£1 million bonus....

[Barry Fish]

http://www.bbc.co.uk/news/uk-politics-16752358

So what do you have to do to get a bonus of £1 million when your basic is £1.2 million...

Boardroom pay is just mind boggling stupid....

[feral chile]

I thought the public sector had a pay freeze? Since we own 80%, shouldn't he only have got 20% of his bonus, if any?

[eFestivals]

http://www.bbc.co.uk...litics-16752358

So what do you have to do to get a bonus of £1 million when your basic is £1.2 million...

Boardroom pay is just mind boggling stupid....

it seems to be the case that all you have to do is turn up for work and do the job you're paid to do in the first place.

Isn't it funny how the rest of us go to work and do what's expected of us within our jobs - so no different to Hester - but don't have a million quid fall in our pockets for doing our jobs?

[feral chile]

I notice the government deny any involvement in this. Because of course, the government can never intervene in anything if it's not to do with benefits can it? I'm sure capping benefits to 26K would have gone a long way to paying for this. Nice to see taxpayers' money being put to good use, helping those who need it. he must have been really struggling to manage, poor love.

[Paul ™]

It makes me sick

[Bisque]

Working as a head hunter in investment banking, its usual to expect your bonus to be as much as your basic salary. Such a sham.

[grumpyhack]

Sadly I doubt that Labour will be able to make much out of this. Open goals and they still miss.

[Bisque]

Making £2bn & getting £1mn bonus is a lot less than what he'd receive if we weren't in a financial crisis &under the public eye... imagine what his predecessors got when they saw this coming.

[pink_triangle]

I am personally against hum getting it. However most of these politicians condeming it are complete hypocrites as theres no chance they would turn it down. In fact if I was in his position I wouldnt turn it down either. While its a disgusting amount of money I think people generally in whatever profession they are in feel they should get a similar amount of money to someone else doing a similar job. Cutting his bonus would just be symbolic and not change anything, you have to change the culture for reward without success and I dont see any ot the main parties want to take on their chums in the city.

[LondonTom]

I get the general point ...but while we applaud footballs and celebrities no matter government owned or not ( and remember the government is acting as a shareholder here rather than real govt. ownership) its all abit hypocritcal to go on about a boardroom bonus.(Albeit he works for a bank owned now by the govt. but i presume he could reasonably expected the same bonus if he worked for a privately held bank..) If he pays the correct tax (E.g 40% of his income for the year) for the year I have no objections while we let others in this country.

[Gre]

If he pays the correct tax (E.g 40% of his income for the year) for the year I have no objections while we let others in this country.

Edited January 28, 2012 by Gre

[feral chile]

What do you think is the chance of this bonus going through PAYE (which would be taxed at 50%)? I'd say slim to none. There'll be some tax dodge no doubt.

[LondonTom]

What do you think is the chance of this bonus going through PAYE (which would be taxed at 50%)? I'd say slim to none. There'll be some tax dodge no doubt.

[Rufus Gwertigan]

http://www.thisislondon.co.uk/standard/article-24031391-rbs-chiefs-pound-1-million-bonus.do

[Ed209]

I get the general point ...but while we applaud footballs and celebrities no matter government owned or not ( and remember the government is acting as a shareholder here rather than real govt. ownership) its all abit hypocritcal to go on about a boardroom bonus.(Albeit he works for a bank owned now by the govt. but i presume he could reasonably expected the same bonus if he worked for a privately held bank..) If he pays the correct tax (E.g 40% of his income for the year) for the year I have no objections while we let others in this country.

Edited January 28, 2012 by Ed209

[eFestivals]

He's given it up...

.... and Gideon Obsbourne has said it was the right thing for him to do.

Which begs the question: why didn't Gideon do the right thing himself and block the bonus in the first place himself? Or aren't govts about doing the right thing any more?

[eFestivals]

Stelios' take on fat cat bonuses:

"I know as shareholders we could easily replace them with talented executives and experienced non-executive directors who will cost half as much in bonuses"

http://www.bbc.co.uk...siness-16786632

And he's right. This idea that only the expensive can run businesses successfully is complete bollocks. In the case of RBS that could have had no chief exec, carry on as they are, and within a few years they'd return to profit anyway. It's merely a case of shaking off the bad debts.

And Hester isn't succeeding anyway. Part of what he's meant to do is increase the share price, when it's halved over the last year. That's not really his fault but how the markets have gone - but gets to show how little effect any individual person actually has.Th

The simple fact is that there's no irreplaceable people in business, not one. Here's betting that Hester's PA could run RBS no less well than he does.

[eFestivals]

that's what I think...

the whole 'fear' of those special people (who seem quite happy for the rest of us to suffer the consequences of their selfish inefficiency) who'll leave the country if we make them give up their bonuses, or pay their fair tax, needs to be tested.

Yep, people should call their bluff.

Alex Salmond did it at the weekend very nicely. Michelle Mona (I think the name is right. She makes knickers, and can't keep herself off TV) has said she'll quit Scotland if they vote for independence. He brushed that off very nicely when he pointed out that she said she'd leave Scotland if the SNP had a majority in the Scottish Parliament - and she's still in Scotland.

[kaosmark2]

that's what I think...

the whole 'fear' of those special people (who seem quite happy for the rest of us to suffer the consequences of their selfish inefficiency) who'll leave the country if we make them give up their bonuses, or pay their fair tax, needs to be tested.

[kaosmark2]

what money is gained from "the excessive pay and bonuses and tax evasion"?

[eFestivals]

Sorry, money gained from allowing this stealing bastards to operate in the country. Supposedly.

While there might be 'money gained' from these thieving bastards, there's laws against living off the proceeds of crime.

[kaosmark2]

.... so you're agreeing we might be better off by letting them go...?

[fred quimby]

The simple fact is that there's no irreplaceable people in business, not one. Here's betting that Hester's PA could run RBS no less well than he does.