Summary
IT WAS surely surprising that many newspapers, policyholders and not a few persons active in political life have made a great outcry against Sandy Crombie, the chief executive of Standard Life insurance. Even The Herald devoted acres of page-one space, akin to a tabloid, to a lengthy account, plus photograph, of Mr Crombie looking suitably demonic, to punch home what was to all intents and purposes an ethically based attack on both him and his remuneration committee.
Perhaps a large percentage of the above worthy individuals have forgotten that all of us operate in a system which is not constrained by any ethical or moral constraints, nor one that places any emphasis upon the caring principle, either for individuals or society as a whole. Its unique driving force is to produce wealth and to decide its final destination, even to distribute a percentage to its shareholders. The chief executive managed the enterprise according to the dominant systemic principle.See the full content of this document
Extract
Standard Life Bonuses
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