Friday, October 21, 2005

Robber baron?

"Philip Green has banked £1.2bn (approx US$2.1bn)…the biggest pay cheque in British corporate history…and more than four times the [Arcadia] group’s pre-tax profits of £253m".

"[Arcadia’s] balance sheet bears the scars of a statutory net debt now standing at more than £1.3bn. A business which boasted net assets of £303m in August 2004 now has net liabilities of £807m".

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