British Gas boss takes £3.7m bonus

Eldi_Dos

As someone who has been waiting since last october for a refund of credit this really rankles me.
The fiasco of their switching accounts to new system should have had bosses hanging their heads in shame not awards of disgraceful bonus.

MattMattMattUK

Eldi_Dos said:

As someone who has been waiting since last october for a refund of credit this really rankles me.
The fiasco of their switching accounts to new system should have had bosses hanging their heads in shame not awards of disgraceful bonus.

The boss of Centrica, not British Gas, received a performance related bonus as head of a multi-national company which had significantly increased profits on it's global operations. 

Eldi_Dos

Increased profits by holding on to my money

matt_drummer

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

matt_drummer

His bonus spread over 10 million customers has cost each one 37p, it's irrelevant!

MattMattMattUK

matt_drummer said:

His bonus spread over 10 million customers has cost each one 37p, it's irrelevant!

Or it represents 0.1% of their global profits in one year, when he has declined a contractual bonus for the last three years. 

Eldi_Dos

matt_drummer said:

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

Tosh, if the money is not lining my pockets who's pockets is it lining

MattMattMattUK

Eldi_Dos said:

matt_drummer said:

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

Tosh, if the money is not lining my pockets who's pockets is it lining

It is not "lining" anyone's pockets. As has been explained above, if it is a genuine credit you are due as a refund it will be sat as a liability on their balance sheet until it is refunded, it does not increase their profit. 

Eldi_Dos

MattMattMattUK said:

Eldi_Dos said:

matt_drummer said:

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

Tosh, if the money is not lining my pockets who's pockets is it lining

It is not "lining" anyone's pockets. As has been explained above, if it is a genuine credit you are due as a refund it will be sat as a liability on their balance sheet until it is refunded, it does not increase their profit. 

As explained above they have owed me money since last october, their switch to new accounts system is a fiasco and their boss is awarded large bonus, you may think that is mair tosh but I do not.

matt_drummer

Eldi_Dos said:

MattMattMattUK said:

Eldi_Dos said:

matt_drummer said:

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

Tosh, if the money is not lining my pockets who's pockets is it lining

It is not "lining" anyone's pockets. As has been explained above, if it is a genuine credit you are due as a refund it will be sat as a liability on their balance sheet until it is refunded, it does not increase their profit. 

As explained above they have owed me money since last october, their switch to new accounts system is a fiasco and their boss is awarded large bonus, you may think that is mair tosh but I do not.

They owe you money, therefore it is not included in their profits but in their liabilities, pretty basic accounting fact!

The bonus or profits have no bearing on your refund.

MattMattMattUK

Eldi_Dos said:

MattMattMattUK said:

Eldi_Dos said:

matt_drummer said:

Eldi_Dos said:

Increased profits by holding on to my money

Your money is on their balance sheet as a creditor.

It is not in their profit and loss account as income.

Your `excess' payments that you are waiting to be refunded  have not contributed to their increased profits

Tosh, if the money is not lining my pockets who's pockets is it lining

It is not "lining" anyone's pockets. As has been explained above, if it is a genuine credit you are due as a refund it will be sat as a liability on their balance sheet until it is refunded, it does not increase their profit. 

As explained above they have owed me money since last october, their switch to new accounts system is a fiasco and their boss is awarded large bonus, you may think that is mair tosh but I do not.

You claim British Gas owe you money, the fact that you, one consumer, has an unresolved complaint in what amounts to a minor subsidiary of Centrica has not and should not have any bearing on the bonus paid to the CEO.

I have no idea what "mair tosh" is, but whatever it is it, it does not convert a liability to profit.