The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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R1234, just so, the secret to happiness is indeed count your blessing ….and love your family, but many don’t have one so I have two similar but different mantras, stuff happens to everyone, dumped, fired, collapsing shares, so don’t get bitter and twisted (like count your blessings), and secondly be loyal, to your family, friends, ideas, beliefs (like love your family but more as we live in an increasingly atomized society). The relevance to holders of Centamin, Hochschild Tharisa etc, and now Fisker shares and cars, is getting bitter and twisted doesn’t help, though as Steve Jones might point out the loyalty list does not include shares. At least Cey and hoc etc are finally rising again and asR1234 says count your blessings, and let us hope this is just the start, Happy Easter all.
Thank you Cowichan, this behaviour certainly doesn't demonstrate any genuine commitment to the appreciation of the Centamin shareholders, but it does demonstrate an arrogance and scant regard by throwing us a few top table scraps whilst filling their boots to overflowing for what exactly,just doing their job.
What may be a fitting analogy to our situation,
Senator : The war's over. Our side won the war. Now we must busy ourselves winning the peace. And Fletcher, there's an old saying: To the victors belong the spoils!
Fletcher : There's another old saying, Senator: Don't pi*s down my back and tell me it's raining!
https://www.youtube.com/watch?v=PpwJ1n7g1pM
It's not about wishing things were worse for anyone, it's about bringing about fairness and parity for everyone and treating all the inhabitants of the world as you would hope to be treated yourself.
The secret to happiness is really no secret at all. Love your family and count your blessings.
Even the poorest people in this country are better off than 95% of the people in the rest of the world and 100% of people from previous generations. Green eyed envy WILL give you mental health problems. Should you put up with being exploited? No. But you should look at your own situation, not compare yourself to others, wishing things were worse for others won't make them better for you.
16.01.24
Our pathway to economic success and higher living standards doesn’t involve lavishing more money on people who are already multimillionaires. Luke Hildyard writes for the Times.
Firstly, it is widely recognised that inequality exacerbates socio-economic problems. The UK has amongst the highest income inequality of any advanced economy. Research has found convincing evidence of a link between wider income gaps across societies and issues like physical and mental health problems, higher substance abuse, lower social mobility and worse educational outcomes.
Secondly, there are opportunity costs of executive pay for the wider workforce. While distributions of income and wealth are not a ‘zero sum game’, it would be naïve to think that huge top pay awards have no impact on pay and living standards for low- and middle-earners. Some major UK employers spend tens of millions on two or three executives alone. This inevitably means there is less available for their lower-earning colleagues.
Some argue that because executives take decisions that affect the value of billion-pound companies, they deserve to be paid millions. But no CEO operates in a vacuum. They depend on multiple colleagues to advise and execute decisions plus business processes and infrastructure that have been built up over decades at most large corporations. It is far more common for them to be rewarded for being in the right place at the right time than for genuine enterprise. The highest-paid UK executives last year included the CEOs of arms manufacturers and oil companies, who benefitted from a massive spike in demand following the invasion of Ukraine. For the CEOs to pocket multi-million pound bonuses as if they were responsible for this success is plainly ludicrous.
Ultimately, the number of candidates capable of filling executive roles is a function of the number who are given the training, confidence and opportunity to do so. There isn’t a tiny and fixed number of people with a god-given talent for business management. In an economy with the right approach to education, skills and opportunity, CEOs refusing to work for more moderate pay would be easily replaceable.
The pathway for economic success and higher living standards in Britain doesn’t involve lavishing more money on people who are already multi-millionaires. It means empowering the wider workforce to get a fairer share of the wealth that their labour creates.
Chicken feed compared to the boss of British Gas. Worlds gone nuts.
Absolutely right Paul,
We are all this this together, although it seems that has quite a different interpretation depending on whether or not you are are the top table or one of what they regard as the "Plebs" that is those that have actually bought shares. but never the less get sh(it on from a great height!
This is what's wrong with society where CEO' s take up post on very handsome remuneration packages with expenses, but then when they just about do the jobs they are more than adequately paid they think its their right to expect huge bonuses as well whilst telling the "Plebs" (Us)that times are hard and we need to pull in our belts in , but "Good times might be coming" if this latest gamble on Doropo works out, if not what does it matter its your money that will have been chucked down the lavatory , but that's mining and you can never be certain what's around the corner, except that is for the next bunch of parasitic BOD who will have your pants down all over again!
So why is the share price still on it's ar(se in the sick bucket and the dividend reduced to ar(se scrapings if all is going so well that the two top men get these huge bonuses?
Its a bit better than a 2 cent final dividend isn't it?
Exactly Cowichan, noses in the trough, as always, a 75% bonus just for doing what they are already being paid to do anyway!
Oh sorry I mean after all they did have to jump over a pretty low bar, phew so hard!
I wonder how many shares each of them will buy?
Yet they cut the already derisory dividend to 2c!
Talk about jobs for the boys!
This is taking the micky out of shareholders, more now so than the bunch before them!
Martin Horgan’s total bonus based on a formulaic assessment of all the targets (financial/objectively measurable plus personal/strategic targets) was 76.38% of his maximum bonus opportunity.
As a result, Martin received a bonus of £675,963 or 115% of salary.
Ross Jerrard’s total bonus based on a formulaic assessment of all the targets (financial/objectively measurable plus personal/strategic targets) was 75.38% of his maximum bonus opportunity.
As a result, Ross received a bonus of £443,847 or 94% of salary
Annual bonuses up to 75% of salary are paid in cash.
My Thoughts:
When you control the height of the hoop, it's fairly easy to jump through. Good thing CEO Horgan personally poured those last 53 ounces of gold just in time...