RBS chief to get £963,000 bonus

[Dandyman]

i'm going to have to pee on your chips there, he's contractually entitled to £1.66m bonus.

He may or may not be(I've not seen his particulars of employment myself) but the government seems to be willing to break it's contractual obligations to public sector workers quite happily.

 

[Dandyman]

its precisly that sort of attitude that led to the downfall of public sector owned industry*. no incentives, no drive, no excellence. successfull companies are built on incentivising their employees. sure, there can be poor incentive schemes, too easy or too difficult to be realistic, but if you start from a position of just making do and see how you go, you will end up going backwards. theres nothing wrong with bonuses set with well considered targets.

* not a specific UK issue, any country this applies to.

Utter shite - in what way are any of the flogged off utilities or railways better now than when they were publicly owned ? All that happened was the family silver was sold off below market value to allow tax cuts for the wealthy and easy profits for Tory spivs.

 

[beorhthelm]

Utter shite - in what way are any of the flogged off utilities or railways better now than when they were publicly owned ?

could you prehaps explain in what way they are any worse? i was rather thinking off the steel, coal and motor industries that decayed in to such inefficencies that it was cheaper to import from the other side of the world, but probably applies to utilities too. they had no investment for a generation, just kept ticking over so now the costs of that are being borne.

 

[Robbie G]

Is the problem that is being paid a bonus at all, or just the amount that bothers people? As £1m in terms of Government spending is a drop in the ocean (well, assuming it's taxed, then it wouldn't be £1m). And if the government did refuse and let him go, how much do you think they would have to pay for someone as experienced and qualified as Hester to replace him?

If a football player was paid £100k a week, then it's 10 weeks pay. Does a footballer do more in 10 weeks then what Hester does in a year?

 

[simonsimon]

This story was pushed by spin doctors to take the heat off of SIR Fred "the shred" Goodwin.
Capitalism needs to protect its heroes in these troubled times.