BHS Collapse - Defensive or what?

[TamaraHiddlestoned]

Watching the Committee interviewing 'Sir' Philip Green. Clearly he is a very clever man. But his devious, avoiding, vague & insulting non-answers are making my blood boil. He seems to be using every tactic possible to protect himself. No thought whatsoever about the 20,000 pension scheme members & their situation. Why the feck is he allowed to get away with this?

[TamaraHiddlestoned]

Oh, he has actually apologised. My mistake. Pales into insignificance compared to his tho....

[TamaraHiddlestoned]

OK, I hear he'said going to contribute £275m to plug the pension fund hole. Good for him.

[lljkk]

lol @ backpeddle...

I think he's a bit of a responsibility-avoiding sleaze, too, but if he puts the pension right then he will somewhat redeem self.

[user1464519881]

He's doing very well - good for him particularly after 6 hours of it. An honest good man.
parliamentlive.tv/Event/Index/e81170bd-19b1-4a53-a96b-874b0cdc2f7f

[FarAwayHills]

I don't believe that he was not aware of the great big hole in the BHS pension fund at the time he was ripping money out of the company

[prh47bridge]

I don't believe that he was not aware of the great big hole in the BHS pension fund at the time he was ripping money out of the company

At the time BHS were paying dividends, primarily to Green's family, there was no great big hole in the pension fund. Dividends were paid up until 2004. The pension fund was in surplus until 2009.

[caroldecker]

Pension liabilitie have grown massively over the last 5-10 years, mainy due to very low bond yields used to value them. The scheme would be in surplus if interest rates were above 2%

[lljkk]

Greens have made millions if not billions out of their retail empire. Sir PG can well afford to bail the pension fund out.

[user1464519881]

Most large pension schemes are in deficit in the last few years. There is lot of misconception that people have about business. They just see - ah someone has done well so I hate them and they must have broken the law. It is called jealousy and no wonder most religions have it down as a sin.