House prices and taxes

Cannon_Fodder

carolt wrote: »

More than that, the temptation to put fingers in the till when dealing with those huge sums if paid a pittance would be overwhelming.

Better to pay them in line with equivalent jobs in the private sector - or you get the quality of staff you pay for. :eek:

Because private companies have never suffered a corrupt employee/chief executive...?

Such short memories, some people...
http://www.dailymail.co.uk/news/worldnews/article-1094208/Superwoman-Nicola-attacks-U-S-financial-regulators-losing-14m-Madoff-funds-scam.html

"His firm was one of the top five market makers on Wall Street, and his estimated net worth grew to between $200 and $300 million. He evidently adapted easily from humble beginnings to his rise to extreme wealth and owns estates in Roslyn, N.Y. and Montauk, Long Island, as well as a luxury apartment on Manhattan's Upper East Side occupying the entire twelfth floor and valued at more than $5 million. He also owns mansions in Palm Beach and France, is a member of the Palm Beach Country Club, and owns a 55-foot fishing boat named "Bull.""
http://www.speroforum.com/a/17335/Bernard-Madoff-An-American-Tragedy

PasturesNew

macaque wrote: »

Millions of 'make busy' jobs ...

Ah, that's what the keyword is. I knew I'd find the words I needed for my jobhunting.

That's what I am looking for, I want a make busy job! Prepared to start at the bottom and make it look like I'm working REALLY hard.

PasturesNew

I'm sure there are plenty of very competent people who'd be happy to fill the boots of many of these highly paid executives.

Just because somebody's doing the job doesn't mean 100 other people aren't suitable. It usually means they knew a lot of people on the way up.

Cannon_Fodder

carolt wrote: »

But how can you justify any private individual earning more than the Prime Minister either? By which I mean salaried executive jobs in listed companies etc, not wealth creators eg entrepeneurs, who actually created something afresh.

Why are you wasting your time pontificating against overpaid parking attendants, when people who ruined our banks and took our economy with them, and are now paid out of the public purse every bit as much as those same so-called 'middle ranking administrators' (which would certainly not be my definition of a Chief Executive of a Council!), take home millions, ie easily 10 or 20 or more times the pay of our Prime Minister!

And do these 'administrators' who annoy you so get the chance to claim the enormous expenses, amounting to several times their annual salaries, that all MP's, let alone the PM, does? Do they get given free homes (several, palatial) as the PM does? Does their pension accrue at the same rate? Do they get the chance to make millions in directorships/book deals/lecture tours when they retire?

No.

What a load of nonsense.

That was quite a contructive post until you ruined it by being rude.

My position is based on the subject posed by the OP. Not nonsense.

I didn't realise I had to justify my entire outlook on every element of corporate remuneration, public service rewards, and general mis-use of wealth.

To clarify;

I don't like footballers being over-paid for what they do. I don't like Tony Blair being courted for speeches/books/directorships etc.

I don't like banks getting billlions, or bankers getting millions in salary, or traders getting millions in bonuses.

I would like it if Gordon Brown disappeared down a very deep hole in March when he loses the General Election, if he is brave enough to hold one, rather than get a penny in tours/books etc.


However, I do not sit on any boards of companies to prevent them paying multi-million pound salaries or bonues. Or on the technical staff of any football clubs to stop them recruiting.

I can choose which companies I do business with, withholding my custom if I deem it appropriate. I do not have that choice where councils are concerned, so have to pay my tax.

Which should not be as high as it is, largely due to this government but also due to inefficiency, waste, profligacy, and ineptitude.

Why do any of us waste our time pontificating on a multitude of subjects? It all disappears into the ether after a few hours, never to be seen again.

No-one made you read it.

macaque_2

carolt wrote: »

Why are you wasting your time pontificating against overpaid parking attendants, when people who ruined our banks and took our economy with them, and are now paid out of the public purse every bit as much as those same so-called 'middle ranking administrators' (which would certainly not be my definition of a Chief Executive of a Council!), take home millions, ie easily 10 or 20 or more times the pay of our Prime Minister!

If you leave a fox in the hen house, you have to expect to find chicken heads in the morning. It is the job of the government, quangos and public officials to regulate the banking industry. The regulators have allowed the banks to evade taxes, cheat the public and take wild gambles with other people's money. Instead of putting these miscreants behind bars, they are giving them £billions so that annual bonuses can be paid.

This is what the regulators earned:

FinancialvServices Authority
John Tiner Chief Executive
Salary for 2008: £445,621

Sir Callum McCarthy, Chairman
Salary for 2008: £480,553

Clive Briault Managing
Director, Retail Markets
Salary for 2008: £883,711

stephen163

It's unavoidable that high ranking council directors get paid more than the prime minister. That is the market rate for them. Now it would be a scandal if someone were to prove they were being paid more than the market rate.

Whether they deserve it or not is an entirely separate question. I've worked for a few companies and havehad some dealings with council bigwigs and in all honesty, you have to be pretty damn good at what you do to rise to that kind of level.

Cannon_Fodder

And viewing it from another direction - the origin of this Forum...House Prices.

Does carolt and others think that "salaries should only ever go up", as others used to think about house prices?

There are vested interests, with "the old boys network" operating in board rooms, the Local Government Association operating across councils to ensure "parity", just as embedded and damaging to the interests of the public in respect of tax/salaries, as Estate Agents, surveyors, property developers and BTLers were in respect of house prices.

Two wrongs do not make a right. I can only address the wrong raised in this thread. I would love to see some common sense prevail over salaries generally.

If GDP falls by, say 6%, from what is would have been without a recession, I think all directors of all companies should take a 6% pay cut.

Or, if you prefer, the % drop in their own companies share price may be fairer, as some companies have been sensible, so bankers remuneration would be down by around 90%...

stephen163

The 'stickiness' of wages is a well known phenomenon in economics. It's just a function of human nature and the modern economic system. Some would even argue it is rational. But then...just because it is, doesn't mean it should be

itsnever2lateisit?

PasturesNew wrote: »

Ah, that's what the keyword is. I knew I'd find the words I needed for my jobhunting.

That's what I am looking for, I want a make busy job! Prepared to start at the bottom and make it look like I'm working REALLY hard.

Wont work, its tough at the bottom;)

StevieJ

Yaaaaaaaawwwwn, Let us all have a go at the easy targets again, if it is such an easy well paid job there must be a huge list of talented individuals queing up to apply