Another greedy banker on the gravy train.

[JFKvsNixon]

This is the same Co-OP that lost a ton of money recently, but still decided to keep pouring money into the pockets to 'further their objectives'??

 

It's the same Co-op that made a profit of £124m in 2014.

[sgtkate]

I've just read that Hazel Blears, who stood down as an MP a few days ago is to become a director of the Co-op Bank.

Her salary is said to be £60,000 for which "Ms Blears will be expected to work a minimum of one to two days a month".

 

When I first read the headline I was thinking 'good on her' for taking such a decently (i.e. lowly) paid job! Then I saw the working conditions and swore at her.

[geared]

It's the same Co-op that made a profit of £124m in 2014.

 

and lost £2.5bn the year before??

[L00b]

It's the same Co-op that made a profit of £124m in 2014.

Was that before or after the Co-op Bank's losses of £264.2m in 2014?

[InigoMontoya]

It's the same Co-op that made a profit of £124m in 2014.

 

And lost a fortune before that. (Mainly thanks to its banking arm and the acquisition of the Britannia)

 

Most of last years profit came from disposals of property and of the pharmacy business.

 

2017 before we get a dividend again, apparently? Whose idea was it to get rid of the "dividend at point of sale" - i.e. the stamps for us members.

 

The start of the slippery slope!

 

(That and closing all the departmental stores they used to operate)

[JFKvsNixon]

Was that before or after the Co-op Bank's losses of £264.2m in 2014?

 

Hey, I'm just quoting the BBC website. I haven't got the company's accounts at hand for the moment.

 

The Manchester-based Co-op is the UK's largest mutually-owned organisation with more than eight million members who share in the profits of the business.

It made a profit of £124m in 2014, compared with a loss of £255m the previous year.

[Bigthumb]

When I first read the headline I was thinking 'good on her' for taking such a decently (i.e. lowly) paid job! Then I saw the working conditions and swore at her.

 

Me to, but then I thought hold on this is the same coop that hasn't paid my divi for the last couple of years. Then you read that the bank has posted huge losses, is managed by drug adicts without banking experience and this had dragged the whole group into loss.

Perhaps the reason why there is no money to pay the divi to their 8 million shareholders is because they pay unskilled folk who should be on minimum wage 5 grand a month for working less than a dozen hours.

[geared]

Hey, I'm just quoting the BBC website. I haven't got the company's accounts at hand for the moment.

 

I'm not sure what figures the BBC are quoting there as the Co-op bank lost the group 2.5 billion quid in 2013, so how the BBC are figuring they made a £225m profit in the same year is beyond me :huh::huh::huh:

[JFKvsNixon]

I'm not sure what figures the BBC are quoting there as the Co-op bank lost the group 2.5 billion quid in 2013, so how the BBC are figuring they made a £225m profit in the same year is beyond me :huh::huh::huh:

 

The BBC have quoted different figures: A profit of £124m in 2014, a loss of £255m in 2013.

[L00b]

Hey, I'm just quoting the BBC website.

So was I (if you clicked my linky ).

 

Be all that as it may, and with reference to the OP. Blears is not a 'banker' (anymore than e.g. Co-op Bank's head of legal, head of HR, etc.) and her appointment is not 'a gravy train'. It's work to be done by a company director, with a value decided for and paid by that company, her employer.

 

Alternatively, I suggest we contrast that appointment with e.g. how much 'work' pro footballers, pro golfers and whatnot are doing and what 'responsibilities' they carry, when they are paid (and some turning down) £100k a week. Why aren't their gigs ever called 'gravy trains' as well, then?

 

Next stormy teacup.

Edited May 21, 2015 by L00b