Thomas Crook
Aug 4th, 2009 by Donagh
Gardai arrest workers, assist Thomas Cook in meeting latest synergy targets, uphold right of CEO to rake in millions http://bit.ly/z8MZ5
From the Telegraph article linked to:
The bonus pay-out is part of a lucrative remuneration package that saw Mr Fontenla-Novoa’s total compensation soar from £2.89m in 2007 to more than £7m last year.
Thomas Cook’s remuneration committee has also handed its chief executive a 34pc increase in his base salary for 2009, up from £633,000 to £850,000.
The pay rise follows the board’s decision last year to increase Mr Fontenla-Novoa’s maximum potential bonus from 100pc to 175pc of base salary.
And
The £5m synergy bonus came after Thomas Cook twice exceeded targets, latterly in September by exceeding a £204m synergy target. The targets were not purely based on redundancies and cuts in other fixed costs but also by securing improved terms with accommodation providers and overseas agents, Thomas Cook said.
Joe Higgins via twitter: Thomas Cook Workers Arrested - Protest at 1pm at Fore Courts http://www.joehiggins.eu/476
THOMAS COOK WORKERS SUPPORT GROUP – CALLS ON WORKERS TO PROTEST AT 1pm TODAY OUTSIDE THE FOUR COURTS
The first story on Morning Ireland talking to workers who are currently residing in Bridewell Garda Station.
Reports now estimate 17 million gardai involved in today’s raid on Thomas Cook’s and that Eoin McLove was in the buiding at the time.
Boo, hiss!
The Thomas Cook Affair will, of course, have incredible impact upon customer attitude to the company, which used tactics not wholly dissimilar from those of William Martin Murphy, who in 1913 called in the law on horseback to charge strikers during the Lockout in Dublin. No, the comparison is not so stretched; the idea then, as now, was to break trades’ union power and send a warning to anyone else who would try to undermine the ‘rights’ of big business. Perhaps the workers will in the end receive decent redundancy terms, but that is only one element of what has just happened.