Posted by J Hancock on 25/10/2021 09:42:15:
It was on the BBC R4 news item this morning.
£60.000,000,000 paid out to shareholders over the years could have something to do with it.
That's sixty billion pounds.
First of all, I hold absolutely no brief for excessive and obscene capitalism. Still, we need to appreciate the realities.
I suspect that many of those shares are held, not by individuals but by insurance companies. The dividends they receive from those shares are their return on investments from which they pay both the customers who hold private pensions from them and the company pension scheme administrators for whom they manage funds. Just ponder on how your Company Pension scheme grows its funds! So, if you have a private or company pension, you could, now or later, be receiving some of that 'filthy lucre'!!
My own view is that there should be a legal category of organisation which I would term a 'Public Utility'. This would be 'not for profit' but would be required to balance short and long term expenses and, at the same time, keep prices down for the benefit of customers. It would not have share-holders. I would put the supply of the essentials of life (e.g. water, energy, communication etc.) in the hands of only such organisations. We live in an era when you can run a company that manufactures tin-openers despite being completely ignorant of how tin-openers are made – 'management' is apparently a thing in its own right, I've always wondered about that.
My understanding is that a Company Director is required, by law, to care for the interests of the share-holders, that and only that! If he/she is shown to have put any other interest first, whether it be customers, staff, the environment or whatever, they incur severe legal penalties. I know there are 'mutual companies' like John Lewis and a polyester resin company whose name I've forgotten, where the staff are the share-holders but even they are not bound to consider customers, the general public or the environment.
I acknowledge that the fact that I'm not running the planet shows that my ideas have deficiencies!!!

Best regards,
Swarf, Mostly!
Edited By Swarf, Mostly! on 25/10/2021 10:50:00