Pimlico Flats isn’t Joking about Banks

Things are a bit shambolic on this website right now, because I’m scrambling around trying to go on holiday, and every government organisation known to man has decided to make this week the one in which they will write to me giving me 2 weeks to reply – reasonable enough when you aren’t going on holiday for 2 weeks …………

I have a great bundle of blogs half written, all about the secrets of Housing Benefit, Deposit Schemes, Lawyers who don’t understand the Law, and Property Blogging, but they all need careful consideration, so instead I’ve decided to plagiarise. Who better to plagiarise from than new star on the Internet Jocelyn King. Earlier this year Jo appeared on the internet, and immediately registered in my conciousness as a woman who had been there and done that. If you stalk her (like I have) you will see the fresh aroma of pure experience, she doesn’t talk the marketing talk, she doesn’t walk the selling walk. She is just plain and simply a woman who makes money out of being an ethical property developer and landlord. Personally I follow every move Jo makes on the internet (aka stalking) & today I propose to steal her blog, but improve it by making it generalised.

Insert Your Variable in the field { Bank}

Dear Mr Chairman of { Bank}

I am in receipt of my voting papers and Summary Financial Statement for the year ended 4 April 2010 and despite being an extremely busy person I feel that I can not just ‘cast my vote’ without making comment on the Remuneration of the Directors.

I have studied the detail provided and it is clear from the levels of remuneration for 2009 and 2010 that there has been no acknowledgement by the Directors of the financial difficulties that the country and the banking sector are in. Whilst the Society may have contractual obligations that it is committed to from previous years when times were better, it is completely within your powers to have acted by 2010 on what was clearly a serious problem emerging in early 2008.

Whilst the Society may be one of the strongest in the sector there really is no justifiable reason why anyone on our very small and fragile planet should be worth more than £150,000 per annum remuneration. The situation is made even more distasteful and inappropriate as some of the directors are working for other companies and presumably receiving remuneration from these positions too. How can anyone give 100% to their position if they are working for other organisations too?

It is important that { Bank}  Directors wake up to the real world like the rest of us have had to and accept that things are changing. I feel that I have no choice but to vote to re-elect the Board of Directors as what is the alternative? However, morally I feel it is my duty as a member to point out that I am not at all happy with the levels of remuneration or with the Directors apparent lack of acknowledgement that remuneration MUST be reduced drastically to reflect the actual work that any one person, no matter how skilled, can actually contribute.

Yours sincerely

Now if you want to see the original go to JoKing on Property, in spite of the name this is one serious babe.