Royal Ravings

I have to agree with those who say the Royal Family would be well advised to stay away from business; despite them becoming increasing savvy in their own commercial ventures.

I was appalled to learn, as I returned to the UK, that Prince Andrew is defending burgeoning bonuses in the Banking Sector. Talk about being out of touch with the real world! Has the recession completely passed him by? And this, in the same week that President Obama announced that the US will impose severe restrictions on salaries paid to senior executives of organisations it was forced to rescue during the financial crisis; suggesting some could see salaries cut by up to 90%.

The Prince is reported to have suggested that we should not demonise the banking profession and describing bonuses as ‘minute’ in the grand scheme of things. I was previously of the opinion that they had done a pretty good job of demonising themselves by demonstrating the very worst of unprofessional traits, that of institutional greed overtaking professional ethics.

I recognise and acknowledge that not all employees of the UK Banking and Financial sector have access to such lucrative remuneration packages; especially our PAs employed within it, but I do feel that those responsible for strategic policy relating to salaries and benefits have some way to go before they have completed their ‘community service’ and are released to return to near normal life. If Prince Andrew disagrees I suggest he should meet some of the small businesses currently suffering at the hands of the banking nightmare or those trapped with negative equity in a terminally sick property market. Or is he himself insulated from reality in a recession proof job?

Members’ thoughts would be welcomed.

Gareth.