31.7.03

corporate greed

What is really disturbing is the mindset of board members who see no connection at all between paying themselves over 20% a year (from an already inflated base) while keeping the earnings of the people under them who do so much of the work down to 3.2%. Do they really think that they single-handedly earn all of this rather than the divisions below them? Some of the increases are so huge that if directors gave them up they could make a material difference to really low pay at the bottom. They seem quite impervious to criticism. Indeed it seems to act as a aphrodisiac on them.

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