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

[DodgyAgent]

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).

Here let me help you

[scooterscot]

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.

No one will disagree with you that it's 'there to be honoured', however popular opinion shall come out tops.

Legality is a 'nice to have' for governments and businesses, even our own government has managed to break law after law over the years. We're 16th place on the corruption perception index you know, next door to Barbados

You don't get to the position without knowing how to sidestep the odd illegal war or operate a corrupt city financial centre. Here's the bottom line, nice people finish last counties included. You're living in utopia whilst operating in dodge central. Get a grip.

[DodgyAgent]

No one will disagree with you that it's 'there to be honoured', however popular opinion shall come out tops.

Legality is a 'nice to have' for governments and businesses, even our own government has managed to break law after law over the years. We're 16th place on the corruption perception index you know, next door to Barbados

You don't get to the position without knowing how to sidestep the odd illegal war or operate a corrupt city financial centre. Here's the bottom line, nice people finish last counties included. You're living in utopia whilst operating in dodge central. Get a grip.

I was once told "show me a lunchtime drinker and I will show you a poor afternoon performer"
what are you on about?

[d000hg]

At the moment the hatchet seems to be out for bankers. Footballers, Authors, Actors, etcetc. seem unaffected.

Yeah. No doubt they'll find someone else in a bit. Unusually, the anti-banker thing has survived the more recent phone-hacking scandal but we'll be back to MPs or GPs or Headteachers or something soon.

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

Agreed. Go find a job in the US or another big non-bank company.

[OwlHoot]

P.S. Companies that don't nurture their own internal talent deserve to go bust ...

It might be in the company's interests, up to a point. But they aren't nursery schools - Their prime objective is to make a profit for their shareholders (or, for a private company, owners), even if this may have to be deferred during the startup stage.

[AtW]

Their prime objective is to make a profit for their shareholders

Bringing short term executive who'd get paid massive bonus regardless of whether share price goes up and down is hardly the right way to make profits to shareholders.

[DodgyAgent]

Bringing short term executive who'd get paid massive bonus regardless of whether share price goes up and down is hardly the right way to make profits to shareholders.

And who does that? what companies bring in "short term executives" on this basis?

[AtW]

And who does that? what companies bring in "short term executives" on this basis?

Can't find link on top of my head but average tenure of UK/US CEO on top level these days is like 18 months or so.

[Peoplesoft bloke]

Interesting that Boris called this correctly and Dave et al didn't

[DodgyAgent]

Can't find link on top of my head but average tenure of UK/US CEO on top level these days is like 18 months or so.

According to executive search firm Russell Reynolds, the average tenure of a FTSE 100 CEO has fallen 20% since 2002, (to 4.6 years), while for a FTSE 250 firm, there’s not much improvement: 5.1 years (source: Manchester Square Partners).

Not quite 18 months is it?