BHS

[Del Fenner]

Am I the only one wondering why the police haven't arrested and charged anyone?

 

[Easy 10]

Looks like it.

 

[CHAPPERS]

Because Philip Green was a working for the government not long ago?

Thieving ****er should be in prison.

 

[franks brother]

And while the wealthy bitch about how many million the other shouldn’t have had, 11’000 staff lose their livelihood. These job losses are just collateral damage in the battle of the rich to be become richer

 

[SIMMO SAYS]

Am I the only one wondering why the police haven't arrested and charged anyone?[
Coz the scumbags look after themselves

 

[vegster]

Am I the only one wondering why the police haven't arrested and charged anyone?

Read Private Eye and you will find Mr Chappell was a disaster waiting to happen and Mr Green couldn't believe his luck when he took BHS off his hands. as others have said, the 11,000 odd staff don't count for anything I'm afraid.

 

[Leekbrookgull]

Can someone please explain (and keep it simple) how almost £600 m from the pension fund is missing/taking-out ?

 

[severnside gull]

Can someone please explain (and keep it simple) how almost £600 m from the pension fund is missing/taking-out ?

It was "misappropriated"
In any other context you would say stolen but when you're a paragon of all the Tory virtues a nod is as good as a wink.

 

[Westdene Seagull]

Poor old Philip Green - he had to offload BHS and avoid tax - otherwise how else could afford that essential new boat - http://www.superyachtfan.com/superyacht/superyacht_lionheart.html

 

[Bob!]

Can someone please explain (and keep it simple) how almost £600 m from the pension fund is missing/taking-out ?

It was "misappropriated"
In any other context you would say stolen but when you're a paragon of all the Tory virtues a nod is as good as a wink.

Why is it not a criminal offence to not keep the pension fund fully funded?

 

[knocky1]

Poor old Philip Green - he had to offload BHS and avoid tax - otherwise how else could afford that essential new boat - http://www.superyachtfan.com/superyacht/superyacht_lionheart.html

Yachts, Pension Funds, Maxwell............

 

[beorhthelm]

Can someone please explain (and keep it simple) how almost £600 m from the pension fund is missing/taking-out ?

Why is it not a criminal offence to not keep the pension fund fully funded?

because final salary or even many defined benefit pensions are not sustainable, especially with the current interest rates (indirectly pushing down bond prices). simply they have to payout more than the employers and employees ever put in. getting a penion fund back into the black is often why companies have huge redundancies, because it reduces the pension liabilities. many companies are essentially bankrupt if you count their pension fund liabilities.

whats most curious in such situations as BHS is why the pension fund doesnt buy the business as a managment buyout. one can assume the trustees would consider this and reject it as the company isnt sustainable.

 

[Tom Hark Preston Park]

Read Private Eye and you will find Mr Chappell was a disaster waiting to happen

This. Private Eye had Chappell sussed and were ringing the alarm bells earlydoors.

 

[carlzeiss]

Phillip Green live on BBC Parliament now

 

[CHAPPERS]

Told an MP to stop staring at him!

What a ****.

 

[alfredmizen]

Because Philip Green was a working for the government not long ago?

Thieving ****er should be in prison.

This

 

[alfredmizen]

because final salary or even many defined benefit pensions are not sustainable, especially with the current interest rates (indirectly pushing down bond prices). simply they have to payout more than the employers and employees ever put in. getting a penion fund back into the black is often why companies have huge redundancies, because it reduces the pension liabilities. many companies are essentially bankrupt if you count their pension fund liabilities.

whats most curious in such situations as BHS is why the pension fund doesnt buy the business as a managment buyout. one can assume the trustees would consider this and reject it as the company isnt sustainable.

Low interest rates put bond prices up not down , they have a direct effect on bond prices , not indirect, bond prices will go down when rates finally start to go up.

 

[The Andy Naylor Fan Club]

Coming across as a patronising bugger and trying to control the interview/committee. Also has quite a poor memory when it comes to some important questions!

 

[CHAPPERS]

Turns out he knows absolutely nothing about the books of the companies his wife owns and had nothing to do with the running of BHS between 2000 and 2012!

 

[Tom Hark Preston Park]

Can see him flouncing out of the meeting at this rate.