Friday, 27 January 2012
Hester gets the BBC hyperbolic treatment
"OUTRAGE OF HESTER BONUS"
I do wonder, who's outrage though? What exactly is the going rate for running an organisation of over 100,000 people and being tasked with turning round a company that lost £28 billion shortly before you joined, into one that can be sold for double its current shareprice and deliver back to taxpayers £35 billion whilst also removing £250 billion of liabilities from the UK national debt.
I don't think any rational person would say this is a median wage job. In fact the majority of FTSE bosses get far more than this - yes we can argue that they are paid too much. But really, I am hoping that this is the top of the media circus. Stephen Hester is not Sir Fred Goodwin, he is already a rich man and took on a difficult job, failure at which will cost the Country tens of billions of pounds.
Things do need to calm down in the UK on the pure money envy front. Lots of people get paid too much, footballers, bankers z-list celebrities and lost of people earn very little too. it's never been any different and the general howling at people who have got on however lucky they have been is a vision of a society that I don't want to see.
That way lies communism and the utter failure of socialism, valuing equality over achievement, trying to go directly against the human condition and desire of competition - attributes that capitalism does so well to focus to positive rather than negative ends.
Finally, the BBC of all organisations, is also a large public entity, has many people on its pay roll - like say Alan Hansen at £1.5 million - who perhaps do not have the Country's financial future in their hands and yet are paid even more directly by the taxpayer...
Posted by CityUnslicker