Prem Sikka (@premnsikka )

Prem Sikka

Bio Emeritus Professor of Accounting. If with all your effort and might you do not reach the mountain top that is not failure; failure is that you did not even try.
Location UK
Tweets 12,2K
Followers 51,2K
Following 49,3K
Account created 24-04-2014 16:50:12
ID 2461924214

Twitter Web App : James Doleman Thank you.
The iron law of capitalism is that those producing poor goods/services get sued and can be put out of businesses.
However, drug companies are permitted to privatize profits and socialise losses. Does this create moral hazards and encourage companies to misbehave?

Twitter Web App : Mr Whitehouse Yes Germany has a better system of corporate governance. It was promoted by the US and the UK and they persuaded Germany to adopt it, but then ignored if for their own place.

Twitter Web App : nigelj Theresa May Theresa May used the proposal to become Tory leadership and then yielded to the CBI/IoD by doing nothing. Tories are generally an anti-democracy party.

Twitter Web App : Zak Bellerophon Labour manifesto promised worker elected directors for large companies.
Will they "change once they taste power/wealth"? May be, but there is little evidence to support that from EU countries who have long had worker directors on boards. Directors need to be regularly reelected.

Twitter Web App : If Arcadia had worker-elected directors they would not have permitted neglect of the pension scheme and would have sought early resolution. Just now, in the UK House of Lords, I urged the govt to legislate to create worker directors for large companies. Govt is not listening.

Twitter Web App : 🚨🚨BREAKING: Outsourced workers at Uni of Greenwich will vote on strike action on pay, conditions & discrimination as part of our campaign to END OUTSOURCING.

The IWGB served 🗳️ notice of ballot 🗳️ on Greenwichs subcontractor Sodexo yesterday 🔥🔥🔥

Twitter Web App : Coronavirus vaccine: Pfizer given immunity from legal action by UK govt.
Why does the company need immunity? Does it not have any confidence in its vaccine? Has it not been thoroughly tested? Who will indemnify the people suffering adverse consequences?
independent.co.uk/news/health/co…

Twitter Web App : Jobs for Mates - Business partner of Jacob Rees-Mogg, who is also a former vice-chair of the Conservative Party, appointed to a senior role at the Department for International Trade.
Shuffling money and power to Tory friends.
bylinetimes.com/2020/12/02/chu…

Twitter Web App : UK govt refuses publish “a list of all companies who were contracted to supply PPE as a result of the high-priority lane”.
What is it hiding - chumocracy, corruption and cronyism? Billions handed out without competitive tenders or value for money.
theguardian.com/world/2020/dec…

Twitter Web App : The London Laundromat: Italian mafia probe shows banks exposure to massive alleged laundering scheme. Companies in UK used. Some UK banks considered to be more lax and accommodating.
icij.org/inside-icij/20…

Twitter Web App : UK business secretary asks the insolvency watchdog to examine whether the conduct of directors at Arcadia led to problems for the group’s pension fund.
How many years will that take?
We are still waiting for a report on Carillion, collapsed in Jan 2018.
theguardian.com/business/2020/…

Twitter Web App : The London Laundromat: Italian mafia probe shows banks exposure to massive alleged laundering scheme. Companies in UK used. Some UK banks considered to be more lax and accommodating.
icij.org/inside-icij/20…

Twitter Web App : Barely four weeks to Brexit and we still on't know if will have a deal, no deal or numerous variations thereon, far less plan for all eventualities. What could go wrong - queues at ports, loss of jobs, markets, price rises, goods shortages, higher travel costs & phone charges?

Twitter Web App : A Tale of Two Countries: Indian state bars PricewaterhouseCoopers (PwC) from participating in any state govt information technology projects for two years for poor practices.
UK rewards audit firms delivering dud audits with PPE contracts.
economictimes.indiatimes.com/news/politics-…

Twitter Web App : Getting my tutees to review this video before our meeting this week; Prem Sikka tells us "In accounting terms, tax and wages are a burden - dividends are a reward"
Pinstripe mafia: How accountancy firms destroy societies: youtu.be/qvyv6oP3uKg via YouTube

Twitter Web App : UK business secretary asks the insolvency watchdog to examine whether the conduct of directors at Arcadia led to problems for the group’s pension fund.
How many years will that take?
We are still waiting for a report on Carillion, collapsed in Jan 2018.
theguardian.com/business/2020/…

Twitter Web App : Incompetence: Tories gave PPE contracts to companies without any competitive tender. It is the same elsewhere too. £425m free school meals contract given to a company despite concluding that it did not have the financial capacity to deliver.
theguardian.com/education/2020…

Twitter Web App : Humans waging 'suicidal war' on nature, says UN chief. And corporations are at the forefront, enriching shareholders, promoting new consumer fads in a throwaway society. Taming corporate power is key requirement in saving the planet & humanity from itself.
bbc.co.uk/news/science-e…

Twitter Web App : The cost of a first class stamp to rise by 9p to 85p. All for worse service. I remember when we used to get 2 deliveries a day. Now they want to end Saturday deliveries. Soon they will say that the post volume has decreased & another price rise is needed.
bbc.co.uk/news/business-…