Article: CITY SPY.(Column)

THERE'S a thing. Sir Terry Leahy gets a bonus of [pounds sterling]2 million for helping Tesco break through the [pounds sterling]2 billion profit barrier. Fine. Adam Crozier helps the Royal Mail get half a billion profit and gets a bonus of more than [pounds sterling]2.5 million, having sacked thousands of employees, delivered a declining service (the one and only daily delivery will, in theory, arrive some time before 2pm) and has increased the prices to his customers. Leahy works in an ultra-competitive industry where every penny of profit is fought for. Crozier works for, effectively, a monopoly where you can almost write your own profit figures. Where's the logic?

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