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RBS directors: Pay bonus or we quit - MSN News - MSN UK


Good , do they think they are not replaceable

SunnySideUp

These Bankers do my head in................

It's about time we called their bluff - let's see how many ACTUALLY can get better jobs elsewhere!!

Replace them with new fresh keen talent! ANYONE can make money in a rising market - they failed when they had to save themselves in the downturn!

Investments and the skill involved is probably the most hyped of 'skills' in the world - feathering their own nests by gambling with other peoples money!! No skill needed whatsoever!

Resign ... see if we care YOU GREEDY FAT *********'s

alcazar

iTrader: (2)

Note to weak as p*ss Lying Labour government:

CALL THEIR BLUFF!!

You will have the support of most of the British Public if you do

SunnySideUp

Most of them are Tory voters after all ................ KICK THEM LABOUR!!!!!!

Tidgy

have to say, they got us so deep in the ****e that is it a bad thing if they go? lol

FlightMan

Bankers will drive the Britain out of the recession. They deserve and are entitled to the rewards their hard work and commitment brings. Not paying them these deserved bonus' will result in them leaving for foreign countries and Britain suffering as a result. It's common sense.

So said a leading banker, pausing to lift his nose from the trough.








W@nkers all of them.

This guy's a prime example.

David Buik | guardian.co.uk

hodgy0_2

Game over I’m afraid

Finance Industry 5 Government 0

there is neither the will nor inclination to take on the bankers (banking)

whether it is a good idea is irrelevant

nothing party political, just a fact - as far as I see it (and have said time and again on previous posts)

Jaybird-UK

We do not negotiate with terrorists - we should not negotiate with bankers!

Call their bluff, watch them cry over christmas when they realise there arnt jobs for them

[-(o)-]

iTrader: (1)

When are this supposedly intelligent and highly qualified lot going to wind their necks in and stop whinging?

They (partly) created a situation that has seen a lot of people lose their jobs and more. I'd feel uncomfortable taking home a bonus if anyone in my organisation, or as a result of my actions, was made redundant. Plus a large number of them are now in effect Civil Servants thanks to the genius of Gordon and Alistair

So as a RBS customer and in effect shareholder, I've got this to say to them: SHUT UP AND TAKE IT LIKE THE REST OF US


They'll get their bonuses again in a year or two...

r32

These guys cant be very good as they drove the Bank to the brink. In other industries they would have been replaced any way.

Seeing as the tax payer owns it, perhaps we should have some say, lets get a few ordinary people on the board.

Moley

iTrader: (9)

That's exactly what i was thinking

urban

iTrader: (1)

Yes - call their bluff.

I want to see the government stamp some ******* authority on these excessive bonus payments

As we own them, then we should also get to see how these bonus payments are actually made up

EddScott

The argument is that most will have contract saying you will get XYZ bonus - to then back out of that contract would make the bank open to litigation. Yes the contracts were badly written but if the bonus isn't performance related then tough poop, pay up.

They also say, if we don't pay bonuses to the top players, we won't get the quality employees. There is some truth in that - Company A will give you £££ bonus irrespective if you mess up or company B will pay only if you do good.

They should have been allowed to fail in the first place.

Jaybird-UK

seen outside NY bank at the start of the crisis

dpb

Let them try and find a job at a bank that has to turn a profit and stay in buisness

r32

You can give three months notice of a change in contract.

Also, lets just think about this. I work for a company thats done so badly it would have gone bust but for taxpayers bail out. So if I resign and go look for another job, I really havent got much to put on my CV have I????????

TelBoy

Not true on the first bit, Ed, very few guaranteed bonuses at RBS.

Letting the British banking system collapse is SO easy to say, so so easy. But by Christ you'd all wish it hadn't happened if that had been allowed to occur. It's a pub headline only. The UK would have been plunged into a FAR worse mire than the current recession.

The point about retaining top staff is semi-valid. RBS still rely on their investment banking for a lot of their income. Take away that income stream and all of a sudden the debt that you and i own becomes impossible to repay. Also a crap situation.

Although i'm one of the trough dwellers, it still remains a fact that only a tiny section of the banking industry caused this whole mess. I know that's not really sexy, the public wants to tar all bankers with the same brush, but it just wasn't like that. And trust me, the new regulations we're only starting to see the beginning of will ensure you don't see anything similar in your lifetimes.

I'm not making excuses, i'm not trying to justify things to those who don't want to listen, i'm just telling you that it's not quite the black and white "sack them all" situation the media would love it to be. In my opinion, of course.

Devildog

Would have been funnier if they'd manage to spell ****ers correctly the first time

TelBoy

They did, DD, the NYPD made them black out the K so it wasn't a "proper" swear word

Trout

iTrader: (1)

A couple of points of order.

The non-executive directors threatening to resign are reasonably well paid, but do not receive mega-pay or bonuses. A number of them are new to RBS and have been brought in to help turn the bank around. if they leave then they are very likely to find positions on other boards in other industries.

The part of the bank that wants to pay bonuses, the Investment Bank, made £6bn profit this year, 25% of that is to be awarded as bonuses both in line with contracts and market value.

If the investment bank is not allowed to do this it will have to downsize significantly, if not close. If this happens then everyone posting on this thread, this BBS and indeed every tax payer in this country will be a lot more worse off than the £1.5bn of profit that RBS needs to pay in bonus.

Easy target, tabloid headline fodder, but the alternative commerical reality is to look into the Abyss.

The investment bank at RBS, as it has such strong profits, represents around 60-70% of the capital value of the bank that we own. Without it we are screwed.

The bottom line is that if RBS are not allowed to pay bonuses then the Board cannot act in the shareholders best interests which they are required to, and therefore that have no choice but to resign.

Devildog

Come on Dave, its Scoobynet. Don't ever let the facts get in the way of a good lynching

[-(o)-]

iTrader: (1)

Theres a lot more to this than just the bankers (who as I understand it where sold AAA investments that were infact similar in constitution to a doner kebab). The government has a massive amount to answer for and clearly has an even worse grasp of finance than I do. And what about the borrowing fest that everyone got stuck into over the past 12 years? It was just a matter of time until the Chinese owned us...

But to now demand bonuses shows an arrogance that is frankly unbelieveable.

TelBoy

[-(o)-], have you read ALL the answers on your thread and STILL come up with that last statement?


If so, it proves beyond doubt that this story is falling on deaf ears. There's none so blind as those who cannot see, as they say.

Devildog

What is frankly unbelievable is that despite a very clear and conscise explanation, the reality still remains lost on some people

Devildog

Ph, and to add to David's post, there is an argument that if they are forced to resign, they will be irreplaceable, as no one of sufficient merit will accept a job where they are unable to comply with their most basic of fudiciary duties as a director.

TelBoy

Fiduciary



Just for Daz

Luminous

iTrader: (3)

Whole culture needs changing. There should be no need to pay that level of bonus. A lot of these people are overvalued. I can think of a lot of people who work damn hard and don't even get £20k per year, why should this let get so much just because of the industry they work in.

Its our money they are meddling with. Why should we have to bail them out at our cost, for the to reward themselves with huge bonuses? System needs changing.

Devildog

Christ, and I should really know better

I think i'm becoming keyboard dyslexic

TelBoy

But let me ask you a question. If you made your company let's say £10,000,000 in bottom line profit in a year, what would you be happy to be compensated?

£35,000 ?

Or what's your number?

[-(o)-]

iTrader: (1)

TelBoy - what I'm trying to say is that we're all to blame. Just some people seem to be unwilling to accept that responsibility.