Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
Howard, this guy is not a public servant, despite 83% public ownership.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Howard - this morning on the radio even the opposition business spokesman, called Chukka 'something strange' said he had done a good job.
It is wrong to suggest that the share price and lending targets suggest he has not been a success. The share price is affected by economic conditions as are the current results for the bank including lending targets. What is more important is how he is restructuring the company to turn it around.
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,895
If this man had any common sense he would at least defer his bonus as an example that not all bankers are greedy, surely the bailiffs are not knocking at his door.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 698- Registered: 28 May 2010
- Posts: 8,664
I understand he has waived a fair part of his bonus. If you are looking for people to blame, try the people who signed off his remuneration package in the first place. I wonder who they were?
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Jan Higgins- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,895
Fellow bankers????????????????
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
was it a scottish chap by any chance peter?
barry
chukka did say he had done a good job then added that he was paid a large salary with a large pension pot to do that.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Two Scottish chaps I believe.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Howard - the case aginst him getting the bonus is purely an emotional not a logical one. Some simple facts:
1/ He did not cause RBS problems and was brought in to turn the business around and get it ready for re-privatisation with the shares sold and taxpayers getting the money back plus some profit.
2/ There is a very small pool of people with the right experience and proven ability who can take on such a challenge as this company. It is a very high paid pool of people. The high reward is determined by that market.
3/ Taking on such a high profile job is a high risk one and a high risk deserves high reward. This row alone demonstrates how risky it is. A job like this is highly political and high profile. He is an open target for anyone to interfere with what he considers needs to be done including politicians who simply do not have a clue. He would pay a high price if he is deemed to fail.
4/ It is in the interests of taxpayers for him to be a success. His bonus is paid as shares. The value of those shares and therefore the true value of that bonus will be reflected in whatever he eventually sells them for. If he is successful it is a win win, he will make a lot of money on the shares for his success and so do the taxpayers.
The fact is there is a very good business case to make for him receiving this bonus. To summarise, it is a market case with an additional risk based justification and an enlightened self-interest case for the taxpayers.
The case against is based on cheap populism of the lowest common denominator.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Barry, the man is paid to do his job, it's a high salary, so why does he have to increase it by 2 or 3 times? That's cheating, as far as most people are concerned. It's a whole-sale rip off!
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
In today's climate, even if this geezer is there to try to turn around the R B S affairs, is he worth all that dosh??
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Yes he is worth the dosh - the market dictates. Alexander - not not a rip off, it was the terms on which he was employed in the first place and, as I said, those reflect the market rates.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
I don't necessarily have a problem with high-paid jobs and the rewards that those jobs can bring, but these people are given these jobs, with the attached salaries, because they are expected to do well, that's the whole point of a high-powered job with a high salary - you are expected to do well, you should do well for that salary.
If they weren't doing well; if they weren't turning round that particular company (which ever one it is), they should be sacked as part of their contract and not with a huge pay-off.
I don't believe they should be given extra for doing the job they were employed to do - to do well.
No one would be paid hundreds of thousands of pounds to do an "ordinary" job - would they ?
Roger
Guest 671- Registered: 4 May 2008
- Posts: 2,095
BarryW.
I could agree with #148.
Providing, him and others like him, and banks and other business's like them, pay their full share of tax, that their toilet cleaners have to.
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Cameron under fire for failing to block Hester bonus.
PM accused of misleading parliament and Boris increases the pressure on Cameron saying he is``bewildered with the
£1 million pay out``
PM spokesman says ``bonus was not mandatory and that government could have blocked it``
PM must now explain why he let it happen.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
RBS spent £ 2.5 million of British tax payers money on lobbyist companies in USA.
Ministers call for banks who have been bailed out with public money not to hire ``public affairs`` companies.
What a good idea..............................
I belive the person in question was appointed by the last Labour regieme , that also set his terms and conditions including the percentage of bonus he should be awarded .
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
sarah;
what you say may well be true
but the present cobbled together govt has the opportunity to change all this
but chose not to
post 153
have to go along with some of this
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
This same man, according to Sky News, has now been offered shares in RBS in the value of 3 million + pounds, it's an outrage. This is adding insult to injury.
The public opinion is simmering, like lava about to burst up from a volcano. Comments on Sky News receive votes, and there are heavily voted comments suggesting there may be an insurrection if this goes on.
The Government should get their act together. A few weeks ago they promised to put an end to the indiscriminate bonus system, possibly by March this year. They're considering giving share-holders more say in the remunerations of the board executives
But bankers' bonus season starts in January and goes on into February, so maybe the top bankers are trying to grab massive amounts of corporate shares in a last bid to remain in the banks' share-business and so-by become predominant share-holders.
So if a new law is introduced giving share-holders binding votes on board-room payouts, the bankers will already have guaranteed themselves a place among the major shareholders.
Each year the same individuals are getting millions of pounds, in money and in shares.
Jan Higgins- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,895
I just heard on the news that Mr Hester's boss Mr Hampton? has turned down his £1.4 million bonus, so some bankers do have common sense and a conscience after all.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Yes Jan, but he offered him over 3 million pounds in bank shares instead! That's 3 times more than the bonus.