This is Obscene

[brillo]

It is far less obscene than getting a multi-million pound bonus for running a bank at a loss !!!

[Silver_Shiney]

It is far less obscene than getting a multi-million pound bonus for running a bank at a loss !!!

true....

[cornmillgirl]

What I fail to understand is the disdain shown when bankers' salaries, politicians' salaries or the salaries of captains of industry are mentioned, particularly from certain political elements. However they readily accept the astronomical salaries of pop stars, football players and media people who do less to generate the wealth and well being of the country.

Popeye and me have been saying the exact same thing OBF. I cannot believe the amount Rooney will earn, and how do you spend it, you can
only buy so many clothes, cars, jewllery and the novelty would wear off.

[kaymar]

It is far less obscene than getting a multi-million pound bonus for running a bank at a loss !!!

true....

No, completely untrue, actually, but never mind - it always makes a good headline.

[Delboy]

What I fail to understand is the disdain shown when bankers' salaries, politicians' salaries or the salaries of captains of industry are mentioned, particularly from certain political elements. However they readily accept the astronomical salaries of pop stars, football players and media people who do less to generate the wealth and well being of the country.

Popeye and me have been saying the exact same thing OBF. I cannot believe the amount Rooney will earn, and how do you spend it, you can
only buy so many clothes, cars, jewllery and the novelty would wear off.

But his playing career could be over before he reaches the age of 40.

[Susan Watt]

Well he could then get a "proper" job.

[cornmillgirl]

Well he could then get a "proper" job.

I wonder what else he could do. He would surely have so much stashed away after earning so much
he would not need to work.

[kaymar]

Delboy -"But his playing career could be over before he reaches the age of 40".


It would be nice to think, wouldn't it that, knowing his footballing career is likely to be over by the time he reaches his mid-thirties, the very-well-paid footballer would use some of his leisure time (of which he has plenty) preparing for the rest of his life by learning a new skill to enable him to start a new career when the time comes. Selling, training, plumbing, building, driving, finance, commerce - exactly what that might be would depend very much on the individual and the remuneration is likely to be considerably less than he has been accustomed to but there is no reason at all for him not to try. The fact that he has played football for 20 years does not render him incapable of earning a living by other means if he is prepared to make the effort.

[Delboy]

Delboy -"But his playing career could be over before he reaches the age of 40".


It would be nice to think, wouldn't it that, knowing his footballing career is likely to be over by the time he reaches his mid-thirties, the very-well-paid footballer would use some of his leisure time (of which he has plenty) preparing for the rest of his life by learning a new skill to enable him to start a new career when the time comes. Selling, training, plumbing, building, driving, finance, commerce - exactly what that might be would depend very much on the individual and the remuneration is likely to be considerably less than he has been accustomed to but there is no reason at all for him not to try. The fact that he has played football for 20 years does not render him incapable of earning a living by other means if he is prepared to make the effort.

I think most of the top paid professional footballers when their footballing playing careers are over, do go on to other careers, some still within the profession such as coaches or managers, others outside of the world of football. I am not sure but I think it is Frank Lampard who has recently written a series of children's books, available on Amazon and many other book retailers.

http://www.telegraph.co.uk/culture/book ... books.html

[Romig1]

His playing career could end today or tomorrow, if a sufficiently bad injury was to occur.

Which makes me think....I'm sure the club will have some sort of insurance against this...but can individual football players insure themselves against loss of future earnings?

[Silver_Shiney]

It is far less obscene than getting a multi-million pound bonus for running a bank at a loss !!!

true....

No, completely untrue, actually, but never mind - it always makes a good headline.

You've not heard of RBS, then?

[kaymar]

It is far less obscene than getting a multi-million pound bonus for running a bank at a loss !!!

true....

No, completely untrue, actually, but never mind - it always makes a good headline.

You've not heard of RBS, then?

I think Fred The Shred was the exception who gave the rest of them a bad name and made them fair game for the press from thereon. In the end, though, I believe that he got what he deserved. So, O.K. then, sorry - mostly untrue.

[Silver_Shiney]

Trust me, Kaymar, RBS is still in big difficulty yet the huge bonuses are still being paid. Fred was just high-profile but by no means the only one responsible for the mess.

There's also the Co-Op - big bonuses being paid there, yet the bank is in big trouble.

[kaymar]

His playing career could end today or tomorrow, if a sufficiently bad injury was to occur.

Which makes me think....I'm sure the club will have some sort of insurance against this...but can individual football players insure themselves against loss of future earnings?

I'm sure the club does, Romig, especially for their most expensive "assets" and equally, I'm sure that the players could insure themselves against a career-ending injury, if they were sensible enough and prepared to pay the premium.

[david63]

Trust me, Kaymar, RBS is still in big difficulty yet the huge bonuses are still being paid. Fred was just high-profile but by no means the only one responsible for the mess.

There's also the Co-Op - big bonuses being paid there, yet the bank is in big trouble.

Just because a bank is in trouble does not mean that the senior managers have not earned their bonuses - there is a possible argument that the bank could be in deeper doo-doo if the management had not done what was necessary and in doing so earned their previously agreed bonus.

However if you want to introduce the moral issue as to whether they should accept the bonuses, or whether such bonuses should filter down the "food chain", then that is another argument.

[kaymar]

Trust me, Kaymar, RBS is still in big difficulty yet the huge bonuses are still being paid. Fred was just high-profile but by no means the only one responsible for the mess.

There's also the Co-Op - big bonuses being paid there, yet the bank is in big trouble.

Yes, S.S., that's exactly the point. The current directors are presumably working very hard to sort out the mess which they inherited and turn the business round. Running a major international corporation calls for considerable knowledge and expertise and the ladies and gentlemen concerned are undoubtedly working to very demanding targets. If they exceed these targets, even if this still results in a loss, albeit considerably reduced, and in so doing improve the position of the company and its shareholders then they are perfectly entitled to whatever remuneration package they negotiated upon taking up the appointment.

[Silver_Shiney]

Trust me, Kaymar, RBS is still in big difficulty yet the huge bonuses are still being paid. Fred was just high-profile but by no means the only one responsible for the mess.

There's also the Co-Op - big bonuses being paid there, yet the bank is in big trouble.

Yes, S.S., that's exactly the point. The current directors are presumably working very hard to sort out the mess which they inherited and turn the business round. Running a major international corporation calls for considerable knowledge and expertise and the ladies and gentlemen concerned are undoubtedly working to very demanding targets. If they exceed these targets, even if this still results in a loss, albeit considerably reduced, and in so doing improve the position of the company and its shareholders then they are perfectly entitled to whatever remuneration package they negotiated upon taking up the appointment.

As David rightly says, it is possible that the banks' troubles would be even worse if people at the top were not doing their job properly, however if the bank is in a position to pay large bonuses, they should be first using that money to clear the debt. Again, as David says, the morality of accepting such bonuses is another question.

[Dark Knight]

a recent survey showed over 1 million people earn over £100,000 a year
it is just the way of the world now, they pay the bonuses to keep the people they want, as does every other bank, if they didnt pay it, nobody would work for them....simples

[Silver_Shiney]

that it is undoubtedly the way of world does not make it right

[david63]

Personally I do not have an issue with anyone being paid what has been agreed in their contract if they achieve the targets that they are set. My concern is whether the targets are actual targets or are pseudo targets that are done in such a way to pay people without them actually having to get off their backsides and do some work.