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October 27, 2006

Polly, Polly

Polly goes off on a rant. Yes, I know, surprising. Best answer to it is in the comments. So nothing more from me today on this subject:

(Polly)"But imagine a government that dared stand up to them. On behalf of shareholders, simple questions should be put: why do directors pay themselves obscene sums, a 28% rise in the boardrooms this year, all of it stolen from citizens' pension funds and Peps?"

This year the Guardian Media Group (Guardian, Observer & Guardian On-line) made losses of almost £50m. Alan Rusbridger, editor and board director, saw his pay rise from £373,000 to £504,000. A rise of 35%.

NB. That doesn't include his bonus nor his pension top up.

October 27, 2006 in Business | Permalink


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Polly's sentence there is quite troubling for a number of reasons.

(1) the Guardian story about the 28% increase on 2 October 2006 referred to *last* year and not *this* year
(2) shareholders *do* put these sorts of questions, they don't need the state to do it for them - as Jean-Pierre Garnier could tell you
(3) it can't all come from citizens' pension funds and PEPs unless there were no foreign shareholders of UK companies

Posted by: FactcheckingPollyanna | Oct 27, 2006 9:44:18 AM

Half a bar, half a bar
Half a bar and some,
Into the pension pot and
Alan's still right on.

Posted by: james C | Oct 27, 2006 11:02:29 AM

Nothing strange about this. Socialism has always been the classic example of 'do as I say, not as I do'.

Posted by: Pete | Oct 27, 2006 4:41:51 PM