Wage restrictions for bosses?

andygb

Andy_L wrote: »

No, because their contract was not breached.

OK, well what they should have done with the banks, was to dissolve the companies, effectively making the people unemployed, nationalise the banks, and invite all employees to reapply for their jobs under the new terms and conditions.

Generali

andygb wrote: »

OK, well what they should have done with the banks, was to dissolve the companies, effectively making the people unemployed, nationalise the banks, and invite all employees to reapply for their jobs under the new terms and conditions.

That seems like a very expensive way to spend taxpayer's money to me. Most bank employees are pretty badly paid, especially in the retail banks that have nationalised in the UK.

You don't make millions if you're the bloke who fills the ATM or counts the change from the local penny arcade.

thor

Generali wrote: »

You don't make millions if you're the bloke who fills the ATM or counts the change from the local penny arcade.

Who says he won't be able to? Maybe if he was part of the old boys network he would be able to get into a position to be able to do just that. Being at the head of these large organisations is not rocket science. They just want you to believe that so they can justify their huge salaries.
Anyway I'm sure if he put his mind to it he could be equally capable of losing billions in return for a massive pension and payoff a la Goodwin!

slickflick

nearlynew wrote: »

And yet when it comes to us lesser mortals, it's all about "the dignity of working" not what you are paid.

lol so true

kabayiri

When mass automation (computerisation) came to the banks in the 90s, they had a problem.
No longer could they justify the volumes of staff to do administration tasks.

So what did they do? They became finance selling companies. From branch staff, upwards, people were driven by sales targets.

In a sales hierarchy its always the higher eschelons, the people who pull in the big numbers, who get the big bucks....

It's just a shame that Joe Public wanted a fairly efficient utilitarian bank, not really what we got.

Generali

thor wrote: »

Who says he won't be able to? Maybe if he was part of the old boys network he would be able to get into a position to be able to do just that. Being at the head of these large organisations is not rocket science. They just want you to believe that so they can justify their huge salaries.
Anyway I'm sure if he put his mind to it he could be equally capable of losing billions in return for a massive pension and payoff a la Goodwin!

I thought we were talking about people reapplying for their jobs. As there are a lot of employees this is going to be a very expensive process.

How do you think this should be paid for? More higher taxes, less spending or just bung it on the good old National Debt?

fedupfreda

andygb wrote: »

As far as I am concerned, the leader of this country (irrespective of their party, or my personal view on politics), should be paid a fair wage when compared with the people at the top of their profession in the private sector.
I personally think, that the people looking after the money, are being paid far too much.

IMHO all the MP's should be paid a LOT less than the bosses of a commercial operation, because they are not employed on level terms - if a captain of industry makes a hash of it, he has to face his shareholders at the AGM every year, and they can arrange to have him booted out. He has to ensure his company performs (but I can see the point that the likes of 'Fred the Shred' can fail and still get paid for it :mad:)

Our illustrious leaders only let us go to the polls when they have to - once every 5 years. They have unprecedented job security when the rest of us worry if our job is still going to be there the next day. And don't get me started on their pensions :mad::mad::mad: ...... If only the rest of us had that level of job security.

No - I think all MP's should be forced to spend the summer holidays working and surviving on a minimum wage job. Then see how quickly the minimum wage gets raised....:rolleyes:

torontoboy45

roosevelt came up with a novel idea as part of the New Deal back in the 1930's dustbowl depression.
fdr proposed that the max the highest paid employee (CEO, Chair, MD,etc) could legally earn would be capped at 10x of that of the lowest.

fdr understood all too well the grasping nature of the US's cap'ns of industry.
his proposal, he argued, would limit the avaricious ambitions of the bosses whilst raising the pay of their office cleaners.

Congress, of course, would have none of it but when I read of it I thought it a sound idea, if only in a recession; if the cleaner earns £12k and struggles to rub by when things get tough CEO's on £120k will still get to eat well.

Generali

torontoboy45 wrote: »

roosevelt came up with a novel idea as part of the New Deal back in the 1930's dustbowl depression.
fdr proposed that the max the highest paid employee (CEO, Chair, MD,etc) could legally earn would be capped at 10x of that of the lowest.

fdr understood all too well the grasping nature of the US's cap'ns of industry.
his proposal, he argued, would limit the avaricious ambitions of the bosses whilst raising the pay of their office cleaners.

Congress, of course, would have none of it but when I read of it I thought it a sound idea, if only in a recession; if the cleaner earns £12k and struggles to rub by when things get tough CEO's on £120k will still get to eat well.

I've studied the period a little and have had a bit of a Google and can't find any references. Got a link?

Jonbvn

PasturesNew wrote: »

For every job, there are a whole raft of people qualified, experienced, willing and able enough to move into it. There will always be other people, maybe better, who just didn't get the job the last time it was up for grabs.

I have been involved in recruiting for technical positions for a MN oil company, and the above is just not true in my experience. Some positions are extremely difficult to fill. This means that poaching of personnel from contractors and competitors occurs. Inevitably, this drives rates and/or salaries upwards.