A Rough Deal

(polishedprices.com) - However skeptical, or some might say cynical, one becomes about large companies, sometimes I think they do rather get a bit of a rough deal. Of course, I am not referring to Gem Diamonds, which I suppose can hardly be called a large company, where its highly rewarded management having successfully kept their jobs and take home pay, having masterminded over a 90% reduction in its share price since it peaked about a decade ago. Amusingly, if you are at a loose end and go to the Gem Diamonds website it refers to itself as ‘a leading global producer of diamonds in Lesotho and Botswana’, which provides an interesting meaning to the word ‘global’, especially when its Botswana operation has been written off and closed down. Nor am I referring to the head honcho at the Pearson Group, one John Fallon, who was suitably rewarded with a 20% pay increase despite the company recording its biggest ever loss of £2.6 billion. In this instance, I am thinking of my old chums at De Beers.