a company paying themselves huge bonuses while the company then go,s bust is tantamount to theft.

surely any contractual wages should be paid but nothing above and beyond that,

those involved should be arrested.

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buttons67
a company paying themselves huge bonuses while the company then go,s bust is tantamount to theft.

surely any contractual wages should be paid but nothing above and beyond that,

those involved should be arrested.

100% agree. It's rife in industry these days. There's a clique of perennial failed directors who keep on picking up roles because they have friends in high places. They find ways of disguising failure and incompetence as success until, all of a sudden the company fails. A few prison sentences might put a stop to it. It could be viewed as deception and misrepresentation.

I believe The UK Financial Conduct Authority are considering an investigation.

My thoughts are with the employees (excluding the fat cats) and their families.

hope they do investigate, these fatcats are taking money that dosent belong to them, there should be laws preventing bonus payments if a company is in debt.

time a few of these thieves got jailtime.

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buttons67
hope they do investigate, these fatcats are taking money that dosent belong to them, there should be laws preventing bonus payments if a company is in debt.

time a few of these thieves got jailtime.

Not too much was done with the directors in the banking / asset management industry. Soon they were back to their fat bonuses. The bill for the collapse was left to the tax payers.

the greedy face of capitalism, its what brings empires down.

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buttons67
the greedy face of capitalism, its what brings empires down.

Got a better solution then.

You know capitalism is above the law.



Edited 1 time(s). Last edit at 2019-09-24 20:17 by Nate.

capitalism is above the law, dosent make it right.

people having wealth they have never earned, while those that created their wealth get shafted.

Yeah, governments should control and manage all companies. That would make everyone happy.

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buttons67
capitalism is above the law, dosent make it right.

people having wealth they have never earned, while those that created their wealth get shafted.

Welcome to life.

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buttons67
capitalism is above the law, dosent make it right.

people having wealth they have never earned, while those that created their wealth get shafted.

Good, well run and profitable companies are to be encouraged and are an essential part of a thriving economy . How they choose to reward their employees is their own business. As long as it can be funded by profits then all well and good.

What we are talking about here is a very poorly run company having gone bust and the incompetent directors responible for that event having awarded themselves huge bonuses despite very poor performance. These bonuses will be paid for by the shafted creditors and companies left behind.

There needs to be much stronger corporate governance to prevent what is tantamount to theft. For example, all Dividends and Bonuses must be covered by profits and said profits must be independently verified by strong accountants and not a bunch of nodding dogs.

I really do hope this investigation goes ahead and said manifestly rubbish Directors are forced to pay back their bonuses. It would deter others from following suit.



Edited 1 time(s). Last edit at 2019-09-24 21:55 by grzegorz67.