Record rise in FTSE 100 index
The FTSE 100 index rose by 21% in the past two months, which is an all time record. It remains to be seen whether this performance can continue. Indications are that it will continue to do so as confidence returns to business and banking. Yesterday saw the agreement of the 5 major UK banks to limit future bonuses after this year’s round in December.
The banks have taken a lot of stick over bonuses and are being used to deflect responsibility and blame for the government, who failed to control their activities properly for over a decade. One point not mentioned about performance bonuses is that these are negotiated and agreed with the unions as aprt of the pay structure talks, and from my experience in working in a banking sales orientated environment, you did not get a bonus if you did not get your targets.
All companies have some sort of incentive scheme to motivate staff and recognise their contributions to the financial performance of the business.
Labour continue to place a smokescreen on their failings, with a lot of policies dreamed up on the back of a fag packet. I have never seen Gordon Brown as angry as yesterday, when he stormed off after a BBC interview still attached to the microphone. Anyone who saw his thunder filled facial expression, as he glared at the interviewer, will see that he is not a very nice man at all.
Ironically, Lord Mandelson would make a very good leader. Even if you don’t like Labour or their policies, here is a man who is very articulate, and who comes across as being “reasonable”.
