RBS Risks Row Over 'Unacceptable' Stephen Hester £1m Bonus

[DimPrawn]

Everyone sees how sportspeople perform because they play in front of 50 odd thousand people and millions of TV viewers. If they screw up, they get dropped and their earnings fall substantially. If they perform they are rewarded.

Yes, they might seem very well paid indeed for kicking a ball around, but most professional sportspeople earn a lot less, perform under a lot of pressure but still consider themselves very fortunate to be allowed to play their favourite game and be paid for it.

BBC News - Former Aston Villa star Lee Hendrie declared bankrupt

The former Premier League player, who won his only England cap in 1998, has homes in Solihull, West Midlands, and Rowington, Warwickshire.

Some of them invest it all in property and then forget to pay the taxman.

[AtW]

BBC News - Former Aston Villa star Lee Hendrie declared bankrupt

"He is now signed with Kidderminster Harriers and reportedly earned £24,000 a week at the height of his career."

From £24k per week to bankrupcy?

[KimberleyChris]

I don't understand why you have to pay the already rich to stay in post and work harder.

If someone paid me a million-pound lump bonus, you wouldn't see my a**e for dust.....

[AtW]

If someone paid me a million-pound lump bonus, you wouldn't see my a**e for dust.....

Ok, look it's like this - £1 mln bonus and taxman takes 50% minimum.

So that's £500k left.

Your wife divorces you and takes half (plus house), so that's leaves £250k.

The legal costs from both sides in divorce case get £200k, so that leaves £50k left

You spend remaining money on hookers, hotels and hard drugs, this leaves you destitute leaving on streets trying to sell Big Issue.

HTH

[BrilloPad]

Ok, look it's like this - £1 mln bonus and taxman takes 50% minimum.

So that's £500k left.

Your wife divorces you and takes half (plus house), so that's leaves £250k.

The legal costs from both sides in divorce case get £200k, so that leaves £50k left

You spend remaining money on hookers, hotels and hard drugs, this leaves you destitute leaving on streets trying to sell Big Issue.

HTH

This is so close to the truth. Really touched a nerve there....

[KimberleyChris]

"Ok, look it's like this - £1 mln bonus and taxman takes 50% minimum".


He'd have to find me first. If I ever got my hands on a wedge like that, I would not leave one atom behind me in the UK.

[AtW]

"Ok, look it's like this - £1 mln bonus and taxman takes 50% minimum".


He'd have to find me first. If I ever got my hands on a wedge like that, I would not leave one atom behind me in the UK.

Well, when you steal £500, you can just disappear. When you steal £1 million, they will find you, unless they think you're already dead.

[TimberWolf]

BBC News - RBS boss Stephen Hester rejects £1m bonus

Royal Bank of Scotland chief executive Stephen Hester will not take his near-£1m bonus, the BBC has learned.

I would reject a -£1m bonus too.

[Waldorf]

Really he should have done what Antonio Horta-Osorio (LloydsTSB) did and decline the bonus, IMHO he made the right choice seeing as Lloyds is cutting jobs left right and centre and it is 41% by the taxpayer

I think the reason he waived his bonus is due to the fact that he took a considerable time off due to stress, I think that was reasonable in the circumstances.

[Waldorf]

I am disappointed that Stephen Hester has waived his bonus, my reasons are:

1. RBS is NOT a nationalised bank, it is still a public listed company, although with the government owning 83%;
2. The directors of RBS have a duty to act in the best interests of RBS, as such the risk of Hester resigning would have put at risk the stability of the bank;
3. The last government gave him the job, and now Labour have abandoned him for political point scoring, if Hester leaves, RBS will struggle to get someone to take the job;
4. Hester has been successful in reducing the vast potential liabilities that the taxpayer underwrites;
5. The share price is not the only thing, this is depressed due to the mess in Euroland, longer term this will right itself;
6. I am very disappointed that the conservatives have not backed him and set out why this bonus should be paid;
7. I expect nothing less from the liberals;
8. The tax and NIC would be payable at 52%!;
9. We are in danger of forcing bankers, business people and entrepreneurs out of the UK, as not a friendly place to do business.

This whole mess stems from the lack of regulation (removed by Gordon Brown) of the banks, a borrowing binge by government and the public and yes some irresponsible actions by the banks.