Politics The Politics thread

gethinceri

Daniil Kvyat Fan. Alfa Romeo Fan.
Contributor
Yes, the Lords is an interesting jumble of characters. It would help to have a list of why they're there e.g.
Military
Hereditary
Clergy
People's Peer
Labour appointee
Conservative appointee
etc.
 

Jen

Here be dragons.
Contributor
They are the mayhem faction, I think. It's always nice to have a second opinion but like most, the Commons will go with their first idea - so good that we only give THOL expenses!
 

Jen

Here be dragons.
Contributor
I have not earned that amount of money (£963k) since I have been working - as I am now 61 that's quite depressing - obviously not in the right industry or too nice!
 

FB

Not my cup of cake
Valued Member
I type this quote with some trepidation but I won't paraphrase this time "All animals are equal but some are more equal than others"

Nice that it rounded down to less than a million given that this was what "call me Dave" asked for. Given Hester's record so far on the share price he should be able to reduce the value of that bonus by another 30% in the next year.
 

Brogan

Leg end
Staff member
Nice that it rounded down to less than a million given that this was what "call me Dave" asked for.
Let's not forget which party it was that negotiated his contract ;)

If the government had vetoed the bonuses, the whole board was going to resign (apparently). Not to mention the potential for them to sue for breach of contract.
I can just imagine the flak Cameron would have taken if that had happened.

Rock <-> hard place.
 

Galahad

Not a Moderator
Valued Member
I don't think either party can claim any credit for this mess.

Surely there must be someone else of equal "talent" willing to struggle by on just the £1.2m salary, though?
 

Brogan

Leg end
Staff member
Agreed.

Apparently not though, everything I've read seems to indicate those who are capable of doing the job aren't prepared to work for such a "low" salary, and they don't want to harm their future salary prospects by accepting less than the market rate.

Of course, quite why the market rate is that high is another issue altogether.
 

Galahad

Not a Moderator
Valued Member
And even at the cost of public fury a la Fred Goodwin?

Just because you can't put a monetary value on doing the right thing, doesn't mean it is a worthless thing to do.
 

FB

Not my cup of cake
Valued Member
Listening to Today on R4 the contract doesn't have a guaranteed bonus, it's discretionary and in the gift of the companies remuneration committee. But, given that they are probably RBS employees, they know which side their bread is buttered now don't they.

At some point this all has to stop. Giving someone a bonus for losing 30% of a companies share value is simply madness, as are the constant hikes in board room pay. I've heard two different figures bandied about that the CEO's of the FTSE 100 have had between a 12 and 49% pay rise. Which ever it is it's a bloody site more than they are giving their staff so how can they justify it? Greed, upon greed, upon greed.
 

Jen

Here be dragons.
Contributor
Of course, if Mr Hester doesn't get it right, he will destroy his own bonus, as he is not allowed to sell his shares for some years. In the interim, if he does get it right and the share capital increases significantly, then it is an incentive for him to do his job and increase the fortunes of RBS.
 
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