ALL YOU public sector types struggling to make ends meet on nugatory 1.5 per cent pay rises will be pleased to hear that not everyone is finding things as tough as you suckers must be. The recently published annual report of fashion retail giants Burton revealed that chief executive John Hoerner got a 60 per cent salary hike in the year to August, taking KEEP AN EYE OUT: for the biggest prize this side of the Rio Grander SOCIALIST PAPERS aren't known for bringing their readers amongst the super rich. But our fantastic monthly 300 Club draw offers you the chance to win a cash lump sum or an impressive gift!
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him £300 million. That is more than the combined family fortunes of the Fortes (or Trust House Forte fame) and the Weinstocks (father and son on the main board of GEC), and three times as much as Charles Saatchi. I must be in the wrong yanne. Mind you, this man is reportedly the Mussolini of the whacky world of three-piece suites. One of his lieutenants commented: 'Genuinely ambitious people are rare. Some end up as. dictators, some go into business. He is the most comJANUARY'S draw gives Gordon from Aberdeen £50, while Ed from Cardiff goes home happy with the Sheffield Socialist Choir cassette. Why not join them?
Please pay Socialist Outlook Supporters Fund (A/c 701862897) at the Co-op Bank, 78/80 Cornhill, EC3 (in (in figures) on the day of _(month) 1994 and thereafter every month Trust Company, ran into financial difficulty in 1990, Timothy Barnes QC, prosecuting for SFO, told the Old Bailey. Smith then illegally used and re-used certificates of deposit to obtain loans from a number of different banks.
Much of the dosh was routed to two Smith-controlled shell companies in Canada, which claimed to have substantial interests in oil, gas and land with development potential, and a wide-ranging share portfolio.
In fact, they had no assets whatsoever and did not even employ any staff.
Nevertheless, Wallace Smith Trust Company charged substantial fees to these companies for 'investment advice', said Barnes. The Bank of England was completely taken in.
Smith denies two charges of obtaining $37 million by deception, three charges of theft of certificates of deposit worth £4 million, two charges of false accounting and one charge of fraudulent trading with intent to defraud creditors.
Fingers makes no presumption as to the outcome of the trial, naturally. That only the jury can decide. But should Smith be found guilty, he can presumably expect even more community service than Levitt. fuelled and encouraged the offensive against jobs, wages, conditions and union rights.
New realism is the latest form taken by the politics of reformism, seeking no more than improved conditions within the framework of capitalist rule.
Socialist Outlook rejects reformism, not because we are against fighting for reforms, but because we know that the needs of the working class - for full employment, decent living standards, a clean environment, peace and democracy - can never be achieved under capitalism.
Nor, as we argued long before the collapse of Stalinism, could these demands ever be achieved under the bureaucratically deformed workers states and degenerated USSR, whose regimes survived only by repressing their own working class.
We are a marxist current, based not on the brutish totalitarian parodies of state marxism, nor on the tame, toothless version of 'marxism' beloved by armchair academics, but the revolutionary tradition of Marx, D Please tell me more about Socialist Outlook Name Address Phone Age Send to Socialist Outlook, PO Box 1109, London H4 2UU ever good, will not bring socialism. The fight for policies which bour Party and every campaign and struggle in which workers on key issues such as fighting racism and fascism - in which various left currents can work together for common objectives. while remaining free to debate their differences. If you agree with what you see in Socialist Outlook, and want to join with us in the struggle for socialism, readers groups meet in towns across the country. Contact us now, get organised, and get active! • Yes, I want to become a Socialist Outlook supporter
SOCIALIST OUTLOOK No. 55, January 15 1994, Page 15