Vince Cable’s problem
And yesterday the beleaguered business secretary finally laid out his plans to restrict executive pay.
And what a lash up it is!
It’s a chalice indeed this one. There is doubtless deep dissatisfaction in the country about the completely crazy amounts some of the bosses are being paid, but how do you work it out? Can you just work on a multiplier on the lowest salary? Or perhaps of the average? The lowest is unlikely to have any responsibility and no worry, so how do you quantify the difference between them and the person at the top? Perhaps the company average could make sense? When I was consulting at The Co-operative I’d guess the average salary in head office was something like £30k, the then chief executive was pulling around a million. So a 30 x multiplier. Would he have done the job for half a million? Probably. So does that mean they were wasting half a million a year on one guy? Probably.
And how funny that the guys trying to sort out the situation are all on less than a £100k. Hard luck Vince.
Last night I spent far too long in a place called The Bar in Chorlton with my mate Carla who was bursting with excitement over a fellow she’d met through the Parship dating site. I dearly like Carla, and yes, I would, and so I’m dead chuffed for her, but I didn’t really want to know just how wonderful this fellow is. It left me feeling like a bit stuck in the mud. So I just drank too much as she wittered on. Bless!
And now as a consequence the grey of the day suits the grey of my mood.