BEIS committee blasts management failures for the collapse of the world’s oldest travel company, and urges bonuses to be clawed back * Latest: Reeves roasts Thomas Cook’s failures * Bosses need to show dignity, and return bonuses * Former chair blames government * Reeves: Show some humility! * Inquiry underway - highlights start here * Introduction: Thomas Cook inquiry begins today 2.07pm BST REBECCA LONG BAILEY MP, LABOUR’S SHADOW BUSINESS SECRETARY, HAS ACCUSED THE GOVERNMENT OF DERELICTION OF DUTY, OVER THE COLLAPSE OF THOMAS COOK LAST MONTH. She’s appalled to hear today that no ministers spoke directly with the company in its final days, although tourism ministers from Spain, Greece, Bulgaria and Turkey were all in touch (as explained earlier in this blog). “There has been a clear dereliction of duty by the government. “It is shameful that ministers failed to make contact with Thomas Cook at such a vital time when other international governments were stepping in, and failed to examine the excessive bonus culture when it was very publicly facing difficulties. 1.56pm BST REEVES 1-0 MEYSMAN..... There are bad answers and then there is this: when asked why Thomas Cook collapsed, the Chairman answered: "Good question". The Board doesn't seem to comprehend what has happened. pic.twitter.com/GGbGVAUO2Z Continue reading...
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