Corporate Greed
April 7th, 2003
A letter to the Editor of the Times which was published on 7th April 2003.
Your report by Christine Buckley (April 2nd) describing the directors of Corus absorbed in devising new schemes of remuneration for themselves makes depressing reading for those of us whose shareholding value has been reduced in the space of a year to virtually nothing.
Even by the current standards of CGI (corporate greed and incompetence) this shameless behaviour, if true, (almost) beggars belief when thousands of their fellow employees are facing the sack. As for the Corus spokesman who said the current bonus scheme left the directors with no incentive, one would have thought that salaries around four hundred thousand pounds a year and a determination to try to repair the damage inflicted on the business, would be incentive enough. If it isn’t enough, why don’t they seek employment elsewhere?