EM TuningMonster Motorsport
Results 1 to 24 of 24

Thread: RBS Bonus

  1. #1
    ScottD3's Avatar
    I want your faulty electronics

    Status
    Online
    Join Date
    Nov 2010
    Location
    English Riviera
    Posts
    15,012

    RBS Bonus

    I think I missed this little snippet of new but I'm trying to catch up.

    What is every ones views and thoughts on this?
    Any insider information or more educated information than what the media gives us?

    New Car, New Thread: Scott's Akoya Silver A8
    Gone But Not Forgotten: Audrey's Build Thread

  2. # ADS
    ADS
    Join Date
    Always
    Location
    Global
    Posts
    Many
     
  3. #2
    s3dave's Avatar
    TFSI Hybrid

    Status
    Offline
    Join Date
    Nov 2009
    Location
    west yorks
    Posts
    10,121
    A bonus in my day was awarded for outstanding achievement's/targets, RBS is still losing money so IMO its disgusting!
    Dont forget he will be on one hell of a salary.....
    The government are to scared to rock the boat it seems.....

  4. #3
    ScottD3's Avatar
    I want your faulty electronics

    Status
    Online
    Join Date
    Nov 2010
    Location
    English Riviera
    Posts
    15,012
    82% of RBS is owned by us.
    The government is scared to step in and stop the bonus cause most of the board members says they will walk out.
    Fine walk out, your not unreplaceable.

    New Car, New Thread: Scott's Akoya Silver A8
    Gone But Not Forgotten: Audrey's Build Thread

  5. #4
    monster_munch's Avatar
    1st Gear

    Status
    Offline
    Join Date
    Dec 2011
    Posts
    149
    I read it this morning, from memory he earns £1.2 million salary, got a £960k bonus, and RBS is 83% tax payer owned or something.
    Do these people live on the same planet as us? Do they know people are losing their jobs, homes, livelihoods?
    I often wonder, on this tiny little planet of ours, how is it allowed that there can be such big divides between human beings.

  6. #5
    Nilz's Avatar
    Defo worth the wait :)

    Status
    Offline
    Join Date
    Apr 2006
    Posts
    10,087
    If 82% of it is owned by us, why are we not getting a cut of it?

    What has he done that warrants that big a bonus?!!?

    Its just rubbing our noses in it, and quite frankly i think its a pi55take!!

    When they were in need of us hardworking individuals to pay out and help them, why can they not be decent human beings, have a bit of self respect and shame and turn the bonus down and put it back to us!!!

    Im disgusted by it.

  7. #6
    Nilz's Avatar
    Defo worth the wait :)

    Status
    Offline
    Join Date
    Apr 2006
    Posts
    10,087
    Oh and have you seen how many job cuts they are making, for call centre staff etc!!!

  8. #7
    ScottD3's Avatar
    I want your faulty electronics

    Status
    Online
    Join Date
    Nov 2010
    Location
    English Riviera
    Posts
    15,012

    New Car, New Thread: Scott's Akoya Silver A8
    Gone But Not Forgotten: Audrey's Build Thread

  9. #8
    s3dave's Avatar
    TFSI Hybrid

    Status
    Offline
    Join Date
    Nov 2009
    Location
    west yorks
    Posts
    10,121
    It would be nice if he donated it to a local youth work charity, they would be able to run a good few years on that....

  10. #9
    monster_munch's Avatar
    1st Gear

    Status
    Offline
    Join Date
    Dec 2011
    Posts
    149
    Just another example of how the average working person is being bent over!
    Im in the military and I am losing my job this June, after 9 years of front line service on Harriers which have been prematurely scrapped by the SDSR.
    When I found out I was losing my 'secure' job in the military, I got a diesel car in readiness for the daily commute when I have to start travelling every day.
    And what is the latest headline? Oh yes, diesel prices are rocketing up to a new record high, and soon there will be no advantage to having a diesel car over a petrol.
    Nice one british goverment, I salute you. You bunch of absolute retarted troglodytes.

  11. #10
    Ads
    Ads's Avatar
    License to drive

    Status
    Offline
    Join Date
    Jul 2009
    Location
    London
    Posts
    8,223
    I used to work for RBS (Well Natwest which is owned by RBS) and I was lucky if I got a 960 pence bonus.

    It was a good few years ago (15 years ago) and my starting salary was only £10k per year. And I bet I worked more hours than this guy.

    However, if they'd offered me £2m in wages and bonus I'd have taken it all day long. Tax payer's money or not.

  12. #11
    s3dave's Avatar
    TFSI Hybrid

    Status
    Offline
    Join Date
    Nov 2009
    Location
    west yorks
    Posts
    10,121
    I wonder how much dividends the other 18 private shareholders raked in, in my book it should be nothing as the company is not profitable yet...

  13. #12
    warren_S5's Avatar
    Moderator

    Status
    Offline
    Join Date
    Oct 2007
    Posts
    7,164
    From what I see more recently, to get round the issue of financial performance many of these companies are setting non profit related targets for their senior execs. In one company I recently contracted for I saw bonuses paid to senior managers where they weren't paid to staff as cost reduction targets (e.g. Redundancy targets) were met so management got a healthy pay out.

    To circumvent the bonus system targets are being set which means that the company can actually deplete staff, quality and standards and chief execs still get paid.

    This gentlemen (and ladies) is the new breed of religion known as advanced state capitalism. Ironically it's not to different to communism other than whereas in communism the people give up their wealth to the state which looks after them (...ahem!), we pay taxes for ours to do the same for us. The bottom line is, in both models 90 odd percent of the wealth still sits in less than 10% of pockets. Capitalism just presents the illusion of 'choice' to make the model more palatable.

    At board meetings these folk sit round and decide what the next years pay rates will look like, as they all want increases, they all agree to each others increases without much in the way of independent adjudication. These people don't often get to the top by good morals and a keen sense of ethical justice, they are suited mercenaries (e.g. Fred the Shred, gives us back your knighthood: well done Labour....not!). Like politics and government, this is now all about self interest as at the top of the food chain life is so far removed from what we know of course they will crave more and more.....

    So which is the lesser evil?! capitalism, communism, or something else? I tolerate our system as it will generally reward me if I bust a gut, but thank god there are so few chief execs of these sort of companies in the economy. For me it's not the money they get I care about, it's the people they directly affect in doing so. I guess it's been going on forever behind closed doors, it's just today we get to know about it.

    A very sorry state of affairs, and if he hands it back, you KNOW it will be bundled into future earnings or rewrapped into alternative benefits (probably handled offshore!)
    Last edited by warren_S5; 27th January 2012 at 10:25.
    Audi S5 3.0V6T Coupe Black Edition

  14. #13
    jcs356's Avatar
    Brum brum

    Status
    Offline
    Join Date
    Jun 2004
    Location
    Englandland
    Posts
    2,681
    If you want a decent CEO to run your company, you need to pay a competitive salary. Whilst these numbers might be telephone numbers to the majority of the population, they are run of the mill for a CEO.

    OK, 82% of the company is in public ownership, but I'd rather have the bank run by someone who knows what they are doing than dragging someone in off the street for £100k and expect them to do it.
    Jason
    2001 Nogaro S3 (daily driver)

    1958 replica Porsche 356 Speedster (summer posing)
    1997 Seat Cordoba SX 16v (track day toy) replacing (t)rusty 1994 Seat Ibiza GTi RIP

  15. #14
    warren_S5's Avatar
    Moderator

    Status
    Offline
    Join Date
    Oct 2007
    Posts
    7,164
    Quote Originally Posted by jcs356 View Post
    If you want a decent CEO to run your company, you need to pay a competitive salary. Whilst these numbers might be telephone numbers to the majority of the population, they are run of the mill for a CEO.

    OK, 82% of the company is in public ownership, but I'd rather have the bank run by someone who knows what they are doing than dragging someone in off the street for £100k and expect them to do it.
    The only challenge I'd argue to them getting paid quite so well is that these corporate figure heads might have to make a few large decisions (e.g. clicking a button to say yay or nay), but the vast majority of the effort, work or research is undertaken by consultants or staff.

    Then usually these companies have a hush-hush paid up sponsor in the House of Lords who do a days 'consultancy' a month on the board and then support the process of oiling the wheels within Govt to make sure these companies are largely protected and looked after, so it's all basically lunches, a bit of golf and a few stakeholder meets. A rather comfortable self perpetuating model.

    What's ironic is some of these people fail to turn round one business, then get recruited to take on another because of the boys club! My big issue is they get paid regarless of success OR failure. That said, the saying 'Pay peanuts get monkeys' wasn't invented for no good reason!
    Last edited by warren_S5; 27th January 2012 at 10:26.
    Audi S5 3.0V6T Coupe Black Edition

  16. #15
    Sandra's Avatar
    MODERATOR

    Status
    Offline
    Join Date
    Sep 2010
    Location
    Scotland
    Posts
    15,483
    Warren, you are a very astute young man, I couldnt have put that better if I tried.

  17. #16
    s3dave's Avatar
    TFSI Hybrid

    Status
    Offline
    Join Date
    Nov 2009
    Location
    west yorks
    Posts
    10,121
    Lets not forget the guy in question is virtually a public servant and gets 80% more than the prime minister??

  18. #17
    warren_S5's Avatar
    Moderator

    Status
    Offline
    Join Date
    Oct 2007
    Posts
    7,164
    Quote Originally Posted by Sandra View Post
    Warren, you are a very astute young man, I couldnt have put that better if I tried.
    Unfortunately, whilst I'd love to agree with your kind statement:

    1) If I go to the doctors they spend more time checking my arse rather than my balls, hence I have accepted I am now old, not young!! (soon be 40!)
    2) I get to see a lot of this stuff first hand as I'm an organisational development consultant and I've worked in quite few FTSE 100's in the last 8 years doing OD work, so whilst it's only a view I get to see some of it 'happening' day to day.
    Audi S5 3.0V6T Coupe Black Edition

  19. #18
    Sandra's Avatar
    MODERATOR

    Status
    Offline
    Join Date
    Sep 2010
    Location
    Scotland
    Posts
    15,483
    Quote Originally Posted by warren_cox View Post
    Unfortunately, whilst I'd love to agree with your kind statement:

    1) If I go to the doctors they spend more time checking my arse rather than my balls, hence I have accepted I am now old, not young!! (soon be 40!)
    2) I get to see a lot of this stuff first hand as I'm an organisational development consultant and I've worked in quite few FTSE 100's in the last 8 years doing OD work, so whilst it's only a view I get to see some of it 'happening' day to day.
    Soon to be 40 is not old Warren. I must admit though, statement No. 1 made me proper laugh though.

  20. #19
    a3tdi2001's Avatar
    2nd Gear

    Status
    Offline
    Join Date
    Jan 2010
    Posts
    437
    It's absurd. When the banking crisis hit I remember it being quoted that you had to pay bankers high salaries in order to recruit the "right kind of people". Well they paid the high salaries, and are still doing so, and have recruited exactly the wrong kind of people.
    On the subject of monkeys; if the banking system had been regulated in any way whatsoever, and I'm not talking about the disgrace that is the FSA, then you could argue that a bunch of regulated monkeys would have made a better job of running the banking sector than a bunch of unregulated gamblers.

  21. #20
    jojo's Avatar
    S3 Drift King!

    Status
    Online
    Join Date
    Sep 2003
    Location
    Solihull, Midlands
    Posts
    25,560
    This is peanuts compared to what footballers earn! lol



    99' Audi S3(APY) - Brilliant Black Click>>>Going Sideways vid!
    You've got to have a laugh! For Sale:LCR Brakes - £400



  22. #21
    warren_S5's Avatar
    Moderator

    Status
    Offline
    Join Date
    Oct 2007
    Posts
    7,164
    Quote Originally Posted by jojo View Post
    This is peanuts compared to what footballers earn! lol
    At least those clowns can kick a bag of air and provide tabloid entertainment with their dimwitted actions!
    Audi S5 3.0V6T Coupe Black Edition

  23. #22
    Alex C's Avatar
    6th Gear

    Status
    Offline
    Join Date
    Jan 2010
    Location
    Lizard, Cornwall
    Posts
    2,602
    Quote Originally Posted by warren_cox View Post
    Unfortunately, whilst I'd love to agree with your kind statement:

    1) If I go to the doctors they spend more time checking my arse rather than my balls, hence I have accepted I am now old, not young!! (soon be 40!)

    ...
    Alex S3 AMK
    Bilstein B8s, H&R Springs, Neuspeed ARBs, Genuine 18" BBS LMs & LCR Brembos

  24. #23
    jdp1962's Avatar
    Grumpy Old Man

    Status
    Online
    Join Date
    May 2003
    Location
    Cruising on a mountain of torque
    Posts
    5,679
    This situation has been coming for a long time. When Hester was appointed to run RBS, he was offered a contract including clauses that provided for him to receive bonuses if certain criteria were met. If those criteria have been met, either in full or in part, then he is contractually entitled to receive the bonuses, again either fully or in part. Whether it would be "the decent thing" for him to decline the bonus is an entirely separate debate from whether he is entitled to receive it. If it not awarded to him, then the government will be in breach of contract. However unpalateable that might be, the current goverrnment knows that no good can come form knowingly breaching an employment contract.

    Now then, hands up, who can remember which Prime Minister and Chancellor offered him this contract ?
    A4 3.0TDi SE Quattro Auto. Factory-fit: RNS-E/bluetooth; F/R parking sensors; full leather/heated front seats; cruise. Retrofit: Remap; Eibach 30mm lowering springs, RS4 RARB; MTEC drilled/grooved discs; 18" RS4 alloys; VW fan washers; Kinetic Digitizor DAB; Blackvue DR380 camera; front armrest; ambient lighting; white LED lights; autodim mirror; Cupra splitter; S-Line door blades; tints; UK pressed plates; MFSW; SDS; TPMS; LED Taillights and DRLs. RS aluminium pedals


  25. #24
    StateOfPlay's Avatar
    6th Gear

    Status
    Offline
    Join Date
    Nov 2009
    Posts
    2,230
    This guy has saved RBS a mountain of money by cutting 30000 jobs. He deserves a bonus for being able to lay off so many staff and still live with himself.

    This man has been unable to pay back any of the money that RBS received from the tax payer, he deserves a bonus for being able to arrange to take a bonus, whilst owing us all so much money.

    This charming man deserves a bonus for getting himself such a lucrative contract from his old chum Gordon.

    The thing is this. The politicians and financial commentators say you have to pay top dollar to get someone who is good enough to return the Bank to profit and get our money back. Of course, that is ********, it needs the economy to recover to get our money back. Mr Hester may well have been born with a letter S scarred into his chest, but the greedy ****er isn't going to be able to pay back our money unless the economy booms!

    I reckon you could put Basil Brush in charge of RBS, and it will still perform as **** as it is now.
    Live your life as if nobody is watching you.

 

 

Similar Threads

  1. ADI 2011 bonus features. starring: Westy!
    By superkarl in forum Major UK Events
    Replies: 36
    Last Post: 11th October 2011, 09:59
  2. no claims bonus - named driver
    By Audi-Power in forum General Chat
    Replies: 20
    Last Post: 10th August 2011, 00:13
  3. Do you expect a christmas bonus anymore?
    By AudiFLK in forum General Chat
    Replies: 22
    Last Post: 25th December 2009, 14:02
  4. Bonus features for RNS-E?
    By Steve_B in forum Satellite Navigation
    Replies: 6
    Last Post: 13th August 2009, 16:18
  5. Bonus Pall Competition . . . Help!
    By SkimpyBeardy in forum General Chat
    Replies: 19
    Last Post: 26th February 2009, 20:16

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO

Garage Plus, Vendor Tools vBulletin Plugins by Drive Thru Online, Inc.

Content Relevant URLs by vBSEO