Friday, February 27, 2009

Golden Shred: Fred Downgrade to Silver Shred? Or "Penury"?

From Golden Shred to Silver Shred - lemons for the use of - seemed the way to go. Half or quarter the man's pension. Ten years in the job. Mostly excellent results according to markets and shareholders. But ... Latterly very bad results indeed. And now, as Fred has refused to back off, there's a mood in all quarters to renege on the whole deal.

No pension from RBS for Fred the Shred seems to be the feeling. See you in court you B'stard(s)!

Rupa Huq thinks Prezza may have re-discovered his "vibrant, aching, socialist, conscience" tm G Kaufman in challenging Fred the Shred to a duel; GuF O'Staines thinks Prezza's forgotten some of the wrinkles in the compilation of his own televised big break pension pot and also bothers writing down that Sir Fred chairing the Low Pay Commission is satire that writes itself, ho ho ho, but whaaaaa?!; Stephen Newton meanwhile suggests that Ministering to Sir Shred's well hidden kind hearted side may back fire and make the government look weak.

Works for me IFF the law's on our side. And I think it probably is.

If not, Shred will get away with his loquacious barrow boy made good "Go Swivel!" rebuke.

If so, Shred will feel hard done by when other complete and utter Bankers escape with similar or indeed two or three times bigger pension pots, but have escaped the opprobrium never mind legal challenge.

FOOTNOTE: Suppose Shred has a pension pot of £18M - some say value of £30M but that's silly "retail" prices: surely any fool can do 4% income? - are we happy if the state spends a million in legal fees per million we reduce Sir Shred's pot by?

Do we mind if we spend more in legals than we eventually take off Shred?

How about much more?

PREDICTION: They'll give Shred £7 Million in cash and he'll skulk off. Honour kind of satisfied. But he'll do 10% income flirting around in China and etc, buying ridiculously undervalued RBS shares for example. Pension worth £700,000 per annum ... Result!


Anonymous said...

If Balls, Cooper, Smith and the rest get away with their shameful fiddling of their expenses because it is within the rules, then so should Fred Goodwin, unpalatable as it is. Surprised at you not having pointed that out, or maybe not.

I also bet that Ahmed the criminal will be on for a good pension pay out too. Any thoughts? Maybe not as he is Labour.

I predict that he will, rightly, get his full entitlement but Brown and Labour for the PR will drag it out and waste tax payers money in the courts, and why not? Might gain a few votes and it isn't their loot is it?

Chris Paul said...

I have regularly pointed out the elephant trap that is attacking contractual arrangements of workers. Attack one rich man over T&C now. Establish precedent. Tories attack millions using that.

Lord Ahmed: Not particularly interested in his pension. Might well blog about his texting and bad driving at some point. But perhaps not. I have at 10 posts ahead of that in my wish list right now. You blog it if you want to. You do have a blog don't you? You're more than a Tory Troll ... I just know it.

I'm predicting pension pot ransacked with £7 Million handed over in cash. Don't think there'll be much legal action. Just face saving compromise, apparently saving tax-payer/share-holder £11 Million.

yellowbelly said...

My what a racist you are, with golliwogs all over your site!

Chris Paul said...

Now, we both know you likely don't mean that you old yellowbelly you.

But if perchance you do mean it, and you are not in fact delving into the lowest form of wit, then we look forward to your explanation.

Anonymous said...

Might well blog about his texting and bad driving at some point. But perhaps not. I have at 10 posts ahead of that in my wish list right now.

Blah blah there's a surprise.

Nobody would blame you for any of this, or the guff you posted since in other threads, except for how you whine and cry and beat your breast over Mrs Dale and him being less hypocritical than you.

Please tell me you are not the standard Labour supporter..please tell me we are not going to have top rely on this partisan drivel to win the next or even subsequent elections...

God help us.