Say Sorry? What is this, high school? Venture capital wins some and loses some - and we don't ask venture capitalists to say sorry when an investment doesn't pay off. Solyndra is just an example of why the government has no business in venture capital. Whether democrat or republican, politicians are too slow and often too venal to be trusted with these kinds of decisions.
The comparative measure should not be against the average wage (unless the goal is to make all companies mediocre) but against the average wage in that company or - better yet - the lowest wage in the company.
"a controversial proposal to allow firms to sack poorly performing staff without an explanation."
How controversial! "We are letting you go because you are really bad at this job." is not enough of an explanation?
PS: keeping 20 people on for 90 days after a firm has run out of work for them to do just depresses the work ethic of everyone in the company. And 90 days is such a long time for gardening leave, it depresses the morale of those still in work for the same pay.
You've heard of "Disgusted, Tunbridge Wells"? Well, I live in Holland Park and I've Had It. Up to here! An old curmudgeon, I rant and rave about things I read, see or hear in the News. Frequently sarcastic, irreverent and libertarian; often wrong - but never uncertain.