Friday, 18 May 2007

Don't look a gift horse in the mouth

But...

News that a tycoon is to share a £26m bonus, of his own money, among staff of the company he has just sold has hit the headlines.

http://news.bbc.co.uk/1/hi/scotland/glasgow_and_west/6668395.stm

He should get credit for his actions, of course, but lets keep this 'generosity' in perspective. This man has just made a whopping £595m from selling this company. £26m is a huge amount of money, but it's only just over 4% of the profit made by this business tycoon.

It's like me winning £595 in an SNP raffle, and 'generously' giving my friends £26 between them. ;o) I can see the headlines in the branch newsletters the length and breadth of Scotland now - 'Generous SNP activist Shares her Success', 'My Begging Letter Hell', 'Raffle Re-draw Demanded after Spoils are Squandered on Shoes'...

Oh, it's been a long week :o)

3 comments:

Anonymous said...

Of course the guy would presumably argue that he didnt win a lottery - he made money as a result of his business decisions.

Julie Hepburn said...

Business decisions that included laying off a number of staff. I am not trying to condemn the man. However, the success (and therefore profits) of the company he has just sold is also down to the hard work and skill of his employees. I was merely trying to point out that he is being praised for an action that most people would judge as fair as opposed to generous.

Anne said...

Jules, great minds think alike - you and me are the only two radicals left :-)