They can't keep their snouts out of the trough

**harrybarracuda** · 19-07-2011, 01:11 PM

Quite incredible. Doesn't seem to matter how badly you fuck up.

The shares have crashed, profits have followed and there is growing doubt about whether the company has a long term future.

But Dixons Retail chief executive John Browett still marched home with pay of more than £1 million for his work in the last year, an amount that included a cash bonus of £122,000. That's down from a total of £1.57 million last year, when his bonus was a hefty £670,000.

Investors, particularly small shareholders outside the City, are likely to find it extremely hard to understand why a bonus is justified given how tough the company has found trading lately.

Browett, who arrived from Tesco in December 2007, remains a highly regarded retail executive. He is trying to turnaround a business that had lost its way and which has been buffeted by intense competition in the electricals market.

The stock was today down 0.26p at 15.03p. They were around 150p when Browett started work.

His finance director Nicholas Cadbury also did well. He was paid £564,000 including a cash bonus of £62,000.

A chart in the report called Total Shareholder Return provided by the company shows just how far below its own benchmarks the company has performed.

A hundred pounds invested in Dixon's five years ago would now be worth around £15. The same amount invested in the FTSE 350 index would be worth more than £120.

Defending the pay, Dixons points out that neither executive got a reward based on the group's performance. Instead the bonuses were for meeting "personal objectives" which it declined to explain.

**BaitongBoy** · 19-07-2011, 01:15 PM

Originally Posted by harrybarracuda

Instead the bonuses were for meeting "personal objectives" which it declined to explain.

I wouldn't go public with that info, either...ffs...what a joke...

**koman** · 19-07-2011, 01:27 PM

Originally Posted by harrybarracuda

Defending the pay, Dixons points out that neither executive got a reward based on the group's performance. Instead the bonuses were for meeting "personal objectives" which it declined to explain.

Quite proper...personal objectives are very important and when they are reached they should be richly rewarded...

How are you supposed to attract top quality management if you don't allow them to loot the place?...you can't let them all move to the US....

**Bettyboo** · 19-07-2011, 01:33 PM

^ this is the reason I packed in the business world (10-12 years ago, I'd already been offered CEO positions in International companies); it's a joke. Senior Management Team meetings are usually a group of idiots making awful choices which will negatively affect the company, when the results of those bad choices comes around, they will sack the workforce and increase their own salaries... Then, guess what, next year, more of the same, then next year more of the same...

No ethics at all. No loyalty to 'the company'. Usually, very little ability; all that is needed is the drive to get to the top, and 'people skills' to mix with like minded folk...

Not all businessfolk/companies are like this, but it is the standard. I'd rather be shot of the fukers, horrible folk to be around. Rape the hard working employees to pay their kids Eton fees... fukers...

**Thormaturge** · 19-07-2011, 01:47 PM

Was bankrupting the company one of those "personal objectives"?

These guys will be working in the banking sector next. RBS would snap them up.

**Latindancer** · 19-07-2011, 02:35 PM

Reminds me of a quote : "A criminal is a person with predatory instincts who has not sufficient capital to form a company ".

And : "A crime persevered in a thousand centuries ceases to be a crime, and becomes a virtue. This is the law of custom, and custom supersedes all other forms of law."
Mark Twain

One to mull over : " Crime and bad lives are the measure of a State's failure, all crime in the end is the crime of the community."
H.G. Wells

Now what was that Mark Twain quote about corporations ?

**coonicker** · 19-07-2011, 02:59 PM

When profits makes sense but bonus for failure?

**Neo** · 21-07-2011, 02:04 AM

Eat the rich.

**CaptainNemo** · 21-07-2011, 05:59 AM

Originally Posted by Neo

Eat the rich.

Shit the poor.

**nigelandjan** · 21-07-2011, 02:32 AM

It puts me in mind of Premier league football managers ,, when they arrive at the new club they are gonna win everything ,, he gets a golden welcome then a mansion to live in company Rolls Royce + Millions in wages , cocks it all up within six months is paid of ( remaining contract ) re signs in the club next door , and the merry go round begins again

**English Noodles** · 21-07-2011, 03:00 AM

Originally Posted by harrybarracuda

The stock was today down 0.26p at 15.03p. They were around 150p when Browett started work.

Originally Posted by harrybarracuda

Browett, who arrived from Tesco in December 2007, remains a highly regarded retail executive.

What is there to say? All you can really do is

**Sailing into trouble** · 21-07-2011, 08:26 AM

Why can't I get one of those jobs? I can screw up better than most. Given a couple of years I could have Microsoft on its Knees

I wonder if I sent my resume around the all the companies doing well, I could get an offer!

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