Jump to content

Gemmil to get a 10% bonus this Friday


Jusoda Kid
 Share

Recommended Posts

  • Replies 156
  • Created
  • Last Reply

Top Posters In This Topic

10% bonus where what when eh?

 

 

The decision to award most staff at nationalised bank Northern Rock a 10% bonus is "indefensible", the Liberal Democrats have said.

 

Treasury spokesman Vince Cable said: "This is bringing the worst of the City bonus culture into a public body."

 

But the Unite trade union argued the bonus, which follows an agreement with the Treasury, was a fitting reward for "hard work and dedication".

 

Gordon Brown's spokesman said it was a "matter for Northern Rock".

 

Loan repayments

 

The bonuses are due to be paid to staff on Friday.

 

Northern Rock was nationalised in February 2008 after a run on the bank in 2007.

 

Once Britain's fifth-biggest home loan provider, it was taken into public ownership after it failed to find a suitable buyer from the private sector.

 

A Northern Rock spokesman refused to be drawn on how much money was being paid out, but pointed out that the staff-wide bonus scheme had been announced in October.

 

He also stressed that no executives or senior management would benefit.

 

The reward comes after staff met targets on repaying the bank's £26bn loan from the government.

 

'Step in now'

 

Mr Cable said: "This is an extraordinary action from a state-owned bank which still owes billions to taxpayers.

 

"When millions of people are facing pay cuts or even unemployment, this is indefensible. The government should step in to stop this now."

 

But Unite national officer Rob MacGregor said: "Unite members and staff at the bank have worked exceptionally hard in extremely difficult circumstances.

 

"They have experienced the loss of friends and colleagues through compulsory redundancy yet have continued working solidly with dedication and commitment.

 

"These have been very difficult times and this bonus agreed with the Treasury was promised if targets were met. Their dedication and commitment has meant that they have not only achieved but exceeded the targets set."

 

Asked whether Mr Brown approved of the bonuses, the prime minister's spokesman said: "Northern Rock, as I think is well known, has repaid its debts to the government at a rate faster than originally planned for.

 

"Operational decisions such as this are a matter for Northern Rock."

Link to comment
Share on other sites

That's a new pair of designer, voleskin spatz then. ;)

 

 

Always think of that bloke kenny Everett used to do when I think of Gemmil, the one in the smoking jacket.

 

You should probably try not to think of me so much, Wacky. :) And Sammy, I don't know how you dare with those brothel-creepers you were in the last time I saw you! :victory:

Link to comment
Share on other sites

That's a new pair of designer, voleskin spatz then. ;)

 

 

Always think of that bloke kenny Everett used to do when I think of Gemmil, the one in the smoking jacket.

 

You should probably try not to think of me so much, Wacky. :) And Sammy, I don't know how you dare with those brothel-creepers you were in the last time I saw you! :victory:

 

 

Can't help it, you're infectious.

Link to comment
Share on other sites

It is rather bizarre considering their recent business practices (since being nationalised, never mind prior to that).

 

What business practices would those be, Fop? Since being nationalised that is.

 

Fopsilence

 

;)

Link to comment
Share on other sites

It is rather bizarre considering their recent business practices (since being nationalised, never mind prior to that).

 

What business practices would those be, Fop? Since being nationalised that is.

 

Fopsilence

 

;)

 

Fopnotnoticegemmill. (easy to do). :)

 

 

 

 

 

 

 

If you work there, Gemmill, you should know regarding running down the business with like thought for anything other than paying the borrowed amount, regarding lending, mortgages and repossessions.

 

 

So it's bonuses for misery and compounding the current lending/housing issues.

 

Never mind the whole taxpayers money for the bank bonus philosophy that got everyone into the current mess issue.

Link to comment
Share on other sites

Fop getting his patter directly from the Daily Mail and GMTV. ;) Quality. Fop why do you insist in putting yourself in these positions where you have to argue about a topic that you're utterly clueless about? I'm sure you think it makes you look clever that you have an opinion on everything. It doesn't.

Link to comment
Share on other sites

It is rather bizarre considering their recent business practices (since being nationalised, never mind prior to that).

 

What business practices would those be, Fop? Since being nationalised that is.

 

Fopsilence

 

;)

 

Fopnotnoticegemmill. (easy to do). :victory:

 

 

 

 

 

 

 

If you work there, Gemmill, you should know regarding running down the business with like thought for anything other than paying the borrowed amount, regarding lending, mortgages and repossessions.

 

 

So it's bonuses for misery and compounding the current lending/housing issues.

 

Never mind the whole taxpayers money for the bank bonus philosophy that got everyone into the current mess issue.

 

So are you saying the NR should have continued running the business as before and so have had the tax payer to continue bailing them out? :)

Link to comment
Share on other sites

Fop getting his patter directly from the Daily Mail and GMTV. ;) Quality. Fop why do you insist in putting yourself in these positions where you have to argue about a topic that you're utterly clueless about? I'm sure you think it makes you look clever that you have an opinion on everything. It doesn't.

 

Are you saying they haven't been doing that then?

Link to comment
Share on other sites

It is rather bizarre considering their recent business practices (since being nationalised, never mind prior to that).

 

What business practices would those be, Fop? Since being nationalised that is.

 

Fopsilence

 

;)

 

Fopnotnoticegemmill. (easy to do). :victory:

 

 

 

 

 

 

 

If you work there, Gemmill, you should know regarding running down the business with like thought for anything other than paying the borrowed amount, regarding lending, mortgages and repossessions.

 

 

So it's bonuses for misery and compounding the current lending/housing issues.

 

Never mind the whole taxpayers money for the bank bonus philosophy that got everyone into the current mess issue.

 

So are you saying the NR should have continued running the business as before and so have had the tax payer to continue bailing them out? :)

 

No, but then that's not the same thing at all.

 

They've had their wrist slapped for the repossession issue by the Government (well above the banking average), and for some of the tactics they've used to unload mortgages - which helped in the sense of paying off NR debt (hence this bonus), but not in the sense of the economy or people's welfare.

 

Which wouldn't be so bad, but the people suffering are the owners of NR (and are paying said bonuses).

 

 

 

 

 

Really if the usual suspects what to argue with Fop, then you should pick an issue where you have some firm ground under you.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.