Another greedy **** at the trough.

[crankedup]

This time a bloke named Sorrell, I want 60% pay rise this year to go on top of my millions of pounds already I am paid. Over 51% of the Company owners have rejected this proposal, but their vote is still not binding. Will Sorrell have this proposal pushed through before the forthcoming binding voting rights is enshrined in Law?

[DJRC]

Sir Martin Sorrell, WPP?

Always amuses me that Bernie gets the grief and his boss escapes the PH wrath

[Odie]

Before you Judge.

How much is the payrise in Pounds?

What percentage of the year on year profit increase is the Bonus?

What other Bonus's/Payrises are being given within the company?

[rohrl]

I posted a link to the BBC news story on this yesterday on the thread which is already going about exec pay which you're aware of crankedup because you've been posting on it.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[Changedmyname]

rohrl said:

I posted a link to the BBC news story on this yesterday on the thread which is already going about exec pay which you're aware of crankedup because you've been posting on it.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Yeah you tell 'im.

[crankedup]

rohrl said:

I posted a link to the BBC news story on this yesterday on the thread which is already going about exec pay which you're aware of crankedup because you've been posting on it.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

Oh bugger! I've been rumbled.

[Hoofy]

According to David Buik of BGC Partners (who has a slot on LBC every morning), this Sorrell's case is different because he's done well for the companies he deals with. :shrug:

[J B L]

Hoofy said:

According to David Buik of BGC Partners (who has a slot on LBC every morning), this Sorrell's case is different because he's done well for the companies he deals with. :shrug:

Yep. He's does. The share goes up and up.

One of my best friend who works for a WPP company just lost his job along with 5 colleagues as it's being moved to India...after they were tasked to train the Indian team who were going to come in for support only. Managers have now been appointed locally funnily enough.

Way of the world these days.

[Ken Sington]

I dealt with MS back in the very early days of WPP. Absolute gent. As he built WPP up from a next to nothing shelf company to what it is today, rather than being parachuted in as a chairmman on a huge package, I am not sure why he is getting so much flak.

[Tycho]

Ken Sington said:

I dealt with MS back in the very early days of WPP. Absolute gent. As he built WPP up from a next to nothing shelf company to what it is today, rather than being parachuted in as a chairmman on a huge package, I am not sure why he is getting so much flak.

Because the masses have been brainwashed into thinking that all executives/bankers are overpaid and not worth it rather than being encouraged to see what they bring to the business and deciding for themselves.

[rohrl]

Tycho said:

Because the masses have been brainwashed into thinking that all executives/bankers are overpaid and not worth it rather than being encouraged to see what they bring to the business and deciding for themselves.

It wasn't "the masses" who rejected Sorrell's pay deal. It was 59.5% of the institutional shareholders, i.e. pension funds.

[heppers75]

rohrl said:

Tycho said:

Because the masses have been brainwashed into thinking that all executives/bankers are overpaid and not worth it rather than being encouraged to see what they bring to the business and deciding for themselves.

It wasn't "the masses" who rejected Sorrell's pay deal. It was 59.5% of the institutional shareholders, i.e. pension funds.

And of course they have nothing to gain from the short term increase in share price that would come with having a CEO on £500k as opposed to £5m do they, they are not at all thinking get a short term share price increase cash in and f**k off before the share price tanks as the guy on £500k is actually guess what not as capable as the one who wanted £5m... The business is screwed but the fund holders who voted that down don't care as they got out while the going was good to do it all again elsewhere!

[rohrl]

heppers75 said:

And of course they have nothing to gain from the short term increase in share price that would come with having a CEO on £500k as opposed to £5m do they, they are not at all thinking get a short term share price increase cash in and f**k off before the share price tanks as the guy on £500k is actually guess what not as capable as the one who wanted £5m... The business is screwed but the fund holders who voted that down don't care as they got out while the going was good to do it all again elsewhere!

Most of the institutional shareholders are not at all interested in short-term bumps in the share price. They're the pension funds who hold all our money and they're in there for the long-term.

Not all investment funds are fly-by-night hedge funds.

[heppers75]

rohrl said:

heppers75 said:

And of course they have nothing to gain from the short term increase in share price that would come with having a CEO on £500k as opposed to £5m do they, they are not at all thinking get a short term share price increase cash in and f**k off before the share price tanks as the guy on £500k is actually guess what not as capable as the one who wanted £5m... The business is screwed but the fund holders who voted that down don't care as they got out while the going was good to do it all again elsewhere!

Most of the institutional shareholders are not at all interested in short-term bumps in the share price. They're the pension funds who hold all our money and they're in there for the long-term.

Not all investment funds are fly-by-night hedge funds.

In my experience they do shift and move their investments around while not as as frequently as your fly by night outfit but still on a reasonably regular basis. Also lets face it they are market players at the end of the day and if they can put themselves in a position to make a gain or see an opportunity to be able to influence a gain knowing that they will have to get out before it comes crashing down I think it would be rather naive to think that opportunity would not be undertaken.

[blindswelledrat]

crankedup said:

This time a bloke named Sorrell, I want 60% pay rise this year to go on top of my millions of pounds already I am paid. Over 51% of the Company owners have rejected this proposal, but their vote is still not binding. Will Sorrell have this proposal pushed through before the forthcoming binding voting rights is enshrined in Law?

How can you start a thread with this and everyone knows exactly what you are talking about?
In isolation this is completely nonsensical.
What am I missing?

[eccles]

blindswelledrat said:

crankedup said:

This time a bloke named Sorrell, I want 60% pay rise this year to go on top of my millions of pounds already I am paid. Over 51% of the Company owners have rejected this proposal, but their vote is still not binding. Will Sorrell have this proposal pushed through before the forthcoming binding voting rights is enshrined in Law?

How can you start a thread with this and everyone knows exactly what you are talking about?
In isolation this is completely nonsensical.
What am I missing?

The ability to do a quick google?

[blindswelledrat]

eccles said:

The ability to do a quick google?

Are you serious?
I think you actually are.

[crankedup]

Tycho said:

Ken Sington said:

I dealt with MS back in the very early days of WPP. Absolute gent. As he built WPP up from a next to nothing shelf company to what it is today, rather than being parachuted in as a chairmman on a huge package, I am not sure why he is getting so much flak.

Because the masses have been brainwashed into thinking that all executives/bankers are overpaid and not worth it rather than being encouraged to see what they bring to the business and deciding for themselves.

Its not the media giving out flak, its the Company owners and it relates to one specific item. Time served is not a passport to a lifetime of riches, as it used to be, perhaps the shareholders are thinking MS has over valued himself in the free market.

[crankedup]

blindswelledrat said:

crankedup said:

This time a bloke named Sorrell, I want 60% pay rise this year to go on top of my millions of pounds already I am paid. Over 51% of the Company owners have rejected this proposal, but their vote is still not binding. Will Sorrell have this proposal pushed through before the forthcoming binding voting rights is enshrined in Law?

How can you start a thread with this and everyone knows exactly what you are talking about?
In isolation this is completely nonsensical.
What am I missing?

Took for granted that the business world of all knowing and seeing/hearing that is PH would know all the ins and outs of this matter. Sorry if you had missed it.

[crankedup]

blindswelledrat said:

eccles said:

The ability to do a quick google?

Are you serious?
I think you actually are.

Or read up in the pink paper perhaps. Do you really need to be told?