Don't bank on these guys

Who's responsible for these so called industry leaders, who sets their remuneration and fat-cat bonues? perhaps we should take a little bit of that blame and assign it to those who really have demonstrated greed and ignorance, "the shareholders", and those who represent them, and/or, groups of them.

The lesson in this is even when times are seemingly good, its no excuse for shareholders to permit hikes in executives salaries, perks and benefits, because as we've seen, the good times can change a lot faster than they can be unwound.

So its the employee's at the lower end of the ladder who are first to go, not because its in the best interests of the business, but because its easier.

Many staff made redundant have more talent than the managers who remain, so its a double loss for shareholders because their competitors can acquire that talent and use it against them.

So one might think shareholders would take more of an active interest in that which they own? And to any employee vulnerable to redundancy, start a business and do it yourself. Chances are you'll lose your job because of someone else's stupidity, don't be fooled into thinking you can't do that yourself.

The New Zealand Commercial Banks are probably the most conservative in The World and quite frankly I would prefer that I did not have to deal with.

As a Self-employed Professional and Entrepreneur I regard our Banks as greedy, inefficient, arrogant and virtually useless and backward in their approach to small business.

They stifle business by demanding unrealistic securities while subjecting the Businessman to the week and ineffective advisory services that they promote - which in fact are targeted to line their own pockets rather the to support or encourage their Clients.

Why ? - because they succumb to the World Wide Disease of putting Profit before People and Business. Their Profits are way out of proprtion to the services they provide.

They are a liability and a burden imposed on the Business Community.

There must be a better way.

".hint of trouble, the first thing that many of them do is get rid of them, indiscriminately and usually starting with the innocent in the middle and at the bottom, rather than at the top where in most instances the blame lies."

Do you think we believe what you write or write what you think we want us to believe?

http:/www.bandt.com.au/news/CE/0C05C0CE.asp (Laying off in Sydney)

http:/animalnewyork.com/news/2008/04/breaking-lay-offs-at-saatchi-s.php (Laying off in New York)

And so on.

Well said Kevin!
Unfortunately, when companies say their most improtatnt resource is people, most are actually referring to the people who buy shares on the market.
While no company can live on air alone, paying senior management with shares in the company, while originally a great motivator (to improve shareholder wealth), has back-fired into a lot of senior managers bolstering the balance sheet with lots of paper profits and cashing-in before it vaporises.
Unfortunatley in this instance US political leaders left the cupboard open for all to pilliage. So who's more to blame - the people who took advanatge of a system they knew was flawed, or the politicians that let them get away with it. And now the taxpayer bails these bozo's out so that the ex-bank CEO can walk away with their millions, and the politicians wag their disapproving finger as it that makes it better.
There is a serious lack of accountability and responsibility in both the corporate and political world to shareholders and taxpayers alike.

Greed, dishonesty and dishonour?
And all this from an advertising guy? That's rich! Is this the same advertising industry who promote banks, cigarettes, alcohol, junk food etc etc ? You're just overpaid like bankers