[Gllug] SpaceShipOne launch

[Chris Bell]

On Tue 22 Jun, Nix wrote:
> 
> On Mon, 21 Jun 2004, Chris Bell stated:
> >    There can be a situation in which no single person owns anything like a
> > majority of any company, but the same small group of friends and associates
> > have a controlling stake in many companies.
> 
> In Japan, this was the common case until recently, and is still
> extremely common, although the informal corporate groups are mostly
> falling apart.
> 
   In Britain there is a very small shortlist of company executives who have
extremely well paid part-time controlling jobs in large numbers of
companies. They may have absolutely no knowledge about the widgets produced
by any company, and by the time projects, etc, reach these executives for a
decision the answer is normally self evident, so they are just required to
provide a rubber stamp. Otherwise the standard decisions are to cut R&D and
maintenance (too expensive), redundancies (efficiencies), and outsourcing
(saves on pensions). New untrained staff are cheaper than experienced staff.
Staff training costs money, so don't bother. The result can be an increase
in dividends paid to shareholders, but the executives have moved on before
the consequencies are realised.

-- 
Chris Bell

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