Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/236/25104

From The Socialist newspaper, 11 January 2002

Kick Out The Greedy Bosses

MANY THOUSANDS of working people's jobs may be at risk but still the bosses arrogantly ignore all calls for restraint when it comes to ensuring their own creature comforts.

By Bill Mullins

Bob Diamond, a chief trader for Barclays Capital, received 10 million in Christmas bonuses taking his earnings to 13.75 million for the year. When The Mirror asked him to confirm his pay out, he could "only grin" (and no wonder).

He's not the only boss to get huge new year handouts. As the rest of us prepare to tighten our belts, other Barclays Capital traders got bonuses of between 5 million and 10 million each. Another 100 of their traders found 1 million each in their Christmas stocking.

Last year tens of thousands of workers were thrown on the dole after their firms collapsed or carried out huge cutbacks. But according to the Labour Research Department, 14 directors from these collapsing companies paid themselves huge 'golden goodbyes' of between 1 million and 5 million for taking their companies to the brink of receivership.

Take Lord Simpson, a Labour peer who oversaw the collapse of the once mighty Marconi company (which used to be called GEC). His fellow directors voted to pay him a 3.5 million pay-off and it was only public outrage that forced the Marconi board to pay him less.

The same capitalist press which viciously attacks "greedy" South West Trains workers for daring to strike to defend their living standards is very muted in its criticism of the greedy bosses.

A few years ago, in response to public opposition to the scandal of payoffs like this, the Greenbury committee told the bosses they had to "cool it" and give smaller pay-offs. Big business of course completely ignored this committee's findings.

Under the capitalist system the bosses will always look after themselves first, second and last when it comes to sharing out the rewards created by the sweat of the working class.

We shouldn't be surprised at this. Instead we should organise the fightback against the bosses and their system. Join us in fighting for a socialist society.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 11 January 2002:

Kick Out The Greedy Bosses

Renationalise the railways!

Euro - Workers Will Pay The Price

Rough Justice Backs Oliver Campbell

Kashmir Crisis: Regional Powers Threaten New War

Crisis In Argentina - The Masses Move Into Action


 

Home   |   The Socialist 11 January 2002   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Pay:

triangleLocal government pay: fight for the 5% claim, fully funded

triangleDemonstrations by uni students and staff greet Bath vice-chancellor resignation

triangleArriva bus strikers stand firm

trianglePCS Left Unity celebrates 40th anniversary at annual conference

triangleAmber warning lights flash on British economy

Labour:

triangleAnti-DOO lobby of Liverpool's transport committee

triangleBirmingham South East Socialist Party: Can the Labour Party be changed?

triangleBlairite horror and Labour's divisions graphically exposed

triangleTUSC conference to debate 2018 elections

Capitalist:

triangleIrish capitalist state: rotten to the core

triangleWhy I joined the Socialist Party: "I started to question whether there was a better way"

triangle'Paradise' for billionaires - austerity for us

Bonuses:

triangleCity bosses' 40m bonuses as Number of food banks hits 2,000

triangleStop the 54,000 yearly maternity sackings

Big business:

triangleTories torn - bin them now

News and socialist analysis

News and socialist analysis

8/12/17

Government

Local government pay: fight for the 5% claim, fully funded

6/12/17

Labour

Corbyn's Labour can defeat Tories with socialist programme

6/12/17

NHS

Branson sues NHS: kick out the profiteers

6/12/17

Immigration

Royal wedding exposes them-and-us visa system

6/12/17

Banks

RBS to sack 1,000: nationalise the banks

6/12/17

Homelessness

Rough sleeping crisis: make homes, not arrests

6/12/17

Poverty

End Tory war on poor

6/12/17

Rail

Nationalise rail now

29/11/17

Them & Us

Them & us

29/11/17

Homes

Tory housing policy: build zilch, hike prices

29/11/17

Wages

Make the Tories history

29/11/17

Birmingham

Birmingham bin workers win!

29/11/17

British economy

Amber warning lights flash on British economy

23/11/17

Pay

After the budget - unions must launch pay fight

22/11/17

Climate change

Carbon dioxide hits 800,000-year high: end profit-driven pollution

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle8 Dec Local government pay: fight for the full 5% claim

triangle6 Dec Strikers rally in Liverpool

triangle6 Dec Corbyn's Labour can defeat Tories with socialist programme

triangle5 Dec Victory at Glenfield shows people power can save our NHS

triangle5 Dec Labour council Blairites deselected

triangle30 Nov Victory: Glenfield Children's Heart Centre saved!

triangle30 Nov Dramatic retelling of Grunwick strike

More ...

triangle11 Dec Leeds Socialist Party: Campaigning workshop

triangle11 Dec Bristol North Socialist Party: Christmas Quiz

triangle12 Dec Birmingham South East Socialist Party: Can the Labour Party be changed?

triangle12 Dec Liverpool Socialist Party: Fighting council cuts

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2