Lloyds v Nationwide

jimjames

anamenottaken wrote: »

Is there evidence for claiming that astronomic pay to directors equals sound decisions and good management?

I think the evidence might prove the opposite! G4S or Barclays anyone?

grey_gym_sock

of course, there's no advantage in the overall level of directors' pay being as high as it is. but given what everybody else is paying, nationwide can't pay vastly less, or just about everybody with suitable experience will choose to work elsewhere. their pay policy is, IIRC, and simplifying a bit, to aim for a little below the comparable average pay. i suspect they could aim for a bit lower still, but there is a limit.

Robisere

MoneySaverLog & ajbell:

I put my money where I believe it is SAFE. And where it is not in the hands of organisations that have absolutely no scruples whatsoever, about defrauding the British customer. How much do you think the CEO's of the High Street banks are paid? - Oh wait, we all know about the massive bonuses they were all getting, noses firmly in the trough until they are finally, after a long struggle against it, being shamed into giving some up.

This is the fact: No major British bank has come out of the present financial hole with any credit. If you performed at work, with the same lack of success, you would be down at the JobCentre in no time.

Meanwhile, after the losses I took from 3 investments, in Standard Life, Aviva and Skandia, I have put what is left into 3 mutuals. And I juggle my NW money between 3 accounts and 2 ISA's, transferring elsewhere when a better rate appears.

Why would I let NW have my money for nothing? I don't, I use my Flex account to spread it around where it does most good.

And after all that, it really is none of your business. You look after yours, I will do the same with mine.

Thrugelmir

Archergirl wrote: »

She would hate to miss out on any bonus to Lloyds customers as she has been with them for about 25yrs.

All taxpayers will benefit from the sale deal. So she won't miss out.

Glen_Clark

Thrugelmir wrote: »

All taxpayers will benefit from the sale deal. So she won't miss out.

How will taxpayers benefit from their Lloyds Bank branches being sold off cheap?

sabretoothtigger

Has Lloyds ever been mutual ? Theres no chance of shares going to customers that Ive heard of.
If you pay taxes then Lloyds profits effect you but not directly.

The deal on the news is by the EU I believe. UK basically subsidised finance here, massively so with lloyds and RBS and EU says hey thats not a fair common market me matey


RBS will sell Directline and friends in similar appeasement. You can buy shares in that if you want in the autumn, apparently

Thrugelmir

Glen_Clark wrote: »

How will taxpayers benefit from their Lloyds Bank branches being sold off cheap?

With the various brands under the LloydsHBOS umbrella this reduces duplication within the network. Far easier to sell than close. Particularly with liability for property leases factored in.

LardyCake

MoneySaverLog wrote: »

...
Members keep voting in the Chief Executive on his 7 figure salary and same with his stock options. ...

What stock options? I'm no expert but I can't see how a UK mutual could award share options.

innovate

LardyCake wrote: »

What stock options? I'm no expert but I can't see how a UK mutual could award share options.

Yeah, no stock options, but they have bonus plans, and the payments under those bonus plans are substantial. Bottom of page 74 of last year's annual report has a graph for executive remunerations. APPP and MTPPP are bonus scheme payments.

APPP = Annual Performance Pay Plan
MTPPP = Medium Term Performance Pay Plan
(explained on pages 71-73)

LardyCake

innovate wrote: »

Yeah, no stock options, but they have bonus plans, and the payments under those bonus plans are substantial. Bottom of page 74 of last year's annual report has a graph for executive remunerations. APPP and MTPPP are bonus scheme payments.

APPP = Annual Performance Pay Plan
MTPPP = Medium Term Performance Pay Plan
(explained on pages 71-73)

Oh, yes I know that and regularly vote against it. I was not defending the directors of Nationwide in anyway.