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Tom Powdrill

@tompowdrill.bsky.social
811 followers 1.4K following 1.9K posts

Labour and Capital: stewardship, labour rights, unions, pensions, corporate governance, workforce engagement

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Reposted by Tom Powdrill
Jim Kane @kanejim.bsky.social · 02/10/2026
Only UK water utilities require this level of ownership complexity!
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Tom Powdrill @tompowdrill.bsky.social · 02/10/2026
haha this is clever. I think if Burnham just identifies one example every few weeks of a shitty private sector practice that is irritating and costs a few quid (or time) and pledges to scrap it he'll get a lot of fans. and let's be honest he won't struggle to find targets
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Tom Powdrill @tompowdrill.bsky.social · 02/10/2026
It’s like watching a member of a cult repeat some obviously batshit stuff. “Yes, I believe if I put a plastic bag over my head and drink poison I will ascend to the approaching comet in the form of pure energy”
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Tom Powdrill @tompowdrill.bsky.social · 02/10/2026
I don’t know if public ownership means organisations are run better. But the more the operations of a privately owned provider are determined by *public control* the less defensible a financial claim on its operations looks. This to me is how UK rail ended up where it is. Utilities could follow?
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Tom Powdrill @tompowdrill.bsky.social · 02/10/2026
The thing about public/private ownership is, the more you regulate and price/profit control a private provider the worse it looks. The more the state is defining what gets sold at what price and with what profitability/distributions to investors the harder it is to see waft the provider provides.
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Tom Powdrill @tompowdrill.bsky.social · 30/09/2026
yep, it feels like a significant shift is underway. big battle brewing over the modernising corporate reporting consultation.
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Tom Powdrill @tompowdrill.bsky.social · 30/09/2026
The situation is so different to the era in which many of the rights were introduced I just don't see many people getting out of bed to fight to retain/reintroduce them. I deffo wouldn't argue for this in terms of "shareholder rights are good for shareholders" tho.
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Tom Powdrill @tompowdrill.bsky.social · 30/09/2026
Very interesting that Norges Bank has spoken out on this, there is a growing attempt to roll back shareholder rights. Shareholders have had a tailwind of supportive public policy for 30 (?) years. The benefits to society of those rights are now being questioned. www.nbim.no/en/news-and-...
nbim.no
Shareholder rights under pressure | Norges Bank Investment Management
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Tom Powdrill @tompowdrill.bsky.social · 29/09/2026
Getting rid of the earnings link is bad news for younger workers. Those furthest from retirement will take the biggest hit. Talk about inter generational unfairness…
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Tom Powdrill @tompowdrill.bsky.social · 29/09/2026
BREAKING: US identifies “foreign actor” involved in Fairford incident
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Tom Powdrill @tompowdrill.bsky.social · 29/09/2026
Some of the commentary around the Triple Lock is so maddeningly unthinking. You aren’t sticking it to wealthy boomers by ensuring your own future retirement income is lower.
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Tom Powdrill @tompowdrill.bsky.social · 26/09/2026
A favourite holiday snap
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Reposted by Tom Powdrill
Tom Jenkins @tomoljenkins.bsky.social · 26/09/2026
Groundbreaking win by @unifor.org ✊🏼
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Tom Powdrill @tompowdrill.bsky.social · 25/09/2026
Absolutely. Its very dangerous talk. Becoming far too normalised
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Tom Powdrill @tompowdrill.bsky.social · 25/09/2026
IMHO extreme inequality framing (the 99%) feels like an appeal to “fairness” in the abstract / as a principle. The labour share appeals more to (un)fairness that affects *you* (since most of us earn via labour). It’s more rooted in self-interest & self-respect. Personally think that’s more powerful.
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Tom Powdrill @tompowdrill.bsky.social · 25/09/2026
We're right up at the edge here. An MP and deputy leader of a political party playing footsie with the idea it's ok for a street gang to take the law into their own hands
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Tom Powdrill @tompowdrill.bsky.social · 24/09/2026
I keep saying I’m surprised there so little commentary on this in the UK… but I am! BlackRock is the top shareholder in loads of PLCs. It and Vanguard are frequently both in the top three. Their combined positions are regularly 13-15% and that’s only going to increase
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Tom Powdrill @tompowdrill.bsky.social · 24/09/2026
Is the answer “we need to CEOs to be paid more at all the companies we invest in”? Where does that end? Equally taking a portfolio level approach “you (Company A) might think you need to pay more, but I’m looking across the whole sector” feels logins but likely strays into competition issues.
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Tom Powdrill @tompowdrill.bsky.social · 24/09/2026
The exec pay argument gets really weird. Company A says it needs to pay more because Company B does, plus there’s a global market for execs so it also needs to pay like companies X, Y and Z. But if you’re a (the?) top shareholder in A and B and X, Y and Z, what’s in your best interest?
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Tom Powdrill @tompowdrill.bsky.social · 24/09/2026
Huh, missed this last week. Despite the clear political angle on it the underlying issue is real and it applies to the UK too. What happens when the same handful of shareholders control a significant chunk of shares/votes in all the firms in a sector? uk.finance.yahoo.com/news/doj-wei...
uk.finance.yahoo.com
DOJ weighs joining state antitrust suit against BlackRock and State Street -report
Investing.com -- The U.S. Department of Justice is actively weighing whether to intervene in a high-stakes state antitrust lawsuit against asset management giants BlackRock Inc (NYSE:BLK) and State St...
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Tom Powdrill @tompowdrill.bsky.social · 23/09/2026
This is mental and dangerous
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Tom Powdrill @tompowdrill.bsky.social · 23/09/2026
the UK is going mad
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Reposted by Tom Powdrill
Tony Tassell @tonytassell.bsky.social · 23/09/2026
How private equity ended up in limbo?chartastic piece on PE's big problem - a rising pile of unsold companies as exit routes dry up. The big questions: what happens from here and what are the consequences for everyone? by @alexandraheal.bsky.social @claradoodle.bsky.social as.ft.com/r/34f515ca-1...
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Tom Powdrill @tompowdrill.bsky.social · 22/09/2026
Not only should we accept the inequality that exists, not try to do anything by way of tax to address, but we should also give public thanks to the rich. They require wealth, power, status AND respect. I realise that (to me) it comes across as rather demanding and needy.
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Tom Powdrill @tompowdrill.bsky.social · 22/09/2026
One thing that annoys the crap out of me in commentary around wealth and tax is the implication we should be very grateful to the very rich. There’s this regular line about the UK needing to “celebrate” wealth creation, which is always in the context of the role of business leaders, not anyone else.
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Tom Powdrill @tompowdrill.bsky.social · 22/09/2026
Disagree with pretty much all of that tbh. Which bit(s) do you want to scrap & what do you expect it to save?
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Tom Powdrill @tompowdrill.bsky.social · 22/09/2026
I find it particularly nuts, when regularly seeing the shocking level of DC pension provision many UK workers have up close, that people consider this a priority. “Just means test it” - fiddly & from when? Cos there will deffo be a cohort who have assumed a state pension is part of their retirement
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Tom Powdrill @tompowdrill.bsky.social · 22/09/2026
I know a *bit* about pensions and a) I don’t agree with getting rid of it b) think if you are suggesting scrapping it you need to say which part(s) c) worth remembering we have been here several times before - breaking & the re-establishing the earnings link www.theguardian.com/commentisfre...
theguardian.com
Britain needs cash and everyone knows we should break the pensions triple lock. Where is the courage? | Gaby Hinsliff
The issue cannot be avoided any longer. Andy Burnham and his chancellor must face the fear of a pensioner backlash, and find a fair solution, says Guardian columnist Gaby Hinsliff
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Tom Powdrill @tompowdrill.bsky.social · 19/09/2026
Yeah I am pretty sure that is true and might be part of the explanation? Similar picture in Greece where Syriza has shrunk back down. Think they were both more the ‘left populist’ model rather than fairly traditional tankie / trot parties?
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Reposted by Tom Powdrill
Jim Pickard @pickardje.bsky.social · 18/09/2026
my brilliant colleague @robertshrimsley.bsky.social on the threat from Elon Musk’s X platform www.ft.com/content/f270...
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
👀 collapse of the left beyond PSOE. Compare to when Podemos was a serious challenger
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
I mean there is a movie called United 93. It's grim but if anything shows the heroism of the passengers onboard. My personal mental association with the term 'United 93' as a result is one of bravery & defiance. I genuinely don't get the potential for offence here (obviously unintentional anyway)?
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
This seems a bit silly. a) how many people are going to see this and make the connection? b) on what grounds would it be offensive / insensitive? c) at what point in the future would it be ok for that combination of word & number to be on a football shirt? www.bbc.co.uk/news/article...
bbc.co.uk
Oxford United apologises for United 93 shirt advert
Oxford United apologises for the image, which features the call sign of one of the planes used in the 9/11 attacks.
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
There was a big (39%) vote against Ryanair's remuneration policy resolution at the AGM (resolution 3). But how much of it is explained by low turnout (a bit under 18%)? Looking at the raw numbers only about 7% of the ISC was voted against that resolution.
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
Pastor of Muppets 👏👏👏
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Tom Powdrill @tompowdrill.bsky.social · 18/09/2026
Laurence Fox's cranky priest mate going full nutter
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Tom Powdrill @tompowdrill.bsky.social · 16/09/2026
Black Flag
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Tom Powdrill @tompowdrill.bsky.social · 16/09/2026
So that right-wing meme about history: Soft men -> hard times -> hard men -> good times -> soft men etc* It’s an argument in favour of inheritance tax, right? * obviously no women were involved in the history of humankind
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Reposted by Tom Powdrill
Alex @m-ttpa.bsky.social · 15/09/2026
Wrote a short piece on how worried shoud trade unions be/not be about a cap on political donations. Includes some thoughts on the topic in general as well.
forwardmarchoflabour.substack.com
That’s Cap
Should Trade Unions Be Worried About a Cap on Political Donations?
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Tom Powdrill @tompowdrill.bsky.social · 14/09/2026
A small moment of joy in the Post Implementation Review of the company reporting regulations.
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Tom Powdrill @tompowdrill.bsky.social · 14/09/2026
good stuff, as usual ludovicphalippou.substack.com/p/lp-incenti...
ludovicphalippou.substack.com
LP incentive pay: incentive for what?
I was recently asked about the growing use of performance-related compensation for the private equity investment teams of institutional investors.
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Tom Powdrill @tompowdrill.bsky.social · 13/09/2026
Really interesting
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Tom Powdrill @tompowdrill.bsky.social · 13/09/2026
Quoted in the Mail on Sunday 🙃 www.thisismoney.co.uk/money/market...
thisismoney.co.uk
Backlash grows against Labour's 'incoherent' reporting reforms
Labour's plans to water down reporting rules for shareholder-owned firms have been condemned as 'incoherent' and showing 'a lack of joined-up thinking', it was claimed last night.
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Reposted by Tom Powdrill
LabourStart @labourstart.bsky.social · 12/09/2026
2,190 trade unionists from around the world have already supported this campaign - please join us! bit.ly/freeleenow
bit.ly
Hong Kong: Free Lee Cheuk-yan now!
Please support this LabourStart urgent action campaign and spread the word.
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Tom Powdrill @tompowdrill.bsky.social · 12/09/2026
What a joke. I’m prepared to accept there aren’t easy options here, but there are certainly *bad* ones www.ft.com/content/527d...
ft.com
Thames Water hit by £2bn bill for finance costs and advisers’ fees
Embattled UK utility faces mounting costs as government debates moving ahead with temporary nationalisation
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Tom Powdrill @tompowdrill.bsky.social · 11/09/2026
Given that Bin Laden was thinking about Vietnam the obliquely positive outcome is sort of reminiscent of the Tet Offensive. That clearly failed when judged against its original objective (to spark a South Vietnamese uprising) but contributed to the long term aim by undermining US support for the war
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Tom Powdrill @tompowdrill.bsky.social · 08/09/2026
Hard agree www.ft.com/content/2279...
ft.com
Labour’s muddled migration policy won’t stop thuggery
A government that can’t distinguish between ‘legitimate concerns’ and open racism is only making things worse
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Tom Powdrill @tompowdrill.bsky.social · 08/09/2026
👀 www.ft.com/content/7c53...
ft.com
EU opens door to bigger corporate mergers
Top competition official says deals that help companies scale up and innovate will get a closer hearing as EU seeks to keep pace with US and China
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Tom Powdrill @tompowdrill.bsky.social · 07/09/2026
Equally I think a lot of people’s understanding of ‘social democracy’ is coloured by the positions adopted by people who have called themselves social democrats in the last 20-30 years. It used to be unremarkable for social democrats to acknowledge class conflict for example. Can’t imagine that now
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Tom Powdrill @tompowdrill.bsky.social · 07/09/2026
Not something I expected - the Labour Government is proposing to scrap the requirement for an annual shareholder vote on remuneration reports (which was brought in by the previous Labour government) tompowdrill.substack.com/p/accountabi...
tompowdrill.substack.com
Accountability versus Allocation in action
Government proposes to substantially reduce reporting, including on governance, and to scrap annual votes on remuneration reports
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