Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-467"

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"en.20100706.30.2-467"2
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"Madam President, there is a real wave of post office closures at the moment in Austria while, at the same time, there has been a 40% wage hike at Post AG, but only for executive salaries. However, particularly during times of crisis, the general population is unable to comprehend such fantasy salaries, bonus excesses and serial severance pay recipients. It will not be that easy to put an end to this. It is well known that the German law on the appropriateness of management board remuneration has simply brought about more red tape and greater influence from foreign investors on remuneration policy and company strategy. The attempt to make management executives more accountable with retentions was thwarted by new insurance policies. The EU draft should draw a lesson from this. When one hears that disclosure of managers’ salaries in the US has led to their increase, it becomes clear that our plan is tantamount to fighting against a hydra. A chief controller will, at any rate, find it difficult to be responsible for two companies at the same time which compete with each other. The factors determining the bonuses must definitely be transparent."@en1
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