Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

[Legal Beagles]

Executives from the Royal Bank of Scotland have enjoyed a lavish £30,000 bash at Blenheim Palace – just a month after the bank was bailed out with £20billion of taxpayers’ money.

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[natweststaffmember]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

For the love of god. OK, I have some bad news for the press. The bank will be spending about £250 million pounds on Tuesday and will do that again next month on the 18th December 2008. It is a lavish affair PAYING those staff who work for the group. Furthermore, the bank will be spending £30,000 minimum on sending out mail, is that allowed?? Get some perspective you idiots. £30k is approximately 4 hours worth of the interest payable on the loan the government is giving the bank. GUTTER JOURNALISM is alive and well.

[Amy]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

Why does it have to be a lavish affair? Why must they hold the party in Blenheim Palace?

Lavish Christmas parties are usually if the employees/company have/has performed well. You cannot say RBS or their employees have performed well if they need a loan from the tax payer.

This party is not payment for their staff, they have wages as payment for their work. It is a reward, but quite what it is a reward for I have no idea.

You don't reward a naughty child with more toys - you take them away and they will try harder next time.

[enaid]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

So 90 people had a bloody good night out on 30 grand, that's £333.33p each.
Just trying to work out how many rum'n'cokes 'n' sausage rolls that would supply, back in a day or two.

[natweststaffmember]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

Why does it have to be a lavish affair? Why must they hold the party in Blenheim Palace?

Lavish Christmas parties are usually if the employees/company have/has performed well. You cannot say RBS or their employees have performed well if they need a loan from the tax payer.

This party is not payment for their staff, they have wages as payment for their work. It is a reward, but quite what it is a reward for I have no idea.

You don't reward a naughty child with more toys - you take them away and they will try harder next time.

Which employees haven't performed well? There are divisions within RBS Group that have made profits that have been sucked up by potentially poor decision making by those at the very top. Let's buy ABN AMRO at top price even though they had huge toxic debts. You see the bank making a loss and assume that every single division of the bank has contributed to it. That is wrong.
Sir Fred Goodwin has gone because of it.
Do not tarnish every single employee with the tag FAILURE because that is utter total rubbish. Next year read the yearly report into performance and then tell me that every division of RBS Group were failures. When you do, I might have some retraction of comments made here. RBS Group will make a loss, I am certain of it, but there will be divisions of the group that will have made a profit.

[Amy]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

They are all part of the same group and it is therefore completely irrelevant which divisions have made a profit or not. Whatever profit was made was clearly not good enough or they would not have needed the hand-out.

They could have earnt themselves some brownie points here, but they chose not to.

[natweststaffmember]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

They are all part of the same group and it is therefore completely irrelevant which divisions have made a profit or not. Whatever profit was made was clearly not good enough or they would not have needed the hand-out.

They could have earnt themselves some brownie points here, but they chose not to.

So rewarding those who do perform well then should not be tolerated?
Should we ban the congratulating of those who pass GCSE's cos of those who failed to pass(or because the exams are easier)?
Should we ignore the successes of British Athletes because we may not get as many medals as we should have? Amy, you know I won't agree with you on this because you are painting all employees from decision makers downwards as failures, and that in my opinion is a load of crap. I understand what you are saying but will never ever agree with you in this respects.

[borgbaiter]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

hi all

a lot of people are being made redundant having performed wonderful jobs. if the company isnt making money its sad but thats life.

its irksome some of those being made redundant are contribting to this lavish party.


Borgbaiter

[scoobydoo]

Re: Royal Bank of Scotland blows £30,000 on lavish Blenheim Palace party

The other angle is that if all events are cancelled it will also lead to more redundancies with the C and E industry. I dont find this party at that cost as bad as some other things the banks have been spending money on.
Also IMO if banks cancel every planned party then they will install even more panic ( if that is possible!)