No Bonus for RBS protest

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[natweststaffmember]

Re: No Bonus for RBS protest

I'm sorry saffy, I agree with the paying of bonuses regardless of the bank concerned so respectfully, bump the thread and say I can't join the group

[Sapphire]

Re: No Bonus for RBS protest

I respect your opinion Natts, however much I disagree.

[Guest]

Re: No Bonus for RBS protest

I'm sorry saffy, I agree with the paying of bonuses regardless of the bank concerned so respectfully, bump the thread and say I can't join the group

Why?

[WendyB]

Re: No Bonus for RBS protest

I'm sorry saffy, I agree with the paying of bonuses regardless of the bank concerned so respectfully, bump the thread and say I can't join the group

Why?

[natweststaffmember]

Re: No Bonus for RBS protest

Why?

I believe that incentives should be there to drive performance. If someone has achieved their targets based on performance then they deserve to be incenivised. Furthermore, are we saying NO to everyone getting a bonus including high street staff or is it just those who might get more bonuses?
If you say to bonuses then it is NO to ALL levels of bonuses regardless of grade.
With regards to RBS Group, if they return to profitability and remember all of the board under Sir Fred "the Shred" Goodwin have gone, then those who have helped it do so should be rewarded.
Remember, Northern Rock paid balances for simply repaying part of the government money and there was a mild reaction even though it was government owned.

[Guest]

Re: No Bonus for RBS protest

Have you actually clicked the link?

Three times the words "investment bankers" appear and the thrust of the protest is the payment, to investment bankers of public money in the form of bonuses.

You know full well that it is investment bankers that these objections relate to, yet choose to pretend that this relates only to high-street bank staff instead.

A bonus related to a specific job, or a set of pre-agreed criteria which have been met may well be due to the individual even if collectively the organisation has made a loss, or has been propped up with public money.

However, this protest is not about that, but instead concerns the individual payments, some of them hundreds of thousands pounds or more, to certain key people at levels which cannot be divorced from corporate responsibility for failure. These are wholly inappropriate and simply cannot be defended.

As for your comments regarding the new board of RBS and that they should be rewarded. It is not difficult to come back from the largest corporate loss in British company history is it? Anything they do, anything at all is going to be an improvement on the latest set of accounts and not only that, they have Government backed guarantees on everything they do. RBS was a shambles and has lost billions, as such paying any bonuses is a preposterous idea.

[natweststaffmember]

Re: No Bonus for RBS protest

My comments were merely stating that if we are going to get heated about bonuses then it must be about bonuses across the board not just one area of the business which lost the most money or the former ABN AMRO part of the business that RBS Group bought back in 2007

[Guest]

Re: No Bonus for RBS protest

Why must it be about bonuses across the board when it was only one area of business that cost the bank its profit? The discussions that you are proposing is the antithesis of common sense.

RBS employs over 200,000 people. Would you penalise all of them for the rash actions of a handful of greedy, irresponsible mavericks?

[jim3940]

Re: No Bonus for RBS protest

Have you actually clicked the link?

Three times the words "investment bankers" appear and the thrust of the protest is the payment, to investment bankers of public money in the form of bonuses.

You know full well that it is investment bankers that these objections relate to, yet choose to pretend that this relates only to high-street bank staff instead.

A bonus related to a specific job, or a set of pre-agreed criteria which have been met may well be due to the individual even if collectively the organisation has made a loss, or has been propped up with public money.

However, this protest is not about that, but instead concerns the individual payments, some of them hundreds of thousands pounds or more, to certain key people at levels which cannot be divorced from corporate responsibility for failure. These are wholly inappropriate and simply cannot be defended.

As for your comments regarding the new board of RBS and that they should be rewarded. It is not difficult to come back from the largest corporate loss in British company history is it? Anything they do, anything at all is going to be an improvement on the latest set of accounts and not only that, they have Government backed guarantees on everything they do. RBS was a shambles and has lost billions, as such paying any bonuses is a preposterous idea.

I fully agree and have signed up.

[WendyB]

Re: No Bonus for RBS protest

I signed up to, before this thread was started.


I have nothing against paying bonus for improvement, and using bonuses as an incentive. I do, however, object to paying inflated bonus amounts to investment bankers who, as yet, have done nothing to earn them, and some of whom may even have been responsible, for the parlous state the banks found themsleves in. It is hardly difficult for the new crew to make a better job of it than the previous crew, is it? So in effect we are rewarding them merely for doing their job properly. And as a taxpayer, I object to my taxes being used to fund these bonuses. Because like it or not, as a taxpayer I am, in effect, a shareholder in the banks which were bailed out by the government using money which came mainly from taxpayers. If I wanted to fund the bonuses and lavish lifestyles I would say so. As I don't want to fund them, then I feel I am perfectly entitled to say so, too. To be perfectly honest, when I wanted to invest in shares I did so through choice, and picked something which I wanted to invest in, and got a decent return for, rather than giving up my tax with absolutely no choice at all to fund something or someone which I am totally against.

[charitynjw]

Re: No Bonus for RBS protest

Hi all,

I can't pretend to have any knowledge in these matters, so please excuse my ignorant ramblings.

A thought did occur, though - would the bank(s) have run into contractual problems by not paying agreed bonuses?

That said, wouldn't it have been refreshing if the recipients had, out of common decency, agreed to forgo their illgotten gains, or donated it to some worthwhile cause?

[EXC]

Re: No Bonus for RBS protest

My comments were merely stating that if we are going to get heated about bonuses then it must be about bonuses across the board not just one area of the business which lost the most money.......

When interviewed on BBC news yesterday Billy Bragg made a point of saying that his protest was not aimed at branch staff etc whom he praised.

And it's not merely a case of ''one area of the business which lost the most money''. It's about reward for gambling with the nation's economy.

[natweststaffmember]

Re: No Bonus for RBS protest

To pick up on a few points: RBS Group employs 170,000 employees(and going downwards).
If the investment arm made money then I see no reason why they should not be given bonuses which they will be taxed for under the government scheme(25% I think the government has said).
A lot of the losses were from the ABN AMRO side of the business which was approved by all shareholders.
Furthermore, we either want to stay in the bank for many many many years or we want to gain a return from the investment we have. If we do then you pay to get results against the targets set for them. If we don't we hire average workers and allow them to be poached by others.
Considering that this issue was a big topic last year, the question is what has the Government done to address this?
It has stated no 100% cash bonuses to those earning over £40k so what are the exact details of the bonus? Is it cash plus shares. cash alone taxed at 25%. Let's add detail to it. By all means sign/get involved with the Facebook group but I'm not because I do believe for the reasons I gave earlier on and the clarifications I have had to waste my time giving with additional posts.
If you do agree with it then enjoy it and if you don't try not to criticise my views because you do not like them or do not believe the value of them.

[EXC]

Re: No Bonus for RBS protest

If you do agree with it then enjoy it and if you don't try not to criticise my views because you do not like them or do not believe the value of them.

Why not?

You yourself turned this into a debate with an opposing view.