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Re: Pounds down again.
Originally Posted by cricketman
(Post 9873534)
There doesnt have to be a choice between capitalism and communism
Personally I would opt for all salaries to be on a scale of a factor of ten, with the maximum wage being ten times that of the minimum wage. And the deciding on the x2 x3 x4 etc, salaries would cause uproar. But the main thing is I belive resousfulness, gumption, knowlege and get up off your arSe and do it type of people should be rewarded. |
Re: Pounds down again.
Originally Posted by jackytoo
(Post 9873605)
Another view from the Guardian
Veteran City commentator David Buik, of brokers BGC Partners, said: "I think last night's announcement was a very sad day for commercial democracy. Yes the taxpayer/government owns 82% of RBS. If there had been any concern about the democratic process, then UKFI and Treasury should have filled the board with their people rather than commercial appointments under the chairmanship of Sir Philip Hampton. The fact remains that political expediency and public opinion bullied Mr Hester into waiving his justified bonus. There is no doubt that Labour and the Lib Dems would have won that vote. It may not have necessitated RBS to change its mind about Mr Hester's bonus but it would have made Hester's position untenable. "Mr Hester's job at RBS in the last three years has not been made any easier by the incompetence of EU politicians, whose inept and moribund approach to the sovereign debt crisis has trashed the banking sector's value. This level of incompetence has taken the EU and the UK to the brink of recession. What bank in its right mind would lend money to counterparties, which may not be able to repay. "We must hope that Stephen Hester does not resign. Frankly he has grounds to! The job is immensely stressful. Does he need the grief if the support is not there? Frankly the office of CEO has been rubbished by the unparalleled pressure heaped on Mr Hester. The £1.2m salary is cast in stone. Mr Hester needs to keep a team of the best people incentivised so that the taxpayer gets its £45bn returned PDQ! Bonuses awarded to Mr Hester are only meaningful if RBS's share price rises, resulting in the taxpayer being repaid. That strikes me as sensible." |
Re: Pounds down again.
Originally Posted by mikelincs
(Post 9873680)
He's turned down a bonus on top of a salary of 1.2 million, his Chairman turned a bigger bonus down before it was announced, now we wait to see what the boss of Barclays does with his bonus of £6.5million. These people are paid silly money in any case, and in the current ecconomic climate it's obscene for them to accept any bonuses, after all the current problems were started by the banks getting greedy and making huge mistakes.
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Re: Pounds down again.
Originally Posted by tonysallis1
(Post 9873803)
totally agree, I asked Job Centre (lol) if I could get a £1 mill bonus for my failures in life, needless to say they declined
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Re: Pounds down again.
If he had kept his bonus the taxman would have taken £500,000.
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Re: Pounds down again.
Originally Posted by jackytoo
(Post 9873927)
If he had kept his bonus the taxman would have taken £500,000.
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Re: Pounds down again.
Originally Posted by cricketman
(Post 9873944)
I'll remind you that RBS is 85% owned by the tax payer, so not giving him any bonus saves £850k
The bonus in hindsight would look cheap compared to the slow death of the bank and the UK would own 85% of bugger all. There are good and bad decisions made in business daily. Businesses can trade themselves out of bad decisions. No one, however, will do business with a bank that does not make decisions. As much as you hate these people they make decisions and have the right connections within the industry. If you are going to persist moaning about a nationally owned bank operating on a level playing field with the competition then you really have to question the original decision to save these failed businesses in the first place. IMO failing businesses should have been left to fail, that is after all the game of capitalism. |
Re: Pounds down again.
Originally Posted by EllisG
(Post 9875187)
IMO failing businesses should have been left to fail, that is after all the game of capitalism.
Look at Spanair going bankrupt. The Catalan government had pumped in tens of millions to try and keep it afloat, now they too are in danger of going bankrupt "Saving" the banks or other big businesses may be the easiest option in the short term but I suggest that in the mid term it could bring down the entire country. Indeed the indebted banks are part of the reason why the UK is the most indebted nation on earth as a percentage of GDP |
Re: Pounds down again.
Originally Posted by steviedeluxe
(Post 9870343)
1.1898 against the Euro :thumbdown:
Sorry to add to the gloom. I don't suppose any of us would have predicted this. What are George and Dave doing? |
Re: Pounds down again.
Originally Posted by dorishaslop
(Post 9875317)
This may sound incredibly dumb but I have no idea about exchange rates... I am coming over next week on a house sit, my friend suggested that I bring sterling over and she will swap like for like with her euros... am I going to come out worse off or should I change up before I come??
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Re: Pounds down again.
Originally Posted by JLFS
(Post 9875334)
Dont worry Doris I will help you out with the exchange, you give me your pounds and I will give you thousands of pesetas in return.....
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Re: Pounds down again.
Originally Posted by dorishaslop
(Post 9875317)
This may sound incredibly dumb but I have no idea about exchange rates... I am coming over next week on a house sit, my friend suggested that I bring sterling over and she will swap like for like with her euros... am I going to come out worse off or should I change up before I come??
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Re: Pounds down again.
Originally Posted by John & Kath
(Post 9875546)
You sure she is a friend?
last time my OH sorted it all out for me. thanks for the heads up though. :) |
Re: Pounds down again.
Depends on the friend, she may just want to get hold of some sterling to travel. Better than going through an exchange place if calculated correctly..for both people:)
A friend in Spain used to always give me a shopping list of things when I went to UK. When I got back she would pay me the equivalent in euro. Always worked to her advantage, never said anything as I would have felt petty saying I was a tenner or so out of pocket.:frown: |
Re: Pounds down again.
Originally Posted by dorishaslop
(Post 9875577)
I take it that I should buy my euros before I travel then.... :unsure:
last time my OH sorted it all out for me. thanks for the heads up though. :) |
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