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Posted on 16th April 2017 |
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I am gob-smacked by this BBC report, for a couple of reasons. Bonus payments are meant to be paid for good performance, and often referred to as profit-share bonuses, but Credit Suisse has made a loss for the last two years. So why do the bosses think that they deserve any bonuses at all, let alone 78m Swiss francs ($77m; £62m) shared between 12 executives? To me this seems to be corruption, pure and simple, and it should be stamped out. The other thing that occurs to me is that these executives knew that, at the upcoming shareholders meeting, their bonuses would be voted down by the owners of the company, and this announcement is a cynical attempt for them to retain some bonus payments, rather than to have the shareholders decree that they receive none at all, as they properly deserve. So why did the BBC journalist, whose name is not on the story, not think of this possibility, and spend some time investigating, and discuss it in the article? I expect better journalism from the BBC, and I am very disappointed. | |