Fat cat of the month ... and more

Submitted by on 9 August, 2002 - 8:35
  • Fat cat of the month
  • And more fat cats...
  • Firms fail... but bonuses don't
  • Mad Frankie's pensions steal
  • Health: a bit of summer madness

Fat cat of the month: BBC Chairman Gavyn Davies

Facing accusations of dumbing down, his answer? To put his salary up with a soaraway bonus of £97,000. Clearly the basic £357,000 he gets just doesn't pay the bills.

Perhaps he should try living on the new BBC minimum wage of £11,500 a year, presented by management as an outstandingly generous offer to staff on the lowest grades. (Not that the £11.5k minimum extends to cleaning, catering or security staff.
Their jobs were privatised long ago and the BBC takes no responsibility for the miserable wages paid by cheapskate contractors.)
The licence fee. Who says it isn't great value?

And more fat cats...

Any council worker contemplating the three and a bit per cent, might like to look on these figures and be amazed.

A new survey by the Labour Research Department, entitled Eight Years of Fat Cat Fun, reveals that executive pay has soared by 16% in the last year and that nearly 500 executives in quoted companies now earn more than £500,000 a year. It proclaims the highest paid - Martin Bandier at EMI with £3.7m - and the biggest pay increases. There were a record 123 top executives who were on £1 million or more - 20 in number more than last year's survey. A further 364 directors received between £500,000 and £1 million - another record number (not just £5 an hour then?)
More information at http://www.lrd.org.uk/issue.php3?pagid=1&issueid=609

Firms fail... but bonuses don't

And nice to know there's no comeback if you mess up:
An FT investigation into the recent collapse of 25 large US corporations has found their top management amassed $3.3bn from share sales, payoffs and other rewards during the period 1999 to 2001.

Sixty-one executives and directors each collected $10m or more from companies that have filed for bankruptcy since January 2001.
More: http://www.ft.com/barons

Mad Frankie's pensions steal

You won't be too worried about a pension then?
A "radical" solution to the pensions crisis, involving all young workers having to pay up to £10 a week extra in national insurance contributions is being proposed by minister Frank (Mad Frankie) Field. He outlined a scheme which would deliver to younger workers a guaranteed retirement income of 25-30% of average earnings - between £113 and £136 a week in today's money. But there is a sting in the tail: the state retirement age for those workers would be raised from 65 to 70.

Why is it no surprise that the Pensions Reform Group, who are presenting this report to the government, has Kate Barker, of the Bank of England monetary policy committee, and shadow paymaster general Howard Flight amongst others as members?

Climate change 'could save lives'

Health: a bit of summer madness. Warmer winters could prevent deaths. Up to 20,000 cold-related deaths could be prevented every year if there is significant climate change in the UK. Warmer, wetter, winters would be good news for the elderly, and for the NHS.
More information from: http://news.bbc.co.uk/1/hi/health/2168145.stm

And all that time we were cursing Bush for pulling out of the Kyoto agreement.
However, a Department of Health backed report says the downside would be thousands more deaths from skin cancer and heatwaves. And it's no use just hiding
An Australian campaign to reduce skin cancer by persuading people to stay out of the sun may have led to vitamin D deficiencies. A study found that nearly one in four women is deficient in vitamin D. This can result in skeletal deformities in children, and muscular weakness and frail bones in adults.

Here's a radical proposal: leave the ozone layer alone and provide decent pensions and child benefits so that people can afford to heat their homes and buy nutritious vitamin-rich foods

And finally:

"Cool" people live longer. "Buy Solidarity, it's what the cool people read," according to one young comrade. You heard it here first.

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