General Forum

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

The Beonic Man — Sat, 12 Jan 2008 20:08:52 GMT

Hi saf, good to see you around. I was starting to miss your posts, I always enjoy reading them. I hear what you are saying and I knew that was coming (about me being part of the problem and donating to charity etc) which I do, but I could do alot more you're right. Whilst I agree with your points I also think that there is still a lot more that could be done by the people that contribute to the problem far more than I do as a consumer. The people that can make a difference are the policy makers in Government, the buyers for companies and the more senior executives they report to who ultimately think only of increasing profit. When you have made your millions and you are well off enough, you don't need to keep making more. There has to be somekind of stop gap in place.

How you implement that I have no idea and I suspect that it is practically impossible for all sorts of reasons but I still raise the point anyway because it is an important one. Iraq was about oil. Everybody in every part of the world knows that. People lost lives and families suffered when they really didn't need to. But they did because of our greed. I personally could not stop that from hapenning, but politicians could, and several tried. I also have no control over what companies do I merely raise the valid point that while I have to look at labels on every day products when I am in the supermarket that mention not tested on animals or ozone friendly etc, I know that its rubbish.

They still do it but they give the responsibility to China because they don't care what happens to that environment or to those people, all they need to do is justify that they no longer do it in Europe. Anyway, I will stop there because ultimately you are right that this is the planet we live on and how it is, but that doesn''t mean I have to like it, to support it or to agree with it. I can still buy my nice products but they can be manufactured using an entitely different model, IF they were prepared to scarifice some profit. I am done.

Simon.

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

ed7 — Sat, 12 Jan 2008 20:04:00 GMT

The Beonic Man:

The problem is, China IS the new Denmark! And the new England, and the new Europe, and the new rest of the world! Money=corruption. Lets not hide behind the facts. Cheap labour to maximise profits at the expense of polluting and not giving a damn about the people of China. Its exploitation whichever way you look at it. It makes me laugh how Europe and recently America go on about global warming and protecting the environment but they have absolutly no problem at all shoving it all off to China and letting them suffer, complety exploiting them to get the cheapest possible trade. Pathetic. Who do we destroy after we're done with China? The greedy West. I'd much rather pay for a product knowing that someone is getting a good salary from it, or that it is making a positive difference in some way or funding research etc. Not just adding to someone's already greedy pay packet.
Simon.

you are only in business to make money!! fundamental ingredient ,but i there is difference between profit &greed

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

saf — Sat, 12 Jan 2008 17:35:50 GMT

It’s not that gloomy, Simon… it’s just life itself (on the planet Earth), I’m afraid.

What are the alternatives for e.g. a Chinese worker (since you mention China): to accept the job offered by the foreign exploiters or to accept a less desirable job – or perhaps no job at all?

You are right about “greedy West”, however, it’s you and me among others there who want more, better and cheaper things – or don’t we?

For peace of your mind, while getting less general – instead of saying Europe and America do this and that – you could use what you save (on buying the cheaper things e.g.) and donate it to the poor people of the world…

(Just got carried away by the outcome of having consumed a couple of beers today – thanks goodness I can still afford them )

PS Anyway, I think Torben had seen it coming: CEOs usually give the kind of friendly and upbeat interviews like the one mentioned elsewhere on this site – exactly before it is coming.

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

waltoninn — Sat, 12 Jan 2008 17:34:57 GMT

I agree with you Beonic Man.

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

The Beonic Man — Sat, 12 Jan 2008 13:54:28 GMT

The problem is, China IS the new Denmark! And the new England, and the new Europe, and the new rest of the world! Money=corruption. Lets not hide behind the facts. Cheap labour to maximise profits at the expense of polluting and not giving a damn about the people of China. Its exploitation whichever way you look at it. It makes me laugh how Europe and recently America go on about global warming and protecting the environment but they have absolutly no problem at all shoving it all off to China and letting them suffer, complety exploiting them to get the cheapest possible trade. Pathetic. Who do we destroy after we're done with China? The greedy West. I'd much rather pay for a product knowing that someone is getting a good salary from it, or that it is making a positive difference in some way or funding research etc. Not just adding to someone's already greedy pay packet.

Simon.

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

GuyHui — Sat, 12 Jan 2008 13:40:43 GMT

By the way, the "crap" (in your term) wasn't made in China but in Eastern Europe...

China makes good product too.

Guy

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

TWG — Sat, 12 Jan 2008 13:21:48 GMT

Hi,

as far as I know Mr. Sorensen WAS CEO and has to look for another job:

http://www.engadget.com/2008/01/11/bang-and-olufsen-ceo-gets-the-boot-for-falling-sales-profits/

So, I hope B&O thinks right and goes back to their roots: HIGH QUALITY made in Denmark and not that "Made in China" crap!

Re: Don't cry too much for Torben he just has to look at his bank book to be happy!

Peter — Sat, 12 Jan 2008 12:53:32 GMT

Only to be expected for a CEO. I am sure his settlement was good and, in my view, he deserves it. I wasn't thinking of having a whip round for him!

Don't cry too much for Torben he just has to look at his bank book to be happy!

expoman — Sat, 12 Jan 2008 12:50:14 GMT

Since August of 2005 he exercised stock options and cash settlements from stock options for over 1,500,000. euros. From the http://www.bang-olufsen.com/page.asp?id=101 insider trading.

President, CEO, Torben Ballegaard Sørensen has requested a cash settlement of options

previously awarded. The cash settlement amounts to 8,562,400 DKK.

Torben Ballegaard Sørensen has previously been awarded 35,000 options, which entit-

led him to purchase 35,000 shares at a share price of 360. The cash settlement has been

carried out based on a share price of 604.64, which corresponds to the average trading

price for Bang & Olufsen a/s’ B-shares, on the Copenhagen Stock Exchange for the pre-

vious 4 trading days.

Name Torben Ballegaard Sørensen

Reason President, CEO, in compliance with article 28a

(2.1.) of the Danish Securities Trading Act

Issuer Bang & Olufsen a/s

ISIN DK0010218429

Designation Shares

Nature of Transaction Purchase (Execution of options)

Trading Date 15th of August 2005

Market Copenhagen Stock Exchange

Number 10.000

Market price (DKK) 2.010.000,00

Name Torben Ballegaard Sørensen

Reason President, CEO, in compliance with article 28a

(2.1.) of the Danish Securities Trading Act

Issuer Bang & Olufsen a/s

ISIN DK0010218429

Designation Shares

Nature of Transaction Sale

Trading Date 15th of August 2005

Market Copenhagen Stock Exchange

Number 10.000

Market price (DKK) 4.731.000,00