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How many corporate jets does Tesco need?

How many corporate jets does Tesco need? Four is the answer apparently. Every little helps (sic) as is their motto no doubt. The cost of these aircraft has actually risen in recent years and the expenditure on them was £8.9m last year. In addition the company has established a new "corporate" office in the West End of London for meetings rather than have directors travel to Cheshunt (that's just north of London for those who don't know). One has to ask whether they have ...

Are AIM tech company directors underpaid?

Grant Thornton have published a report which says that AIM technology company directors do not pay themselves as much as in other AIM companies. Author Amanda Flint suggests the former might feel themselves undervalued and move elsewhere.According to the report, the average total pay package for AIM technology company chief executives was £383,000 last year. That is less than half the average pay across all sectors. And only 36% of technology CEOs received share-based awards compared with 60% of main market ...

RBS, Hibu and the unacceptable face of banking

There have been extensive media comments lately on the activities of the Royal Bank of Scotland in lending to smaller businesses, and what they did when those businesses got into financial difficulties. The articles printed focussed on two reports on the activities of RBS - a report commissioned by the bank by Sir Andrew Large, and one by Lawrence Tomlinson* who acts as a consultant to the BIS Department. Both reports, but particularly the latter one, were quite damning about the ...

A nation of DIY investors?

Research firm Compeer have reported that funds held by stockbrokers in "execution-only" accounts have increased by 20% in the first nine months of this year.  And a survey they undertook of 1,000 investors showed that half of them would invest without taking financial advice (i.e. by using an IFA or taking advice from a stockbroker for example).This growth in the DIY investor community might partly have been driven by the Retail distribution Review that took effect in January of this year ...

Pan African Resources AGM Report – a minor victory for shareholders on buy-backs

Pan African Resources is a South African gold mining company, but they are registered in the UK and hence hold their AGMs in London. This year it was at 10.00 am on the 22nd November in the City of London despite shareholders complaining about the 10.00 am start time last year. A full report is here, but here are some of the noteworthy points. Only the Chairman Keith Spencer was present from the directors, and he said the main reason for absence ...