So, Stephen Hester, boss of RBS, has bowed to the political pressure and waived his right to his bonus.
No doubt there'll be plenty of politicians and tabloid 'journalists' (I use the term loosely) congratulating themselves that their combined efforts have brought about this decision.
It is a hollow 'victory'. He's an excellent CEO and will probably choose to go elsewhere (who could blame him?)- somewhere his skills will be better valued and where he'll relatively free from interference. Who will want to take his place? - there are plenty of easier jobs in banking which pay much more money (Barclays for example) so they only way to attract decent talent will be to pay considerably MORE than they've been paying Hester.
No exactly a victory for common sense, is it? Perhaps I'm naive to expect any common sense from politicians and journalists (with a few notable exceptions).
Monday, 30 January 2012
Wednesday, 11 January 2012
Hello and Welcome
Hello there!
Welcome to our new blog.
Our goal is to educate and entertain our followers with practical tips, advice, thoughts and comments on the financial world and beyond - helping you to be truly Clever With Money.
Your thoughts and comments are always welcome so feel free to express your opinion, join the debates and suggest topics that you'd like to see covered in future posts.
Thanks for reading - please sign up as a follower if you want to become Clever With Money
Steve
Welcome to our new blog.
Our goal is to educate and entertain our followers with practical tips, advice, thoughts and comments on the financial world and beyond - helping you to be truly Clever With Money.
Your thoughts and comments are always welcome so feel free to express your opinion, join the debates and suggest topics that you'd like to see covered in future posts.
Thanks for reading - please sign up as a follower if you want to become Clever With Money
Steve
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