Friday, February 24, 2012
Former Greggs Boss Attacks Boardroom Pay While A4e Initiative Falls Apart
Geordie businessman Mike Darrington(pictured), who led Greggs Bakery to prosperity over a 25 year stint with them, is using his retirement to campaign against boardroom pay. Even before his retirement in 2008 he said:
"The quantum of executive pay is excessive and must be reduced … if the current packages were halved, senior executives and bankers would still be overpaid."
Darrington does not believe such a campaign is an 'attack on business'
"It is a smokescreen and a lot of bollocks – it is the greed of the people [at the top] that is anti-business." He has labelled his campaign "pro-business and anti-greed".
Finanacil journalist Simon Bowers reckons
His condemnation of existing arrangements is the most searing criticism from the business establishment since Richard Lambert, then director-general of the Confederation of British Industry, two years ago warned bosses risked being viewed as "aliens [living in] a different galaxy from the rest of the community" because of the ever widening gulf between shopfloor and boardroom wages.
But much more embarrassing for Cameron is the fate of his poster girl. Emma Harrison (pictured) for employing private sector firms to 'sort out' the public sector. With much trumpeting this young lady was drawn into government as the 'back to work tsar' focusing on getting the 120 ooo 'problenm families' back to work. In what must be a huge blow to Cameron's glossy showmanship, the whole initiative has ended down the toilet Maybe it sounded like a good idea at the time but Ms Harrison's company, A4e, has made a cool £180m from state contracts last year including an £8m dividend for her own well stocked bank account.
PS your very interesting "ten factors" re Iran has one missing. Is your viii point too secret and/or sensitive to be released to your loyal readers? I think we should be told!
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