Bosses' pay in 2007 at UK banks now receiving government support pay at UK banks receiving government pay at UK banks receiving g
upport| Sir Fred Goodwin | Group chief executive | £4,190,000 |
| Peter Cummings | Chief executive, corporate division | £2,606,000 |
| J Eric Daniels | Group chief executive | £2,884,000
|
| Steven Crawshaw | Group chief executive | £1,112,548 |
| Adam Applegarth | Chief executive | £785,000 |
Infact if you take all the Bosses' salaries for 2007, in just the banks that are now taking Government handouts, it comes to an eye-watering £22,651,120 and remember this is JUST the big bosses - the top 12 men in these companies. This figure doesn't include any other Directors or staff, just these 12 men (no women you will notice).
And what's so special about 2007? well apart from the fact that these banks were going to hell in a handcart because of their involvement in the sub-prime market, this is the last year of accounts available.
The 2008 accounts are now being reported with Barclays leading the way with a profit of £6.1 bn and what will they be paying out in salaries and bonuses? Well accouring to Forbes, Barclays are slashing the bonuses they'll pay out by 50%. Gosh that sounds good I hear you say, Barclays are taking this situation seriously but wait, earlier this year the Guardian reported that the Chief Executive of Barclays Capital, Bob Diamond, was in line for a bonus of £14.8m and no that's not a typing error - he was expected to receive a wopping £14,800,000 but now we hear that Barclays will not be paying any Bonuses to their Executive Directors. Don't feel too sorry for Bob though, I'm sure that he has some cash left out of the £22m he was paid in 2006. It is being reported in the Australian newspaper, The Age, that Barclays Capital are line to payout nearly £600m in bonuses for 2008 so maybe Bob will be lucky after all.
Do you think that's what Barclays Chief Executive John Varley means when he says that banks need to be "sensitive to the mood of the times."
Well if that's their idea of sensitivity I don't want to be around when they start playing hardball.
1 comment:
It does make your blood boil, the same people get it all time, the working class suffer once again.
They are getting richer we are getting poorer, where is it all going to end.
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