FabSwingers.com forum: £963,000

By (user no longer on site) OP
over a year ago

This is the bonus given to the boss of RBS "for the good job he did in turning the bank around in the last 12 months"

Payable in shares so the amount is likely to rise as the share price improves.

should he refuse the bonus? and what would you do with that money.

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By (user no longer on site)
over a year ago

Yes it is a lot of money but as far I know I'm sure he has to pay tax and ni on that which is about 52% of the bonus and if he sells the shares he will have to pay a gains tax of 18% which in total is over 500K of the 963K hehasto give right back

Suppose also paying him the bonus in shares will keep him on his toes as if the bank does well the shares will go up

And the fact that the bonus is in his contract

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By *abrina59TV/TS
over a year ago

moved to cuckold land

Agree cant blame him taking what he was promised in his contract

should look to who set his contract as the Bank would have been under Govt control when he was appointed to turn it round

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By (user no longer on site) OP
over a year ago

I thought the reason he was paid in shares was because its not taxable. He will have to pay capital gains once sold.

However the point is really he's taking a huge bonus from an organisation that is still state owned and not in the greatest position.

The whole bonus thing is crazy.

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By *ouple in LancashireCouple
over a year ago

in Lancashire

surely any 'bonus' is only earned when the company is in profit..

he still picks up a fair wedge for 'doing his job'..

bit early in the story of RBS for anyone to take a bonus..

lot of people lost their jobs who worked for them, and others are out of pocket still..

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By (user no longer on site)
over a year ago

The true going rate for his position would give him a salary far higher than he's currently getting but there would be a public outcry if he got that, so they make it up to him in shares, which he can pension if he wants to.

There is a fine line between someone like Fred Goodwin picking up a fortune for fucking a bank up, and someone like Stephen Hester who has worked tirelessly to rebuild a shattered corporation.

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By *eavenNhellCouple
over a year ago

carrbrook stalybridge

meanwhile the hard working branch staff of RBS have had there "bonus " cut !

sauce for the goose is sauce for the gander ?

the rich get rich and the poor get poorer

but remember where all in this together !

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By (user no longer on site)
over a year ago

Was he not going to get two times this put had it cut in half .. to save money .. Was saying about it on Tv news .

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By (user no longer on site)
over a year ago

At first I was like, 'what the fuck' about this and comes across as the bankers looking after themselves yet again.

However, the bank is 80% (ish) publicly owned. At some point, we want shot of this and get the £45Bn (thats 45 thousand million) back for it that we paid.

The only way to do this is to get the bank back on track and heading into the right direction. It does seem that the boss is doing that, although slowly. He didnt meet all his targets but has made good inroads to improvment.

So, £900,000 is a small price to pay, compared to the £45,000,000,000 that we want back when we come to sell the bank on.

Steve

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By (user no longer on site) OP
over a year ago

But does anyone deserve nearly £1m as a bonus? Especially when he is top of an organisation making people redundant and stopping bonuses being paid elsewhere.

His bonus could be used to reward front line staff, who after all are the ones restoring public faith.

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By (user no longer on site)
over a year ago

"But does anyone deserve nearly £1m as a bonus? Especially when he is top of an organisation making people redundant and stopping bonuses being paid elsewhere.

His bonus could be used to reward front line staff, who after all are the ones restoring public faith. "

Without the very best captains of industry we would be in a much worse situation. He was appointed at boss of RBS to turn that bank around, and it seems he is achieving that under very close scrutiny from the govt and the media, which in turn is fed to the public. I wouldn't want to work under that sort of intense pressure but if they guy is managing to do it and turn RBS around then he's worth every penny of £1.2m salary and almost £1m bonus.

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By *luespartanMan
over a year ago

crawley

I assume that the shares will only go up in value in time so he is in for a lot more, very nice if you can get it.

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By (user no longer on site)
over a year ago

"I assume that the shares will only go up in value in time so he is in for a lot more, very nice if you can get it."

If the shares go up it will mean the bank is in a better position than it is now, and that will be down to him doing his job. Doesn't that seem fair enough?

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By (user no longer on site)
over a year ago

he has handed it back according to lunch time news

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By (user no longer on site)
over a year ago

"This is the bonus given to the boss of RBS "for the good job he did in turning the bank around in the last 12 months"

Payable in shares so the amount is likely to rise as the share price improves.

should he refuse the bonus? and what would you do with that money. "

Should never have been offer it by our PM. Public service workers pay frozen again for another period, why is he and his ilk an exception?

There has been a conspicuous failure to answer this question.

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By (user no longer on site)
over a year ago

It's pocket money compared to what some footballers are paid and all they do is play football !

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By *ilf61Man
over a year ago

Taunton

It does say in the lunchtime news reports that he has said he will not take the bonus, however that still has to be ratified at the company AGM in April. The current govt have said they cannot vote against it as it was agreed in his contract by the previous govt, but I agree it seems totally unfair that the branch staff are having wages and salaries frozen or cut, and are suffering redundancies, etc but the bosses are getting huge bonuses. The rich get richer and the poor get poorer again.

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By *am sampsonMan
over a year ago

cwmbran

"It's pocket money compared to what some footballers are paid and all they do is play football !"

No the bonus alone is equivelant to what most footballers get paid and then only if your in the premiership

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By (user no longer on site)
over a year ago

"It does say in the lunchtime news reports that he has said he will not take the bonus, however that still has to be ratified at the company AGM in April. The current govt have said they cannot vote against it as it was agreed in his contract by the previous govt, but I agree it seems totally unfair that the branch staff are having wages and salaries frozen or cut, and are suffering redundancies, etc but the bosses are getting huge bonuses. The rich get richer and the poor get poorer again."

Well the Govnt is a fool then, if it did not re_iew this before wading in with our hard earned tax money. Or not?

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By (user no longer on site)
over a year ago

[Removed by poster at 28/01/12 14:32:15]

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By (user no longer on site)
over a year ago

He does not pay money on this bonus because it is in shares (which is considered capital).

When (if) he sells it, he will only pay tax on the gain he makes in the change of value of this capital (ie if he sells for £2 million he only pays CGT on the £1 million gain and this tax is much MUCH lower than income tax).

Scum the lot of them.

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By *layfullsamMan
over a year ago

Solihull

"It's pocket money compared to what some footballers are paid and all they do is play football !"
never understood this argument, when there kids they play for the love of the game and if someone wants to give them huge ammounts of money when they make it fair play to them, If my young lad makes it and gets rich beyond his dreams for doing something he loves then fair play to him

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By (user no longer on site)
over a year ago

"It's pocket money compared to what some footballers are paid and all they do is play football ! never understood this argument, when there kids they play for the love of the game and if someone wants to give them huge ammounts of money when they make it fair play to them, If my young lad makes it and gets rich beyond his dreams for doing something he loves then fair play to him"

aye and footballers etc get paid according to the results of the application of their skills and ability. Not so sure this is the case with this person.

Also large sums have to be paid to aquire the footballers which makes their recruitment a very considered purchase.

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By (user no longer on site)
over a year ago

I think the guy should decline the bonus but I am sick of Labour blaming the government, the Labour government agreed the pay and bonus structure in the first place. They really are all over the place at the moment.

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By (user no longer on site)
over a year ago

"It's pocket money compared to what some footballers are paid and all they do is play football !"

It's less than some of our television personalities get for reading an autocue and strutting across a stage.

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By *abioMan
over a year ago

Newcastle and Gateshead

he isn't now going to take it....

see..... i don't think he would be in this position if any bonus was paid in shares that he had to keep over a certain amount of time....

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By (user no longer on site)
over a year ago

"the Labour government agreed the pay and bonus structure in the first place.

"
the guy forefilled his remit apparently, and turned the bank around...give him every penny he's contractualy due. Changing the rules just for popularitys sake is so weak and typical...governments should think more about the contracts they agree to in the first place..they're just so bloody reckless.

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By (user no longer on site)
over a year ago

The guy appears to be doing his job and getting the bank back in the right direction which ultimately we all get our millions back. If you want the right guy for the job you have to pay the big money. Alternatively we could pay someone minium wage and watch the bank dissapear off the face of the earth costing even more millions and jobs.

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By *histler21Man
over a year ago

Ipswich

"The guy appears to be doing his job and getting the bank back in the right direction which ultimately we all get our millions back. If you want the right guy for the job you have to pay the big money. Alternatively we could pay someone minium wage and watch the bank dissapear off the face of the earth costing even more millions and jobs.

Also can people stop bleating on about the poor 'front line staff'. No one makes people become nurses,fireman,council workers etc.. It's not compulsory. And from first hand experience being a public sector worker my self 'front line staff' dont do to badly!!!!!"
I'm quite happy to be employed to return the bank to profit - and I'll agree not take a bonus of any kind. And if, after a month or so, you think I'm not doing too well - you can sack me. I won't mind in the slightest - as I will have earned at 4-5 years salary in the meantime.

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By (user no longer on site)
over a year ago

Also can people stop bleating on about the poor 'front line staff'. No one makes people become nurses,fireman,council workers etc.. It's not compulsory. And from first hand experience being a public sector worker my self 'front line staff' dont do to badly!!!!!I'm quite happy to be employed to return the bank to profit - and I'll agree not take a bonus of any kind. And if, after a month or so, you think I'm not doing too well - you can sack me. I won't mind in the slightest - as I will have earned at 4-5 years salary in the meantime."

And your point is????

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By (user no longer on site)
over a year ago

But Steve, not one of us is going to see a bean of that repaid cash. Only those at the top will benefit.

The public will be shafted by the lawyers and bankers taking their "legal' share.

You make a very good point, however reality is a cruel master.

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By (user no longer on site)
over a year ago

I don't think most people realise just what a collosus RBS is.

RBS' balance sheet is BIGGER than the entire GDP of the UK, and Stephen Hester has cut it from £2.2trn to £1.4trn and it's still bigger than the GDP of the UK. He has cut some 33,000 jobs in the process and shed £600bn worth of assets and a further £100bn of non-core assets have gone also... All under the magnifying glare of the govt, the media and the public.

Look at what this guy is in charge of:

1,400,000,000,000,000,000

(one point four million million million expressed using the long scale in use in the UK)

..and he's not allowed to have his bonus of:

£963,000

..I'd say he's earned every fookin penny of it having that company to run.

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By (user no longer on site)
over a year ago

Aww gutted when I read this post as I thought it was my starting bid to Shag Camillar wife of Charles lol id have nailed her for far far less but come on guys keep the bids coming in yeah as its all for a good cause ya no lol my cause feck charity right off.

As for RBS na fuck um they wouldnt give ma a loan those bastards so take every penny and run I say and stuff them

But seriously WHO GIVES A FUCK REALLY!! This is fab swingers not fuckin question time!

mmmm question time so come on the ladies who would shag David Dimbley or what ever the frigg his surname is??????

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By (user no longer on site)
over a year ago

"meanwhile the hard working branch staff of RBS have had there "bonus " cut !

sauce for the goose is sauce for the gander ?

the rich get rich and the poor get poorer

but remember where all in this together !"

All in this together! lol!

Yeah, they feed us some bull, don't they?!

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By (user no longer on site)
over a year ago

"Aww gutted when I read this post as I thought it was my starting bid to Shag Camillar wife of Charles lol id have nailed her for far far less but come on guys keep the bids coming in yeah as its all for a good cause ya no lol my cause feck charity right off.

As for RBS na fuck um they wouldnt give ma a loan those bastards so take every penny and run I say and stuff them

But seriously WHO GIVES A FUCK REALLY!! This is fab swingers not fuckin question time!

mmmm question time so come on the ladies who would shag David Dimbley or what ever the frigg his surname is??????"

I'll have you know us ladies are very concerned with the state of the nation! tch

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

Outrageous he has been pressurised to turn down...

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By *he_original_poloWoman
over a year ago

a Primark shoebox in Leicester

"Outrageous he has been pressurised to turn down...

Yep, it is indeed.

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