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Expenses – we’ve heard about the politicians, now what about the bosses? May 13, 2009

Posted by tomcwu in News.
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Carphone Worker is not a frequent reader of the Financial Times.  But leafing through a discarded copy on the train yesterday, your correspondent came across this comment, concerning “C-suites” – i.e. senior corporate executive teams.

C-suites around the world are, with few exceptions, hypocritical in the extreme, demanding austerity from workforces while living high on the hog themselves. There is a way this could perhaps change for the better. Organisations that want to crack down on such profligacy could institute a system of 360 degree internal transparency. Every quarter, listed companies could publish, for internal consumption, a department by department account of the expenses of the employees making the 10 largest claims. That would make a dent in the corporate AmEx bill.

How about it, Charlie D?

Carphone Worker has already heard rumours of £500+ per night hotel rooms for consultants and senior management, while employees put up with a pay freeze and targets that only go up while support goes down.  But will any of the Carphone Warehouse board reach the heights of the executive mentioned in the article who spent $17,000 on  a “travelling toilette box”?  We need to know!

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1. tomcwu - May 21, 2009

Readers may be interested to know that we have received a couple of communications from someone claiming to be an ex Senior Manager at Carphone Warehouse. Perhaps that is why they write to us in capital letters, LIKE THEY ARE REALLY ANGRY AND SHOUTING ALL THE TIME.

Anyway, they say there is no culture of luxurious expense claims. We can’t verify this, as they don’t say who they are and we still hear from other sources that things are not always so frugal at the top.

But whatever – the point is, if there’s nothing to hide, why not institute the sort of transparency suggested, eh?


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