Wednesday, 21 January 2009

OK Give Me A Clue, WHY Are Northern Rock Staff Getting a Ten Per Cent Bonus !

I am utterly speechless, as soon as a bankrupt entity becomes State owned they all start acting like Civil Servants.


The Penguin said...

The Penguin

Old Holborn said...

I hear Nat West staff are getting 13% pay rises

Oldrightie said...

NR are on piece work. The more repossessions they manage the bigger their bonus.

Fidothedog said...

Thats what happens when Gordon offers money with terms & conditions attached.

When they are broke they will go ask Gordon for some more of our money.

Old Holborn said...

How very "East German" of him

max the impaler said...

Well call me old fashioned, but I thought a bonus was the reward for a successful financial that wrong then.Maybe it's to compensate for the coming years inflation.Or is is just to piss away as much of other peoples money as one can.

Anonymous said...

The next election was always going to be lost.

Hand over an abortion (which is what Labour voters should have been), and then snigger as they try to patch things up.

Lazy grovelling politicians at the top, lazy grovelling untermenschen at the bottom.They see the middle classes as the shit in their sandwich.

So it's not about rewarding Northern Wreck for its sterling (if you will pardon the pun) performance.

It is about deflecting people's ire form the fact that Cyclops, that greasy, power-hungry son of a bitch did not have the balls not only to produce sound children, but to address the crisis as it emerged, eighteen months ago.

He'll throw a Nokia in public, sure, but the fact remains, he pilfered our money to prop up his sham empire. He'll blame the bankers.

Anonymous said...

we are getting a bonus because we have worked our arses off since the original run in august\sept 2007.

we have paid back the "loan" a lot faster than planned and the added interest.

yes we havent paid it all back but we remain on target to do so in the time agreed with the government.

we have all been through stressful times and i thank my lucky stars i still have a job even though i dont stand to get any pay rise or promotion in the forseeable future.

its all fine other people commenting on this but until you are in that situation then you cant understand what its like.

and just remember, we all pay taxes too so you arent the only people affected.

Anonymous said...

While I have no problem with the 'shop floor' staff at Northern Wreck getting a SMALL bonus as they were the ones who had to face & deal with irate customers when that c*** Applegarth f***** up bigtime, any of the top bods getting bonuses from my tax money for basically completely failing at their jobs is simply unacceptable. Oh wait, I forgot - NuLabour always rewards failure - that's why MPs salaries & expenses are so high

it's either banned or compulsory said...

I've heard civil service bonuses explained as being a way of rewarding them for whatever without increasing their salary linked pensions since bonuses are not pensionable.
Sounds reasonable but dunno if it's true.

Anonymous said...

Anon 22.12

You have worked your arses off ??

Well bully for you, if it had not been for our tax money, your jobs would have sunk without trace, as our are doing now.

You worked for an incompetant company, that should have gone to the wall. You should have been grateful for just keeping your jobs, not being rewarded by getting bonuses-

There are companies out here well run, decades old that are going to the wall, because of bailing out cretins like you.

Never learn never will

Anonymous said...

Probably getting bonuses for the amount of taxpayers money they can get their grubby hands on

Anonymous said...

"if it had not been for our tax money, your jobs would have sunk without trace" & "getting bonuses for the amount of taxpayers money they can get their grubby hands" - we are all tax payers so I just understand this line of argument. And the money was a loan which we are well on the way to paying back, plus the interest. A loan which other banks have since also taken.

"your jobs would have sunk without trace, as our are doing now" - if I am reading this correctly then you are going through what we went through. I can speak from first hand experience that it isnt nice and I am truly sorry for you. I have lost colleagues and friends through redundancy, some I have know since I started at the NR, some who have worked here all their adult life. It was a very stressful time and something I dont wish to go through again.

"You worked for an incompetant company" - I dont work for an incompetant company, I worked for incompetant management who have all since left. When the staff found out what was going on there was a lot of shock and then resentment for the way the company had been run. Thats why they have all gone and we appear to have people in who know what they are doing.

"There are companies out here well run, decades old that are going to the wall" - you can hardly blame the NR for other companies problems. Yes, the NR was the first to be publicly outed as being in trouble but since then many other banks have reported the same problems. You will find a lot of financial institutes took the same gambles and failed, its just we were the first to be hit by it.

"because of bailing out cretins like you." - We, the normal everyday staff, have worked hard not only over the past 18 months but for years to build this company up and to label us all cretins is ignorant. Yes, the mgmt were cretins and I wont argue with you there but dont knock the little man because at the end of the day I am just the same as you.

The bonus was agreed last year as part of the nationalisation and made public in Oct. It has only been sensalionalised because of the worsening economic crisis. It must have been a quiet news day for the press to blow it up like this. Barack Obama was made president, ongoing wars in iraq and afgahnistan, rise in knife crimes but all the news can do is spend time kicking a company when its down. Yes, by all means highlight it but cmon, move on, this isnt helping the country.

The bonus scheme was drawn up to recognise the success we have had in paying back the loan so far and it encourages us to work just has hard to pay back the rest. Its an incentive which all people need when there is a promotion\payrise freeze, how else are you supposed to reward people? A pat on the back?

And for the record, we are due to receive a further 15% once the entire loan has been repaid and another 25% when the Rock is eventually returned to the private sector. This is of course subject to mgmt approval.


Anonymous said...

Sorry but the posting above on the 23rd Jan at 09:43 was my response to the comments posted on the 22nd by Anon 09:30 & 11:34 who were in turn responding to my earlier comments...

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