“More than 100 managers join Persimmon’s bonus gravy train with a £300m windfall (and, yes, most of them are men)”

Not saying this is the same, but don’t a lot of companies take out money just before they crash …BHS, Carillion …

And is this a proper time?

https://eastdevonwatch.org/2018/06/29/new-facebook-page-avoidpersimmonhomes/

“A group of 130 bosses at housebuilder Persimmon are set to share a £300 million bonus bonanza in the biggest windfall in the history of the industry.

The unprecedented payout is part of a notorious bonus scheme that is delivering £75 million to the chief executive Jeff Fairburn.

Tomorrow’s payday will hand 130 senior managers an average of £2.3 million each. The handout is the second and largest part of an incentive scheme, that will take the total for managers below the board level to £500 million.

They previously shared in a £200 million payout over Christmas which was overshadowed by the storm over Fairburn’s £50 million. …”

http://www.dailymail.co.uk/money/news/article-5904223/More-100-managers-join-Persimmons-bonus-gravy-train-300m-windfall.html

One thought on ““More than 100 managers join Persimmon’s bonus gravy train with a £300m windfall (and, yes, most of them are men)”

  1. Capitalism only works in a properly operating market where competitive pressures keep prices to the minimum. When the competitiveness is absent, excesses and greed prevail, to the detriment of the populace.

    If we want to live in a capitalist society, then it is the role of government – which after all is supposed to be the servant of the people not the puppet of the capitalists – to ensure that markets are working properly, that competition exists to keep prices low for the population, and if not to regulate and legislate to prevent the excesses.

    Well – that’s the theory. But the 40 years of neo-liberalism has allowed this process to fail utterly. And this is why we have seen the rich get 3x richer and most recently the levels of excess in developer bonuses that were last see in the film “Wall Street” whose motto (you may remember) was “Greed is good!!”

    When the Conservative Party is funded by a few ultra-rich who dictate policy by threatening to stop donating (or as I call it “investing”) if they don’t get the policies they want, should we be surprised.

    Conservatives – for the few ultra-rich, not the many

    Like

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