Bonus millions for BP boss scandalous

The British oil company BP announced Tuesday it would pay compensation amounting to 14 million euros to CEO Tony Hayward, who it has now been confirmed will resign. At the same time the company announced losses of 13 billion euros for the second quarter of this year. Scandalous, the left-leaning daily De Morgen finds: "Criticism of such a pay-off is no longer called for because before you know it you're a spokesman for the envy-society that doesn't understand how the modern market society works and what incredible responsibility CEOs bear in it. … No one doubts that hard work and major responsibility should be rewarded but the bonuses with which top CEOs are spoiled nowadays are not just exorbitant, they're scandalous. Particularly when they're not able to prevent catastrophes or achieve company results that could justify such an income."

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