This Is Capitalism

[Canary42]

1. Set up a Company

2. Board Members then take out far more remuneration than is viable.

3. Company fails, owing millions.

4. Directors walk away unscathed (to do it all over again).

5. Dozens of debtors suffer real hardship.

https://uk.yahoo.com/news/river-cottage-chef-tv-production-060041322.html

[Spicerack]

This will be good.
I'll go and have a look now.

[New Judge]

//5. Dozens of debtors suffer real hardship.//

Do you mean "creditors"?

[ToraToraTora]

well canary, that may happen but there are a lot of times it doesn't where as socialism is guaranteed to make everyone poor.

[Zacs-Master]

Ah, I see we have someone who has probably never had anything to do with running a company pontificating on a financial situation they never no knowledge of.

Standard AB bu”sh’t.

[ToraToraTora]

not like canary pontificating is it! PMSL!

[Zacs-Master]

Mmm.

[Spicerack]

I've seen much worse stories, canary. This happened over years, out in the open.
How many businesses fail every year?

[ynnafymmi]

This is socialism-Joseph Stalin,Pol Pot,Mao Zedung,Kim il Jung.I think i will take capitalism everytime.

[gulliver1]

Similar to Greensill , Cameron , Cons . They just have to have their grubby little fingers in the till.

[ynnafymmi]

Is having grubby little fingers the same as having sticky little fingers,Gully?

[Spicerack]

He has got grubby fingers. HFW

[douglas9401]

Will no-one defend the indefensible?

Oh yes, of course they will. Endlessly.

[Spicerack]

On the face of it, given the tiny amount of info we have.
Which part of this is unacceptable?

[naomi24]

Canary doing what Canary does best. Making a twit of himself.

[Peter Pedant]

5 leddy means creditors
(polar mistake - )

[Peter Pedant]

// Canary doing what Canary does best. Making a twit of himself.//

erm usual suspects er doing what they do best - - -
I thought your [canary] analysis was not far from the truth

company does not make a profit and then goes bust
and directors are well paid and not starving. Philip Green no longer Sir did this didnt he?

trading whilst insolvent is a crime by the way.

[Peter Pedant]

since the usual suspects think go tots up is OK,
going bankrupt silly
er
hands up how many posters have a bankruptcy ( no finger pointing, it is OK) under their belts ?

me- I am a "no"

[jno]

I think he's still a Sir, isn't he?

Unlike Mussolini, who lost his honorary knighthood after declaring war on Britain.

[Peter Pedant]

oops
yes
Following his paying £363m into the BHS pension scheme in 2017, and a decision in 2018 not to ban him from being a company director,[61] it appeared that he would not be stripped of his knighthood

I actually didnt know until now he had paid £300 m into the pension fund. I thought he had sat on the prow of his yacht and said " haw haw haw - they have no job and I have!"