Amidst the many tales of woe regarding Ireland’s treatment of children that were reported this week was an account of one who has done rather nicely.
This was the Chief Executive of Cement Roadstone Holdings, Albert Manifold, whose pay, it was disclosed, reached €10 million last year.

Just what do you have to do to earn such an astronomical amount? Well CRH is among the big companies globally. It is now rated at number 24 on the scale of giant companies having moved up from number 42 in the last year. Much of this dramatic increase has been due to Manifold’s leadership.

Two European building material companies wished to merge but in order to meet the anti-competition laws they had to divest themselves of some of their plumb assets. The competition for them was intense and a team from CRH camped in a Paris Hotel for the duration of the negotiations. In fact, at its conclusion, Manifold is reputed to have been awake for 96 hours to get the deal of €6.5 billion over the line.

CRH have grown largely be acquisition as it went from a humble sand and gravel quarry in 1948 into the major supplier of cement in Ireland.
The US market opened up in 1978 and later in 1995 CRH went unto Eastern Europe. In 2006 they set up in China and in 2008 in India. The recently concluded deal in Paris gives access to the rest of Europe.

Their progress has not been entirely without difficulties. There has been accusation of price-fixing with would be competitors. In Eastern Europe the company had to face the allegation of bribery and in the US the well known anti-trust laws have been applied. The company went through a difficult time when in 1969 they sold some land to the former Taoiseach, C J Haughey whose accountant ran a clandestine bank when he was chairman of CRH.

When you are head of accompany employing 87,000 people you can expect a fair salary. It is the bonus culture (in this case Manifold was awarded 590% of salary) which makes it grotesque. The Scriptures say “Take care and be on your guard against all covetousness, for one’s life does nor consist in the abundance of his possessions” (St Luke chapter 12 verse 15 & 22 -34).
Jesus follows this up with an appeal to not be anxious and drawing lessons from nature gives the assurance that God will look after the things we consider important. The proviso is that we put first the things He thinks important, namely His Kingdom where King Jesus reigns (1 Corinthians Chapter 15 24-26).