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Article: Big business greed must be curbed
- Article from:
- Western Morning News, The Plymouth (UK)
- Article date:
- July 13, 2006
CopyrightCopyright 2006 Western Morning News, The Plymouth (UK). Provided by ProQuest LLC. (Hide copyright information)
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What happened at DML is symptomatic of what is wrong with big
business in Britain today. It is run by executives whose salaries,
bonuses and pensions are far in excess of their worth or contribution
to businesses which are often short-staffed to pay for these
excesses.
Whenever costs go up and profits down, you never hear of
executives taking a cut in salary and perks, or shareholders willing
to accept lower dividends. The decision is always to shed more staff
and even shut down plants and ultimately close down the business -
with, of course, huge compensation and astronomical pay severance for
directors, no doubt to reward them for their failure.
There is no legal protection to speak of ...