Saturday, March 09, 2013


1. "'There’s a lot of little kids going hungry round here,' explained one friend, who works in a local community centre.

"Indeed, just the other day she had spoken to a family where the child had been chewing wallpaper at night.

"'He didn’t want to tell his mum because he knew she didn’t have the money for supper,' she explained. 'We hear more and more stories like this.'"

Life in the UK - Where austerity really hits home

Gerald Cavendish Grosvenor, Duke of westminster

The UK's Gerald Cavendish Grosvenor and family are worth $11.4 Billion.

Gerald Cavendish Grosvenor, the Duke of Westminster "has a history of frequenting prostitutes, reportedly 'hiring four hookers over a six-week stretch in late 2006 and early last year.'

"His appointment with Emperor's Club VIP escort "Astrid" on January 12, 2008 was caught on tape. For his one hour appointment, he paid 500 pounds ($1000)."

An escort reportedly said: "I thought his conversation was quite boring. He talked about the Army, going to Afghanistan..."

Aangirfan sees lots of malnourished kids in the UK these days.

2. The UK's John Lewis Partnership, which operates supermarkets and department stores, is owned by its workers.

The business is thriving - sales up 9.1 per cent to £8.47bn in the year to 26 January 2013.

"The company is owned by a trust on behalf of all its employees - known as Partners - who have a say in the running of the business and receive a share of annual profits, which is usually a significant addition to their salary."

The John Lewis Partnership has defied the devastation on the high street to increase its staff bonus.

Seven-year-old Lewis McGowan.

The Partnership raised the pay out to its 84,500 staff, known as 'partners' to about £4,000 for the average full-time employee.

March 7, 2013 - John Lewis staff share £211m bonus pot

The Partnership, seen as a model of responsible capitalism, said it had put £125m into its defined benefit pension scheme, which is non-contributory after three years of service.

3. Merryn Somerset Webb, editor-in-chief of MoneyWeek, writes:

"Wealth inequality may be ... falling across the globe, but in the west it is rising to uncomfortable levels.

"In the US the top 1 per cent of the population own more than 35 per cent of the nation’s wealth while the top 20 per cent own not far off 90 per cent. 

"The bottom 80 per cent, between all of them own a mere 7 per cent.

"The UK looks pretty rubbish when it comes to wealth distribution as well. The top 1 per cent have something in the region of 20 per cent of the wealth...

"If progress even partly depends on a good distribution of wealth, this shift doesn’t bode particularly well for us."

Li Ka-shing from Hong Kong in China is worth $31 Billion  

4. China has a growing list of billionaire politicians / The Chinese parliament holds 83 billionaires

Last year, the richest 70 members of China’s parliament added many billions to their wealth.

"That increase is more, on its own, than the total net worth of all 535 members of the U.S. Congress, the President, his cabinet and all nine Supreme Court justices combined."

Mexico's Carlos Slim Helu and family
 are worth $73 Billion. They have a 'monopoly' in telecoms. 

In China, the richest six dozen lawmakers are worth nearly $90 billion. 

Mitt Romney is worth about $200 million. Zong Qinghou, Cina's richest lawmaker, is estimated to be worth $5.6 billion.

Swiss voters have overwhelmingly backed curbs on corporate wages that take the power away from company boards.

The referendum approved rules that include:

A. Giving shareholders a binding say on executive pay

B. Banning golden hellos and goodbyes

C. Requiring annual re-elections for directors

D. Threatening criminal sanctions for non-compliance.

Switzerland's Ernesto Bertarelli and family
 are worth $11 Billion. 

"The Netherlands, which has been involved in multiple bank rescues, imposed a bonus cap in 2010 and is considering tightening the limit to 20 per cent of salary...

"The Swiss government has a year to convert the initiative’s proposals into law."


Carol A. Valentine said...

So Aang irfan when are you going to come over to my place for a little tete a tete?

Anonymous said...

IT WILL ONLY WORSEN AS BANKS ARE GIVEN given free range to steal from the populace. it's bad in America too where stealing is called quantitative easing.

Site Meter