The arrogance of the filthy rich

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

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

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

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.

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!!

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.

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.

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.

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?

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.

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.

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.

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?

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.

Maybe he will follow Maxwell.

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.

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.

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

Asset stripping is a filthy business

The factor that enabled PG and family to asset strip BHS for personal gain is that the holding company, Arcadia Holdings is a private company so is not quoted on the Stock Exchange, has no outside share holders and is generally exempt from much of the oversight and accountability that applies to public companies.

I am wondering whether it would be possible for the law to be changed so that private companies with either assets or turnover above a certain limit have to meet enhanced disclosure and corporate governance rules that would restrict the proprietors ability to transfer company assets into personal assets.

This is a subject on which I am ignorant so I have no idea if it is possible. A number of the constituent parts of Arcadia were public companies until bought up by the group.

Absolutly disgraceful,three bleddy luxury yachts,while other people don't even have enough to eat.How do they get so bleddy rich anyway.Skullduggery going on somewhere.Take all the goodness from their lands and throw them back the crumbs,(in so called aid) A good shake up is needed in the world.

I also never shop in any of these places.

Knighthoods are distributed two a penny these days. I also do not believe it should be bestowed on someone cycling around a cycle track and picking up a gold medal at the end of the run. Green I hope will have it removed.

Thanks DD useful information. Sadly I can't withdraw my custom from those as I never shop there

The other shops in the group are Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Wallis.

Top shop is one. But as I have never shopped in there that's no good for me.