05 November 2008

More of the same

I thought that this kind of nonsense was supposed to stop. The Guardian reports:
Stephen Hester, the new boss parachuted into Royal Bank of Scotland, has been hired on a salary of £1.2m and been awarded shares worth more than £6m to overhaul the bank.
Hester, who is being given 10.4m shares, yesterday hinted the beleaguered bank was on course to make its first full-year loss. The replacement for the ousted Sir Fred Goodwin is working on a new strategy that is likely to undo much of the expansion achieved by his predecessor.

and also here:
Andy Hornby, the HBOS chief executive who is leaving as a result of the Lloyds TSB rescue takeover, is to be paid £60,000 a month to remain with the combined "Bank for Britain" once the deal is completed.
Hornby will be staying for an undefined period after the takeover, scheduled to take place next year.

So Mr Hornby is all right - which will no doubt bring much comfort to the bank tellers and call centre operatives facing redundancy.

Do these guys have no sense of decency? Or of shame?

And just because it's the day of the US election, did they think that no-one would notice?

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