A Lesson from the UK?

Shareholders lambast M&S over pay
Shareholders lambasted Marks & Spencer today for paying its executives — led by Stuart Rose — huge bonuses while being miserly towards its staff on the shop floor.
Now why would stockholders want to see employees paid more?
Anthony Lytham, a private investor, speaking at today's annual meeting, said: "There have been some beautiful bonuses on the board up there but not so good down on the shop floor. The staff are the backbone of the company and they deserve a little more than you gave them last year."
Good employees help the bottom line - a lesson that several big box stores seem not to have learned. Walmart, of course, is just constitutionally unable to pay more for anything than it absolutely must. But Circuit City (which may not survive) has not yet learned that you can't save a failing company by getting rid of your most productive employees.

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