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

[The Spartan]

We'd all do the same given the right circumstances, as in leave if something wasn't to our liking. Like rate cuts for instance, it was in his contract but the share price has fallen a fair bit since he took over but how much of that is down to the state the back was left in by Goodwin and Co

[OwlHoot]

So you think his decision was strategic? do explain

Having done the Government's bidding, or at least acceding to their obvious wishes, he presumably has much more chance now of landing a plum token role on some finance quango once he leaves RBS (although I'm not for a moment suggesting there was an explicit deal).

[AtW]

It sends another message, don't work for RBS. I wouldn't be surprised if he says "feck it, I'm orf" pretty soon.

Look, every big company should have home grown people available to take the top job - you know, former deputies of previous CEO? If a big company has not got such people it is totally and utterly ****ed in the first place.

Consequently for those good companies that follow this model they'll have people who worked there for a long time, want to continue working and getting job of CEO will result in massive increase in salary that they get paid for the job.

Any big bonuses should ONLY be awared for exceptional work that is something beyond normal course of action.

[DodgyAgent]

I <choke> agree <gag> with what <heave> Dodgy Agent says <retch>.

If it's in his contract of employment then it should be honoured. If he's taken RBS from being a complete basket case to the point of being 'not great' then that's a massive improvement. The Labour party, as the people who employed him to do the job, should be backing him to get the rewards he signed up for. Milliband is guilty of weasely political opportunism.

It's when bankers award themselves tens of millions whilst sacking people in a profitable business to line their own pockets that I start getting that boiling piss thing going on. We'll save that debate for when Barclays announce their results.

[DodgyAgent]

Look, every big company should have home grown people available to take the top job - you know, former deputies of previous CEO? If a big company has not got such people it is totally and utterly ****ed in the first place.

Consequently for those good companies that follow this model they'll have people who worked there for a long time, want to continue working and getting job of CEO will result in massive increase in salary that they get paid for the job.

Any big bonuses should ONLY be awared for exceptional work that is something beyond normal course of action.

Absolute total bo**ocks. Premier foods is all but bust thanks to an "internal" being promoted to CEO and going on a buying spree a la fred Goodwin. Also it is a consensual opinion in recruitment and management (You should know how much I hate consensual) that it is no longer even acceptable for people to stay with one company for too long. "Lifers" as we call them develop through the experience of a single employer, single environment - making them virtually unemployable elsewhere. You being from Russia should understand the value of having a broad spectrum of lifetime experiences better than anyone.

Working and living in different arenas gives people knowledge and experiences from many perspectives but above all it gives one confidence of being able to adapt to any environment . Contractors are the other end of the spectrum but just look at how they easily cope with changing environments - better than anyone whilst still delivering excellent (by and large) services, and even delivering them better because of their wide variety of experiences.

companies like Jaguar land Rover and National grid are chocked full of people who should have moved up or on years ago. These environments stifle enterprise and put off young people from working for them.

[Arturo Bassick]

Absolute total bo**ocks. Premier foods is all but bust thanks to an "internal" being promoted to CEO and going on a buying spree. Also one that has become common practice is that it is no longer even acceptable for people to stay with one company for too long. "Lifers" as we call them develop through the experience of a single employer. You being from Russia should understand the value of having a broad spectrum of lifetime experiences better than anyone.

Working and living in different arenas gives people knowledge and experiences from many perspectives but above all it gives one confidence of being able to adapt to any environment confidently.

companies like Jaguar land Rover and National grid are chocked full of people who should have moved up or on years ago. These environments stifle enterprise and put off young people from working for them.

Have to agree.

Another aspect I see with internal promotions is that people get lifted into a job they do not want or have the training for and it often leaves the company with 2 issues, a senior with no idea and the loss of a skilled worker in the department they left. Very often none of the work gets done.
I have seen so many engineers promoted to management who fail to cope as managers and the engineering team loses access to knowledge and skills.

[scooterscot]

I <choke> agree <gag> with what <heave> Dodgy Agent says <retch>.

If it's in his contract of employment then it should be honoured. If he's taken RBS from being a complete basket case to the point of being 'not great' then that's a massive improvement. The Labour party, as the people who employed him to do the job, should be backing him to get the rewards he signed up for. Milliband is guilty of weasely political opportunism.

It's when bankers award themselves tens of millions whilst sacking people in a profitable business to line their own pockets that I start getting that boiling piss thing going on. We'll save that debate for when Barclays announce their results.

HMRC and all their vaseline equipped trojans could not give the tiniest sh1t what your so called solid IR35 contract from the agent says. They'll still peruse you until you fold, only the strong survive.

Much similar happenings between the Hester and media are the cause of this result. Personally I'd prefer a stronger will at helm to see the revival of this institution.

This outcome is not a good result for the taxpayers even though they might feel it in the short-term.

[DodgyAgent]

HMRC and all their vaseline equipped trojans could not give the tiniest sh1t what your so called solid IR35 contract from the agent says. They'll still peruse you until you fold, only the strong survive.

Much similar happenings between the Hester and media are the cause of this result. Personally I'd prefer a stronger will at helm to see the revival of this institution.

This outcome is not a good result for the taxpayers even though they might feel it in the short-term.

That is a complete red herring. The agreement between employer and employee/contractor/client/agent is there to be honoured. the fact that a third party (HMRC) sticks its oar in does not mean that the original agreement should be broken. The only reason for the agreement to be dishonoured is if it was illegal.

[AtW]

Absolute total bo**ocks. Premier foods is all but bust thanks to an "internal" being promoted to CEO and going on a buying spree a la fred Goodwin. Also it is a consensual opinion in recruitment and management (You should know how much I hate consensual) that it is no longer even acceptable for people to stay with one company for too long. "Lifers" as we call them develop through the experience of a single employer, single environment - making them virtually unemployable elsewhere. You being from Russia should understand the value of having a broad spectrum of lifetime experiences better than anyone.

Yeah 2100% inflation in 1992 and defaulting Govt that ended my promising banking career in 1998 certainly gave me "broad spectrum of lifetime experiences better than anyone" as you so eloquently put it

Now I am chasing some important bug in my code to continue this conversation right now but I'll be back!

P.S. Companies that don't nurture their own internal talent deserve to go bust - exception when they invite someone who will work for long time (ie Schmidt in Google).

[AtW]

The only reason for the agreement to be dishonoured is if it was illegal.

Wrong - agreement can be changed by mutual concent, which is what happened - it's not like somebody put a gun to his head to reject bonus, all he had to do is choose between money and reputation, I am glad he made the right choice.