The arrogance of the filthy rich

Arcadia now owned by Taveta, but still the Green family.
In fact Taveta has Philip Green as a director, not his wife.

It is plainly and simply theft but because he is rich and it is big business they call it asset stripping or some other misleading term.

I am so glad sometimes that I believe so much in karma.
I have said before that, feeling that, sometimes makes me uneasy as I feel am being " holier than thou" but in PG's case I will over-ride that unease.

Maybe he will follow Maxwell.

Not necessarily, some companies get very bloated over time with subsidiaries doing all sorts of things that are tangential to the main interests of the company and which they do not manage well.

Essentially venture capitalists buy these companies slim them down, usually be selling parts to other companies better able to manage them and make them profitable. Yes, this activity is open to asset stripping by unscrupulous companies, but the majority of such businesses work efficiently and well and save a number of companies from disaster.

In the same way there are many family or individually run large companies that are not public companies and where the owners do not exploit them for personal gain to the disadvantage of their employees. Very little is all bad, and nothing is all good.

If he does wish to put things right with the pension fund he may try to negotiate a deal with the tax man:
www.dailymail.co.uk/news/article-3707837/ALEX-BRUMMER-Sir-Philip-Green-did-not-heaven-earth-close-gaping-BHS-gap-571m-Does-REALLY-cash-pay-pension-bill.html

www.dailymail.co.uk/debate/article-3706115/ALEX-BRUMMER-Sir-Philip-Green-master-deceit-lose-knighthood-face-weight-law.html

Does anyone remember a case where, I think, some overseas hedge fund managers came in and bought up a chain of nursing homes then asset stripped them, leaving old people homeless?

Are these people born without a conscience or does greed make them lose all sense of morality?

Stansgran annsixty
Of course, wealth does not buy immortality and Green and his wife (and the rest of their family) will meet their Maker one day, but probably not before many of their workers have endured a poverty-stricken future and old age.

Karma - I must be too cynical to believe in it.

I'm sorry you lot !. He's got away with it and he can afford not to give a fig.

I just hope that he doesn't learn about these post, he would love it.

Not yet he hasn't. Let's look to the government to get a grip. That's what May indicated she would do in her speech.

Any new laws would not be retrospective though, would they?

I just remember him telling one of the committee not to look at him in a certain way - arrogant or paranoid?

What happens if Mrs G dies or decides to divorce him because she found someone even richer?

I think his telling someone to stop looking at him like that was a control freak's way of unsettling everybody. A bully's technique. Ugh.

Green is a dishonourable man if he allows the pension situation to continue while he and his family live it up on their yachts. Does he not realise that his reputation would be so much higher if he were honourable and generous. Does he not care what others think of him?

I feel sick these days when I hear the news of how men (for it is nearly always men not women) treat their fellow human beings. Some in business and banking seem to relish ripping off and cheating their fellows and some think nothing of ending the lives of innocents because they are at odds with the world. They are truly disgusting.

That said, I only know nice men. None would treat others like those villains in the news who rob, cheat, rape and kill.

Both the Fraud Squad and the Insolvency Service are investigating. Liquidators have strong powers to claw back money taken out of the Company by directors and I hope that they use them.
He has always been a dreadful man and the sale to Chappell at the very least throws up a lot of red flags.
He was blocked from landing his yacht at Greece after a couple of British tourists recognised it, ran off and got placards and ran back to the beach to quickly organise a protest. The local mayor turned up and tried to throw them off a beach but the Greek people objected as it was a public beach. The yacht eventually turned around and went away.
Protest does sometimes work. It would be great if unions around the world would prevent his yachts from docking. The rich work together through their Bilderberger, Navros and other meetings. The less fortunate should do the same through the systems they have.

Theresa May will do little, if anything, because its the way the Tories want the world, they believe in a way of doing things called neoliberalism, which means they want as little as possible rules for business (that's the liberal bit) and as little as possible run by the state but by private companies/charities, so they can mostly make their own rules. And they do, with leaders of academies earning huge amounts.
Philip Green is the immoral face of this, ducking & diving through rules for his own benefit.
I don't think he's done anything illegal though. I would take his knighthood away and stick it...well, this is too polite a forum to say that.
Thats why Jeremy Corbyn is so popular with ordinary people but not the ruling class like people who own the Mail etc. cos he is a real threat to their assets.
I know who I'm voting for!!

I have started a post on this vile man before. He should be stripped of his knighthood and made to make good the pension losses. It would be great if more marinas made him unwelcome, and also all his so called celebrity friends ( Kate Moss etc) should start distancing themselves from him. He is not only a thief, he is a bully and a moral bankrupt. Good on Frank Field for standing up to him. Another question though; when the expensive Goldman Sachs et all prepared the contracts for the sale of BHS to Dominic Chappell there are only two alternatives (1) They are hugely incompetent and didnt realise what was going on, didnt realise that Chappell was a bankrupt fantasist and that he (DC) didnt know what he was buying or (2) they pointed out the flaws in the potential deal and Greene chose to ignore the professional advice. It would be good to get them in to be questioned by Frank Field and team. This is very much our business despite it being a private company; if, as is likely, Greene reneges on his statement about 'sorting the pensions' then those employees will likely have to have their income topped up with pension credits, housing benefit etc., either that or the short fall will be picked up by the Pension protection Scheme which is funded by a levy on all company pension schemes. I fail to see why either route should be used to keep him and his loathsome wife on their yachts.

I know laws are necessarily retrospective, but they could effect is current business

I quite agree GillT57, I wish there was a like message on here

The regulator IS going to investigate PricewaterhouseCooper's audit of BHS. Whether anything will be done is another matter.

spabbygirl. But I dont agree with force and intimidation, which JC either cant control or decides not to control. I dont have a problem at all with peaceful ways of doing things.

I don't have a problem with rich people enjoying their money - especially if they are spending it in a way which keeps people in work, however, I do have a problem when that money is made by asset stripping a company and putting workers out of their jobs. Green obviously has no concern for his former employees. Boycotting his other businesses may make us feel better but it won't affect him at all. If enough people boycott them it could lead to loss of jobs for those working there.

obiolone There is no evidence of force or intimidation. The allegations are very vague and where there were details they have been proven false or exaggerated. If there has been any there is no evidence it has anything to do with Corbyn or his supporters. Everyone in the public eye unfortunately gets a certain amount of abuse.
Corbyn being asked to do something about it is him being asked if he has stopped beating his wife.
The allegations are just dirty tricks.

Enjoy your wealth that is fairly made and contribution made to the country in which it is made - Greens was put off shore - but wealth that is not yours to spend is theft. So he has stolen from his employees and the British tax payer.

There should be no honours it is an antiquated system making some people elevated above others for not very good reasons.or worse, no good reason at all.

Send him to jail............we are nearing as a society the days of 'off with his head'...........there is only so much having our noses rubbed in it that people will tolerate.

I hope his boat sinks....all 3 of them.

The Fraud squad are investigating Greene and I would think that his arrogant and bullying manner will not go down well with investigators. As to his knighthood; it was given for services to retail (what?). yesterday on Radio 4, a director of one of the many small businesses who supplied goods to BHS ( now in trouble, jobs lost, 1000's of £s lost), said that all Greene did was drive a very hard price from his suppliers to improve profit margins, he didnt improve turnover, so no particular skill there other than being a bully. Even Cameron got rid of him swiftly after the much heralded appointment as Czar of something or another, Greene's idea to help business was to stretch credit terms to their limits and beyond. He was quietly dropped, (sadly not over the deck of one of his yachts). The best punishment for him and his ghastly wife is social isolation and loss of knighthood, the yacht could be lonely as you drift around with no-one to show off to.

I agree totally with GillT57. Media pics of Kate Moss living the life of luxury with him and his daughter on their mega yachts kept flashing before my eyes, maybe because he looked lascivious all the time. It's the Caroline Aherne question isn't it 'what attracts you to the billionaire Philip Green, Kate Moss?' Strip him of the knighthood and make him pay back every penny needed to ensure that all BHS employees receive their agreed pension. I would also make him pay redundancy (call it what you will) to every employee losing their job as a result of his avarice.