Mr Bates and the post office

[carmanmemoranda]

Thank God for that!

Only a diehard blind Tory could think like that

 

[Mottie]

Only a diehard blind Tory could think like that

In business, you have to look after others that will, in turn, look after you. ‘Tis the way of the world. Always has been, always will be.

 

[carmanmemoranda]

In business, you have to look after others that will, in turn, look after you. ‘Tis the way of the world. Always has been, always will be.

And you think it is right in politics, Governing the country, it is the right way to operate, and not be challenged?

 

[motorbiking]

Legislation that puts the onus of disclosure and tax payment on owners of complex investment vehicles, offshore or otherwise, would address this. Backed up by pro active enforcement, not the lily livered approach that HMRC takes to tax avoidance/evasion atm. It's not asking much o ensure the controlling share holders keep a weather eye on the conduct of the company.

Have you ever purchased an Exchange traded fund or invested in a unit trust? Do you have any understanding of how Venture capital and private equity works? Stuff gets packaged, split, packaged again etc.. You will have a pension which has positions in companies that you have no idea about.

 

[transam]

The other big injustice / scandal / disgrace that has never really been resolved is

The contaminated blood caper that kicked off in the 80s / 90s

When the UK imported contaminated products from the US

 

[blup]

Have you ever purchased an Exchange traded fund or invested in a unit trust? Do you have any understanding of how Venture capital and private equity works? Stuff gets packaged, split, packaged again etc.. You will have a pension which has positions in companies that you have no idea about.

Understanding the investment process is not the point, these companies are invariably controlled by a few people, you just have to chase the money. Royal mail a case in point, biggest shareholder is a billionaire Zcheck through his control of an pte equity company. Dont confuse the small investor with the big players.

 

[ellal]

you just have to chase the money.

When those hiding the money control the system, maybe you could tell us who you expect to be able to 'chase the money'?

 

[Brigadier]

 

[motorbiking]

Understanding the investment process is not the point, these companies are invariably controlled by a few people, you just have to chase the money. Royal mail a case in point, biggest shareholder is a billionaire Zcheck through his control of an pte equity company. Dont confuse the small investor with the big players.

I'm just trying to illustrate to you how difficult it is to hold share holders to account for the actions of their holdings. I hold stock in lots of companies, do I have a say in how the company is run - No. That is the same even where the holding is large, at best you might get one of your guys on the board or sit on the interview panel for the CEO. The buck stops with the CEO, the board, those who knowingly acted in bad faith, those who knowingly helped cover it up and those who's conduct was criminal.

 

[Brigadier]

do I have a say in how the company is run - No.

No need to fret then

It's the lying b@stards that I'd be going for.

 

[diy_fun_uk]

Someone talking on Nicky Campbell now. He was a Postmaster years back and noticed quite a significant financial discrepancy on the system. He reported it to them and was threatened with the sack and prosecution. He refused to back down and eventually a few people from both the Post Office and Fujitsu visited. During their visit, no one in the branch was interacting with the IT system, however it carried out a transaction. The Postmaster said there and then 'the IT system is either faulty or someone is doing things remotely.'

They departed and a few days later the discrepancy miraculously righted itself.

 

[SirGalahad]

In business, you have to look after others that will, in turn, look after you. ‘Tis the way of the world. Always has been, always will be.

So I hand a mate a contract for Government work and expect some kickbacks later.

 

[Mottie]

So I hand a mate a contract for Government work and expect some kickbacks later.

You’re learning.

 

[blup]

I'm just trying to illustrate to you how difficult it is to hold share holders to account for the actions of their holdings. I hold stock in lots of companies, do I have a say in how the company is run - No. That is the same even where the holding is large, at best you might get one of your guys on the board or sit on the interview panel for the CEO. The buck stops with the CEO, the board, those who knowingly acted in bad faith, those who knowingly helped cover it up and those who's conduct was criminal.

The PO was guilty of institutional denial the judge said, doubtless terrified of the (to them) worse consequences of admitting a problem with their systems, especially as the Royal Mail was being fattened up for floating on the stock market. The board and ceo had a conflict of interest, so it makes sense to hold major shareholders to account , not you me John d mottie or any other small fry

 

[Roy Bloom]

You’re learning.

Is that your admittance of the corruption systemic within the Tory party?