does this make anyone else physically sick - it should.

[Franko]

Yes that's all well and good.  He has just cut 2000 jobs in Ulster Bank in Ireland. The average salary for a new start in retail banking is £15k pa. His remuneration this year would have held on to 144 of these people.  That also blows the argument about taxable income out of the water.

£2bn profits gained by sacking the low paid and all the time getting almost £2m a year for doing it.

The pricks on here applauding this need to have a look at themselves.

[Nally Stand]

Sweet f**k how anybody, particularly in Ireland of all places, could defend this gross overpayment using taxpayers money is beyond me. Staggering.

[nifan]

Would the taxpayer prefer if they had made another  1.6bn loss but the boss was only getting average wage?

[thewobbler]

Yes that's all well and good.  He has just cut 2000 jobs in Ulster Bank in Ireland. The average salary for a new start in retail banking is £15k pa. His remuneration this year would have held on to 144 of these people.  That also blows the argument about taxable income out of the water.

£2bn profits gained by sacking the low paid and all the time getting almost £2m a year for doing it.

The pricks on here applauding this need to have a look at themselves.

Nobody is applauding this. But that bank is owned by the public, and if it's found that it can run at greater profitability and greater efficiency with 2,000 less staff, then it's in the company's interests, and in public interests, to reduce staff. Sorry to tell you Franko, but that's just simple economics.

[seafoid]

RBS is a mess. Hester's job is to return it to a state where the UK government can sell it back to private ownership.
Nally Stand could take over and run it into the ground. The taxpayer could take up the tab.

[thebigfella]

RBS is a mess. Hester's job is to return it to a state where the UK government can sell it back to private ownership.
Nally Stand could take over and run it into the ground. The taxpayer could take up the tab.

Finally the penny drops 

[johnneycool]

RBS is a mess. Hester's job is to return it to a state where the UK government can sell it back to private ownership for a fraction of what the tax payer has pumped into it.

Just adding a bit of clarity.

[Nally Stand]

RBS is a mess. Hester's job is to return it to a state where the UK government can sell it back to private ownership.
Nally Stand could take over and run it into the ground. The taxpayer could take up the tab.

Would the taxpayer prefer if they had made another  1.6bn loss but the boss was only getting average wage?

So basically what you are saying is that giving one single individual any less than £7.3m from taxpayer coffers in one year to run a bank, would mean that bank would inevitably be run into the ground? This really does beggar belief that any Irish people could defend this on the back of what we are currently going through. FF will be back in power before we know it.

Nifan, nobody is suggesting paying the man an average wage, as I suspect you know, but to imply that if he didn't get the full amount of this scandalous bonus, that the bank would inevitably make a 1.6bn loss is being sensationalist/facetious in the extreme.

[EC Unique]

Yes that's all well and good.  He has just cut 2000 jobs in Ulster Bank in Ireland. The average salary for a new start in retail banking is £15k pa. His remuneration this year would have held on to 144 of these people.  That also blows the argument about taxable income out of the water.

£2bn profits gained by sacking the low paid and all the time getting almost £2m a year for doing it.

The pricks on here applauding this need to have a look at themselves.

I'm pretty sure it would have been written into his contract that he would be due a bonus if certain targets were met. He has obviously met them so fair play. As for the job losses, well if the business can run more efficiently without these people then tough sh1t! It is a business not a charity..

[thebigfella]

RBS is a mess. Hester's job is to return it to a state where the UK government can sell it back to private ownership.
Nally Stand could take over and run it into the ground. The taxpayer could take up the tab.

Would the taxpayer prefer if they had made another  1.6bn loss but the boss was only getting average wage?

So basically what you are saying is that giving one single individual any less than £7.3m from taxpayer coffers in one year to run a bank, would mean that bank would inevitably be run into the ground? This really does beggar belief that any Irish people could defend this on the back of what we are currently going through. FF will be back in power before we know it.

Nifan, nobody is suggesting paying the man an average wage, as I suspect you know, but to imply that if he didn't get the full amount of this scandalous bonus, that the bank would inevitably make a 1.6bn loss is being sensationalist/facetious in the extreme.

It's not 7.3 but has the potential to be.

[theticklemister]

There would be no need for these f**king job losses if the bankers had run the banks properly. Hester is just one of many CEOs who earn such extravagant money. The money these men earn are off the back of working class people who are now out of a job due to the banking system.

I really can't believe there is an 80-20 split here in favour of Hester. Ye lot make my f**king blood boil. Supporting him is supporting the right-wing governments of britain and ireland.

[Franko]

Yes that's all well and good.  He has just cut 2000 jobs in Ulster Bank in Ireland. The average salary for a new start in retail banking is £15k pa. His remuneration this year would have held on to 144 of these people.  That also blows the argument about taxable income out of the water.

£2bn profits gained by sacking the low paid and all the time getting almost £2m a year for doing it.

The pricks on here applauding this need to have a look at themselves.

I'm pretty sure it would have been written into his contract that he would be due a bonus if certain targets were met. He has obviously met them so fair play. As for the job losses, well if the business can run more efficiently without these people then tough sh1t! It is a business not a charity..

Of course he would be due a bonus - but £1m bonus (on top of a £1m+) salary - that's the problem.  And yes - it's a business, but the fact that it's still a business is due to the charity of the taxpayer.

If the taxpayer had than the same 'hard faced' capitalistic look at things in 2008 RBS would be a distant memory.

[nifan]

Nifan, nobody is suggesting paying the man an average wage, as I suspect you know, but to imply that if he didn't get the full amount of this scandalous bonus, that the bank would inevitably make a 1.6bn loss is being sensationalist/facetious in the extreme.

I didnt say it would lead to that loss, I asked would they be. From what ive heard from a number of people since this was reported makes me think they almost would.

[thebigfella]

There would be no need for these f**king job losses if the bankers had run the banks properly. Hester is just one of many CEOs who earn such extravagant money. The money these men earn are off the back of working class people who are now out of a job due to the banking system.

I really can't believe there is an 80-20 split here in favour of Hester. Ye lot make my f**king blood boil. Supporting him is supporting the right-wing governments of britain and ireland.

This sh1te sickens my hole - I don't see to may working class people in society any more. We are mostly middle class or useless scum 

[Franko]

Would the core rationale for a public company not be to deliver the best return on investment for shareholders?

In that case I'd like to see what the criteria were for his bonus award as RBS shares fell by approx 50% in 2011.