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What a difference a recession can make! Over two years ago we were in the grip of corporations bragging about their profits and a never ending treadmill of a drive for more and more growth.
We saw banks proud of their billions made each year. BT would have their figures broken into how much they made each second. No one cared about the bonuses and capitalism was not the enemy or scourge of the Country.
Well isn’t it strange how times change? This week British Gas reported profits and the Chief Executive was having to defend the amount made and justify investment in to the business.
Now this is really where we have got something badly wrong and very quickly we need to get some checks and balances in to UK PLC or we will see our economy get more and more tied up in a soul searching quagmire.
The initial facts that we need to establish are that a business has to run at a profit, humans need rewarding for their endeavours, and competition is a good thing.
From there I think it is pretty simple to assess that ripping people off is fundamentally wrong and that the customer is king. So I do not understand why gas and oil prices don’t rise and fall freely as market prices fluctuate. The arguments proffered in this regard always look weak and flimsy and how much easier to decide a profit margin and work to it. This should give happy customers as well at transparency.
Simples! As a Russian meerkat might say!
26 Feb 2010 10:22:33