RBS Bonus Day Banter
No invite to Davos for Chuka Umunna. After comparing running RBS to being a local NHS Chief Executive, the acceptable face of Milibandism told the Today programme that bonuses should be linked to performance. He failed to mention that Stephen Hester’s bonus will do exactly that. RBS are not giving him cash, but share options worth £963,000. He will not be able to claim it until 2014, so if RBS shares drop, his bonus will drop. With no one willing to take Chuka on this morning, it was left to John Humphrys to paint the picture of doom at what would have happened to RBS, and taxpayers’ money, if Hester and his board had walked out.
Elsewhere LibDem Jeremy Browne has said Hester should turn the bonus down. Interesting positioning from the right-wing LibDem.
Lining up for Huhne’s job?
Labour hired this guy and told RBS the government would keep at arm’s length. So it’s rich to seem them get shirty in opposition.
That said Hester probably can’t take any variable part of his pay package. Even share options will upset many and the guy will be as popular as arch Labour crony Fred Goodwin.
It’s all a big distraction from the shipwreck that is RBS. We’re obsessing over the pay of one man but not asking what is happening to the bank and out investment.
So what is happening to the bank and our investment?
Anyone know???
Aye! Ah’m get’n on wi’ ma’ jobby!
The same public duty that MPs will show in turning down second homes, lobbying, expenses. The previous government asked Mr Hester to the job he did not apply. Labour knighted Sir Fred for his work!!! What about ministers and MPS wasting billions of taxpayers money? Any recall to Brown or Blair?? Both earning huge amounts for the way they got the country into the mess and illegal wars, any action being taken against them???
When MPs sort out the pervasive corruption at Westminster then people might start taking them seriously. Clegg proposed shutting the gates of Westminster until politics were cleaned up. If MPS could not access Westminster that would help the country.
I forgot anyone in Labour sorting out Sir Fred’s pension so it is in line with his performance? Lord Myners did a piss poor job. Some think it might have something to do with Sir Fred being responsible for Lord Myner’s pension when he left banking? Let us have an inquiry to find out why Sir Fred was knighted, why he was given such a bountiful pension pot and why Lord Myners was appointed to make the decision. It would stop all the gossip. Come on Labour, let us hear your calls for the inquiry.
Leave it to me!
For the Banking Bonus supporters. We heard that all before. “Let them Eat Cake”"
And we know how that ended. HA HA.
Its the Same educated Robbers. Why dont they just wear a Mask and lets have done with it. Educated Robbers, with their Political mates and a job in the House of Lords and a few Million stuck in Blind Trusts.
Ask Tony Bliar, Or Mandy how they got the Mansions. Its great when you aren’t in business making money and get it handed too you through some Charity that gets its money form Government.
If Stephen Hester really wants to make some money he should become a former Labour Prime Minister. Worked for me!
As a former employment lawyer, you might expect Chukus YaMoney to have read Hester’s contract.
Instead, Labour’s favourite millionaire public school, posh boy (after Ed Balls) uses all of his innovative business skill to show us he knows nothing about Business, Innovation or Skills.
God help Labour if this is the best future leadership candidate they can muster – looks great, talks bollocks – soooo Blue Labour
There was an excellent BBC programme about RBS, laying out the sorry tale of it’s demise. Goodwin got a board full of yes men so even when the ABN deal looked awful at the start of the credit crunch they still went ahead
Let the board walk out.
We can fill the posts with new people, and pay them less.
Heck, If I wasn’t so busy, I would apply for the job myself.
How hard is it to sack 20,000 employees?
If we cannot stop Hester’s bonus, how can we stop any other banker’s bonus?
How do you stop any private business issuing a bonus? You cannot, unless you nationalise everything and create a communist economy. That will bring us wealth won’t it?
Erm, isn’t RBS a nationalised bank?
You stop a private business issuing a bonus by owning 80% of the issued and voting shares you dopey twat!
Exactly and there in…
The Banks are already Nationalised. Like most of the Pseudo Private Energy Businesses or Telecoms etc etc. Rail Track. Private My Arse. Private companies are kept on the bottom, Taxed to a standstill, WHY do you think most larger operations in UK are foreign? Yeah and the rest work for the Government.
Goodwin was the problem, not Hester
Interesting how the BBC keep missing the wide open goal of asking Labour and Chukka Brick what was in Heston’s contract regarding bonus et al.
An army of lawyers would have made sure it was watertight and considering Labour’s total lack of negotiation skills they would have run rings round the incompetent Labour ministers’ trying to defend their Labour heartland.
I can only hope (don’t hold you breath) that the Government will wait until Labour become stridently OTT and then spring the trap.
Are you fucking brain dead or something Milliband?
The problem is the City of London and if you do not know where that is I will give you a clue………. go and look up Cameron’s backside.
I wonder what Chucka’s bonus was when he worked for the City solicitors Herbert Smith.
I think we should be told.
One cannot deny that Chuka is quite plesent on the eye, but this still cant hide the fact that he is as thick as pig shit………….
Chuckup “Leader of Labour’s Shadow Business Team”. The guy has never worked a day in the commercial sector & could not run a sweet shop.
I’ve known smarter crack dealers than him – perhaps we should get some more “diversity” into his department.
At least crack dealers have experience in running a business and can handle concepts such as Profit, ovetheads etc
Yes….as a nationalised organisation it’s our duty to expose capitalist pigs and bonus greedy bankers
I watched this guy having a go at everyone on QT last night, and when someone, I think it was that Philips woman, tore into him, he was meek and mild afterwards.
Trouble is, he has risen out of his ability zone and cannot cope any more. He can only toe the party line and when the conversation branches out into territory he hasn’t been briefed on, he cannot improvise intelligently and makes an ass of himself.
It’s a shame really but just as well he isn’t in Government as we have enough incompetents in the Tory party.
If you want to see a terrific black person in Government, there are some radio and television programs of Lindiwe Mazibula – she is the leader of South Africa’s DA’s parlimentary MPs – fourth youngest in the parliament. And what a girl, she is more able and intelligent than anyone in our government. She’s make Dian Abbot look slim though
I suppose you have just renewewed your Conservative Party membership card.
Any bonus to Hester is a discretionary one only.
Put it about that Hester will only get share options which will be worthless if the Bank fails and the Plebs will calm down.
the trick is that Hester will be quite happy with share options at a current price of 26pence particularly when the shares were trading at 48pence when Hester arrived.
The FTSE has gone up approximately 60% during Hester’s stewardship whilst his Company’s share price has fallen by approximately the same amount.
If Hester is to receive a bonus in share options all well and good but let us have a serious and open debate with the option price being linked to a co efficient of all the prices I have quoted which hold a realistic assessment of Hester’ s overall performance.
As far as I can see, this bloke will be able in 2 years’ time to sell his million quid’s worth of shares. If there is a catastrophic decline of 50% in their value, he will only make off with half a million quid. Poor fellow will probably have to shop in Poundland.
http://www.bbc.co.uk/news/world-16754600
Meanwhile in the real world, at least 5 million Spaniards are suffering just to save the Germans, the French and the Euro.
Where is the German pain?
Haven’t we been here before?
What is happening is complete and utter financial madness and everyone knows it, just to save face for the Elite Euro politicians ffs!
There isn’t enough money in the world even to save the Euro.
Free these countries from the Euro now and let them go back to manage their own currencies,warts and all, and start again.
This is a staggering 22.5% unemployment rate. Could this happen here?
These are the consequences of trying to save the Euro, and the French, Germans and the European Political elite must take the blame for this.
Utter and complete madness. Time to call a halt please for the sake of our children.
But will the Germans listen?
oh, you posted it again, ok then:
I don’t know why you’re putting France and Germany in the same boat there.
It isn’t just geographically that France situated between the two, and depending on how you look at it they’re closer to Spain than Germany.
“Free these countries from the Euro” – I don’t see quite how “we” free them, that would be up to the spanish people really.
You would be ok if you had a brain. It’s a shame you don’t seem to be able to think, let alone think outside the box, cretin.
Insults and nothing else. haha ha ha.
Sell gold and buy the Euro!
Oooooohhhhhh! My Hero!!
This rug tastes good this morning
“that would be up to the spanish people really.”
I don’t believe you understand quite how this EU thingy works. The people have no voice at all and worse still, all the major political parties of EUrolalaland refuse that particular option.
It is indeed a highway to hell for everyone except the elites for whom, no suffering is too great, no amount of poverty too high or unacceptable, in their futile attempt to save the wretched project.
You know, this is how wars start.
>There isn’t enough money in the world even to save the Euro
Oh we can soon solve that problem.
Labour gobshite talks shite.
Chuka Yermoney talks nothing else. So far up his own arse, he can out-contortion Hudini.
And even Houdini.
What the thieving Baroness got to do with it?
Being lectured by Chukka put me off my Fruit and Fibre.
Very cold very buiteaful. Enjoy the turn of the year and we wish you all the best for 2008 with a lot of pictures!
Am struggling to envisage the doom if the board of RBS walked out. About on a par with the catastrophe that would result if my milkman walked out (and I don’t even have a milkman).
For ‘performance’ – not to mention stamina – it’s hard to match Muir Russell and the Scotch Parliament Building fiasco, among other things.
Ah the wonderous Muir Russell, the man who whitewashes everything he sees. It is an honour that such noble and unimpeachable giants live among us.
Oh I dont know about that
And if the shares drop by 10% he will still be able to cash them in for more than £850,000
It is becoming clearer and clearer by the day that Labour are targetting the thicko vote, and so their strategy now is to tell the thicko a) either what they want to hear, or b) what they won’t understand. Using stupid analogies, poor examples, false statistics (and from David Lammy’s performance on Question Time add ‘raising your voice’ to the list) and idiot logic they leave their electorate in a stupor.
This is where democracy false flat on its face…
If you can get more thickos to vote than any other constituency – you win.
That idiot Miliband minimus might have it right then?
The M.P. for Doncaster is perfectly safe, if you’ve been there, you would understand why.
It worked for Bliar.
Supported by the BBC who this morning were announcing that if Greece had to default the whole world’s finances would collapse. BBC has so many narratives supporting the stupid Balls and Milliband they do not realise they have not only lost the thread but have no joined up writing.
‘He failed to mention that Stephen Hester’s bonus will do exactly that’
One presumes that a highly-paid, well-researched interviewer called him on that and nailed him.?
If not, why not?
Getting MPs on air to peddle misinformation is ceasing to be credible.
The trouble is the thicko vote are net recipients of government dosh. If you were in there position who would you vote for?
They are simply following Obama’s election strategy: sucker in the thickos by getting a young, smart looking black guy to pass comment on everything, even if what he says is merely a load of idealistic crap. All promises of change from the status quo will quickly be dumped in preference to more of the same once elected.
Chukka whateverhisfuckingnameis talks shite for a living.
I just love that man…
He’s great, isn’t he? Now that Mandelscum and Harman have retreated into the twilight of their political careers, it’s wonderful that we have Chukup, Ballsup and Fatbutt coming to the fore as new (or newly invigorated) objects of universal derision.
Thut up and thow thome wrethpect to the new gererwathon.
I thow them all the rethpect they detherve.
Imagine Chuka or Ed in charge of a global multinational company with billions of assest?
No me either.
Chuka visits a school, and asks a pupil, little johnny ‘If you had five sweets and I asked you for one, how many sweets would you have left?’
Johnny – ‘Five’
QUOTE OF THE DAY ?
Is four after five ?
never been sure
Ask my Father, Henry the Fifth
Me neither. What page is that on?
Let me see. So 5-1 with 12.5% NI contribution is the same as 5-0 with 15% NI and a 5% union fee, with 1 sweet carried over to next month. It’s hard this stuff isn’t it? I reckon he’ll have to borrow a big bag of sweets and work until he’s 68 to pay for it all.
Get the red van ready, Jess. Mrs Goggins has some parcels fur us to collect.
He’[s still not having one of johnnys sweets!
“My suit is worth more than your house!” pot/kettle/black (can I use the word black in this context?)
If the Labour government hadn’t given ‘em all our money they’d have gone down the pan and we wouldn’t be having this conversation!
No!!! dem words is OUT!! and dat word means you is da ray cyst! An da coffeee machine don’t do dat colour no more!
Move on whitey!
“Move on whitey” ???
I will only accept Honkey – a true racist would know this!
Honkey it is then – bruv
Racists !
Sack white people first!
2009 Order-Order?
Huhne is going – real soon now
Looks like Andy Murray will be a ‘Scottish Tennis player’ today
How did the inglish players do ?
They didn’t win either.
Its the wierdest aspect of nationalism that one can gain satisfaction from the sporting success of someone who lives quite close to you.
Tennis is so dull – there is a cricket game on at the moment. Is real Billy still around – not seen him for ages
M0dded? Tennis is so dull – there is a cricket game on at the moment. Is real B1lly still around – not seen him for ages
So “B1lly” now a M0dded term – why?
He’s happy stalking hair bear at the moment on twitter, so don’t worry about him.
Take a closer look, he’s still here posting with changing monikers, but much less frequently.
see 60
He’s coming back-sadly.
RBS is taxpayer owned and bailed out. That is the main cause of the outrage… if it was another bank, people would be less bothered. There should be no bonuses awarded or paid until the taxpayer has been repaid. The bank failed and is still failing to support growth.
City greed needs to be tackled. The idea that bankers will flee these shores is utter nonsense. Anyone that rich is probably domiciled overseas for tax reason anyway. 60million people live in this country and plenty would step up to the footplate.
But when the bank was bailed out did whoever was in charge (I forget who that was) renegotiate executive service agreements? If so, they must have included bonus entitlements and if not, why not? Bit rich to be bleating now.
The bank was not meant to go bust (or nearly bust) in the first place.
‘Achievements’ include: a 43% collapse in the share price which has wiped £11bn off RBS’s market value; being sued for circa $6bn by the US Federal government; an £850m provision for PPI charlatan-ism; being fined £2.8m for woeful customer service; being fined £2.17m for doctoring and forging signatures on insurance document; not lending to small businesses, forcing Peacocks off the cliff edge…
Tough. Send these people a message. You lost public confidence, you have not regained it and have a lot more to do if you ever regain it.
Time for a bank run on RBS…. Dutch did it last year and told their snout-troughs to get stuffed.
Indeed; what’s so complex about a director job that means you deserve £1million salary and a £1million bonus anyway?
It’s really just a pretty basic managerial job; anyone who’s ever run a successful business would be able to do it, it’s not as if there’s only a handful of people who are capable of doing the job; there are literally millions of people in the uk who could do that job. The staff/turnover figures etc might be very large, but that doesn’t make the job any harder than, say, running a cafe, you still just use basic common sense and business logic/practices.
In fact it’d be easier to run RBS than running a cafe because you deligate almost everything to your subordinates at RBS, whereas when you run a cafe you have to do most things yourself.
The larger the company is, the easier the director’s job is.
It’s sad, but true, that generally speaking the higher up the career ladder you get, the less actual work/effort you need to do but the more money you get.
So when are you applying?
Awsome business thinking.
Last night an otherwise unusually wise Guardianista stated on BBC that running the BBC was far more difficult than running a FTSE 100 company.
You should form a club?
Privatise the BBC then and lets see how well its shares do
My point was that that particular horse has bolted. Whatever views we have on the demands of a role, the fact remains that there was an opportunity to deal with this when Gordon bailed out the bank. He did not do so.
You should not employ someone like the Ed’s in this job.
Love the anglicising! Change the Rounders game to a good old fashioned steam trains!
Off-topic though it may be of interest to elsbyologists.
In an idle moment I just happened to Google the phrases:
“gary elsby” “the moon is full”
(I think most normal people will admit to this sort of thing if they’re honest with themselves)…and struck pay-dirt in the form of a letter to last night’s Sentinel. Gary is now behind the Coalition and is savaging Stoke’s Labour Council.
http://www.thisisstaffordshire.co.uk/Taxing-just-sleep-night/story-15041493-detail/story.html
It’s a funny old world (J. Major 1990)
Elsby is a fuckwit of galactic proportions. But you knew that already.
the political class are mere piglets suckling at the teat
some are fat piglets, some are runts, but all are piglets
until to contribute more to the tax system than you take out in wages and benefits you cannot be called a citizen
RBS and it’s employees are a net drain on the state right now
Hey, if they’re all piglets, that would make Diane Fatbutt a ‘honky’. Knowing how much Labour’s leading racist hates white people, that name would really annoy her.
Diane “Honky” Fatbutt. Ha! Love it.
Loved that HTML conversation yesterday but only saw it afterwards as I had guests:
Do you play bridge?
Dealer : S ♠A K Q J Vuln : E-W ♥A K Q J ♦A K Q J ♣A K Q N ♠10 3 2 ♠9 8 6 5 ♥9 3 W E ♥10 7 6 4 2 ♦8 7 5 3 ♦4 ♣10 6 2 S ♣9 7 4 ♠7 4 ♥8 5 ♦10 9 6 2 ♣8 5 3Wish I could have a hand dealt like this…
Show off
@Steve
One of life’s universal truths:
An expert is often a person who knows one thing more than you do.
I am about two weeks in front of you. That is all…
ω
2 weeks nearer the loony bin.
Expert?
X is an unknown quantity and a spurt is a drip under pressure.
@bedlam
I am way past loony bin stage – three decades at minimum…
Vous êtes un tricheur, monsieur!
Au contrair, mon ami!
If I am going to take the trouble to grapple with HTML and then deal myself a bad hand, then I am in need of even more help than Ed Balls.
Mais vous m’avez court changé, monsieur, et vous faites même n’essayant pas de cacher vos as dans votre douille. Je suis insulté. Vous êtes vraiment un banquier.
♜ ♞ ♝ ♛ ♚ ♝ ♞ ♜
♟ ♟ ♟ ♟ ♟ ♟ ♟ ♟
… … … … … … … …
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… … … … ♙… … …
… … … … … … … …
♙ ♙ ♙ ♙… ♙ ♙ ♙
♖ ♘♗ ♕ ♔ ♗ ♘ ♖
Your move.
Close, but no banana.
Guess you used a different tag…
It’s still not quite playable.
♜ . ♝ ♛ ♚ ♝ ♞ ♜
♟ ♟ ♟ ♟ ♟ ♟ ♟ ♟
. . ♞ . . . . .
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. . . . . ♘ . .
♙ ♙ ♙ ♙ . ♙ ♙ ♙
♖ ♘ ♗ ♕ ♔ ♗ . ♖
Check !
♜ . ♝ ♛ ♚ . ♞ ♜
♟ ♟ ♟ ♟ . ♟ ♟ ♟
. . ♞ . ♟ . . .
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. . ♙ . . ♘ . .
♙ ♙ . . . ♙ ♙ ♙
♖ ♘ ♗ ♕ ♔ ♗ . ♖
Problem here is that the symbols are a strange width, even in a fixed font…
Indeed – but just feel the quality.
♜ . ♝ . ♚ . ♞ ♜
♟ ♟ ♟ ♟ ♛ ♟ ♟ ♟
. . ♞ . ♟ . . .
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♙ ♙ . . . ♙ ♙ ♙
♖ ♘ ♗ ♕ ♔ ♗ . ♖
♝
A thousand apologies, mon ami, an urgent matter of state had to be dealt with. Ah, but I see that you are – how do say ? – a basher of the bishop, oui ?
♜ . ♝ ♚ . ♞ ♜
♟ ♟ ♟ ♟ ♛ ♟ ♟ ♟
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♙ ♙ . . . ♙ ♙ ♙
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Bishops, Queens, Horses, I do ‘em all.
It is well, I think, that there are no sheep in this game.
♙
♜ . ♝ . ♚ . . ♜
♟ ♟ ♟ ♟ ♛ ♟ ♟ ♟
. . . . ♟ ♞ . .
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. . ♘ . . ♘ . .
♙ ♙ . . . ♙ ♙ ♙
♖ . . ♕ ♔ ♗ . ♖
♝
No room for sheep in this game…
Sorry, trouble with the modbot scripts there…
No room for sheep in this game…but there is plenty of pawn…
I played Short Nigel once, you know. He had to sit on a booster cushion.
Did you ever play that Viktor Norchkoi ? He was always carping on about something or other.
Let’s see if the modbot likes that.
That Anatoly fellow was just as bad; and Vassily Ivanachuk really made me sick.
Oh heavens, now what did I say ?
Perhaps the modbot wants a game?
Perhaps it takes exception to my opinions of people like Gashimov, who I find quite vulgar.
I think you are getting messages in your yoghurt. I demand all milk based snacks are banned from the stage.
I deny it all, of course. Meanwhile, another little affair required my attention.
Hmm … you know, I think it is time to admit defeat and retire gracefully.
You played well, sir, and I started badly. Thank you for the game. Perhaps we may meet again some day.
So you see, boys and girls, what happens when you enter into battle with no clear plan. Miliband Minimus take note.
Au revoir.
(Je viens, minou.)
A graceful retreat, sir.
I apologise for and retract all the yoghurt allegations – that was a nasty Russian trick and most unwarranted.
À la prochaine
I don’t play Bridge, unfortunately, but that’s very impressive all the same.
7 No trumps
Mornington Crescent has come on a lot since my day
You could if you cheated- Only 51 cards (no jack of clubs) N has 15 cards, W has 12 and S inly 11. Unplayable hand.
I’m in two minds about this, because there are 2 quite strong arguments, and even though they conflict with each other, I agree with both, so it’s hard to reconcile:
1) It wasn’t Hester’s fault that the bank fucked up, he wasn’t the boss at the time of all the fuck-ups, he’s been bought in specifically to fix the results of someone else’s fuck-ups (ie that of the labour government, and goodwin), and if he ultimately makes, say, £500million quid for the tax-payer by doing a good job which leads to a good deal when the government passes it back to the tax-payer then a £1million bonus is easily a fair payment/bonus (in fact if it was me I’d want 10% of whatever I save/make for the tax payer). So, in that sense, he’s got a right to that money, he’s earned it and he deserves it.
but then on the other side you have this:
2) The way that he’s saved/made most of the money for the tax-payer/bank is by making lots of people redundant, and I don’t think it’s right that someone should be rewarded massively simply for firing a load of staff to save money. Companies often do this; they hire a hatchet-man at massive company expense who simply sends a letter to all the departments telling them to lay-off 10% of their staff, then gets a huge bonus, then fucks off. Anyone can do that; I wish I could get a million quid bonus just for sending a couple of letters to some department heads telling them to lay off some staff and to be stricter with their lending practices.
Does your income always reflect your skill level or your real worth?
Why should a paramedic who saves lives every day get £30,000/year, but someone like Bill Gates who simply runs a software company earn billions?
Is Bill Gates a million times more skillful than the paramedic?
The answer is: No. Income does not reflect your worth as a person/individual, it simply reflects the accepted norm for that job and the amount of money that the kind of business you’re in generates. It’s the “norms” that are wrong and that need changing. We need to shift our attitude so that an individual’s worth to society matches their pay in a fairer way.
If you created a company that employs lots of people and which creates a service/product that helps people, then, yes, great, take lots of money, but if you’re simply the boss of a company that somebody else created and built up then you have no right to take other people’s money for doing what’s basically just a simple managerial or administrative job.
So what stopped the paramedic setting up microsoft a few years back?
I think “simply runs a software company” is somewhat understating it.
Try starting a company from scratch and building it the biggest in the world.
No disrespect intended but not to many of us could do that, including your paramedics.
Thats why those that do are so richly rewarded.
Truth is your “worth” is in reality dependent on how easily you could be replaced its got nothing to do with how hard you work or how “important” your job is.
Thats why a School crossing patrol person who does one of the most important jobs there is, charged with ensuring the safety of our children, are not in the top income bracket.
The second part of the argument is remeniscent of the reputed “turn-around” artist that Labour put into the Royal Mail. All he did was bully and reduce the workforce and raise postage rated incessantly. He never did any real modern investment or bother to introduce best practice in management (probably unknown to him). Prior to being caught out he quickly moved into the media which he has not experience in and has not been heard of since.
Yet these incompetents elevated within the Peter Principle still find good work as for example the current CEO of the RSA, another incompetent Labour stooge beloved of the BBC.
Are you refering to the snake oil salesman that is Adam Crozier perchance ?
OK, so the city is like the jungle in more sense than one…
Don’t menschion the bunnies, some are really well endowed.
Great Share! The next time I read a blog, I hope that it dneost disappoint me as much as this one. I mean, I know it was my choice to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about something that you could fix if you werent too busy looking for attention.
S6LICN vxtnqnqzxcfb
And guidos ongoing obsession with all things chuka related continues….. Your man crush is blindingly obvious.
Did he spurn your advances one night or something? How on earth he could have resisted your corpulent, acne scarred, boss eyed, greasy haired charms is quite beyond me.
Btw good work defending Hesters bonus, glad there’s some one willing to step to the plate for incompetent overpaid bankers, especially those working for a state owned bank.
Fuck off and do a decent days work Chukfuck
Johnny Herbert is a young English cesmopor who is currently based in Iceland. Until about a year ago he was studying music at Huddersfield University as a postgraduate, and was a member of the Edges Ensemble – the experimental music group attached to Huddersfield University (he appears as performer on both the group realisation of Pisaro’s Fields Have Ears 4, and on the opening piece on the recent James Saunders disc on Another Timbre). There was a concert with a couple of his pieces at the Huddersfield Festival in 2010, but as I unfortunately missed it, that’s about all I can tell you.I’m about to listen to the pieces now – thanks for reminding me of them.
He’s good copy because he’s a thick, populist fraud and it’s going
to be delicious watching him crash and burn.
So if the share price drops a bit he might only get £900,000. Still quite a good reward for failure. I would have been very happy at my job if I was given even a half million pound bonus for screwing things up. Surely a true performance bonus is only received if you do something special and you receive nothing or even have your salary reduced if you fail?
Has Umunna or his family money stashed offshore. Has he or his family avoided paying full uk tax. If someone knows the facts could they comment.
Ace up sleeve comes to mind. Time enough.
Imagine the howls from Miliband, and other loons if RBS started to lose staff if bonuses were withheld.
If you want to refuse my bonus, get my job
I didnot hear Chuka Umunna mention the huge bonuses given out when Liebore was in Government.They had thirteen years to sort it out. I remember Harriet Harman leading off about Fred Goodwin and his salary,bonuses and eyeboggling pension. She was going to take him to law but what happened?F all.
Aren’t I just a larff?!
I also remember Harman being asked in the house what Goodwin had received his Knighthood for . She lied and said it was for services to charity. Later that day her office issued a correction and admited it was for services to banking.
Harman did not make a mistake as she knew full well that the answer would embarras her and he then Government so she blatently lied.
Perhaps Peter Hain should become boss of RBS. Rumour has it that he is pretty good at redistributing a banks wealth.
Hows about if I offer to redistribute Hain?
Fred Goodwin is enjoying a strong and assured pension
Nedkrapp has the right credentials and knows his way around Monaco.
Don’t be conned by this bonus thing Guido He was given £963,000 in shares
shares that are worth 27p at the moment that equates to 3.6 million shares
at their peak they were £5.50p
look how little the shares have to rise before he starts making money
add those to the 7,400,000 shares (£2,000,000) he got last year and the share options he gets as part of his job he is fucking raking it in
and Call me Dave knows it !
if his 3.6 million shares double in value 27p to 54p he makes a million
It looks to me as if the much-vaunted Chuka Uppa knows bugger all about business or industry, and even less about his Labour mob’s previous carryings-on with banks, bankers and the other giants of British industry.
The only things we can be sure he is well-acquainted with are tax avoidance and dirty money.
Australian PM was dragged to safety through a crowd of Aboriginal protesters after being ambushed in restaurant.
No relative of Thatcher then
She just got booed at the tennis.
It’s sounds like a deliberate setup, as her and her Liebore Party poll ratings are in the toilet.
Also she was with the leader of the opposition. She lost a shoe in being handled by her bodyguard. Over-reaction comes immediately to mind, but perhaps they enjoyed it? At least she got the message, but being British born Labour stock it will make no difference as their learning curves are soooooo long and slow.
Terrible, just terrible. For Gillard. Not that when you give people ‘rights’ you should expect them to work up a healthy appetite, but Gillard has long fancied a bit of what Clark of NZ got after putting thru an Emissions Trading racket, namely a very cushy place at the rent-seeking UNO trough, and having the world now see the indigenes giving her a good jostling might just have fatally pricked her balloon. Gillard now a good bet for promoting their Rights agenda? Love it.
You fucking English send fucking Cameron to lecture us Europeans on economics.
Hester was appointed on 21 November2008
FTSE on 21/11/08 was at 3781 yesterday it was at 5723
RBS on 21/11/08 was 47p yesterday it was 27p
I might not be the brightest girl in the room but at least I know when I am being screwed.
PS Where are my fucking dividends?
This proves Cameron is a complete and utter wanker. He might not have stains on his trousers they are on top of his head.
He won’t last two minutes with Mrs Le Pen
Dear Janey,
It is so nice to hear from you and to know that your own Tourette’s disease is answering to treatment. Actually Le Pen and Cameron could do quite well together but not politically if you know what I mean.
Get Well Soon.
Was Hester’s last bonus paid in share options? If so, he’s lost more than this one is worth in the past year.
Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy ! Bring back Billy !
Hester’s bonus is a trivial detail obsessing the meeja. I have quantatively eased 275,000 such bonuses among the stupid public, with more to come to accelerate my transfer to the House of Frauds.
Good man!
Careful you are showing your true colours supporting some twat banker getting a fat bonus. Most of them should be in jail
£12million in compo for cops
Plod cash in on minor injuries
And loads of ‘overtime’ to compensate for the cuts.
The only way to reduce coppers is to take ‘em to a scrap metal merchant
http://www.thesun.co.uk/sol/homepage/news/4090432/12million-in-compensation-for-cops.html
RBS, Northern Rock etc should never have been bailed out in the first place, and then we wouldn’t need to deal with this pointless debate on bonuses.
Share price falls 50 percent equals more shares,lower price.Nice one,Mr.Hester.
If Mr. Hester needs any tax ‘planning’ advice, tell him to see me.
He’s got a shinier pate than you Sunshine
£ 963,000 ? Is that all ?
Shouldn’t President Salmond be dealing with all matters Scottish now ?
I am available to run Royal Bank of Scotland when we get our independence.
Now there’s a point when we give the “Sweaty sock’s” their barren waste land back
we need to take Our bank with us unless Alex Fishman wants to buy it off us ?
Hester is already paid to do his job. You’ll find most people are a bit pissed off about this culture of greed.
I find my anger at Hester’s unnecessary bonus dissipates when I hear a sanctimonious labour Mp going on about how awful it is and how they would have done something very different.
Recent evidence suggests that to be a big steaming lie.
In reality he would have got a bigger bonus, larger pension, and an assured knighthood.
Why are all leftwingers fucking thick, like literally financially illiterate.
If Greece defaults the whole world will collapse into depression according to the BBC. I’ve fucking heard it all now.
Why am I stuck on the same planet as these oxygen thieves.
I heard the same recording and was left in wonder as to how such thicko’s are employed even in a loony left wing public funded and biased broadcaster.
it is Friday morning and some Hunt has put it about that The Greek debt problem will be sorted this weekend.
a couple of weeks ago on a Friday it was leaked about S&P’s downgrade during market hours.
When Scotland has its independence we will not be standing for such antics on the Scottish Stock exchange.
Would you stand glaring menacingly at them with your claymore in your hand?
I always sell my shares in any company without a moments hesitation in the following circumstances:
1.if the company has missed or reduced a dividend
2. If the company share price has not doubled within three years.
All this leaking silicone is causing a slipping hazard.
WE IN LIEBOUR CONDEMN THE GREEDY BANKERS UNRESERVEDLY….
What’s this co-on Chuka thingy doing in OUR UK parliament?
Da man only 50% he no real bleck
It’s still 50% more black than Lee Jasper.
Quick, quick everyone…Alistair Campbell’s being interviewed on Radio Ulster about his depression.
Just in case you havent heard it before….
My depression was caused by numerous dodgy dossiers and lies that Tony ‘ doesn’t do God’.
Oh Good!
I’d depress the evil fu*ker even more!
Families who lost their sons in Iraq are entitled to feel depressed.
Campbell needs to stop being so fucking self indulgent.
Its not depression its concience
Given Loony Labour agreed to the bonuses when they nationalised RBS, they are now talking BS that the government can do anything. The deal they agreed would be worth 3 times what Hester is going to get with the share options.
If share value falls, Hester loses and he can’t touch any real money for 3 years. He may as well walk now and go and work for a bank that can pay him to do a job rather than listening to ‘public service’ bullshit from politicians, the same poliiticians which rake in £65k (double as ministers) a year plus gold plated pensions, expenses worth nearly if not more than their annual salary to do F all.
A bit rich ain’t you politicians…
Diane Abbott on Newsnight last night was hilarious. She denied falling asleep in the committee!
Diane as been sleeping out of context recently
And another piece of hypocrisy is listening to Lord (no less) Turner of the FSA going on about capitalism – ain’t you the idiot who sat on your ass for years doing F all about the mortgage boom.
And then Merv the King, he of BoE who did nothing about interest rates during the mortgage boom, all in the name of globalisation and keeping Brown/Milli/Balls happy with their property boom.
Surely the question Chukka should answer is “do many labour mps regret signing tax payer funded bounuses away when they were in charge of nationalising RBS ?”
Theres a clip of either the Ruin or Darling having to explain why they agreed to give bounus payments , around time of deal , and if my memory serves me well one of Darling having to explain why first multi million bounus payment was being made , better not remenisce about the “taxpayer will get more than they put in” line I think were 20mn down the pan on the overall so far .
I am reduced to politcal language on this one , Mr Hester is doing a very good job (even if share price has had a wobble today) , I do however feel that he can , although I assume others are on bounus as well in the nationalised banks , at least sense that the economy is facing difficulty , and that a little respect for the change in the situation may go a long way in improving his image .
I understand the argument about , he is of value in saving the bank and a future return back to the exchequer , as such a return in share value was going to take some time , we do not have the completed picture and a lot of bounus money has already been paid out on the labour agreement .
Hero has not won out over taking the piss in this very expensive matter of belief and trust that contrition has been expectant by the public on the whole matter of subsidising on scales of success , in circumstances very different from the financial boom days .
However i think my question above , should make the point on who signed the dam thing in the first place .
Ed has just announced that if he was Pm he would have stopped Hester’s bonus by now.
I suspect Cameron will follow this lead next week
I am a very very clever perthon! Tho clever I went thoo Oxferd.
If I were in power, Fred the Thred would not have a Knighthood! I would take it off him and thay, “No! You cannot have a Knighthood, you rotten hoodlum thcoundrel!”
I hate the Conthervativeth for giving Fred hith Knighthood. Thame on them! Thame!
I can’t be arsed to look on iPlayer, but when they were talking about the benefit cap on This Week last night, I’m sure Brillo called him Uma Chukka. Presumably she’s related to Ms Thurman. When even the BBC can’t be arsed to get your name right, you know you’re unmemorable.
Yes, he did.
I prefer to measure everything using the following formulae X divided Y=N
X= £963,000
y= £1,599.67
n= 602
X RBS Bonus to CEO
y cost of one Chuka Umunna Suit
n = number of Chuka Umunna Suits Hester can buy
So when we are dealing with any bonuses or financial numbers we must always express in number of Labours Point man.
Bit of a ‘kiss ma teef’ face from Chukky there.
Let’s have an emergency question in parlianment about what labour agreed over Stephen Hesters renumeration contract.
Brown and Darling should be made to attend and answer questions.
Let’s have no more shit from labour over this!
+1
I see that Cameron Milliband and Osborne are on a skiing trip together in a place called Davros.
I wonder who is picking up the bill?
So does this mean that Bob Crow’s minions wholly deserve their bonuses for making the trains sort of run during the Olympics?
Is the transfer window still open, maybe young chukka could go to the Italians
How far can you chukka umanna? Answer, not far enough.
As nice Mr Hester has turned down this money, can I have it?
Mind you I am not giving Mr Brown his share he was promised. I bet he made enough when he bought some of the gold he sold off for pennies. He knows a good profit when he sees one does Mr Brown. Sell cheap, keep a bit for yourself. I bet he would buy all those lovely Euros with the rest of the gold if he could get his hands on it. Yes we all trust Mr Brown and his good deals.
Mind you, I think I know one or two who would like to poke his eye out and piss on his brains.