Episode 59 Show Me the Money

More from me at 10pm. Now, time for This is Show Me The Money, your

weekly guide to who is making the cash, how and what it means for the

way we work. With us tonight, when your chips are down, so is your

computer. Intel puts the chips into four out of five computers. Graham

Palmer. Rachel Bridge says she can mean a million before lunch. And

Antrim used to drive packs of bacon from here to Switzerland just to

keep his clients happy. It is safe to say there is a strong streak of

customer service in the air. Fines Cable, the Business Secretary will

unveil plans on Tuesday to curb bonuses. When shareholders accept

or reject top people's pay, the company will have to accept that

verdict. It is just advice which they can ignore at the moment.

Graham, is that anyone else's business what you are paid? I don't

think we think so. It is my business. It is between you, your

wife, the taxman... He has, that small group. So what about the

public clamour for cheap executives to have a single figure disclosing

everything they get? We need to keep things in perspective. If we

want top talent striving top businesses, then we have to pay

these guys the top salaries to make sure they are driving the right

leadership. Businesses have been saying that for decades. The public

is not buying it any more. They need to understand that in this

very tough environment, leading a top corporation is tough. To get

the top talent, you need to reward it. With talent like the Banks, we

don't need it. It is a tough environment. We need to give these

guys credit for leading these very large organisations through a very

turbulent mark at. If you pay was public and people could look it up

on a company website, would it change the amount of money you

took? I don't think so. I think we have a very transparent process for

each employee. We have a stock participation programme, so every

employee is a shareholder, and we give bonuses for every employee. It

is quite a transparent process. did very well not saying to me, it

is none of your business. Why are we talking about bosses pay at this

point in time? I think people are particularly upset because at the

moment everybody is tightening their belts, everybody is really

having a hard time, people are losing their jobs and are then you

read about these people getting enormous sums of money, and it

seems extraordinary they are getting this money, and, in

particular, the gap is increasing between the amount they are getting

to what an ordinary worker is getting. In old-fashioned terms,

isn't that envy? And no. I think it is more than that. The gap is so

wide and the differences are Bich, that it really is time to look at

it properly. And true, why are people obsessed by bosses pay?

think at the moment because we own the 80% of banks like RBS, we have

a vested interest in knowing what the top people are being paid. That

is companies which meet own because we had to. -- red is companies week

only because we had to. In general terms, Vince Cable is going to roll

up his plans because a lot of work has been done by the Commission on

this, greater authority for the shareholders etc. That is not just

the banks but everyone. I come from a private company background and

therefore how we operate and pay people is possibly very different

to the public sector. If the government were to take this a step

further and say we will look at the pay of bosses in private companies

as well. That would not worry me in the slightest. I am not earning

millions of pounds. It's a private company, it always shows how much

the highest paid director gets. you have a big gap in a business of

your size? Can you have a big gap in what you are paid and what

everybody else is paid? We do not have a lot gap. Why not? Because

the travel industry is inherently badly paid. And I think it would be

very wrong for there to be a massive difference. We all worked

together a. The management team at nacelles consultants. So rather

than high paid bosses, this would be high paid the motivating

everybody else? I think so. Time for boom or bust. A quick flick

through the news you heard hoped you had missed. Do not try this at

home. This is Dr Megavolt. His mother calls him Richard. He put

electronic it through its paces. That is one million volts of

electricity. Somewhat amazingly, the hard drive survived, as did he.

It has never been more popular with criminals, of the number of fakie

red banknotes is up 5%. However, that does still leave a lot of

genuine bank notes. A-level student rejected by

university. What about the university being rejected by a

student? Now that his man Bites Dog. Elly Nowell well has sent Oxford a

letter marking its standards and rituals. She says it did not meet

the standard of other universities and she is hoping to get in to

study law, although probably somewhere else.

The man with the faults, testing the product, how do you test a

product in your industry? How do you know it is going to click with

customers? First to fall, our business is where we take people to

the world. We operate in 85 countries through the world and we

have got to find the right accommodation for our guests, and

find the right rooms for them to stay. Does this mean you are

bouncing up and down on beds? We searching every single one of them,

yes. But then there is another side of the business where we have our

chalets and villas, operated by ourselves, and the product and

there is to do with the team of people, the chefs, the nannies, the

people driving you to and from the slopes. At going back to the old

days, what we used to do when we were testing chefs, they would come

around to my house and they would have to cook dinner before they

would go back to the Alps. These days, there is a training presence

that we go through. We have a ready, steady, Cook prices. At the end of

the day, they hope they will get through, but not all of them do.

Why can't we get jobs where top- class chefs turn up at our homes?

I'm was thinking how unfair that is. That is brilliant! You now write

books, how do you test your product? Good question. Halfway

through the book, there is my e- mail address and I invite people to

tell me what they think of it. Do You Ready listen if they say it is

rubbish, even though you have crafted, sweated over it? Nobody

has said it is rubbish it, which is good. How does Intel test its

products? Hugely intensively. With a billion parts inside it, that

takes a lot of testing. It is a huge amount of testing. Doesn't

always work. You had that chip back in the mid-90s, the Pentium that

couldn't do complicated maths. Our was very occasionally, things

don't go planned. -- that was very occasionally. The key thing is how

you respond to that and we learnt that we have to respond decisively,

quickly, replace the products and customers understand the trust they

have is fulfilled. When you talk about fake Euros, of the thing that

goes through your mind is how technology and electronic

communication is used to spread far bakery and scams. Actually, all of

our lives are going on online, and I was looking on Twitter and I saw

a bunch of tweets coming from Katie Price about quantative easing. I

thought, it can't be heard, but it was. But not in the same context we

would talk about it. We need to get sensitive about some of these fakes.

It has taken me this long to get around the first explanation of

quantitative easing. We need to book Katie Price if she is going to

talk about it. She was actually advertising a chocolate bar. So, it

was spin. Consumers need to be on their guard against affects all the

time. There has right. It is up to the company is to build up our

trust in them. We pay the money when it is good, they need to be

there for us when things don't go foul wave. The A-level student,

recruitment is about getting both sides to agree. That is right. I

have to say she has shot herself in the foot. It is good to be feisty,

it is fantastic and companies look for employees with an edge, a

different angle, but this wasn't the wisest thing to do. I don't

think she really knew what she was talking about. And drip, you talk

about the chefs and how important they are, and how important it is

to get the right person. How do you do it? Well, we have a very strong

recruitment process. And we look as much as skill sets as to the

character and charisma of the person, how charming they are, how

they will get along with guests, because our business is about three

words. A bit like Tony Blair. Education, education, education.

Ours is servers, servers, servers. His our service as good as Asia?

course. They do it brilliantly, but if you look at what we do and the

number of staff to guests, we have a two-to-one ratio, mirroring the

best they have been a show. your business in the UK is about

sales? Have you ever had any one saying you are not good enough? Not

so far, but it is an interesting thought. We are bringing in a lot

of interns into the business and we would like to introduce these

people into Intel and for them to try us and for us to try them.

big news in technology was that Kodak is losing its business. It

has filed for bankruptcy so it can restructure its finances. There is

a business there was at the top of its game and did even had the

technology on its own shelf that in the end was its undoing. Does that

make you think that could happen to any of us? One of the founders of

Intel coined the phrase, only the paranoid survive. Everything we do

in Intel, we are always concerned about what his next, which is why

we make sure we are at the front of tablets, smartphones, and a real

buzz being given by the consumer electronics show. Fundamentally,

continuous innovation is the watchword. Innovation costs money.

How do you know that money is getting the results you expect from

it and it is not disappearing down a hole? For Intel's prospective, we

need to spend billions of dollars to make factories to make products,

so it takes some bold leadership to put those bets on the table.

Fortunately, we have done a great job so far in delivering great

technology to the market, and as I look forward, again some fantastic

technology heading towards consumers. What drives innovation?

Is it you talking to customers and working out what they want

computers to do? Is that the boffins in the lab saying, we have

got this great thing, now we need to find a way to use it. It used to

be the latter, but in the last 10 years, we have really had the

former. Ethnographers it with real people all around the world and

they look at how people use technology, on the bus, at work, at

home. The number of remote controls they have. All those things build

up a picture of what technology can do for consumers and businesses, so

it is very much about listening to customers and consumers to

understand what technology can do for them. But you don't make the

computers? There are a couple of links there. With work closely with

the computer manufacturers, so it is a partnership. We build the

brains inside, but it needs to work in conjunction with the money

packed wrestle with this new generation of Ultra books, they are

super thin, and that can only happen if we work with the

manufacturers. We provide all of the insides and worked together

with the many factors closely to make sure the products are good.

is their collaboration? At salute leave. With a new limited number of

computer manufacturers? We share it at a global level. We have 100,000

employees working with all of our customers because the diversity

coming into the consumer electronics business environment is

immense and you need to work with many varying partners to make sure

you are looking at different parts I heard a teacher at say once that

they are teaching for jobs that don't yet exist today. Had we make

sure that students have the right tools? It is interesting, and it is

a point that we take to heart, because we are a business built on

science and technology. We work with governments around the world

to create content in the classroom to allow kids all over the planet

to be technology literate. Having those Foundation all elements are

so important. Time moves on very quickly. Your typical laptop has

the same amount of power as NASA did when they launched the space

shuttle. How does business deal to you at the moment? Are we stalling?

Of the swing -- shrinking? In our business, we have just had the best

two weeks in the history of Scott Dan. -- Scott Dunn. How do you do

that when time and money is so tight? Holidays are a necessary --

necessity these days, and it is the third thing that people think about

after mortgage and education. January is an import -- or four

months, so you need something to look forward to. People want to get

away and enjoy themselves. Even in these austere times, it is

something worth saying over again, there are opportunities for growth

if you can find them. That is right, and history shows that more

businesses shut -- set-up in a recession, because there are more

opportunities to do things more efficiently or more simply. It is a

great thing -- great time for businesses to find a niche that

works for them. More people are starting businesses. Is that

because it is a better option than claiming unemployment benefit?

people are in fear of their jobs. Actually, this is the moment,

people are thinking they should go for it and take the plunge, because

if there are not any jobs going around, it makes sense to do that.

As long as they do it on a small scale and try it out, then it is

fine. How do you make a million before lunch? You have really got

to do it. You cannot be half- hearted about it. No. 2, you have

to find something for the Brits there is a demand. You have to

think, who is going to bite my product? You have to build up a lot

of sleep and social life. -- give up a lot of sleep and social life.

Who is actually going to buy it? How does that chime with your

thinking? I think you definitely have to be passionate about what

you're doing. We have to love what you are doing. When I set up Scott

Dunn, it was incredibly difficult, but I had an Enterprise Allowance

Scheme but paid �40 per week from the government, and a had a small

loan from the bank, and that got me going, but, I am in a to agreement.

We have to work incredibly hard an incredibly long hours. Many people

set up and work from home in a shed. When I was out in the Alps for a

couple of years, I had my mother set up in a bedroom as the back-

office! You are able to give that little bit extra for your customers

by rustling bacon across the Continent! Yes, because one of the

things you have to do is differentiate yourself, and 25

years ago, it was abysmal, but one thing we were doing is have a

proper foe English breakfast, and so in the Alps, there was not

proper bacon. So I bought an old Land Rover, put a roof rack on the

top, and absolutely filled it with bacon! And roof-rack completely

covered with bacon? Luckily, I got three customers, and doubles are

not quite sure what I was going to say!, did you have them on the

roof? At times like this, used -- cute retired and still -- stop

working. Many people are carrying We have been told that we are

living longer, but when it comes to working in your 60s and 70s, many

firms may not want to take you want. So what do you do? Believe it or

not, this Park in east London is run by a venture -- is a venture

run by Terry Lyle Chris 72. I do anything's in the park and in the

park office. I am here for nor married working day. -- Terry Lyle

For the last four months, he has been working with eight social

enterprise, the amazing. They have been working in Tower Hamlets. If

you weren't doing this, what would you be doing? I am not idle. It is

hard for me to answer the question, because I have been doing this four

times inside retired! The Brit imagination has to roll-back, and

it is hard to do something else. But I have learnt that Terry is not

alone setting up a business later in life. We have 17 people on the

books already. They are all quite buried in the skills they offer.

Michael, the hairdresser, Andrew, St photography. We have Bernard

Tate -- Bernadette. We were creating a service for older people.

What we realised quite quickly is that we were meeting incredibly

talented and passionate people with lots of skills he were able to

share them, so they could be the provider as well as the consumer.

An expert I spoke to said Britain will be surprised by old people

working for themselves. They may not have any choice in the matter.

If you are looking for a job, and you'd do not get one after six

months, and we certainly hear people who have done that, if you

are sensible, you look for other things. You can do something. It

lends itself to self employment. you work past 65, what should you

be aware of? If you are eligible for the state pension, you can draw

it. If you don't draw it, you can increase it this value by 10 %

every year. Terry is proof that with plenty of enthusiasm, anything

is possible. Good job they did not pull the other way! Next week, it