Carillion another gov bail out?

[I1L2T3]

None of the Directors are pension funds though. They are mostly men who have been enriched by gorging on the gravytrain. Whilst they were doing that, the pension fund was slipping into huge deficit.

 

It should be the law that a company cannot pay a penny in bonuses until it has fulfilled all of its financial responsibilities to its pension fund.

 

Great idea

 

We’re best off with a capitalist system, but it must move towards sustainable capitalism.

 

Incidentally that was Ed Miliband’s big idea. Looking very prescient now.

[Anna B]

None of the Directors are pension funds though. They are mostly men who have been enriched by gorging on the gravytrain. Whilst they were doing that, the pension fund was slipping into huge deficit.

 

It should be the law that a company cannot pay a penny in bonuses until it has fulfilled all of its financial responsibilities to its pension fund.

 

That should have been made law a long time ago.

[iansheff]

Richard Howson former chief executive stepped down from Carillion's board last July and left in November after the firm made its first profit warning, sending share prices tumbling.

 

http://www.mirror.co.uk/news/politics/fury-fatcat-carillion-boss-trousers-11855183

[Bob Arctor]

None of the Directors are pension funds though. They are mostly men who have been enriched by gorging on the gravytrain. Whilst they were doing that, the pension fund was slipping into huge deficit.

 

It should be the law that a company cannot pay a penny in bonuses until it has fulfilled all of its financial responsibilities to its pension fund.

 

Very good idea.

[hackey lad]

None of the Directors are pension funds though. They are mostly men who have been enriched by gorging on the gravytrain. Whilst they were doing that, the pension fund was slipping into huge deficit.

 

It should be the law that a company cannot pay a penny in bonuses until it has fulfilled all of its financial responsibilities to its pension fund.

 

I would go further and say no bonuses until its met All its financial responsibilities

[Obelix]

I would go further and say no bonuses until its met All its financial responsibilities

 

So basically no change from status quo then?

[Anna B]

I would go further and say no bonuses until its met All its financial responsibilities

 

Absolutely. But this is the result of years of deregulated, unfettered, 'light touch' business and banking. The chickens are finally coming home to roost, and what a mess we're in....

[Obelix]

I refer you to my previous post Anna.

 

It's a company that went bust. It's hardly some seismic shift. It happens more or less every day. It just happens to be a larger one than normal.

[Naive]

So basically no change from status quo then?

 

So, how do firms like Carrilion, or Tata/Thyssen get away with virtually bankrupting their pension schemes whilst paying huge bonuses and ridiculously generous severance packages for executives?

[Obelix]

So, how do firms like Carrilion, or Tata/Thyssen get away with virtually bankrupting their pension schemes whilst paying huge bonuses and ridiculously generous severance packages for executives?

 

In case you hadnt noticed carillion hasnt got away with it - they went bust!