April 25th, 2014

Pink ‘Un Silent on Their Own Shareholder Revolt
More Shareholders Reject Remuneration Than Barclays

This morning FT went big on yesterday’s Barclays AGM, splashing the fact that 21% shareholders voted against their remuneration packages. Today Pearson had their annual gathering and the votes are in:

Resolution 13 – to approve annual remuneration report

For: 349,696,505 (64%)

Against: 181,521,643 (33%)

Withheld: 15,000,416 (3%)

For comparison, Barclays result were 66% For; Against 21%; Withheld 13%. Legally withheld votes don’t count – so if you go for the straight yes:no Barclays was 76:24 in favour; Pearson is 66:34 in favour. Guido can’t seem to find this reported anywhere on the FT website? Perhaps they are holding it for the front page of the Weekend edition…

UPDATE: The FT’s Media correspondent is catching up as usual…


  1. 1
    unpronouncable says:

    no comment says:
    how is Siobhán pronounced?
    .she wun


    • 7
      unpronouncable says:

      i spy with my little “i” something beginning with “u” u spy with your little “u” something beginning with “he”@

      is he having a ?

      i spies u spies he spies “who protects the protector
      l,il poppadun from the poppadum shop
      usefully tasty. fulls marks to marks for thinking up spence.


    • 8
      linguist in residence says:



    • 22
      It's the Irish form of 'Joan' says:

      It’s pronounced “shove-awn”, and there’s no pause in the middle.


    • 27
      DynoRod Dave, Shitshifter to the Clergy says:

      It is pronounced “Siobhán”, you ignorant owld bollocks.


  2. 2
    Peter Martin says:

    It’s almost like certain media report what suits, but don’t report what they think people really need not be bothered with.

    It’s like propaganda, with censorship. Those were the days.


  3. 3
    Lord Stansted says:

    Don’t care – I read City AM these days.


  4. 4
    Ockham's Razor says:

    Who reads the fucking rag?


  5. 6
    C O (Ξ7q1) says:

    Good to keep them on their toes, especially on a Friday afternoon… :-D


    • 9
      Ockham's Razor says:

      Hang them by their toes!


      • 15
        C O (Ξ7q1) says:

        Harsh, but fair.

        On that other matter of the global warming bollocks, been looking through the ICOADS Sea Surface Temperature Data today.

        Generally clean, but after building some mpegs showing how the data points move around – that is the ship locations where temperature was recorded, a lot of fascinating observations emerge.

        Historical events (am only looking at 1931 onwards) such as WWII, Ch!nese Cultural Revolution, Suez, and the Oil Shocks are very obvious. (Am coming up to the 90s now – will be interesting to see if the Gulf wars stand out…)

        Of more relevance to the question of warming – it would appear that a lot of data points from the Great Lakes region feature: The opening of the Great Lakes Seaway stands out quite prominently.

        Why important ? Temperature dynamics of those lakes are totally different to the oceans.

        Also of relevance: From the ICOADS data, until the 80s when fixed buoys recording temperature started to be put around more liberally, especially in the Pacific, the temperatures which can be determined from this data are those of the waters around the main merchant shipping routes.

        One suspects that these should be expected to be slightly warmer than the real average as they not only stay relatively close to land, but also predominately traverse warmer waters, and indeed seem to follow the bigger ocean currents and trade winds.

        Will be posting some uTube vids up after processing data further – hopefully next couple of days.

        Still not buying that anthropomorphic global warming exists: Looking at the data is only strengthening belief that it is a myth.

        Hmm… :-)


        • 17
          Ockham's Razor says:

          Have been rather tied up of late but saw what you were doing, albeit with half an eye.

          If I have it right, you are making a case that temperature records at sea have been taken by shipping, where it happens to be, over many decades but the collection of this data into a set did not take account that the types of journey had changed.

          At the beginning of the last century, Britain still had the largest fleet in the world. Thus most of the routes would have been between the Commonwealth and the UK. So as well as warm waters, they would contain much data from the cooler North Atlantic.

          That situation has changed completely and so, for example, the increase in shipping in the South China Seas will form a larger part of the data set meaning that, without some correction, this will make it appear that overall temperatures have risen when in fact the sample base has merely changed.

          You have set out some of the later rationale above in mentioning permanent weather buoys but have I got the rest of the thinking correct here?


          • C O (Ξ7q1) says:

            The Univ East Anglia / General argument for AGM is relying on average temperatures determined from observations apparently showing an upward trend.

            One of the Wikileak mails showed that UEA researchers were keen on emphasizing that the difference between sea and land temperatures was getting wider: In part that is accounted for 2008 onwards as Satellite data was included which biased the sea averages down.

            Given that 71% of the planet is water, in order to figure out if things have been warming up, it is best to look at the the sea temperature measurements.

            Sea surface temperature records exist publicly and daily going back to the mid 17th century – albeit somewhat sparse back then. Ships collect a lot more information that just SST.

            The ICOAD data is well worth looking at – but is very voluminous: 1931 through to 2013 am estimating is about 40-50 Gb download – nearly got it all now.

            (Recommend anyone to look at it: The data is in a fixed width format known as IMMA : You will need either Fortran, Perl or Python to break it apart, best done on Linux. The data spec is on the NOAA site.)

            You are correct about the South Ch!na Sea – but the density of data points has been high there going back to 1931, only really dipping towards the end of WWII.

            Another body of water which features heavily is the Gulf of Mex!co, and of course the Med / S’uez Canal + Red Sea / Gulf of Aden, and the P’anama Canal.

            Data points are sparse in the Antarctic / Arctic regions, and in areas of the Ocean away from the main shipping routes.

            ie. The density of data points are not well distributed across the oceans, and there are sections for which no measurements have been recorded at all – sections being a good few degrees square.

            (This has sort of changed with satellite measurements…)

            Advances in technology have certainly changed the picture, but the core problems pre the late 70s / early 80s remain.

            I am particularly interested in checking out how the temperature patterns vary, and how the geographical data collection area vary.

            I do not completely buy what the climate ‘scientists’ have been doing with this data: They model by constructing a grid on the surface and then use this data to determine average temperatures for each of those grid cells. There is a lot of interpolation and numerical voodoo going on, which considering this is a non-linear system is somewhat hazardous in terms of being correct.

            From what I am seeing, the error margin on most of the grid cells will be huge due to lack of actual data points, whilst those cells which are on the main shipping routes will be quite accurate.

            If fresh water lake data points have been included – they will bias the non-tropical Northern Hemisphere figures, and as ships prefer warmer shallower waters, there is an obvious further bias in this data.

            The data itself is broadly correct and clean, but using it for the purpose of determining an average overall sea temperature in order to make the case that the globe is warming up due to the actions of man I suspect is invalid.

            Due to apparent geographical sparseness, the data’s value for building climate models is perhaps also questionable.

            However, as a set of data to construct part of the picture,
            to see history from a different and more precisely recorded perspective, and as a technical challenge.


          • Jim says:

            co7 – 71% of the planet is not water. It’s 71% of the SURFACE of the planet.
            If 71% of the planet was water, I don’t think it would spin inspace as effectively as it does


  6. 10
    Coppers for the poor! says:

    Ha Ha Ha!


  7. 11
    Idon'tneednodoctor says:

    Oh the TIMES they are a changin’.


  8. 13
    Terry Graph says:

    In that case the Telegraph shareholders will vote for a pay cut. The paper is c**p these days. To be renamed the Tabloigraph Lite soon.


  9. 16
    Dan Hodges Cat says:

    Never having been employed at a place that offered bonuses how does it work?
    You go in do your job and then what?
    Not smash the place up or something?


  10. 24
    Glyn H says:

    Was not the FT balls out for the Euro? And it’s supposed to be supportive of ‘business’? But then this administration put an ex Glasgow Labour councilor in the cabinet as SoS for … Business! It’s as easy as Arsehole, Barber and Cable.

    Wrong about the Euro, wrong about AGW, unneeded in the Internet world!


  11. 25
    Anonymous says:

    “Legally withheld votes don’t count”
    So how about those in prevented plebiscites? Like regional EU pseudo referendums (if more exit candidates are elected than stay-in ones)? And by extension, the self-determination prospects of citizens now under an EU puppet government in Ukraine.


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