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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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InvisibleAlex213
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Registered: 08/22/05
Posts: 1,839
Meet the "superstars"
    #5783466 - 06/23/06 10:56 AM (17 years, 10 months ago)

Here's a few "superstars of business" doing what they're best at - soaking up money for themselves at everyone else's expense. Privatisation in practise  :rolleyes:

The Germans soaking up £20m as Britain runs dry

Five German 'fat cats' controlling Britain's most wasteful water company are being paid a staggering £20 million a year, it emerged yesterday.

As if that wasn't enough, while their customers here face a long, hot summer of scandalous leaks and water shortages, they stand to make a further £10 million in share options.

Details of the massive rewards for the board of RWE, parent company of Thames Water, sparked a major row and angered people confronted with hose-pipe bans and drought orders.

For the huge utility giant, based in Essen, is now planning to sell its British company - after siphoning off almost £1 billion in dividends - and leave millions of homes with no end to water shortages.

Tory shadow environment secretary Peter Ainsworth said:'Given the appalling rate of leakage in the Thames Water area, and the shocking example that provides to people being asked to conserve their own supplies, the public are unlikely to be impressed by the massive salaries at RWE.

'This is a board that has clearly failed in its duties to customers in the UK and now wants to get shot of the whole business.'

Labour's Tony Lloyd said:' This is a very odd form of asset stripping in the sense that the company seems to have doubled in value from the £4.8bn when they bought it to approaching £8bn now.

The row over the Germans' huge salary packages came as it emerged that Thames Water is leading a crackdown by leaky water companies on customers.

Despite its disastrous performance on leaks, Thames is one of several firms that have sent threatening letters to more than 4,400 families warning they face fines of up to £1,000 for breaking hosepipe bans. 

http://www.dailymail.co.uk/pages/live/ar...ge_id=1770&ct=5

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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order


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