Tuesday, 29 January 2008
Public and Corporate resignations
So we have had a good few weeks of resignations and clinging on and it seems appropriate to note the etiquette and mores of today's world when it comes to hanging on to one's highly paid job.
First up, Peter Hain, who finally succumbed after realising the plod were coming to feel his collar, his boss seemed to weak to act. Next up on the list is the Harriet Harman, keen to keep her status and showing no sign of remorse - up until she is proven guilty of something.
Then we get to some corporate players - The Northern Rock board, Adam Applegarth amongst them who clung on for a good few months; in sharp contrast the the immediate reactions of the directors of M&B today.
At Societe Generale, apart from the devious Mr Kerviel, there seems to be a strong culture of hanging in through the tough times, with remarkably little activity despite the huge losses and obvious failures of senior management.
Then finally we reach Mr Conway, today having the whip withdrawn by David Cameron. No fear of him resigning despite clearly lining the pockets of his family with public funds.
The Patterns are hard to discern. Certainly the politico's come out poorly, as at least some businessmen behave honourably whereas it seems modern politicians do not; going only when pushed or pulled by the rozza's.
Having said that, businessmen in really indefensible positions like Applegarth seem to make the most of the hay whilst possible, being kicked out screaming at the end.
Perhaps the moral is those with a clean conscience resign in the knowledge that it will not be accepted or they will be forgiven and in a new job soon. Those caught at the till keep going until the PAYE is forcibly removed. Maybe this can be our guide to understanding where the guilty party resides in future incidents...
Posted by CityUnslicker