the remuneration committees and so that the veto power of the shareholders was strengthened.

    It will be interesting to watch and see exactly how this new set of ideas of Cameron will actually work.

    Maybe I am just being my usual cynical self but I do not expect much to come from this rhetoric.

    It was reported in my newspaper this morning that there are plans afoot to pay Stephen Hester, the CEO of The Royal Bank of Scotland, around 7,000,000 next year even after the share values of the bank are plummeting and it is now almost completely owned by the British taxpayers who bailed it out just a few years ago.

    Maybe this would be a very good first place for Cameron to start eh ?


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