I wonder why shareholders and depositors are not getting a larger part of the profit pie? Is it perhaps because they are so lukewarm in lobbying?
Reading the international maritime press, one is happily surprised that even in these difficult times, enterprising firms with a business savvy board of directors, able management and good company culture, still give out between 25-50% as dividends from generated profits. And this in the cutthroat shipping sector where several companies are filing for bankruptcy, cutting back orders, laying up ships, seeing vast lowering of rates etc.
At the same time could one mention that in one of Lloyds’ online newswires, Joep Gorgels, head of European Transportation at Fortis Bank Nederland, was quoted as saying that ‘We have to find €500 billion, needed for ship financing between 2010 and 2012’.
Even locally at least one relatively new entrant financial entity has declared that it has made close to €36m in profit. And this from a firm which, if I have not got my facts messed up, stated at its inception that it was in shipping financing.
Given the above, do savers have to be content with relatively moderate interests from less secured investments? Is this fair? Isn’t this a Hobson’s choice? At a time when Pope Benedict has stated that solidarity is not enough (address to one of Brazil’s regional bishops’ Ad Limina visits) and that fraternity must be practiced. Is this why there is so much pressure for divorce? As this has long been translated in wrecking the Maltese islanders’ previous penchant to regard each other as belonging to one family, animated by their confessional beliefs, now the fashion bombarding us is one of capital-,land- and already voiced for persons-grab by the unscrupulous masquerading as the virtuous.
Those so keen on a personality cult which does not put to shame that their communist Chinese friends?
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