From the TUC

A shiver in Britain’s boardrooms?

05 Feb 2009, by in Economics, Equality

President Obama’s decision to limit salaries and bonuses may well be worrying Britain’s boardrooms.

This is not because I see much chance of the same thing happening here (though it should). But remember the standard defence of executive excess in UK boardrooms. This is an international market for talent we are told. Even – in a strange borrowing of trade union language usually mocked by these very people – we must pay the rate for the job.

So now there will be all these hugely talented US bank directors on the international job market. Watch out UK CEOs.

2 Responses to A shiver in Britain’s boardrooms?

  1. Owen Tudor

    Owen Tudor
    Feb 7th 2009, 1:25 am

    There has been much talk about the “talent flight” that will be created by Obama’s move. So if anyone is having nightmares, remember this. The ‘talented’ individuals whose bonuses will be capped (to $500,000 – hardly poverty pay) were so clever that their companies went bust. Er…. maybe there won’t be THAT much demand for such ‘talent’…..

  2. Nigel Stanley

    Feb 7th 2009, 12:27 pm

    That was the point I was making. Perhaps blogs are not the best place for irony!