Persimmon Homes -- CEO £100m Bonus...

[Yipper]

Biggest bonus for a listed company in UK history.

Free-market economics, or corporate looting.

Discuss.

https://www.theguardian.com/business/2017/dec/15/p...

[Yipper]

The TrustPilot reviews for Persimmon are interesting. Company scores 1 out of 10...

https://uk.trustpilot.com/review/www.persimmonhome...

[Yipper]

To give it some context...

The average UK healthcare-sector employee bonus in 2017 is roughly 1% of their base pay.

The average UK private-sector employee bonus (all industries) in 2017 is roughly 7% of their base pay.

The average UK private-financial-insurance-sector employee bonus in 2017 is roughly 40% of their base pay.

The Persimmon CEO's bonus in 2017 is roughly 10,000% of their base pay.

[Yipper]

crankedup said:

John145 said:

A 100million bonus is a £21,500 bonus per employee... f’ing ridiculous.

Just before I go, some in here think that’s Ok. Like it’s morally fine and will not contribute to Social unrest and division of society. My view, well it’s known I guess. Right to the club.

The ~£500m bonus pool is being shared among ~150 higherups. An average of ~£3,333,333 per person.

The other ~97% of the ~4,500 employees beneath them are getting zip (or near-zip).

[Yipper]

Kuji said:

Yipper said:

To give it some context...

The average UK healthcare-sector employee bonus in 2017 is roughly 1% of their base pay.

The average UK private-sector employee bonus (all industries) in 2017 is roughly 7% of their base pay.

The average UK private-financial-insurance-sector employee bonus in 2017 is roughly 40% of their base pay.

The Persimmon CEO's bonus in 2017 is roughly 10,000% of their base pay.

Which of the above are profit making and not loss making?
How many of the private companies get gold plated final salary pensions.

The least you could do is to try and be look at the full pictute.

Over 80% of UK companies make a profit. They disappear if they don't.

Under 10% of UK companies offer final-salary pensions.

Lots of companies making a profit.

Bonuses are a, err, bonus on top of pension-contributions.

Hth

[Yipper]

Must admit, a lot of newbuild homes, nowadays, do seem a bit sh*t.

Knocked up quick and offski to the next building site.

Just a quick visit to one of those cringey newbuild estates for middleclass professionals shows up thin walls, nasty kitchens, badly-designed driveways, etc.

[Yipper]

Foliage said:

As percentage of profit this is insane.

It is based on shareprice performance, and is "not bad" in that context (billions of uplift).

Where people are (rightly) getting shirty is:

1. The Persimmon share performance has been artifically exaggerated by free money from government bribes in its help-to-buy-votes scheme. Shares have been lifted primarily by the government, less so by Persimmon execs.

2. Roughly 97% of Persimmon staff get jacksh*t from the massive bonus pool. They do their share of the work, but don't get their share of the bonus pool. It is corporate looting by the 1-3% holding the purse strings.