Mr Chakraborrty really doesn’t get it

Staffing Shirebrook alone was worth £50m a year to these two companies, estimate the MPs. Some people were making a lot of money from the degradation of others.

Err, no, not really.

The vast majority of that £50 million was the wages paid to the temp staff. For that is the turnover, not the profit. Thus the actual phrase should be that the tempt staff were masking near £50 million a year….

And this is fun too:

Blair bestowed that honour despite Green having engineered the payment of a £1.3bn dividend to his wife, Tina, in the tax haven of Monaco – a historic handout that avoided around £300m in taxes. The tax savings on that one payout were worth 10 large secondary schools

Where the the avoidance in a foreigner living in foreign not paying British taxes? BHS had already paid corporation tax (oh yes it did!) so, err?

10 thoughts on “Mr Chakraborrty really doesn’t get it”

  1. Filling warehouses with sub-mcjob temps in Shirebrook? If the agency was making much more than a 5% gross margin (after all employment costs and taxes, before their own overheads) then I’ll be disappointed in Ashley and his bargaining skills.

  2. The Guardian made a £178m loss last year so his understanding of figures is shared throughout the organisation.

  3. How much did GMG make from the sale of the Autotrader business? How many more years of losses on the scale of last year can they support?

  4. Jim,

    About 5, by my reckoning.

    The numbers at the Guardian alone are staggering. They have 1000 staff and lost £69m. That’s… £69K each. Seriously, wouldn’t it be cheaper just to shut down the offices and pay staff to stay home?

  5. Seriously, wouldn’t it be cheaper just to shut down the offices and pay staff to stay home?

    But much better for the rest of us if Scott Trust Ltd is bled dry first, so they can no longer propagate their fuckwittery.

  6. Expect a few more ‘opinion pieces’ demanding State funding of newspapers to appear soon.

    They will also whore themselves to any old billionaire who fancies it, when the time comes.

  7. Come to think of it, many rich men probably have much cheaper methods for getting papers to carry, or suppress, stories than actually buying the business.

  8. Remember when Tiny Rowland bought The Observer and it suddenly became his way of attacking the management of Harrods, when it had previously been attacking Lonrho? Those were the days.

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