Old Project Avalon Forum (ARCHIVE) - View Single Post - Many heads of companies are resigning unexpectedly!! Why??

gscraig · 03-11-2010, 11:28 AM

Found this looking for a story that was on the bottom of CNN's ticker related to CEO resigation rates last night. I've yet to find the story, but will share once I do.

This was released 12/22/09, and I will paste most of it because the site is a subscription site, which I joined to again temporarily access for free this article that was passed on to me. Otherwise I would not paste the story. Fortunately, it is rather brief story.

The premise is similar to that of Washington's officials; Retirement, Resignation, and Scandals.

COMMONS set for departures of 120 MPS (Member of Parliament)
FT.com (Financial Times)
Jim Packard 12/22/09

More than 120 MPs plan to quit the House of Commons at the next general election, taking pay-offs of up to £64,800 each, in what threatens to be the biggest exodus of members for 60 years.

Almost a fifth of all sitting MPs have decided to leave parliament without contesting their seats in the poll expected in May, according to UK Polling Report, a website that is monitoring the growing list of departures.

“It’s equivalent to £1,000 a month, tax-free, for the next five years,” said one government whip. “That is enough money to focus people’s minds. I guarantee you will see more MPs leaving because of that.”

Taxpayers are likely to foot a bill of about £10m for resettlement grants to departing MPs should the Conservatives win the election. At least 121 MPs have said they are leaving parliament, just short of the record 128 who quit voluntarily in 1945.

Labour leads the list of departing members, with 78 of its MPs expected to go. Among Conservatives, 34 members are expected to quit, with seven Liberal Democrats and two other MPs also leaving.

The grants are calculated on a sliding scale of between six and 12 months of an MP’s salary and depend on age and length of service. From the next election, MPs who leave parliament will receive a smaller payment of two months’ pay – about £10,000 – under reforms put forward by Sir Christopher Kelly.

Rosemary McKenna, a Labour backbencher, said: “I think a lot of people are still considering whether to go.”

As well as the 121 MPs who have already announced their retirement and others who are expected to follow suit, the Commons is braced for involuntary departures. Another Labour backbencher expected many more to lose their seats in the election.

A sweeping Conservative victory could lead to an estimated 200-250 MPs leaving the Commons, and an equivalent number of new entrants. The upper estimate is almost double the 136 members who left at the 2005 election.

of all parties are voicing concerns that, as a result, the next parliament could be bereft of political experience and that a Conservative administration might struggle to appoint strong candidates to junior ministerial roles.

The pay-outs to departing MPs, excluding a separate “winding up” allowance, could be as much as £10.8m based on an estimate of 225 leaving and receiving a median £48,000 each.

03-11-2010, 11:28 AM	#50
gscraig Avalon Senior Member Join Date: Mar 2009 Posts: 335	Re: Many heads of companies are resigning unexpectedly!! Why?? Found this looking for a story that was on the bottom of CNN's ticker related to CEO resigation rates last night. I've yet to find the story, but will share once I do. This was released 12/22/09, and I will paste most of it because the site is a subscription site, which I joined to again temporarily access for free this article that was passed on to me. Otherwise I would not paste the story. Fortunately, it is rather brief story. The premise is similar to that of Washington's officials; Retirement, Resignation, and Scandals. COMMONS set for departures of 120 MPS (Member of Parliament) FT.com (Financial Times) Jim Packard 12/22/09 More than 120 MPs plan to quit the House of Commons at the next general election, taking pay-offs of up to £64,800 each, in what threatens to be the biggest exodus of members for 60 years. Almost a fifth of all sitting MPs have decided to leave parliament without contesting their seats in the poll expected in May, according to UK Polling Report, a website that is monitoring the growing list of departures. “It’s equivalent to £1,000 a month, tax-free, for the next five years,” said one government whip. “That is enough money to focus people’s minds. I guarantee you will see more MPs leaving because of that.” Taxpayers are likely to foot a bill of about £10m for resettlement grants to departing MPs should the Conservatives win the election. At least 121 MPs have said they are leaving parliament, just short of the record 128 who quit voluntarily in 1945. Labour leads the list of departing members, with 78 of its MPs expected to go. Among Conservatives, 34 members are expected to quit, with seven Liberal Democrats and two other MPs also leaving. The grants are calculated on a sliding scale of between six and 12 months of an MP’s salary and depend on age and length of service. From the next election, MPs who leave parliament will receive a smaller payment of two months’ pay – about £10,000 – under reforms put forward by Sir Christopher Kelly. Rosemary McKenna, a Labour backbencher, said: “I think a lot of people are still considering whether to go.” As well as the 121 MPs who have already announced their retirement and others who are expected to follow suit, the Commons is braced for involuntary departures. Another Labour backbencher expected many more to lose their seats in the election. A sweeping Conservative victory could lead to an estimated 200-250 MPs leaving the Commons, and an equivalent number of new entrants. The upper estimate is almost double the 136 members who left at the 2005 election. of all parties are voicing concerns that, as a result, the next parliament could be bereft of political experience and that a Conservative administration might struggle to appoint strong candidates to junior ministerial roles. The pay-outs to departing MPs, excluding a separate “winding up” allowance, could be as much as £10.8m based on an estimate of 225 leaving and receiving a median £48,000 each.