Guest sibon Posted January 30, 2012 Share Posted January 30, 2012 The Dutch appear to have found a way. We appear to be finding a way too. Well done to the Labour Party, for finally growing a pair and forcing this issue. Link to comment Share on other sites More sharing options...
taxman Posted January 30, 2012 Author Share Posted January 30, 2012 We appear to be finding a way too. Well done to the Labour Party, for finally growing a pair and forcing this issue. It seems the prospect of the debate and vote in the Commons has had some affect on Mr Hestor as he has graciously declined to accept this particular bonus. I believe he has another in the pipeline though. Link to comment Share on other sites More sharing options...
llamatron Posted January 30, 2012 Share Posted January 30, 2012 It sounds like he is doing a good job and therefore maybe deserves a bonus (not saying anywhere near that amount) but I don't understand why any bonus would be included in a contract. Its a bonus, surely you get it if the company does well and you have worked harder than required? How are they legally required to pay them? Link to comment Share on other sites More sharing options...
mapleboy Posted January 30, 2012 Share Posted January 30, 2012 I think I half heard on the beeb this morning someone saying that it was wrong of the government to be meddling in the way banks pay bonuses. Something to do with it not being the governments business how the private sector operate? Leaving aside the fact that RBS is effectively public property at the moment but I don't recall them saying any such thing last year when the government was bailing the incompetent ****s out. But of course, these people deserve such high salaries, otherwise they'll take their skills abroad. I hope the useless scum have a nice journey. Or maybe that's just me... Link to comment Share on other sites More sharing options...
MrSmith Posted January 30, 2012 Share Posted January 30, 2012 It sounds like he is doing a good job and therefore maybe deserves a bonus (not saying anywhere near that amount) but I don't understand why any bonus would be included in a contract. Its a bonus, surely you get it if the company does well and you have worked harder than required? How are they legally required to pay them? I think it was written into the contract that labour set up, if the bank does well he gets a bonus in the form of shares, but if it then does badly they can claw it back. Paying the bonus in shares also gives him an incentive to increase the performance of the bank, and we end up doing better when it is sold. Link to comment Share on other sites More sharing options...
Fudbeer Posted January 30, 2012 Share Posted January 30, 2012 http://www.bbc.co.uk/news/uk-16783571 Link to comment Share on other sites More sharing options...
truman Posted January 30, 2012 Share Posted January 30, 2012 I think I half heard on the beeb this morning someone saying that it was wrong of the government to be meddling in the way banks pay bonuses. Something to do with it not being the governments business how the private sector operate? Leaving aside the fact that RBS is effectively public property at the moment but I don't recall them saying any such thing last year when the government was bailing the incompetent ****s out. But of course, these people deserve such high salaries, otherwise they'll take their skills abroad. I hope the useless scum have a nice journey. Or maybe that's just me... Last Year? Weren't they bailed out 2 or 3 years ago..? Under Labour? Link to comment Share on other sites More sharing options...
Sausage Dog Posted January 30, 2012 Share Posted January 30, 2012 Regardless of the rights and wrongs of this case, and who's to blame, I simply don't undestand the concept of bonuses. My employer gives me a job, and says this is what you get paid to do this job. I do the job and get paid. If I don't do the job I should get the sack. So why give a bonus for just doing your job? Link to comment Share on other sites More sharing options...
truman Posted January 30, 2012 Share Posted January 30, 2012 Regardless of the rights and wrongs of this case, and who's to blame, I simply don't undestand the concept of bonuses. My employer gives me a job, and says this is what you get paid to do this job. I do the job and get paid. If I don't do the job I should get the sack. So why give a bonus for just doing your job? So why do salesmen get commission...? Same thing different name.. Link to comment Share on other sites More sharing options...
purdy Posted January 30, 2012 Share Posted January 30, 2012 Well it seems like he has now bowed to pressure and will refuse his bonus. I'm not sure that this is necessarily a cause for celebration except for the jealous types. I presume he took the job on the basis of the remuneration package put to him at the time he was brought in to turn the bank around on behalf of us shareholders. If he now decides his pay isn't what he was promised he may well simply clear off to another institution that won't welsh on the deal We may have saved £1million but that's hardly a bargain if we lose £5 billion as a result. Link to comment Share on other sites More sharing options...
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