RBS chief to get £900,000 bonus

Graham_Devon

The threat to leave seems to be coming up in the news now. Seems there was a genuine threat there that if this bonus wasn't paid, a few key individuals would leave.

RenovationMan

misskool wrote: »

Obviously. They would probably want paying the same amount though. Not sure what the point is there

WOW! Go misskool! :cool:

toddle2u

Heston could, if he has any morals, turn it down.

Why should he. He didn't cause the mess he was head hunted for the job and took it and the contractural terms in it which included his bonus. Apparently it has cost him his marriage and he has been lumbered with the orderous task of paying the tax payer back for the bail out caused by others

homelessskilledworker

MrRee wrote: »

It always makes me laugh ... this thing called jealousy.

I work with people earning £1,000 a day - some £2,000 a day ......... why do they get such good pay, I hear you ask?

Answer is that they are the best at what they do - and that is what they demand to get paid ... we pay it.

Now, hands up here, who think they could do the job as boss of RBS? Hands down the clowns amongst us ........ you couldn't do it, or you WOULD be doing it!

And, now, hands up who would take £2million if that is what someone wanted to pay us for doing what we do? ..................... WOW!! That's 1,000's of you!!

Now, hands up who thinks this £2million should NOT be paid to the boss of RBS ..... OH, I see - the very same people who would take it in the question above ...........

Interesting dynamic there!

Are have you gone totally around the bend!!

You posted this moronic child like post as if this very dumb scenario was playing out in front of you.
Do you honestly think we are all nodding in agreement "He's right you know", and putting our hands up:rotfl:

MrRees, you do not work with people who earn £2000 per day, you do not work with people that are nuclear scientists or are captains of industry, or any of the other bs lines you come out with.

Sorry to be so crude but from your style of posting most of us can see you are just a little bit too thick

Graham_Devon

toddle2u wrote: »

Why should he. He didn't cause the mess he was head hunted for the job and took it and the contractural terms in it which included his bonus. Apparently it has cost him his marriage and he has been lumbered with the orderous task of paying the tax payer back for the bail out caused by others

Personally, I feel the comparison to an afghanistan soldier is a good one.

Familes have been torn apart through protecting our country. Not just torn apart through work stress, but death.

What makes this man worth (in monetry terms) 117 serving British soldiers who risk their own lives for us?

It's a very crude comparison. One that can't even be taken seriously in a way. BUT it does somewhat highlight the enormity of the money being talked about.

His salary is 1.2m. I believe personally, thats a decent enough salary for the "suffering" you describe.

It also appears shareholders themselves are voting with their feet, according to a commentator on the BBC. The share price is down today, 2%, which is being laid at the door of this bonus. So even his shareholders are not happy about it.

Graham_Devon

And the BBC has just stated there was a confirmed threat from Hester and the board to all walk out if these bonuses were not paid.

Apparently the contractual thing had a clause and the bonus in this case could have been stopped or severely reduced.

Which is starting to create another argument, as on one side people are stating we need him, he's so good for the bank, but on the other, the threat add's more weight that actually, if he's so good to the bank, why are he and the board holding the shareholders to ransom and threatening a walkout which would leave the bank in dire straits and in a new crisis?

Not really any different to the public sector worker strikes in a way. Apart from he's not threatening striking for a day. He and the board are threatening just leaving, and with that means serious trouble for the bank (and all of us).

He'll win that one, for sure. What real choice did we have? Were kind of into damage limitation here.

Jennifer_Jane

I have worked closely with 'Captains of Industry' albeit in PA roles. It's my view that they are surrounded by the people who actually do the jobs, make the presentations, advise on what to do. The top level make the ultimate decisions, and frequently the wrong ones.

Just take off a few noughts and the figures are manageable, the difference between them and us is probably that they are not overawed by words like 'billions', 'trillions'.

They make huge and costly mistakes which the 'lower orders' never hear about, and it's more luck than talent when the Companies they run are successful. In the meantime, the Company indulges in cost cutting of people, stationery, travel, salaries, and the Companies trundle on. There isn't that much difference between them and the rest of us - the intelligence levels are similar, education is similar - there are only 24 hours in their day and ours.

There doesn't appear to be a difference in the number of the top layer of Bank executives going on stress leave compared with anyone in other areas. In fact, I would say that they cause more stress to the ordinary employees.

These people, often knighted and indulged, with people virtually bowing and scraping before them, are often not running their companies well, chauffeurs, planes, etc smooth the path. The Board and Senior Executive teams are certainly NOT running the Companies on their own.

Every employee with a home laptop and mobile phone now has their life revolving around their jobs these days, if not previously.

When is Hester planning to return the bank to profitability? I would love him to receive a fabulous bonus when he does, but not in the meantime.

Quite frankly, they go from one Company to another, it's all 'the old boys' network' even if they've not in reality been successful. I refer to Sir Tom McK.... who moved from a pharmaceutical company to a bank. The share price at the pharmaceutical company has not really moved in decades.

Of course the share price doesn't affect the day-to-day running of a company, but it does reflect what the market thinks of the Board (amongst other things, of course). Performance is often connected to share price, and nothing I've heard yet makes me think that Hester deserves his huge bonus when he will be getting fabulous share options, a fabulous salary.

They are the feudal lords of the 20th and 21st Century.

2sides2everystory

And that Jennifer_Jane is the truest post on this forum today.

These people are no different to the rest of us - they represent an alignment of the planets that's all - right place right time.

As for what they do ? Stuffed shirts. And a little bit of haughtiness picked up with the realisation they made it to the top of the tree.

I mean when it was time for his first bonus, who did he bring into the argument ? His dear old Mum !

Hester can't even walk a corridor and enter a room properly - I chuckle each time I see that clip of him in the £3,000 suit, tailored to hide his spare tyre, walking the corridor and then doing a little shuffle as he opens the door to a very ordinary room called "Edinburgh" :rotfl:

Sure he's probably got an IQ of 160 and a quirky personality that no-one can quite fathom, but come on ... he is not indispensable ... he's not even running the place, not really, is he? He is second rate.

The share price is very important. Taxpayers want their money back, not a flippin' penny share. Banks like Barclays successfully manipulate their own shareprice like it was a bouncy ball on their bat (Sergeant Wilson style ) ... all Hester did was watch the ball drop to the floor, found it, put it on the table, and then it fell off again recently.

RenovationMan

Odd how many people can do these high flying jobs and yet roll along in their mundane lower paid ones. I guess it's enough to know that they could be a high-flyer if they wanted to, they just choose not to.

Perhaps the thought of paying high rate tax must put them off?

CLAPTON

All three parties are simply grandstanding to gain a bit of cheap publicity

Vince Cable recent announcements mean virtually nothing; simply a lot of words meaning nothing

Labout appointed Hester and agreed his contract

Cameron can sack Hester now if he wants to

There were bankers in the recent honours list (OK so they contribute to the Conservative party so that makes it OK)

If we want to restrict top salaries then we need realistic polices and be willing to live with the consequences