Friday, December 01, 2006

The rich get richer, the poor get the shaft

It's amazing what bosses will say they deserve to pay themselves, while moving jobs overseas as cost-cutting measures.

The article shows that bank bosses are earning more in total capacity since last year, despite bulk outsourcing of workers. And they wonder why we dont like banks?

Next time I ring ANZ, I want to talk to Mr. John McFarlane himself. If he earns $3M+ a year, he should answer my questions, as well as everyone elses.

Before you bitch and moan about shareholders being able to oust boards and the like, think about how many shares are issued in the banks, and how many you would need to hold to have any sway at all.

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