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From The Socialist newspaper, 19 April 2007

Bosses' Pension

LORD BROWNE, retiring chief executive of Britain's biggest oil company BP, has faced complaints from shareholders over his remuneration package. Browne's annual salary was some 1.5 million a year, and his 'golden goodbye' was reportedly as high as 72 million.

Nearly 20% of shareholders voted to oppose him getting this much. Most of them have no objection to top bosses living lives of luxury provided they are doing the same! Some were carping that BP share prices had been underperforming the FTSE index of leading companies.

Other investors raised BP's shocking safety record such as a chemical fire in its Texas City oil refinery in 2005 - 15 workers died and over 170 were injured. The shareholders were worried that overtly cost-cutting, profit-chasing activities harmed BP's image and hit stock market prices.

Our solution to corporate contempt for safety, huge profits, giant golden goodbyes and extremes of wealth and poverty is to start by taking the whole oil industry into public ownership under democratic workers' control.

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In The Socialist 19 April 2007:

Kick big business out of the NHS

Nurses' fury at cuts and attacks on jobs

NHS London - delivering private health


Socialist Students

Build for national action against fees


Socialist Party election campaign

Election manifesto 2007

Leicester: A principled stand against opportunists

Young socialist standing for Save Huddersfield NHS

Wales manifesto launch

Save our NHS campaign fields five candidates in South Lakes

Nursery cuts campaign launch

Making a difference in Lincoln

Vote Socialist Alternative on 3 May


Socialist Party editorial

RMT victory: Union militancy pays


Campaign for a New Workers Party

Wanted - a new mass party for workers

Campaign for a New Workers' Party Conference


Socialist Party workplace news

Tube workers win big victory over Metronet

Campaigning for a 26,000 minimum wage

Young trade unionists reject New Labour

Greenwich UNISON steps up fight against pay cuts


International socialist news and analysis

Venezuela: Will the trade unions give up their independence?

Bush's man at the World Bank in corruption scandal


Socialist Party news and analysis

Bosses' Pension

Blockading Britain's warhead factory

Fighting for the right to walk in the countryside

Cuts reduce advice for the people who most need help

Bank that only serves the rich


 

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