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[omega3000]

Dont forget thats on top of his £1.2 m "basic salary" 

http://www.bbc.co.uk/go/rss/int/news/-/news/uk-politics-16752358

"We need to pay him that bonus because we can't afford for him to leave

[Varche]

Isn't a salary what you get paid for doing your job?

(see the Olympics post)

[Field Marshal Dr. Opti]

RBS have laid off thousands of people and the share price is a mere shadow of it's former self.  Only in the world of greedy banking is reward for incompetence and failure the norm.

........and let's not forget that RBS is 81% taxpayer owned

It beggars belief that this payout was allowed.  

[Field Marshal Dr. Opti]

It's basically the government saying a big f**k you to the ordinary man in the street, whilst giving the likes of Hester a pat on the back.....

[omega3000]

It's basically the government saying a big f**k you to the ordinary man in the street, whilst giving the likes of Hester a pat on the back.....

In a nutshell .....yep

[Kevin Wood]

Isn't a salary what you get paid for doing your job?

(see the Olympics post)

A salary is what you get paid for doing your job well.
A bonus is what you get paid for making an exceptional contribution, above and beyond the call of duty.
A P45 is what you get for just turning up and incrementing the number of bums on seats.

Now, which of the above should he have received?

[omega3000]

Isn't a salary what you get paid for doing your job?

(see the Olympics post)

A salary is what you get paid for doing your job well.
A bonus is what you get paid for making an exceptional contribution, above and beyond the call of duty.
A P45 is what you get for just turning up and incrementing the number of bums on seats.

Now, which of the above should he have received?

Theres a bonus then theres a pizz take  seen it all heard it all ...rich get richer poor get poorer ...one reason the whole uk is going bust cos of fat cat bankers and it still continues with the bonuses they get , they have a lot to answer for esp the bank in question . Rant over 

[albitz]

Playing deivils advocate here.The bonus is in share options which he cant excircise for a couple of years.They might just be wrthless by then,unless he does a good enough job to make them worth having.The bonus is approx. half the amount he was paid (in share options) he had last year.Iirc he didnt have any bonus at all the year before.
He left a much higher paid job to take on the challenge of trying to rebuild RBS from the chaos which Fred Goodwin and his team left behind.
Goodwin was paid many millions more while he was wrecking RBS,and got a knighthood from Labour for his trouble.
The contract/terms and conditions of Hestons contract were drawn up by Labour before they left office.One of the terms was that the directors could at their discretion pay him a bonus,the amount of which would be at their discretion.
It was reported on radio 4 this morning that the board had planned on paying him £1.5 million but the Govt. argued very strongly against that and eventually they settled on the current figure. The govt. argued for less or none at all,but at that point the board threatened to resign en masse.This would almost certainly have brought about the collapse of RBS and the tapxpayers would have lost all their money.
There seems to be general agreement that he is doing a pretty decent job in the worst possible circumstances,and for someone in his position he is being paid a modest amount in comparison with his contemporaries.

[Field Marshal Dr. Opti]

Playing deivils advocate here.The bonus is in share options which he cant excircise for a couple of years.They might just be wrthless by then,unless he does a good enough job to make them worth having.The bonus is approx. half the amount he was paid (in share options) he had last year.Iirc he didnt have any bonus at all the year before.
He left a much higher paid job to take on the challenge of trying to rebuild RBS from the chaos which Fred Goodwin and his team left behind.
Goodwin was paid many millions more while he was wrecking RBS,and got a knighthood from Labour for his trouble.
The contract/terms and conditions of Hestons contract were drawn up by Labour before they left office.One of the terms was that the directors could at their discretion pay him a bonus,the amount of which would be at their discretion.
It was reported on radio 4 this morning that the board had planned on paying him £1.5 million but the Govt. argued very strongly against that and eventually they settled on the current figure. The govt. argued for less or none at all,but at that point the board threatened to resign en masse.This would almost certainly have brought about the collapse of RBS and the tapxpayers would have lost all their money.
There seems to be general agreement that he is doing a pretty decent job in the worst possible circumstances,and for someone in his position he is being paid a modest amount in comparison with his contemporaries.

I disagree with you Albs. But Then I always do...

[albitz]

Almost all of what I posted was simply stating facts,no opinions involved.

[omega3000]

Just seen the debate on the news , glad im not a shareholder  And never banked with them .

a modest amount

[albitz]

A modest amount in comparison with his contemparies. A bit pointless quoting three words from a sentence or paragraph.
I was a shareholder.Bought at around 30p and sold at around 55p.

[omega3000]

A modest amount in comparison with his contemparies. A bit pointless quoting three words from a sentence or paragraph.
I was a shareholder.Bought at around 30p and sold at around 55p.

Fred goodwin , yes set up nicely now ...

Hester , he gets paid a salary and considering the circumstances of the country should set an example and put the tax payers money back into the bank ....
Nuff said im out of here to count my coppers in me bottle       

[OOMV6]

Gotta agree with Albs. Also let's also not forget that just like Hester probably doesn't know jack sh1t about kitchen fitting, plumbing, repairing Omegas etc etc, a very large number of people reading know jack sh1t about what Hester does for a living. And that extends to the media too in many cases.
It just is a pity that everybody is so so quick to judge.

[albitz]

Fred Goodwin was his predecessor not a contempary. In 2007 (while he was in the process of wrecking RBS) Goodwin was paid £ 4.2 million, including a bonus of £2.86 million. So Heston is earning a hell of a lot less to try to sort out the utter carnage caused by Gordon Browns favourite banker.
Personally I wouldnt want his job, even if I did have the brains to be able to do it.
The waters get so muddied by the politics of envy.