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Original poster

Anyone have the energy to discuss the Goldman sacs bonuses?

107 replies

1dilemma · 17/12/2008 23:17

I heard this as I was running out of the house so I'm not giving super accurate figures, it's over 100,000 pounds on average isn't it (and no doubt to be replicated in many banks), nurses have been capped below inflation for 3 years I believe (admittedly a poor decision by their leaders but....) and over 25,000 Woolies staff are loosing their jobs. In the light of the global financial situation and the gov bailouts it's not really OK is it?
I feel for the poor Woolies staff, what a time to hear such news.

OP posts:
KerryMum · 17/12/2008 23:28

This reply has been deleted

Message withdrawn at poster's request.

Kevlarhead · 17/12/2008 23:58

Round them up.

Shut them in a van.

Drive it to the Scottish Highlands.

Open the van.

Give them 20mins head start.

Hunt them down with dogs.

TheCrackFox · 18/12/2008 00:02

20 minutes? Far too generous. Give them 10 and hunt them down with tigers.

KerryMum · 18/12/2008 00:02

This reply has been deleted

Message withdrawn at poster's request.

Kevlarhead · 18/12/2008 00:59

I'm going to be filming this and selling the footage to Sky; if they all get gunned down before the first ad break I won't make any money.

expatinscotland · 18/12/2008 01:07

What a bunch of wank stains.

Government bails them out, but everyone else can go to the dogs.

We see it.

MadamDeathstarOverBethlehem · 18/12/2008 03:50

The CEOs of Ford etc. who asked the US government for bail out money were only going to take 1 dollar pay a year for the next few years if they had got the money. I have a lot more respect for them than I had previously and zero for the banks.

NotQuiteCockney · 18/12/2008 07:01

Goldmans didn't take the government money, did they? Not from the UK gov't, or the US gov't, afaik ...

wannaBe · 18/12/2008 07:10

goldmans weren't baled out by the government though.

Dh has a friend who works there and the bonuses were apparently not anywhere near what they were last year (and gs are renouned for paying the best bonuses in the city, but also demanding the most work). he doesn't earn anywhere near the "average" salary of £240k though.

GS made a loss for the first time this year and yet they've still paid their staff a bonus - and directors aside, for the rest of the staff this will ensure goodwill.

People getting bonuses should be considering themselves lucky I agree, esp in a climate where others are losing their jobs. But I don't think it's fair to suggest that some people shouldn't be getting bonuses because others are losing their jobs somewhere else.

NotQuiteCockney · 18/12/2008 07:28

I used to work at Goldmans (although I was always a contractor, so no bonuses for me).

The staff are the most valuable asset this sort of company has.

The companies that took the gov't money, and hence can't pay bonuses, make sensible choices about loans, etc etc, are totally screwed.

spokette · 18/12/2008 08:17

My friend works for one of these city firms. The CEO is paying himself 200% bonus, the VPs are getting 100% and the other senior directors are getting 50% bonuses. My friend manages one person, earns over £150k and is getting 50% bonus. He hates his job because he bored (he takes care of IT equipment and orders the latest gizmo for the CEO).

Even he thinks it is scandalous but is taking the money because he reckons this time next year, the company will go bust. So those in charge are feathering their nests because they know the writing is on the wall.

It is obscene and it is incredulous that they can do this and get away with it. I thought bonuses were suppose to be about rewarding achievement.

Oh, the minions get very little or nothing - just get told to be lucky to have a job.

needmorecoffee · 18/12/2008 08:49

it is an acheivment fucking up the economy! Seems to me the richer you are, the more you get paid for fuckups.

Litchick · 18/12/2008 09:53

Goldmas didn't take any bail out money - they didn't need to as they aren't in trouble.

mysterymoniker · 18/12/2008 09:55

I don't think they really did fling themselves out of their office buildings, that is a myth

drivinmecrazy · 18/12/2008 09:59

My neighbours son-in-law has just been made redundant by GS, how must he and his family be feeling seeing this? Makes me so angry.
DHs company has just laid off 9 people, then the HR director goes off on holiday. LOVELY.
It seems the people at the top of the food chain are definately not leading by example.

purplemonkeydishwasher · 18/12/2008 09:59

surely though it's not just the big wigs that are getting the bonuses. it'll be all the lowly underlings as well who have nothing to do witht he problems they just go to work just like they always have.

my DH works for a finance company (not any of the ones that were in bother) in IT. He doesn't make a lot of money. the christmas bonus is a life saver for us.

edam · 18/12/2008 10:00

Can't see any justification for paying directors any bonuses at all if the company has made a loss. Beyond sheer greed.

Thing is, in the end it all comes out of OUR pension schemes. Out of the savings and investments of ordinary people and the company profits generated by ordinary workers.

When workers are sacked, we are told it's a business decision and the bosses have to make tough choices. On the rare occasion that a boss who fucks up has to leave, they get a massive pay-off. In what kind of world does that make any sense at all?

Tortington · 18/12/2008 10:01

can someone set me straight becuase i want to be outraged - but can't see it...

with this partic company - that hasn't been bailed out, why can't they pay bonuses - even if they made a loss - its a business decision which doesn't affect me or take any of my money as a tax payer - does it?

edam · 18/12/2008 10:03

It does take your money if you have a pension. Or any savings or investments.

Tortington · 18/12/2008 10:10

is that becuase the money they pay on bonuses should have gonei nto my pension?

wannaBe · 18/12/2008 10:12

but redundancies might not have anything to do with the economy.

These companies are making people redundant all the time - it is common place for a company like GS to make 10% of its work force redundant every year. The only reason it's being announced now is because of other things that are going on in the economy.

CruellaDevile · 18/12/2008 10:15

I don't see why it's got anything to do with us tbh. If a company which has NOT taken money from the govt wants to pay bonuses to its staff that's their affair, surely?

And as for redundancies and HR person going on holiday, well, people are ALLOWED to go on holiday you know!

happywomble · 18/12/2008 10:46

Unfortunately those of us in the South East are affected by the ridiculously large bonuses paid by some companies..it means there are lots of people around who have a huge amount of cash to invest in property which drags the prices up for the rest of us and normal people who do not get 100k bonuses cannot afford to buy bigger houses.

DeckTheHallsWithBling · 18/12/2008 10:52

GS hasn't been bailed out. Bonuses are low in comparison. Yes, some people will get a lot, but it will be less than previous years. As someone else already said, people are their best asset and as they've had to reduce the number of people, they will be doing whatever they can to make sure the people they've kept - who they see as the most valuable - stay. You can rant about that all you like, but we live in a capitalist society and that's how it works.

And believe me, at GS, you work for your money. Even if you're a PA, you might get paid better than a PA somewhere else, but you're probably doing 60 hour weeks at least.

needmorecoffee · 18/12/2008 11:32

when dh was working full time for a defence company which makes billions (and his work bought in millions in contracts) he used to geta tin of biscuits as a Xmas bonus.
GS workers are paid way more than dh ever was. Why can't they be happy with a tin of biscuits?

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