Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 9:12 pm  

cod'ead wrote: RBS Chairman gives up his share bonus Meanwhile, Cameron continues witrh his weaseling lies: The government said it would not block a £963,000 bonus, also in shares, for RBS chief Stephen Hester. Prime Minister David Cameron said it was up to Mr Hester whether he accepted the bonus. "That's a matter for him, that's obviously his decision." Mr Hester's contract at RBS - which is 82% publicly owned - was agreed by the last Labour government, Mr Cameron said And not to be outdone, Gideon has spoken to Stephanie Flanders: George Osborne has just told me the government will not vote against Stephen Hester's bonus as a shareholder at the April AGM. Ed Miliband had thrown down the gauntlet on this today, but the chancellor has declined to pick it up Pair of 2@s. Mebbe the commission that single mothers with pay on their CSA can be lumped into the RBS trough too? Put Harry Rednapp in charge. Cant do much worser and still will be hailed a good boy if it all goes tits up again.

cod'ead wrote: RBS Chairman gives up his share bonus Meanwhile, Cameron continues witrh his weaseling lies: The government said it would not block a £963,000 bonus, also in shares, for RBS chief Stephen Hester. Prime Minister David Cameron said it was up to Mr Hester whether he accepted the bonus. "That's a matter for him, that's obviously his decision." Mr Hester's contract at RBS - which is 82% publicly owned - was agreed by the last Labour government, Mr Cameron said And not to be outdone, Gideon has spoken to Stephanie Flanders: George Osborne has just told me the government will not vote against Stephen Hester's bonus as a shareholder at the April AGM. Ed Miliband had thrown down the gauntlet on this today, but the chancellor has declined to pick it up Pair of 2@s. Mebbe the commission that single mothers with pay on their CSA can be lumped into the RBS trough too? Put Harry Rednapp in charge. Cant do much worser and still will be hailed a good boy if it all goes tits up again.

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 9:25 pm  

fargrange1 wrote:

Put Harry Rednapp in charge. Cant do much worser and still will be hailed a good boy if it all goes tits up again.

Unfortunately Redknapp would want more than the RBS board put together

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 9:31 pm  

cod'ead wrote:

Unfortunately Redknapp would want more than the RBS board put together

Nah, he's got so much money he keeps forgetting where he's storing it.

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 9:42 pm  

Intersting letter in today's Guardian highlighting the farce. Here we have Hester running a state owned bank, potentially getting a million pound bonus for his performance. That performance has consitsted of making many thousands of employees redundant. The writer estimated the costs to the state in terms of lost taxes and higher benefits at 110 million pounds. So, whilst the bank might be less broke it is still broke and any gains he's made for the taxpayer in terms of the bank are offset by the other costs to the state, it's a joke. This is neither capitalism (if it was the bank would not exist) nor communism (if it were we wouldn't be conisdering such levels of remuneration). So what it our new economic system? I'll coin the phrase "insanityism."

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 10:22 pm  

Dally wrote:

Intersting letter in today's Guardian

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 10:28 pm  

cod'ead wrote:

:shock:

I've told you before Mrs D subscribes to it - a sad state of affairs.

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 10:38 pm  

Dally wrote:

I've told you before Mrs D subscribes to it - a sad state of affairs.

My old lady used to buy Woman's Weekly, I never bloody read it though

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 10:40 pm  

cod'ead wrote:

My old lady used to buy Woman's Weekly, I never bloody read it though

Not even the problem page?

Re: RBS bonuses - "Labour stitched us up" : Sat Jan 28, 2012 10:47 pm  

to be fair. Isn't it irrelevant who's in government? Who said this, who said that. I understand a government has kept this bank afloat. But as long as you have these non executive directors who are given the "jobs for the boys" by the people that they then decide to give financial bonuses to. They each earned between 103,000 - 150,000 in 2010. Surely do something about them rather than a government? from the 2010 annual report on remuneration Changes to approach In addition to the changes made to executive directors’ remuneration arrangements, the Remuneration Committee reached decisions on the following key areas during 2010: establishing a governance framework for incentive plans and bonus funding across the Group, involving the Finance, Risk and Human Resources functions at all key decision points; a structure of deferment for incentives for up to three years, with the ability to clawback if appropriate; and the introduction of a new Long Term Incentive Plan following consultation with a number of institutional shareholders. The new LTIP received the approval of over 99% of shareholders at the Annual General Meeting in 2010, and at the same meeting the Remuneration Report received overwhelming shareholder support. The shareholders approved how these people were paid. The non execs hired remuneration advisors from Price waterhouse Coopers LLP It's all very interesting reading. Download a pdf from: http://www.investors.rbs.com/report_subsidiary_results I think more importantly Hester was always going to get this money even form early 2011. What is of greater interest is he got over £2,000,000 in his overall package than he did in 2009. (page260) Do a find for the word remuneration for all the juicy bits on the pdf

to be fair. Isn't it irrelevant who's in government? Who said this, who said that. I understand a government has kept this bank afloat. But as long as you have these non executive directors who are given the "jobs for the boys" by the people that they then decide to give financial bonuses to. They each earned between 103,000 - 150,000 in 2010. Surely do something about them rather than a government? from the 2010 annual report on remuneration Changes to approach In addition to the changes made to executive directors’ remuneration arrangements, the Remuneration Committee reached decisions on the following key areas during 2010: establishing a governance framework for incentive plans and bonus funding across the Group, involving the Finance, Risk and Human Resources functions at all key decision points; a structure of deferment for incentives for up to three years, with the ability to clawback if appropriate; and the introduction of a new Long Term Incentive Plan following consultation with a number of institutional shareholders. The new LTIP received the approval of over 99% of shareholders at the Annual General Meeting in 2010, and at the same meeting the Remuneration Report received overwhelming shareholder support. The shareholders approved how these people were paid. The non execs hired remuneration advisors from Price waterhouse Coopers LLP It's all very interesting reading. Download a pdf from: http://www.investors.rbs.com/report_subsidiary_results I think more importantly Hester was always going to get this money even form early 2011. What is of greater interest is he got over £2,000,000 in his overall package than he did in 2009. (page260) Do a find for the word remuneration for all the juicy bits on the pdf

Re: RBS bonuses - "Labour stitched us up" : Sun Jan 29, 2012 5:33 am  

Spoke to a friend today who works for and RBS company here in Oz.

He said that their office in Syd is up for sale as such.

Also said that Hester was brought in when RBS were in the complete poo. And has done a decent job. He could be getting a lot more elsewhere but chose to help out.