RBS Boss rewards himself with £7.7m
Discussion
Sky News Article
I'm furious about this. This man and his top dog minions are rewarding themselves on an insulting level.
Did anyone here as a share holder, vote for Hester's reward? No - thought not.
I have to speak out about this as an RBS employee myself - this man has just made hundreds more honest wage staff in my dept lose their jobs to save money and the vast majority of us are not millionaire traders living the good life. There are literally tens of thousands of us little guys in the background working flat out trying to fix this bank and in the end many of us are being told to clear off. "Thanks very much - now clear off".
On the back of the little guys hard work he is virtually giving himself hefty life changing sums of money for a single years "work". Where are these people's morals? Who approved this?
I won't mention the 800+ iPads the tops dogs have ordered for themselves for "business use". Why is the government allowing this?! Simple business rule:
company make good progress and is taking profits - share out part of profits as a bonus to staff. Company is in the red and making no profits and owes every tax payer in UK money = no bonus. simple!
Pay back what you owe first Hester!
I'm furious about this. This man and his top dog minions are rewarding themselves on an insulting level.
Did anyone here as a share holder, vote for Hester's reward? No - thought not.
I have to speak out about this as an RBS employee myself - this man has just made hundreds more honest wage staff in my dept lose their jobs to save money and the vast majority of us are not millionaire traders living the good life. There are literally tens of thousands of us little guys in the background working flat out trying to fix this bank and in the end many of us are being told to clear off. "Thanks very much - now clear off".
On the back of the little guys hard work he is virtually giving himself hefty life changing sums of money for a single years "work". Where are these people's morals? Who approved this?
I won't mention the 800+ iPads the tops dogs have ordered for themselves for "business use". Why is the government allowing this?! Simple business rule:
company make good progress and is taking profits - share out part of profits as a bonus to staff. Company is in the red and making no profits and owes every tax payer in UK money = no bonus. simple!
Pay back what you owe first Hester!
Edited by Anubis on Wednesday 9th March 09:29
boredofmyoldname said:
Wrong forum.
But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
A little harsh non?But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
Given what RBS do for me as a customer (i.e. nothing), I am equally disgusted at the news of this man's 'bonus'.
boredofmyoldname said:
But why do you care?
Because I know so many good people that have been made redundant because of these people. They aren't rich, they're just like you and me working to keep their families with food and a roof over their head. Then they get told to clear off due to budget cuts, literally two weeks ago - and yet suddenly there is money in the pot for a £7.7m bonus!It's morally wrong, thats' why I care...
Anubis said:
boredofmyoldname said:
But why do you care?
Because I know so many good people that have been made redundant because of these people. They aren't rich, they're just like you and me working to keep their families with food and a roof over their head. Then they get told to clear off due to budget cuts, literally two weeks ago - and yet suddenly there is money in the pot for a £7.7m bonus!It's morally wrong, thats' why I care...
Total agreement Anubis....
The boards pay and conditions was agreed by the government when they came on board / last renegotiated it . . . . . . . please toddle off and speak to G.Brown, C/O Out Patients Dept, Mental Health centre, Edinburgh Infirmary and vent your anger at yet another quality contract his government negotiated
boredofmyoldname said:
Wrong forum.
But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
Pratt! But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
Who's jealous of one of the most resented men currently in the UK. We all share a mutual disgust for him and his type. They don't 'earn' multi million pounds every year by 'hard work' as you imply, and if you think so you must be very stupid! Your suggestion that anybody can earn obscene amounts of money through hard work displays a shocking ignorance.
"Mr Hester's 4.5 million shares award will be deferred until 2014 and will only be awarded in full if he meets financial performance targets related to shareholder returns, profit and risk."
So he has not rewarded "himself" £7.7m after all.
Why not read the article you link to before posting misleading information?
So he has not rewarded "himself" £7.7m after all.
Why not read the article you link to before posting misleading information?
doogz said:
If someone offered you a bonus like that, would you turn it down?
If I was in the position the RBS boss is I honestly would forego the bonus if it meant keeping other people in a job even if it was only to keep them 6 months whilst they look for another job, My morals would easily allow me to do that considering he's probably already very wealthy its not going to ruin him financially if he doesn't accept a bonus.However if the company was doing well and jobs were secure i'd happily accept the bonus
ZOLLAR said:
doogz said:
If someone offered you a bonus like that, would you turn it down?
If I was in the position the RBS boss is I honestly would forego the bonus if it meant keeping other people in a job even if it was only to keep them 6 months whilst they look for another job, My morals would easily allow me to do that considering he's probably already very wealthy its not going to ruin him financially if he doesn't accept a bonus.However if the company was doing well and jobs were secure i'd happily accept the bonus
I'm all for earning a decent crust, but this w
ker just takes the biscuit.How he is able to sleep at night knowing that thousands of his employees are struggling to make ends meet is beyond me.
ZOLLAR said:
If I was in the position the RBS boss is I honestly would forego the bonus if it meant keeping other people in a job even if it was only to keep them 6 months whilst they look for another job
And that is why you're not the boss of a bank. You're clearly not qualified or enough of an asshole, coming out with statements like that 
I'm a little shocked by some comments tbh. A case of "meh - who cares?".
You do realise every tax payer in the UK (i.e: you) is entitled to around £1000 worth of shares due to the bailout. Suddenly interested now huh?
The tax payer is a vast majority share holder and share holders approve the payment and bonus structures of senior executives, yet I bet no one here reading this was asked how much the bonuses should be. So who approved the £7.7m bonus? I get a feeling of the boys looking after the boys again.
Don't complain your struggling for a mortgage or loan, etc if you're happy with payments like this being made. You're taking money away from the "loans pot" and putting it into the fat cats pocket.
An no, I wouldn't accept a bonus like this if it meant putting thousands of my staff out of work, thus affecting children and their families lives. I've got morals - unlike a few people here it seems...
You do realise every tax payer in the UK (i.e: you) is entitled to around £1000 worth of shares due to the bailout. Suddenly interested now huh?
The tax payer is a vast majority share holder and share holders approve the payment and bonus structures of senior executives, yet I bet no one here reading this was asked how much the bonuses should be. So who approved the £7.7m bonus? I get a feeling of the boys looking after the boys again.
Don't complain your struggling for a mortgage or loan, etc if you're happy with payments like this being made. You're taking money away from the "loans pot" and putting it into the fat cats pocket.
An no, I wouldn't accept a bonus like this if it meant putting thousands of my staff out of work, thus affecting children and their families lives. I've got morals - unlike a few people here it seems...
While I agree with the sentiment, shareholders do (by proxy) get a say in this.
Correct me if I'm wrong but I was under the impression (for any PLC that subscribes to the combined code) bonuses etc are determined by the Remuneration Committee, the members of which are chosen by the board who in turn are elected by the shareholders.
Now in reality the OP doesn't have any say in it as the institutional shareholders have all the power but fundamentally executive pay is approved by the shareholders.
The RBS boss can't pay himself a big fat bonus just because he feels like it.
ETA link http://www.rbs.com/microsites/gra2007/governance/d...
Correct me if I'm wrong but I was under the impression (for any PLC that subscribes to the combined code) bonuses etc are determined by the Remuneration Committee, the members of which are chosen by the board who in turn are elected by the shareholders.
Now in reality the OP doesn't have any say in it as the institutional shareholders have all the power but fundamentally executive pay is approved by the shareholders.
The RBS boss can't pay himself a big fat bonus just because he feels like it.
ETA link http://www.rbs.com/microsites/gra2007/governance/d...
Edited by waterwonder on Wednesday 9th March 10:02
Great Pretender said:
boredofmyoldname said:
Wrong forum.
But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
A little harsh non?But why do you care?
He is obviously entitled to his bonus, the government have sanctioned it, let it go, work harder instead and you might earn enough to not need to be jealous of others.
Given what RBS do for me as a customer (i.e. nothing), I am equally disgusted at the news of this man's 'bonus'.
I'm just fed up of hearing people moan about the wealthy, and how nasty bankers are and the lefty moaning at cuts. If these people diverted more effort into doing something the world would be a better place.
Whether he deserves it or not isn't for us to decide (Unless you have shares in the bank), I just am fed up of reading bile about things that simply don't affect most of our daily lives.
Edited by boredofmyoldname on Wednesday 9th March 09:59
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