Excessive Wages in the Private Sector – Name and Shame Thread

Fisherman1

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Excessive Wages in the Private Sector – Name and Shame Thread

In the interest of balance I’ve started this thread. I was tempted to start with the Bank CEO salaries but was confused – are they now state salaries?

Best I can suggest is Kelly Martin of Elan – see below.

CEO's pay rise shocking -- Elan shareholder - Irish, Business - Independent.ie

ELAN chief executive officer Kelly Martin's 25pc pay increase is "shocking" because the Irish drugmaker is losing money and the share price has dropped, a shareholder complained in a letter to the company's board.
Ib Sonderby, a Danish investor who owns two million shares, said there was a "massive disconnect" between pay and performance.
As of June 1, Martin's base annual salary rose 25pc to $1m (€778,000), and will drop to $750,000 in May 2012 when he becomes a company adviser until January 2013, according to an August 10 regulatory filing.
 


Clanrickard

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Excessive Wages in the Private Sector – Name and Shame Thread

In the interest of balance I’ve started this thread. I was tempted to start with the Bank CEO salaries but was confused – are they now state salaries?

Best I can suggest is Kelly Martin of Elan – see below.

CEO's pay rise shocking -- Elan shareholder - Irish, Business - Independent.ie

ELAN chief executive officer Kelly Martin's 25pc pay increase is "shocking" because the Irish drugmaker is losing money and the share price has dropped, a shareholder complained in a letter to the company's board.
Ib Sonderby, a Danish investor who owns two million shares, said there was a "massive disconnect" between pay and performance.
As of June 1, Martin's base annual salary rose 25pc to $1m (€778,000), and will drop to $750,000 in May 2012 when he becomes a company adviser until January 2013, according to an August 10 regulatory filing.
1. This thread is in political reform when it has nothing to do with politics
2. Private sector wage bills are paid for by the owners of the company and the shareholders so doesn't affect the public at large.
3. This is a sad effort to mimic the name and shame thread for the public sector which we all pay for whether we like it or not.
 

Éireann go Brách

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Copycat ;)

I was not being anti-public sector when I started below thread. Just pointing out the excessive wages at the top of the
public sector and the fact we can fix it.

http://www.politics.ie/political-reform/139530-excessive-wages-state-sector-name-shame-thread.html

As for the private sector for sure their is some big issues there
just look at some of the wage packets in the states
at the big banks.

The private sector raises more questions thou
as you now have the state telling people that don't work for it what to do.

How in the second Republic are we going to regulate
excessive wages in the private sector?
How can we tell google ireland not to pay their Main men over 200,000?
How can we tell an enterprenuner that he must set his wage at a certain level?
Is it possible to regulate a maxiumum salary for the private sector?


I don't know.
 

Passionateheart

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Why not have a public register of all wage rapists so the general public can decide whether or not to support such scumbags? However knowing paddies as a race that would increase their popularity because the general public would be misguided in to thinking bargains were in the air. But, hey, that's Paddies for ya!
 

SideysGhost

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How in the second Republic are we going to regulate
excessive wages in the private sector?
How can we tell google ireland not to pay their Main men over 200,000?
How can we tell an enterprenuner that he must set his wage at a certain level?
Is it possible to regulate a maxiumum salary for the private sector?


I don't know.
How about something similar to the speeding tickets in Finland? I think it's Finland anyway. Basically instead of a fixed €50 fine or whatever it's a percentage of your previous year's income.

So C-class remuneration packages that are cumulatively in excess of a % of the previous year's audited revenue for the company are illegal. Or say a three-year rolling average of company revenues to minimise dodgy accounting and asset sweating.

Alternatively a maximum multiplier of the average wage of non-managerial staff in the company.

I dunno, just a random thought!
 

OCicero

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2. Private sector wage bills are paid for by the owners of the company and the shareholders so doesn't affect the public at large.
Except when the public at large are the owners and the shareholders - or are about to become the owners and the shareholders.

Good thread.
 

neutral_lurker

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I don't mind private sector bosses wages being named and shamed- its good to know what they are up to, both private sector and public sector are disgusted at how they are paid.

however its public services that are being slashed and ordinary ps workers that are facing cuts and fears for their jobs- naming and shaming top earners show the waste of public funds and should unite and horrify ps workers and private alike

Funny even the more left wing unions like Unite don't make an issue of fat cat PS workers pay.
 

making waves

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2. Private sector wage bills are paid for by the owners of the company and the shareholders so doesn't affect the public at large.
This bullish*t actually. The public at large subsidise the massive salaries of private sector bosses through low corporation tax, low capital gains tax, tax avoidance scams etc etc etc. It is a nonsense to suggest that a banker who contributed to wrecking the economy should be receiving large six figure (or seven figure) salaries or a CEO should receive huge salaries or bonuses based on Ireland's super rich friendly tax system.
 

charley

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This bullish*t actually. The public at large subsidise the massive salaries of private sector bosses through low corporation tax, low capital gains tax, tax avoidance scams etc etc etc. It is a nonsense to suggest that a banker who contributed to wrecking the economy should be receiving large six figure (or seven figure) salaries or a CEO should receive huge salaries or bonuses based on Ireland's super rich friendly tax system.
Corporation Tax is another tax heaped on top of what the executive of a company pays in tax. What do you do that makes you think that you are entitled to a single penny of the money generated by the private sector. Why should someone who works hard to get where they are be expected to fork out more of THEIR WAGES so that some be-wigged politician can enjoy a jet-set lifestyle.
In all honesty if I ran a large company in Ireland and the state tried to sting me for more money I'd pull the pin on the whole operation and move the operation abroad,
 

Paulitics

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Good Thread

If someone has loads of dosh then others don't have much. Social balance anyone?
 

making waves

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Corporation Tax is another tax heaped on top of what the executive of a company pays in tax. What do you do that makes you think that you are entitled to a single penny of the money generated by the private sector. Why should someone who works hard to get where they are be expected to fork out more of THEIR WAGES so that some be-wigged politician can enjoy a jet-set lifestyle.
In all honesty if I ran a large company in Ireland and the state tried to sting me for more money I'd pull the pin on the whole operation and move the operation abroad,
1. Private companies benefit enormously from infrastructure and services provided by the state. Are you suggesting that the only people who should pay tax to provide this infrastructure and services are working class people?
2. Private companies benefit enormously from grants, concessions, tax breaks etc that are provided out of taxation.
3. What makes you assume that the super rich in this country do any bloody work at all? The vast majority of the wealth developed in this country over the past 20 years resulted from manipulating the property market, manipulating the financial system, manipulating the political system, gambling with the economy and landing the entire working population in the sh*t as a result. Their wealth wasn't / isn't created by hard work, but by abusing a system that facilitates abusing working class people.
4. So everyone else should carry the can except you. B*gger off where ever you want, you will be hard pushed to find a regime that is more accommodating to the business than this country, or one that is easier to manipulate or abuse (with the possible exception of a few African dictatorships - but there you would have to pay bribes instead of tax).
 


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