Thursday, October 10, 2024

The Flaws of Fat Cat Friday

Section:

Matthew Steeples suggests that ‘Fat Cat Friday’ is actually not such a bad thing

 

Today is branded ‘Fat Cat Friday’ by some in the UK. They moan that business chief executives of the top FTSE 100 companies will have received pay matching what an average worker will receive in the whole of 2019 and groan that this is “excessive.”

 

In the past, there was a time when business leaders were celebrated and saluted for creating jobs and generating wealth for our country but this morning on Sky News, Dr Faiza Shaheen of the Centre for Labour and Social Studies remarked: “All that is happening is that we are getting more and more angry… And nothing is done.”

 

This busybody then continued: “There is no one saying wait a minute and this is a group effort and money should be spread across all workers… Bosses have too much power and we need to put workers on boards… There is a huge amount of support to tax the rich more.”

 

Dr Shaheen – who pompously describes herself on Twitter as an “inequality geek… aiming to redesign the economic system to work for the many” – is entirely wrong and now, at a time when Britain is perilously at risk from Brexit, we need to encourage companies to recruit the best management possible and to celebrate their contribution to our economy. We will not achieve success by slashing the pay of those at the top just as we will not achieve success by slashing the pay of those at the bottom.

 

Facebook: @TheSteepleTimes

Instagram: @TheSteepleTimes

Twitter: @SteepleTimes and @M_Steeples

 

The Steeple Times
The Steeple Times
We research and background check our articles. If you believe we have made and error in some detail please get in touch, we seek always to write the truth and stand against a press owned by a self selected few. Please help us, we will accept all your likes, subscriptions and anonymous suport. The Editor and his team at the Steeple Times.

3 COMMENTS

  1. I am not sure on this.
    There are too many examples of mediocre CEO’s who don’t provide shareholders with a reasonable return and whose pay rises are rubber stamped by Non Execs on Remuneration Committees who don’t want to rock the boat as they too are generally getting overpaid. Much of the problem is that these CEO’s are envious of entrepreneurs who truly deserve what they get. So because they don’t have the balls to start a business try to make capital out of shareholders. The CE of Persimmon was a case in point. How on earth did he deserve £75 million?

  2. I agree with Peter. All too often poor performance is outlandishly remunerated at the expense of ripped off shareholders, who are not only paying over inflated salaries to mediocre management but also suffering from the poor performance delivered. However Doctor Shaheen has clearly not been taking her pills, since often a FTSE 100 company CEO salary divided equally between the employees would increase the tea lady’s salary by a only a few pounds a week, whilst appointing a half wit to run the company on a pittance salary (perhaps Corbyn as CEO of Unilever?) would guarantee bankruptcy and the tea lady ultimately loosing her job.

  3. We have seen far too often the frankly obscene salaries for under performing CEOs. Top twit Fred Goodwin springs to mind. He who had a thing for RBS and allowing his own ego to somehow grow the brand to dizzying heights only later for it to decend twice as quickly then forced into nationalisation and bailed out essentially and paid for by poor folk. He was later stripped of his Knighthood by the Queen no less. Yes. He was THAT good! Fair enough if they are brilliant and bring profit to a failing corporate. Then they are worth it.

Comments are closed.

£1 per week Supports The Steeple Times

Help journalism to remain honest & independent. You can make a difference to the world today.

3,573FansLike
2,068FollowersFollow
16,731FollowersFollow
4,962SubscribersSubscribe

Subscribe For DAILY NEWS

Please subscribe, like and share this unique site, it helps us tremendously. The Steeple Times in return will send you an email at noon each and everyday, that we sincerely hope you will enjoy & look forward to seeing in your inbox.

AD
Advertisement

Trending Now

Who Did Jeffrey Epstein & Ghislaine Maxwell Sex Traffic Their Victims To? Unsealing of Epstein Documents, New Book About Maxwell

As 200 pages of transcripts about the 2006 investigation into paedophile Jeffrey Epstein are unsealed, a new book – released Thursday – examines “who is permitted to speak” about sexual abuse by an abuse victim present at mucky madam Ghislaine Maxwell’s 2021 trial; One key question still remains tellingly unanswered: “Who did these two monsters actually sex traffic their victims to?”

Bonking Bone Bombards Bonny Broadstairs – Disgraced Sex Fiend Tory Peter Bone’s Lover To Stand In East Thanet

Matthew Steeples suggests the General Election is going “bonkers in Broadstairs” after the Tories replace “bionic man” Craig Mackinlay with the lover of the disgraced sex fiend Tory Peter Bone as their candidate in East Thanet; elsewhere, petulant ‘popstar’ Holly Valance may throw her hat in for Reform in Basildon and Billericay.

Margaret Burke

Former Neo-Nazi supporting HMP Holloway jailbird turned one-time Labour Party councillor Margaret Burke happily hung around with hypocrites Diane Abbott, Jeremy Corbyn and Caroline Flint; will she get a ‘photo op’ with the drippy dope Sir Keir Starmer during General Election 2024?

Most Popular Articles

The Phil & Matt Show

Phillip Schofield filmed smoking shisha with his alleged ex-lover Matt McGreevy (and pictured in bed thereafter); another image shows the pair together in photograph...

Was Mucky Minx Meghan Markle A ‘Yacht Girl’ For ‘Randy Andy’?

As author Kirby Sommers suggests that the then Meghan Markle likely spent time with Prince Andrew and Jeffrey Epstein before she met Prince Harry, we again highlight the mucky, murkiness and mendacious manner of this alleged “yacht girl.”

SchofieldLite

‘Politicalite’ suggest Phillip Schofield orchestrated his ‘mass coming out’ after a former ‘This Morning’ runner had gone to the press about a supposed relationship...

Meddling Meghan Markle Expose – Attwood, Hopkins & Steeples

Expose interview with Matthew Steeples by Shaun Attwood and Jennifer Hopkins about the former Meghan Markle watched over 73,000 times in 16 hours since it aired; Steeples condemns hapless Prince Harry and his meddling menace wife.