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Sunday Times Rich List suggests UK's wealthiest defy recession
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Old 30-04-2012, 14:57   #16
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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Originally Posted by Ramrod View Post
The thing is that businesses aren't charities. A business has to survive in order to continue trading......so that it can make profit and thereby pay wages, pay taxes, keep or create jobs......which pay more taxes.
I am against businesses squeezing workers so that they can keep shareholders happy but I am equally dismayed at the current vogue of bashing businesses simply because they might be profitable and have to live in the real world (as opposed to a world of left wing success envy and muddled wishful thinking)
The problem is the a lot of businesses squeeze their workforces to the point where customers suffer.

Take my local Sainsburys. They installed self service checkouts apparently to improve customer service. When used properly, they do. However, at my local Sainsburys they frequently only have the cigarette counter and the self service checkouts open. The problem with this (for the customer) is that neither is designed to deal with trolleyloads, with the result that you often get a situation where one person is having to use one self checkout, and is blocking another with their trolley. I am aware that not all Sainsburys stores do this, but I am also aware that Sainsburys is currently reporting massively increased profits.

In essence, Sainsburys (like a lot of companies) are putting increased profits above service. They seemingly aren't willing to take the chance that improving the service may well improve sales, and therefore profits.

Now, I am not naive enough to think that increasing the number of staff will alway increase profits. It doesn't, and you just end up with staff standing round doing nothing, which is neither profitable or good for the company image. They need a balance though.

I think the problem is (and the reason these companies are being criticised) that a lot are replacing UK staff either with machines (in the case of the supermarkets) or with call centres in other countries, or just closing branches, complaining about costs, all while reporting record profits, and, in a lot of cases, record salaries and bonuses for those in charge.

Yes, the companies need to be profitable, but they don't need to report record profits every year, and on the flip side, the economy really needs at least some of the people being affected by this to have jobs.
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Old 30-04-2012, 15:46   #17
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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The problem is the a lot of businesses squeeze their workforces to the point where customers suffer.
.......and thats down to stupid or short sighted management. Shouldn't happen.
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Old 30-04-2012, 20:26   #18
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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.......and thats down to stupid or short sighted management. Shouldn't happen.
Which is often down to the City's clamouring for quarter on quarter growth, otherwise the share price is marked down....
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Old 30-04-2012, 20:35   #19
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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Which is often down to the City's clamouring for quarter on quarter growth, otherwise the share price is marked down....
Indeed. I've given one small example, but from what I have seen, it's happening industry wide in most industries. Not every company, but certainly most of them.
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Old 30-04-2012, 20:58   #20
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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Which is often down to the City's clamouring for quarter on quarter growth, otherwise the share price is marked down....
I agree, what's that all about? It's unrealistic to expect constant growth yet thats what the stock markets seem to not understand.....
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Old 30-04-2012, 21:39   #21
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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I agree, what's that all about? It's unrealistic to expect constant growth yet thats what the stock markets seem to not understand.....
Sadly, the City seems to be run by people who can't see beyond the next quarter, and are ONLY concerned with their next set of profit and loss figures.
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Old 30-04-2012, 22:32   #22
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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Originally Posted by Hugh View Post
But it's not that simple, mertle - as Andrew Sullivan said in yesterday's Sunday Times
sorry hugh could not read it its behind paywall.

Could you please sort give commentary what it said.

Now been reading something else seems its growing that individuals not happy with Klugman economic views.

http://www.nakedcapitalism.com/2012/...ntasyland.html

So the question if experts called it wrong then what will make the economy turn.

What will make the rich see sense. Maybe the situation one big wake up call that economy needs all cogs we cant remove one without it stopping it drive.

---------- Post added at 21:32 ---------- Previous post was at 21:28 ----------

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Sadly, the City seems to be run by people who can't see beyond the next quarter, and are ONLY concerned with their next set of profit and loss figures.
agreed and hugh make also valid point common sense needs to be brought about.

I said in other post maybe the situation one big wake up call. Will those who can effect change listen and act.
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Old 01-05-2012, 09:46   #23
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Re: Sunday Times Rich List suggests UK's wealthiest defy recession

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Originally Posted by mertle View Post

I said in other post maybe the situation one big wake up call. Will those who can effect change listen and act.
Whilst they make huge profits out of the status quo there'll be no change.
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