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Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. Business, that's easily defined - it's other people's money.
Britain’s rich are getting richer.
Britain’s highest earner, businessman Philip Green, was paid a staggering £157.7 million in dividends this year, according to the Sunday Times Pay List 2002 published today.
Mr Green, who left school at 16 and is now credited with turning around BHS, replaces Formula One chief Bernie Ecclestone, 71 - who was last year reported to have made £788 million from sport - in the top slot. Mr Green lives in an £8 million villa in Monaco, commutes to London by private jet, and was rumoured to have spent £5 million on his 50th birthday party this year.
The newspaper’s list of Britain’s 500 highest paid people shows a trend of the rich getting richer. The total combined earnings is shown to have risen from £3.323 billion to £3.446 billion, with a minimum entry of £1.537 million in cash from salaries, dividends or share-sale proceeds.
There are a record number of women on the list, including Harry Potter author J K Rowling ranked 22 with £28 million. But women still take only 59 of the top 500 places.
So this year’s top 10 earners are:
• 1. Philip Green, 50, £157.7 million from business.
• 2. John Frieda, 51, £153 million from business.
• 3. Peter Prowting, 77, £88.5 million from business.
• 4. Allen McClay, 70, £66.135 million from pharmaceuticals.
• 5. Chris Ingram, 59, £64.934 million from TV and media.
• 6. Wanda Brake £63.705 million from business.
• 7. Frank Brake, 68, £63.635 million from business.
• 8. Stelios Haji-loannou, 35, £63.451 million from business.
• 9. William Brake, 70, £59.692 million from business.
• 10. John Salmon, 65, £58.261 million from business.
[source:dailymail]
Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. One more thing is in the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. Remember, a business that makes nothing but money is a poor business.
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