Leslie

I agree with that too Pete, but the Family Pack is worth the money. Welcome back BTW.

Les

[Edited by Leslie - 6/1/2003 6:53:49 PM]

Dracoro

Does ANYONE actually support their 'cause'?

Personally if they do a good job etc. then you can pay them as much as you like but if they fail why on earth do they also get paid shedloads? £20m golden parachutes are just ridiculous (as is any golden parachute) but does ANYONE ANYWHERE think they should get a golden parachute?

The GlaxoSmithKline thingy was interesting in another way because almost 50% think they SHOULD get a big failure cheque. Lot's of other organisations vote for this thing all the time, the aforementioned one is a new exception.

ChristianR

iTrader: (1)

Dracoro, would you expect a footballer to give back x amount if he didn't perform well in a game?

[Edited by ChristianR - 5/24/2003 2:06:44 PM]

Dracoro

But these guys are getting paid anyway whether they perform or not(like footballers or any other profession), don't have a problem with that. However, footballers do not get golden parachutes.

Leslie

I reckon they want stuffing! Their enormous salaries, pensions and handouts are at the expense of final salary pensions for the real people who do the grafting.

Les [img]images/smilies/mad.gif[/img]

pslewis

Sure, they are lining their own pockets and don't really give a tit for the ordinary man in the street, or his pension scheme, or indeed - his working conditions

BUT

Wouldn't YOU do the same in their shoes?? Come on - we ALL would wouldn't we??!!

Imagine it, would you like a job pslewis?, we are offering £2million a year, share options worth £2million, superb pension and health benefits, also - if you are total cr4p at the job we will compensate you to the tune of £20million ...... what do I say??

'No, I think its DISGUSTING!?'

OR

'Yes, thank you very much?' Hmmmmmmmmmmmmmm tough one!!

So, DON'T KNOCK THEM!!!!

Pete

south-star

But we are not in there shoes,so wtf are you on about?????????????

corradoboy

Communism, that's what we need. LOL!

pslewis

I think this all smacks of jealousy - that GREEN monster has raised its head!!

Grow up, we would ALL do the same!! Even South-Star who can't understand the reasoning (so will NEVER earn a decent wage!!)

Leave them alone, we need fat cats so we can get chubby on their left overs!! Imagine if the Fat Cats were only allowed to earn something poxy like, what? £80,000??? that would mean that I would have to earn an even more poxy, what? £40,000??? NO THANK YOU!!!

That wouldn't even encourage me to pull my socks on!! So, I would lay in bed all day and the country would lose a great technical mind!!

So, its all well that ends well!!

Pete

south-star

No-ones on about a measly 80k,wouldn't get out of bed for it myselfi think we are on about £400 MILLION A YEAR share options and the like.

Dracoro

pslewis - Jealous - we all are(get paid loads even if you're crap and get sacked!) but that does NOT make the situation right or invalidate my opinion. Hell, we'd all love to get paid millions, who wouldn't, but I do NOT have a problem with paying fat cats millions and millions IF they are good.

As I have said before (does anyone listen? ) I'm happy for them to earn as much as they like. The problem I have is getting paid millions for FAILURE. you say we get chubby on their leftovers, true but if they FAIL the opposite is true (your finds/shares lose value). Just imagine if your pension fund(or shares etc.) came to sod all, you'd be p1ssed off and the fat cat is ultimately in charge of your funds yet he makes millions! not quite right is it? If the funds/shares etc. does well then pay them all they want (which they get anyway) but if it fails they should not be 'rewarded' for wasting YOUR money.

south-star

Is the share price of a company the sole indicator of success/failure though?

Dracoro

It's combination of things but being sacked is usually a good indicator

Ralf

Reminds me so much of Orwell's Animal Farm

the point is, the fat bars... cats do earn for more than is adequate. Not that I would decline such an offer, most probably.

How did this develop in the first place?

Leslie

I think you are taking the easy way out and making an assumption Pete. No I would not accept the obscene salary and benefits that these greedy people are prepared to take at the expense of others lower down the scale but who almost certainly work much harder and more effectively. My conscience would not let me live happily under that situation and I bet there are many who feel the same way.

Les

RB5320

the thing is though, these "fat cats" are generally brilliant businessmen who have risen to the top. The only reason they get these payouts is because they are written into their contract in the first place. The companies are so desparate to get them that they are prepared to take a risk, based on the cat's previous performance. For every one of these fat cats that hits the headline with a million pound parachute, there are probably 10 others who have similar terms but have succeeded - ie turned businesses around and made massive profits for the companies concerned. But we never here about the success stories because who cares about that? It is only the supposed scandals that sell papers.

Steve

south-star

Of course RB,they are better than the average worker,but the question is "how much better".
Japan has one of the lowest boss/worker pay differentials in the world yet you would hardly say that is a failing economy.

Diablo

South star - if share value is anything to go by the Japanese economy is NOT good right now....

I agree - pay them millions if they succeed for their shareholders (because thats where their duty of care is) but if they fail, there should be no massive payout.

With reward should come risk - do well, get paid massively, fail and walk.

But, what you are all missing, is that the so called "fat cats" only agree to accept those positions in many cases on the basis of contracturally binding termination payments. Its what has to be done to attract them/get them to stay.

So its not that simple....

south-star

Diablo.....i just knew someone would say that.
Why does everyone take so much notice of share price.Donald Trump once said that Wall Street is only one step down fron Las Vegas,and i agree with him.
Japan is in debt because of bad lending,and the Japanese stock market is on a 15 year slump..BUT...they still have one of the best educated/hardest working/make great products/low crime economies in the world.

Back to fat cats,they only get paid so much cos we allow them to.

pslewis

Just got back in after a week away - this hasnt set the BBS alight like I hoped!!

The fact of the matter is that if companies want soemone badly enough they will pay whatever it takes to get them there - even if that means paying them a 'Failure Bonus'!

Look at Beckham and Co., Pop-Stars too!! They are paid HUGE amounts BUT make absolutely NOTHING!! Captains of industry employ 1,000's of workers!!

Pay them what they want if they are what you want - simple.

Thoses who don't earn fat wages do so for a reason - the reason is VERY RARELY, "I think its immoral!!!" Imagine? work for 5years get sacked and retire in luxury!! will do me fine thank you very much!!

Pete

south-star

If you think footballers earn too much,dont buy Sky........I dont buy Sky.

pslewis

I ain't got no SKY!!

The moment they started charging EXTRA for fights and 'special' matches was the time I swore NEVER to line their pockets with my money!!

I mean, isn't it about £35 a month for all the stuff AND THEN THEY HAVE THE BL00DY CHEEK TO CHARGE MORE!!!!!

Pete

south-star

Wow....we agree on something...

..