Friday, April 21, 2006
Fat Cats Get What They Don't Deserve: Part II
She also points out that in 1979 chief executives paid themselves 10 times more than their workers; now the multiplier is 54. What's more these huge increases have come without any concomitant increase in productivity. It's merely 'a mutually agreed cartel, all racing to prove they are top dog for no extra productivity or risk.' Despite the facile arguments deployed by executives about competing in a high wage environment, only 4 per cent of the workforce earn over £52,000 a year while two thirds earn less than the average £28,000.
She also finds that, despite recent increasses and more favourable pensions, public sector workers still get less than their equivalents in the private sector. She finishes off by demolishing the idea that performance related pay actually improves performance in any way. It seems this comes most easily when employees feel they are respected and working as valued members of a team in which their voice is heard. Polly has nothing to say in her piece about Cherie Blair charging the party astronomic fees for her hair dos during Labour's election campaign. Charging, I suppose, was justified, but all that money, just to do her not especially attractive hair, does rather nail down the impression of a lady with very non socialist lifestyle tastes .
When the Daily Mail is rampaging on about MPs salaries and expenses it's worth remembering that its editor gets paid about one million British Pounds a year just for that job (he has others) and claims about the same amount again in expenses.........
Don't agree with your latest post on Cherie Blair, incidentally. I have no sympathy for her; she has, as you say, a "problem with money". So does Tony, Mandleson, Blunkett...etc, etc. It's the New Labour ethos. I can't believe Mrs. Attlee spent quite so much on her hair.
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