Another recurrent BBC theme at the moment is the idea that the shareholders are revolting…..against the “big bosses” and their pay and bonus schemes. In fact they are prepared to go to the ends of the Earth to prove it, in this case, Australia.
The government is to set out in the Queen’s Speech how it plans to give shareholders more power to control executive pay. Vas Kolesnikoff, chief executive of the Australian Shareholders’ Association, explains how similar legislation was introduced last year in Australia.
Now, no one opposes the idea of shareholders exercising judgement, that is a good thing. But the BBC uses this issue to advance their socialist agenda that “big bosses” are working against the interests of their shareholders, that capitalism is deeply flawed. The item on Today also expressed the concern that large companies would move to recruit shareholders off the UK where more laissez-faire approaches prevail. Such wickedness. Oh, by the way, when do License payers get to vote on the salaries of senior BBC managers and “talent”? Can we vote down what they reward themselves please?
The Arab Spring has ended so well for all concerned, hasn’t it.
Shareholders already have the power to define executive pay, it’s explicitly their right as owners of the company. What needs to happen is something to break the cosy relationship between directors and major shareholders such as pension funds. An encouragement of shareholder activism such as a few law suits from pension holders would solve the problem at a stroke. I fail to see why the government is being prompted to act because we as indirect shareholders (and I include myself here) can’t be bothered to get off our backsides and exercise rights that we already have.
‘I fail to see why the government is being prompted to act because we as indirect shareholders (and I include myself here) can’t be bothered to get off our backsides and exercise rights that we already have.
That does of course extend pretty much across the board… parenting, health, etc.
Except in areas where ‘independence’ must be protected at all costs, often uniquely, by enforced charges for services fewer and fewer seem to feel serve them well.
How about a Tv License payers revolt against excessive BBC pay & waste?
Robert Peston must be wetting himself with joy. He’s been screaming about curbing bosses’ pay for years. Although, he wants their pay cut regardless of performance. This is just the first step towards reforming the business world to better fit the Marxist valuation of labor.
Suits me.
As you say-where is OUR forum to ensure that our boated talent and pen-pushing lefties get fired or made to work for their much-cherished minimum wage?
Where is OUR accountant telling Humph or Naughtie that they can pay for the Greek timeshare or Met ticket themselves instead of them claiming it is work?..grandees and puffballs liked these haven`t worked in years…doting lefties wanting the states jacuzzi pass for as long as no-one blows them out of the water.
And no Tory brainy or angry enough to do it…desperate days!
Well in the Shareholders Spring Murdoch is found to be a ‘fit person to exercise the stewardship of a major international company’.
News Corp profit beats forecasts on cable, movies
http://www.reuters.com/article/2012/05/09/us-newscorp-idUSBRE8481CN20120509
Not that you would hear that on the Beeb.