BHS/Philip Green etc

[davidatpreston]

I doubt that Brown was influenced by Thatcher

 

 

The thread is about Green and his kind. Your post is deliberately diversionary and needs a separate thread. Green's motives were and are, personal greed, sel;fishness, contempt for those who made him rich, contempt for decent British working people and pure evil.

 

Perhaps you' could stick to Green, his family, and the stinkingly corrupt honours system on this thread, as political incompetence by Brown and many others is another matter.

[JOHNNYAITCH]

Looks like Greens going to lose his knighthood?

 

To him and the circles he moves in that is a big deal...still should take a huge financial hit as well as that might just help former BHS employees somewhat

[JOHNNYAITCH]

I doubt that Brown was influenced by Thatcher

 

What Brown did was terrible and some would argue even more unethical. The common thread is using other peoples' money for one's own benefit..Green for his own lifestyle, Maxwell to try to save his empire, Brown for political gain...the latter damaged far more people than Green or Maxwell...though that does not reduce the impact of what they did nor excuse it in any way

[bookworm]

The thread is about Green and his kind. Your post is deliberately diversionary and needs a separate thread. Green's motives were and are, personal greed, sel;fishness, contempt for those who made him rich, contempt for decent British working people and pure evil.

 

Perhaps you' could stick to Green, his family, and the stinkingly corrupt honours http://www.onevalefan.co.uk/forums/images/smilies/winking.gifsystem on this thread, as political incompetence by Brown and many others is another matter.

 

Don't get your knickers in a twist David,there is a link however tenuous.

[Guppy 4 England]

don't read media bull sheet. green took the majority of money out of the group, I.e all the companies he owns not just bhs, he also did it years ago when the companies were profitable.

 

He's done nothing wrong , the government need to look long and hard at themselves over this one. hate the game not the player. still at least they ate making tax digital and bringing in 4 tax returns a year for people, that should fix this problem...... 💩💩💩💩💩😖😖😖😖 #none of them have got a Scooby.

[JOHNNYAITCH]

don't read media bull sheet. green took the majority of money out of the group, I.e all the companies he owns not just bhs, he also did it years ago when the companies were profitable.

 

He's done nothing wrong , the government need to look long and hard at themselves over this one. hate the game not the player. still at least they ate making tax digital and bringing in 4 tax returns a year for people, that should fix this problem...... #none of them have got a Scooby.

 

Depends what you mean by wrong.

 

Yes there are huge problems with the tax system and corporate governance/regulation but just cos there are 'loopholes' does not mean one has to take advantage of them.

 

Clearly he left BHS in a poor state or he would not have sold it for £1...why did he value it so low, why was he so keen to get rid? Did he perform due diligence regarding who he sold it to?

 

Chappell is probably not blameless either but did he acquire a lame duck?

 

What you are saying is it's Ok for a footballer to cheat to get a penalty..it's the ref's fault for not seeing that he's cheating or the fault of the FA/UEFA/FIFA for having in place a system that relies on the referee spotting the cheating......it's clearly a flawed system so why not take advantage.

[Fosse69]

It used to be called having standards or principles, but nowadays for lots of people its a case of if you think you can get away with it, chance it. Diving in football is the obvious one, now less prevalent as refs are wise to it and cards are given.

[Guppy 4 England]

Why all the blame on Greens head too, he doesnt run the group by himself....

[stupers]

What you are saying is it's Ok for a footballer to cheat to get a penalty..it's the ref's fault for not seeing that he's cheating or the fault of the FA/UEFA/FIFA for having in place a system that relies on the referee spotting the cheating......it's clearly a flawed system so why not take advantage.

 

The world wrapped up in a football analogy.

[bookworm]

The greens of this world employ lawyers and accountants as bent as themselves, ie money orientated sans conscience, and they on his instruction milked the employees pension fund.Now I was under the impression that those monies were ring fenced similar to the season ticket monies but obviously not so successive chancellors have ignored the Maxwell memorial scam and left the loophole there for the benefit of those who can take advantage of it.Which shows to me being a simple soul that politicians, lawyers,bankers,industrialists, chartered accountants, hedge fund managers, chief constables and others who have their snouts in the same trough which is funded by us lower ranks all use the same urinal.:ninja:

[Guppy 4 England]

The greens of this world employ lawyers and accountants as bent as themselves, ie money orientated sans conscience, and they on his instruction milked the employees pension fund.Now I was under the impression that those monies were ring fenced similar to the season ticket monies but obviously not so successive chancellors have ignored the Maxwell memorial scam and left the loophole there for the benefit of those who can take advantage of it.Which shows to me being a simple soul that politicians, lawyers,bankers,industrialists, chartered accountants, hedge fund managers, chief constables and others who have their snouts in the same trough which is funded by us lower ranks all use the same urinal.:ninja:

 

Green hasnt milked any pension fund. In fact the pension fund deficit is nothing to do with Green, he didnt invest the money. They gambled on equities which failed instead of long term bonds.Personally i think these final salary schemes are daft, the reason they are in deficit is because 60 year old people have been guaranteed a 30k per annum pension. I can pretty much guarantee they have contributed no where near that to the pension fund. Yet when it goes **** up, they look for someone to blame. The actuaries are to blame in my opinion or the financial advisor/ investment accountant. Still it all falls on the CEO's head.

 

Plus all that people are focusing on are the fact green withdrew about 580m when the company was profitable. Is he supposed to predict the future aswell?

 

Whilst were on public opinion, the working hours thing with sports direct is downright disgusting too, Mike Ashley's own staff are stealing from him, he implements a search of staff before they leave which takes 30mins given how many staff work there, and hes supposed to pay them for it.....he might aswell let them steal stuff.

[bookworm]

:ooooooooooooooooooooooooohhhhhhhhhhhhhhhhhhhhhhh, I stand corrected, retires to a darkened room to study shortcomings.

[JOHNNYAITCH]

Green hasnt milked any pension fund. In fact the pension fund deficit is nothing to do with Green, he didnt invest the money. They gambled on equities which failed instead of long term bonds.Personally i think these final salary schemes are daft, the reason they are in deficit is because 60 year old people have been guaranteed a 30k per annum pension. I can pretty much guarantee they have contributed no where near that to the pension fund. Yet when it goes **** up, they look for someone to blame. The actuaries are to blame in my opinion or the financial advisor/ investment accountant. Still it all falls on the CEO's head.

 

BHS was not in a position to make up any shortfall cos of the amount that Green and co had taken out. Had he not taken so much out of the business there would have been funds to pay into the pension fund and it would have recovered over a much shorter timescale than the 23 year plan the trustees put in place. he knew of the shortfall yet still took 100s of millions out of the business...is that wrong?

 

Yes the investors made errors and the 2008 crash had a large impact but it could have been recoverable..Green ensured that it was not.

 

 

 

Plus all that people are focusing on are the fact green withdrew about 580m when the company was profitable. Is he supposed to predict the future aswell?

 

Yes..he is/was responsible for ensuring the continued solvency of the company AFTER he takes money out. the argument is he did this KNOWING it would not be...hence it was only worth £1

 

Whilst were on public opinion, the working hours thing with sports direct is downright disgusting too, Mike Ashley's own staff are stealing from him, he implements a search of staff before they leave which takes 30mins given how many staff work there, and hes supposed to pay them for it.....he might aswell let them steal stuff.

 

So the one's that aren't stealing anything it's Ok to pay them less than min wage cos of the ones that are??

[Guppy 4 England]

BHS was not in a position to make up any shortfall cos of the amount that Green and co had taken out. Had he not taken so much out of the business there would have been funds to pay into the pension fund and it would have recovered over a much shorter timescale than the 23 year plan the trustees put in place. he knew of the shortfall yet still took 100s of millions out of the business...is that wrong?

 

Yes the investors made errors and the 2008 crash had a large impact but it could have been recoverable..Green ensured that it was not.

 

 

 

 

 

Yes..he is/was responsible for ensuring the continued solvency of the company AFTER he takes money out. the argument is he did this KNOWING it would not be...hence it was only worth £1

 

 

 

So the one's that aren't stealing anything it's Ok to pay them less than min wage cos of the ones that are??

 

You should read the papers. Green didn't take anything out since 2008 when the fund was in surplus.

 

What argument ? Check his dividend payments.

 

They aren't working though ?

[JOHNNYAITCH]

You should read the papers. Green didn't take anything out since 2008 when the fund was in surplus.

 

What argument ? Check his dividend payments.

 

They aren't working though ?

 

Eh? No one there is working? They are all stealing stuff?

 

 

Post 2008 his family took tens/hundreds of millions out of the business...loans,rents etc..seriously..nothing to do with him?