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More idiocy from the T&G

What is the purpose of a limited company? To make money for its shareholders. Anything else is at best peripheral to that primary purpose.

So, savour this 'criticism' from the T&G of "US billionaire Nelson Peltz and his affiliates":

"Cadbury's is an iconic British brand and a very successful company which does not need the attention of Mr. Peltz," said Brian Revell, T&G national organiser for food and agriculture. "His intervention in Heinz has been a ruthless pursuit of profit for shareholders." (Source)

Mr Peltz is not one of those scary VC people, but rather the head of a publicly traded company, Triarc, and if a company wants to prevent its stock being traded it should never have had an IPO.

I do not suppose it is worth spelling out that shares in C-S are not all held by cigar smoking, top hat sporting plutocrats, or come to that by hair shirted Quakers, but rather by institutional investors quite probably managing the pension funds of T&G members, inter alia.

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Anonymous Anonymous said... 1:38 pm

Your 'union bites' are amongst my favourites, C. I suspect there is scope for a 'UnionWatch' blog devoted full-time to the idiocies of the British labour 'movement'. They are forever expressing such shock and surprise at the perfectly mundane and harmless workings of capitalism.  

Anonymous Anonymous said... 5:54 pm

Don't know whether neighbours of |BP Texas City or Union Carbide wd agree capitalism is harmless. Few large things are. (Esp. Gubbamints)

However, as regards the moronic fascists of the TUC, a UnionWatch cd be retro and chronicle the cleverness of the big unions in destroying their industries and then blaming Mrs Thatcher when she finally turned the subsidy tap off.

Also I blieve it's a legal requirement to make a profit.  

Blogger CityUnslicker said... 11:23 pm

I think this is all getting too complicated for the lefties to keep up with now.  

Blogger Croydonian said... 11:53 pm

David - yes, I do wonder what strange manner of universe they inhabit sometimes.

TG - I'd rather not inhale deeply in either locale, but we also have a perfectly good tort system.

CU - Indeed - confused? They will be.  

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