Glad to see were all still in it together.....

[uttoxram75]

Average earnings of the chiefs of the UK's top 100 public companies in the FTSE 100 index, rose 32% in 2010. The index itself gained just 9% and UK averages earnings inched up less than 2%.

http://aka-cdn-ns.adtech.de/apps/271/Ad1993487St3Sz170Sq2745092V5Id2/finfactsisland_250x250

It's an old story where people in a position to do so grab what they can while expecting restraint from their underlings.

Mervyn King, governor of the Bank of England, said in January 2011 that families will see their disposable income eaten up as they “pay the inevitable price†for the financial crisis.

With wages failing to keep pace with rising inflation, workers’ take- home pay will end the year worth the same as in 2005 - - the most prolonged fall in living standards for more than 80 years, he said.

Earlier this month a report showed that the top 0.1% of UK earners, just 47,000 people, have seen their incomes rise much faster than the rest of the population.

Their incomes rose by 64% in the 11 years to 2007-08, according to the High Pay Commission, an inquiry set up by the left-wing Compass pressure group.

The bottom 50% saw their incomes rise by just 7% in the same period.

The report says the top earners, including hired hands such as company directors, could be receiving 10% of all income by 2025.

"This is the clearest evidence so far that the gap between pay of the general public and the corporate elite is widening rapidly and is out of control," said Deborah Hargreaves, chair of the High Pay Commission.

Today's report on FTSE 100 chief executive earnings is based on an annual survey by MM&K, a remuneration consultancy.

In an echo of boom times, MM&K said remuneration committees are under pressure to cede their independence and pay agreements for senior executives were too short-term focused.

The report found that over the past 12 years, some share prices had not risen but pay awards for chief executives had quadrupled.

The study said that while the move towards Long Term Incentive Plans (LTIPS) - - linking share bonuses to the long term performance of a company - - was welcome, the duration of such schemes had shortened extensively.

Many LTIPS schemes now lasted just three years, down from seven to 10 years a decade ago - - the renowned British economist John Maynard Keynes remarked many decades ago: “In the long run, we're all dead.â€

So terming 3 years as the long-term is risible.

http://www.finfacts.ie/irishfinancenews/article_1022417.shtml

[NorfolkRam]

As Mary said to Joseph, come again?

[GboroRam]

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