Nice little letter in the FT today from Ben, who happens to be someone I know. He goes by the name @BJ_Coleman on Twitter. Almost attributed it to @BenColeman who turns out to be a “pie eating web designer” from Bristol of all places.
Bonus transparency, not spin, needed
FT, 6 December 2010
From Mr Ben Coleman.
Sir, It is meaningless for banking chiefs to trumpet that the “average” bonus for 200,000 employees is £15,000 (“Vilified lenders lead charm offensive”, November 26).
Taking the average to be a simple arithmetic mean, out of the total £3bn bonus pot, 500 top brass could in theory get £5m each and the remaining 199,500 staff only £2,500 each. More transparency is needed to avoid the impression of spin.
London W12, UK