Thursday, 24 June 2010

Network Rail directors show restraint

Eye salutes the restraint shown by Network Rail's directors.

Paid a mere pittance these noble figures bestride our industry like veritable colossi.

So it is only right that their paltry salaries should be boosted to enable them to put bread on the table for their starving families.

With total annual bonuses for the six top directors amounting to a piffling £1.34 million, it is surely only right that they should also receive management incentive bonuses adding up to £906,000, making a total of more than £2.4 million.

After all - just how many Iainlands can you buy for such a derisory amount?

UPDATE: This from Steve Strong...

It's Network Rail's remuneration committee that you should be having a go at!

They set these outrageous amounts.

And of course the NR Board could always turn the bonuses down. But don't hold your breath.

UPDATE: This from Philip Hammond via the BBC...

"Network Rail is of course a private company," said Mr Hammond. "But one that is dependant on taxpayer funding."

"In the week when everyone has been asked to share the burden of reducing Britain's deficit, people will rightly be asking how Network Rail's top executives feel this is appropriate."

UPDATE: This from Sir Humphrey Beeching...

No need to hold your breath.

My departmental colleagues tell me that NR Directors intend taking their full bonus entitlement.

UPDATE: This from a Time Lord...

The BBC story on NR's bonuses uses an unusual picture of the company's Chief Executive.

Do you think they had this lookalike in mind?

One is a feared genius whose creatures are made in their master's image, they seek to rule the universe and those who do not obey are immediately exterminated. The other of course invented the Daleks.

Do you think they are related? (No! Ed)