nef idiotics
Posted by Christie Malry on July 2, 2011 at 10:10 pm
Andrew Simms, a nef fellow and their former Policy Director, tweets the following glib observation:
Generally speaking, employees like to be paid in cash. So unless those 840 employees are prepared to receive their pay entirely in shares which they can't touch for three years, the two figures simply aren't comparable.
nef really are as dumb as a bag of hammers, aren't they?
I'm sure given the choice of no pay or shares they can't touch for 3 years many would opt for the shares.
They could always borrow against the value.
They might not be directly comparable but we can discount the costs of borrowing for 1.5 years on average quite easily and produce a comparable figure. Given current interest rates this would be close enough to 9 million as makes little difference.