del Missier pay off

[crankedup]

Almost 9 million pounds, he must feel quite hard done by! And -

[Eric Mc]

Times is tuff.

[whoami]

He can use it to buy snout when he's inside.

[anonymous-user]

Cue those who will insist he is worth it............

And they say crime doesn't pay.

[ukwill]

I think it's outrageous that an employee's contractual obligations are being adhered to.

[Eric Mc]

I always wonder where the shareholders were in all these decisions about remuneration and package setting.

[Countdown]

ukwill said:

I think it's outrageous that an employee's contractual obligations are being adhered to.

You'd think there would be a clause about no payoffs for incompetence.

[Elroy Blue]

anonymous said:

[redacted]

What, you mean like the Government did with my pension?

[Du1point8]

Elroy Blue said:

anonymous said:

[redacted]

What, you mean like the Government did with my pension?

How so? Did they remove all you worked for so far or stop it from X date?

Or you a lucky private pension owner that GB raided to pay for stuff?

[johnfm]

REALIST123 said:

Cue those who will insist he is worth it............

And they say crime doesn't pay.

What crime?

[ukwill]

Du1point8 said:

How so? Did they remove all you worked for so far or stop it from X date?

Or you a lucky private pension owner that GB raided to pay for stuff?

Can you believe they had the audacity to suggest that PS workers should work slightly longer, and pay a bit more in? Frankly, I think it's disgusting!

Now gimme that big fat employer contribution. I'm worth it.

[Eric Mc]

johnfm said:

REALIST123 said:

Cue those who will insist he is worth it............

And they say crime doesn't pay.

What crime?

The crime of reckless trading perhaps?

It is notoriously difficult to prove, of course, but I'd like to see the CPS have a go at some of the top people in these institutions who do seem to have managed to run their organisations into the ground and then been paid handsomely for their efforts.

[Du1point8]

ukwill said:

Du1point8 said:

How so? Did they remove all you worked for so far or stop it from X date?

Or you a lucky private pension owner that GB raided to pay for stuff?

Can you believe they had the audacity to suggest that PS workers should work slightly longer, and pay a bit more in? Frankly, I think it's disgusting!

Now gimme that big fat employer contribution. I'm worth it.

fk no.... What bastids...

Maybe government can start stripping public sector people of all their pensions, getting them to pay back all bonuses when the public sector fks something up... Wonder what would happen then?

Strike and demand it doesn't happen?

[fido]

I see the usual jealous lefties appearing. Good on him. I hope he enjoys his contractual payments for 2011.

[johnfm]

Eric Mc said:

johnfm said:

REALIST123 said:

Cue those who will insist he is worth it............

And they say crime doesn't pay.

What crime?

The crime of reckless trading perhaps?

It is notoriously difficult to prove, of course, but I'd like to see the CPS have a go at some of the top people in these institutions who do seem to have managed to run their organisations into the ground and then been paid handsomely for their efforts.

Don't think such a charge exists in the UK. Maybe Fraudulent trading under S993 CA 2006?

s993 CA 2006 said:

Offence of fraudulent trading

(1)If any business of a company is carried on with intent to defraud creditors of the company or creditors of any other person, or for any fraudulent purpose, every person who is knowingly a party to the carrying on of the business in that manner commits an offence.

(2)This applies whether or not the company has been, or is in the course of being, wound up.

(3)A person guilty of an offence under this section is liable—

(a)on conviction on indictment, to imprisonment for a term not exceeding ten years or a fine (or both);

(b)on summary conviction—

(i)in England and Wales, to imprisonment for a term not exceeding twelve months or a fine not exceeding the statutory maximum (or both);

(ii)in Scotland or Northern Ireland, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum (or both).

Think you'd have a hard time proving intent Eric.

[Eric Mc]

johnfm said:

Think you'd have a hard time proving intent Eric.

True - indeed, most attempts to proscute under these types of charges tend to fail on that score. As I said, making fraud charges or wrongful trading charges stick is extremely difficult.

The ex CEO of Anglo Irish has been arrested in Ireland on fraud charges but his misdemeanours seem to be an order of magnitude worse than what could be levied at the British bank CEOs.

[Eric Mc]

But those screwups usually mean profits for people like BAe - and bonuses for their execs.

Where do we stop?

[don4l]

Elroy Blue said:

anonymous said:

[redacted]

What, you mean like the Government did with my pension?

If Barclays had no money due to bankruptcy, then he wouldn't be getting his payout.


Don
--

[Eric Mc]

Based on their profit announcement this morning - I don't think bankruptcy is in the offing.

Although you never know with bank "profits" - some of them may be a bt ephemeral. After all, Enron were hugely "profitable", right up to the moment they went bust.

[ringram]

Its amazing what fiscal rent extraction can do to your net worth.

Who cares if its moral or not, right tonks!?