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Fat Cat Thursday

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By (user no longer on site) OP   
over a year ago

They've made enough money since new years day that will take the rest of us a whole year to make.

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By *illwill69uMan
over a year ago

moston

What a wonderful country we live in...

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By (user no longer on site)
over a year ago

Good on them

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By (user no longer on site)
over a year ago


"They've made enough money since new years day that will take the rest of us a whole year to make. "
I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered.

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By *illwill69uMan
over a year ago

moston


"I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered. "

Or bw an insider in one of the 'financial institution' that use your and my money to buy shares in companies and then use those shares to parachute one after another financial insiders onto boards to vote themselves large emoluments and their employers further powers to raid the pension funds used to place financial institution executives onto the boards of the companies that control those pension funds...

Ever wondered how the idea of a fat cat revolving door came from?

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By *oncupiscentTonyMan
over a year ago

Kent


" ...and in addition your whole life will be devoted to the company . "

For 3 mornings per month

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By *ouple in LancashireCouple
over a year ago

in Lancashire


"They've made enough money since new years day that will take the rest of us a whole year to make. I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered. "

if only you had tried to be objective eh Pat, 'exceptional skills' sounds a bit bollocks when you look at Northern Rock, RBS and BHS where arrogance, incompetence and corporate greed are more the issue..

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By (user no longer on site) OP   
over a year ago


"They've made enough money since new years day that will take the rest of us a whole year to make. I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered.

if only you had tried to be objective eh Pat, 'exceptional skills' sounds a bit bollocks when you look at Northern Rock, RBS and BHS where arrogance, incompetence and corporate greed are more the issue.. "

Arrogance, greed and incompetence is rewarded with bonuses, including taxpayers money if/when they bollocks up.

I widh i could start a business and if i fuck it up yhrough greed, incompetence the tsxpayers will bail me out. Sound fookin dandy to me

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By *nleashedCrakenMan
over a year ago

Widnes


"They've made enough money since new years day that will take the rest of us a whole year to make. I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered. "

Well that's the theory but I'm not so sure it's working properly in practice. I've no problem with directors, or anyone, getting paid any amount of money, however large, if it's performance related however, especially in the years since 2008, I'm not convinced that overall performance has increased at the same rate as senior pay.

There is something very wrong with corporate governance and accountability that needs to be put right.

While dividends, salaried pay and overall productivity has been falling directors and top executive remuneration has been going up. Do you not see a potential problem there?

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By *illwill69uMan
over a year ago

moston

My ex brother in law is one of those fat cat directors...

In fact he is the Financial Director of the business. Prior to that he was a senior auditing accountant at Deloitte, Audit & Assurance, Internal Audit, Financial Services Advisory, Manager, Manchester...

Prior to that he was the Financial Director of a different company.

Guess where he was before that... You guessed it:

An auditing accountant at Deloitte's

Before that a trainee chartered account at Deloitte's and before that a mediocre maths student at Manchester Uni (he got a Richard)

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By (user no longer on site)
over a year ago


"They've made enough money since new years day that will take the rest of us a whole year to make. "

ALL fat cats? Which ones? At what level of remuneration do you define a “fat cat”?

Agree with your sentiment but it just seems a bit vague?

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By (user no longer on site)
over a year ago


"They've made enough money since new years day that will take the rest of us a whole year to make. I guess that those people to whom you are referring are directors of large plcs . To become a director of a plc you will have exceptional skills and in addition your whole life will be devoted to the company . Furthermore your remuneration will have to be approved by shareholders at an AGM. Those shareholders who do not approve can of course vote against the remuneration package offered. "

And, under current legislation, those votes can be, and often are, totally ignored!

“Whole life” dedicated to the company? As a famous Royce would say....”my Arse!” Most only work a few days a month...rest is spent swanning around on luxury a Yachts. (Philip Green has three of these!)

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By *illwill69uMan
over a year ago

moston


"They've made enough money since new years day that will take the rest of us a whole year to make.

ALL fat cats? Which ones? At what level of remuneration do you define a “fat cat”?

Agree with your sentiment but it just seems a bit vague?"

I believe the definition is that in the first 4 days of the year they have earned a minimum of twice the average annual wage after tax...

So that's about £12,000 a day (usually made up of directors emoluments from the 2/3/4/5/6/7/8+ companies they hold non-executive (don't do more than a short day a month) directorship they hold.

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