Although I have no problem with people earning a good living, this does go a little against the grain!
Sex God
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RBS chief Stephen Hester's £963,000 bonus criticised
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It doesn't make me too proud to bank with them. It's a sign of the excesses of the industry for me. The guy earns £1.2 mn already which I think is pretty shocking in a bank that got bailed out not long ago. A press statement I heard said that he deserved the bonus - really? From doing what?
No wonder these guys are happy to gamble large amounts when you think of the kind of figures landing in their accounts every month.
No wonder these guys are happy to gamble large amounts when you think of the kind of figures landing in their accounts every month.
So the guy was bought in to shake the business up and move it from a loss situation to a profit situation. In the last trading quarter profit was reported at £2billion. I think that this is a success and quite rightly he should be rewarded in line with his contract.
BTW he is getting 963K worth of shares, not cash. Big difference!
BTW he is getting 963K worth of shares, not cash. Big difference!
Quote by Rogue_trader
So the guy was bought in to shake the business up and move it from a loss situation to a profit situation. In the last trading quarter profit was reported at £2billion. I think that this is a success and quite rightly he should be rewarded in line with his contract.
BTW he is getting 963K worth of shares, not cash. Big difference!
If a profit has been made, then I am all in favour of bonuses. It is when they make losses that it looks bad
As for shares or cash.........I wouldn't think he would be upset
Dave_Notts
Sex God
His contract would have been negotiated under the last labour Government.
He is getting shares, not cash.
He is being rewarded for results.
Perhaps the best thing to do would be to employ the no hopers that can't get a job in Private Banking and continue along with a State owned Bank being Directed by one hopeless MD after another.
Good and successful leadership of that Bank will result in the shares being subsequently sold by the Government for a profit on what the tax payers bought them for. We all want that surely?
He is getting shares, not cash.
He is being rewarded for results.
Perhaps the best thing to do would be to employ the no hopers that can't get a job in Private Banking and continue along with a State owned Bank being Directed by one hopeless MD after another.
Good and successful leadership of that Bank will result in the shares being subsequently sold by the Government for a profit on what the tax payers bought them for. We all want that surely?
Sex God
Quote by Too Hot
His contract would have been negotiated under the last labour Government.
He is getting shares, not cash.
He is being rewarded for results.
Perhaps the best thing to do would be to employ the no hopers that can't get a job in Private Banking and continue along with a State owned Bank being Directed by one hopeless MD after another.
Good and successful leadership of that Bank will result in the shares being subsequently sold by the Government for a profit on what the tax payers bought them for. We all want that surely?
Quote by Dave__Notts
If a profit has been made, then I am all in favour of bonuses. It is when they make losses that it looks bad
As for shares or cash.........I wouldn't think he would be upset
Dave_Notts
I have to agree this does make good sense to me
This morning, I watched Simon Hughes (LimDem Chairman) criticise this bonus vehemently (the only thing he didn't do was spit on the studio floor) by saying that during a period of austerity, it was immoral.
Well Simon, I have another piece of immoral anti-austerity action which he can actually do something about. He can make sure that MPs in the Palace of Westminster pay the going rate for their alcohol and their meals like everyone else does.
After all, we are in this together is the clarion cry...
On Friday evening I watched David Buik being interviewed about the Mr Hester's bonus. Now David is nobody's fool and whilst you might expect him to defend city bonus' payments he gave a number of very lucid reasons why Mr Heston is so worthy of his financial reward package (negotiated by the last labour administration - what short memories they have!).
And then the top pay unit asking a very small sample whether top bosses should be allowed to earn more than £1m per year.
No wonder Britain is in a mess.
Well Simon, I have another piece of immoral anti-austerity action which he can actually do something about. He can make sure that MPs in the Palace of Westminster pay the going rate for their alcohol and their meals like everyone else does.
After all, we are in this together is the clarion cry...
On Friday evening I watched David Buik being interviewed about the Mr Hester's bonus. Now David is nobody's fool and whilst you might expect him to defend city bonus' payments he gave a number of very lucid reasons why Mr Heston is so worthy of his financial reward package (negotiated by the last labour administration - what short memories they have!).
And then the top pay unit asking a very small sample whether top bosses should be allowed to earn more than £1m per year.
No wonder Britain is in a mess.
Sex God
He is a symptom not the disease...He is smoke and mirrors ... prestidigitation is an old art ... watch their hands not the distractions
To me a bonus is awarded when pre-agreed targets are met or exceeded.
If this man has met or exceeeded the targets set for him then he should receive the bonus.
But in the current hoo-har which led to him eventually saying he would not take the bonus, would it not have been better for him to say, "OK I'll take the bonus (shares) then transfer them into the name of a charity" that way he is rewarded for the work done, then proves he is a hero by giving the money away, which will in turn pave the way for the knighthood which Mr Cameron will have undoughtedly promised in return for giving up the bonus.
John
If this man has met or exceeeded the targets set for him then he should receive the bonus.
But in the current hoo-har which led to him eventually saying he would not take the bonus, would it not have been better for him to say, "OK I'll take the bonus (shares) then transfer them into the name of a charity" that way he is rewarded for the work done, then proves he is a hero by giving the money away, which will in turn pave the way for the knighthood which Mr Cameron will have undoughtedly promised in return for giving up the bonus.
John
Sex God
Quote by Staggerlee_BB
He is a symptom not the disease...He is smoke and mirrors ... prestidigitation is an old art ... watch their hands not the distractions
Are you suggesting the press used this; http://www.swingingheaven.co.uk/swingers-forum/viewtopic/404421.html In an attempt to cover their bad news?
Like burying unfavorable news, doing a Jo Moore?
Quote by Geordiecpl2001
To me a bonus is awarded when pre-agreed targets are met or exceeded.
If this man has met or exceeeded the targets set for him then he should receive the bonus.
But in the current hoo-har which led to him eventually saying he would not take the bonus, would it not have been better for him to say, "OK I'll take the bonus (shares) then transfer them into the name of a charity" that way he is rewarded for the work done, then proves he is a hero by giving the money away, which will in turn pave the way for the knighthood which Mr Cameron will have undoughtedly promised in return for giving up the bonus.
John
Nah John, that was only if he donated them to Conservative Party funds....
Sex God
Quote by GnV
He is a symptom not the disease...He is smoke and mirrors ... prestidigitation is an old art ... watch their hands not the distractions
Sorry staggs, old chap. Your point is missed on me
My point G is that he is a god send to the government.... everyone can round on him and damn him from one end of Westminster to the other,and in the background continue to twist the knife they've planted in all of our backs .... one wonders how much the major shareholder tried to pay him
Quote by Bluefish2009
Are you suggesting the press used this; http://www.swingingheaven.co.uk/swingers-forum/viewtopic/404421.html In an attempt to cover their bad news?
Like burying unfavorable news, doing a Jo Moore?
So yes Blue I am suggesting that this and other stories are being conveniently hidden behind this one
Sex God
Quote by Staggerlee_BB
So yes Blue I am suggesting that this and other stories are being conveniently hidden behind this one
Maybe it is not a bad thing, maybe they might get a fair trial, rather than one by a media circus
Sex God
Quote by Bluefish2009
So yes Blue I am suggesting that this and other stories are being conveniently hidden behind this one
Maybe it is not a bad thing, maybe they might get a fair trial, rather than one by a media circus
What media circus ??? The Sun certainly aren't going to go to town ,neither is The Times ... the other papers will I suspect keep their heads firmly lodged below the parapet in order to avoid any mud being slung in their direction ... so we're left with the Guardian and Ms Wades admission,not much of a circus if you ask me ... nice to see some clowns on display though
Sex God
Quote by Staggerlee_BB
So yes Blue I am suggesting that this and other stories are being conveniently hidden behind this one
Maybe it is not a bad thing, maybe they might get a fair trial, rather than one by a media circus
What media circus ??? The Sun certainly aren't going to go to town ,neither is The Times ... the other papers will I suspect keep their heads firmly lodged below the parapet in order to avoid any mud being slung in their direction ... so we're left with the Guardian and Ms Wades admission,not much of a circus if you ask me ... nice to see some clowns on display though
Yes that was my point, better to not have the media circus in my view.
Sex God
Slightly 'left field', but perhaps a start...................
Easyjet founder Sir Stelios Haji-Ioannou has denounced executives at the airline over their "fat cat bonuses".
Sir Stelios, whose family still has a 38% stake in the airline, has tabled a motion at the annual meeting next month blocking a proposed pay deal.
Attacking the "gravy train" of major companies, Sir Stelios said: "These guys are welcome to resign anytime."
"I know as shareholders we could easily replace them with talented executives and experienced non-executive directors who will cost half as much in bonuses," he said in a statement.
"We must take a stand against directors who seem to regard our company as their personal piggy bank to be dipped into at will. The gravy train of £180m free shares issued over the last decade must come to an end now. Simply put if shareholders can vote down bonuses at Easyjet then bonuses will come down in all listed companies. And that is good for shareholders and pensioners whose pensions are invested in these companies," Sir Stelios said.
Seems a reasonable approach to me and with a 38% stake in the company it's probably a company AGM motion that might actually succeed. If it does, lets see if it happens elsewhere.
Though as Jon Cruddas MP said only 18 pay packages had been voted down in the past decade and follows on from Vince Cable's policy announcement on tackling the soaring levels of executive pay recently
Easyjet founder Sir Stelios Haji-Ioannou has denounced executives at the airline over their "fat cat bonuses".
Sir Stelios, whose family still has a 38% stake in the airline, has tabled a motion at the annual meeting next month blocking a proposed pay deal.
Attacking the "gravy train" of major companies, Sir Stelios said: "These guys are welcome to resign anytime."
"I know as shareholders we could easily replace them with talented executives and experienced non-executive directors who will cost half as much in bonuses," he said in a statement.
"We must take a stand against directors who seem to regard our company as their personal piggy bank to be dipped into at will. The gravy train of £180m free shares issued over the last decade must come to an end now. Simply put if shareholders can vote down bonuses at Easyjet then bonuses will come down in all listed companies. And that is good for shareholders and pensioners whose pensions are invested in these companies," Sir Stelios said.
Seems a reasonable approach to me and with a 38% stake in the company it's probably a company AGM motion that might actually succeed. If it does, lets see if it happens elsewhere.
Though as Jon Cruddas MP said only 18 pay packages had been voted down in the past decade and follows on from Vince Cable's policy announcement on tackling the soaring levels of executive pay recently
Sex God
hmmm i dont think id want a numpty running the bank last time we allowed it the public bailed out the banks
if we have a guy thats doing his job and the bank is recovering then let him have his bonus
peanuts monkeys get pay. are words that comes to mind
if we have a guy thats doing his job and the bank is recovering then let him have his bonus
peanuts monkeys get pay. are words that comes to mind
