I don't read the paper. I occasionally look at page 3 of the sun if there's a copy on the train thoughOriginally Posted by Mark
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I don't read the paper. I occasionally look at page 3 of the sun if there's a copy on the train though
Agree with Johnny and Doc and Mark's point about wages is on the button as well.
I'm sick and tired of hearing people whinge about what other people are being paid or what they're getting in pensions or bonuses! The majority of people who moan don't have a clue and just spout what either is in the media or what Daddy has spouted out in a pathetic narrow minded whinge. When you challenge them it quite clear they haven't got a clue. The unfortunate by product of our culture is greed, if one person sees another earning X amount then they want it, if they can't have it then neither should that person, regardless of what they do etc.
On a slightly different note as Sideways touched on it earlier, did you know that Obama gets paid around £450,000 per annum and did you know that the Prime Minister of Singapore earns £1.1m per annum and that's after a 36% pay cut!!!
i know, and i am aware of what went wrong.
my point is, and has been ,the contract should not have been written like that in the first place. it seems that at the time, labour did everything that would wind up the general public 2/3/4 years down the line.
how do we know that it was HIM directly responsible for saving the bank? how do we know that he would deffinatly made a similar or more proffit for another bank? we dont.
can we 100% say that he wouldnt have joined without a bonus?
can we say that every banker would leave every bank if they stopped paying bonus whilst they are owned by the state?
we cant answer any of the qusetions.
but regardless of any ones opnion on here, public sentiment is key, the government is loosing that massivly and it will show in the next election. 90% of the general public wont realise that it was under Labour that Hester was employed and his contract written, all they will see is a conservative government, owning 84% of RBS allowing him to receive a £1m bonus.
Reading this thread really puts our country into perspective, we pay a PM peanuts to run a multi billion £ country, no wonder were in the shit
Agreed! My bonus is more than 100% of my salery!!! But I work bloody hard to get there!Mate, seriously, you are either trying to be funny and failing, or you are suffering life experience issues here, I dont know which.
A 30K sales job will quite likely have a £15K bonus attached, its the way sales works. Rather like CEO positons are often targetted as well, just the numbers are bigger.
If Labour had written a contract for him for £2M a year with no bonus, everyone would be saying they sold out as the boss would have no incentive to deliver.
As it is, they have given him an incentive then reneged on the deal.
What was wrong was that Labour didn't go after Fred because what he did was pretty close to criminal negligence yet when he was sacked he had a watertight contract that gave him a huge payoff to get rid of him. The government tried to stop him taking it but he stuck two fingers up to everyone and they couldn't touch him because he knew the game was up and he'd never work again...but now he doesn't need to
My biggest problem is Labour are shafting this guy because they can and because it serves their purpose and NOT because he deserves to be shafted.
Tony Blair isnt a PrimeMinisterQ: How much does a Prime Minister earn ?
A: £27M last year. His name .... Tony Blairhe is a cvnt
Speaking of C*nts...
http://www.bbc.co.uk/news/uk-politics-16821650
Shame
Same.
the government should be bringing criminal proceedings to alot of bankers for their part in the systematic fraud, neglegence and criminal wrong doing they played in the lead up to the 2008/2009 recession.My biggest problem is Labour are shafting this guy because they can and because it serves their purpose and NOT because he deserves to be shafted.
if this was a 100% private bank, i bet there wouldnt be any news about it, or if there was it would be as news worthy as this is.
Yes Hester is being used as a scape goat, but unfortunalty in the world we live in, there has to be one. Ed milliband doesnt have a clue about anything, and if he did he would STFU on this matter.
the bonus was not £1m cash
He was going to be given 3.6m shares equalling £1m in todays money. if he got the share price to the point it requires it to be his bonus would have gone up. he would also have capitalised on the dividend as well.
the Taxpayers share would have decreased, as the 3.6m would have diluted the share pot.
why not forgoe his wage intirly, give him 5m shares, he then receives a dividend for that and the monetary value will increase with the banks proffitability. its the ONLY REAL performance indicator that could work for a bank.
if he's so great, he should work on getting a proffit share instead of a yearly wage and bonus of any type. basically a salesman working on comission only. the better he does, the better the company does the more money he earns.
Oh yeah, then the Daily Mail get hold of that number, say £5m, and he has to give that up too
See quote...the government should be bringing criminal proceedings to alot of bankers for their part in the systematic fraud, neglegence and criminal wrong doing they played in the lead up to the 2008/2009 recession.
Yes they should...not just strip them of their knighthoods
if this was a 100% private bank, i bet there wouldnt be any news about it, or if there was it would be as news worthy as this is.
Yes Hester is being used as a scape goat, but unfortunalty in the world we live in, there has to be one.
What a fcuked up world
Ed milliband doesnt have a clue about anything, and if he did he would STFU on this matter.
the bonus was not £1m cash
He was going to be given 3.6m shares equalling £1m in todays money. if he got the share price to the point it requires it to be his bonus would have gone up. he would also have capitalised on the dividend as well.
the Taxpayers share would have decreased, as the 3.6m would have diluted the share pot.
Yea, right ? Hello...What do you think RBS's market cap is ? 1M quids worth is going to make sooooo much difference to the taxpayers desire to get their 45,000 Million back
why not forgoe his wage intirly, give him 5m shares, he then receives a dividend for that and the monetary value will increase with the banks proffitability. its the ONLY REAL performance indicator that could work for a bank.
if he's so great, he should work on getting a proffit share instead of a yearly wage and bonus of any type. basically a salesman working on comission only. the better he does, the better the company does the more money he earns.
Hey, that's a great idea. Then after he's fixed the problem, you could not pay him at all because he's a banker and everybody knows you need a scapegoat, right ?
Ever been to Communist Russia, Billy?
I get the feeling that this would only work if we could pursuade Ernest Borgnine to drive the Isle of Wight to Portsmouth hovercraft.
what boils my piss is the 'bonus' the tube and DLR 'button pressers' (I refuse to call them drivers) are getting for the Olympics. For...........................doing what they do every day.
While passengers face horrendous problems getting around. this week we have been told to go to the pub after work and wait til it quietens down. Maybe my non existent bonus for going to work as normal will pay for the beer.
p.s. PBS Chief - if he was promised it and performed to the target he should have got it. Is it too much + his salara - separate debate
Last edited by sparkyhx; 01-02-2012 at 10:04.
This isn't the soviet union and socialism doesn't work. And the fact it is a publicly owned bank should not affect how it is ran. To compete with the other private banks it has to be able to perform like them. Labour can seriously go screw themselves trying to use this to jump on popular opinion, they helped mastermind the mess.
As to the individual who has been shamed into not taking his legally entitled bonus, how can he be shamed for bringing a bank back from the brink of disaster caused by others before. As others have said, I hope he buggers off to pastures new.
Seriously so what, why do you care? There are a billion and one other things far more relevant to get your knickers in a twist over. They have achieved a pay rise in a recession for a job that has little skill value, bloody fair play to them. The highlighted bit above I think is your real issue and it's not their fault.
Last edited by TrIcK^; 31-01-2012 at 20:39.
Why's it always a 'bailed out' and not a 'saved the hardworking savers of this country from losing all of their money' or 'saved the UK Govt from having to pay out to savers for their lost investments which would never be recoverable otherwise'. Or even 'investing money in an organisation having temporary cash flow problems owing to over-investment and an unprecedented global financial downturn which will eventually pay the public purse back twice what its owed plus an extortionate interest rate'
Because 'bail out' is the correct term when describing the action of giving financial support to an organisation to prevent it failing or collapsing. Everything is just churching it up.
You're quite correct - didn't really mean it quite in that spirit. More, well, it's not quite as the tabloids would have the public believe, it's not just a case of 'giving' loads of money away and getting nothing back for it and it's not a case of saving the banks cos they're all mates, whereas they wouldn't save the football club.
By no means did I rate Gordon B or his cronies but TBF I think they got the response to RBS pretty much bang on the nail.
The way I see it, no matter what he was given a goal to meet to achieve the bonus.
If he's met that goal, give him the dam thing.
If the goal was too easy to get to, its the governments fault for not making it harder for him to achieve.
Its like any sales type job. Car salesmen get like 20-30k a year, its a shite wage, but if they are good at their job they can double that. Give someone an incentive to do something, and it'll get done!
We should sort this out in keeping with modern day Britain.
To decide who should run RBS we'll have a Saturday evening TV show called "Britain's Got A Banker" fronted by Ant and Dec.
2004 - on : 1999 S14a 398bhp 378lb/ft
2010 - on : 2007 RX8 PZ
1998 - 2004 : 1991 S13
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