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Northern Rock Bonuses!

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Deleted member 174041

Guest
Well done to them, wish I could take a loan out for that much and pay it so quickly :D
 

Chrisoldinho

Well-known Member
Well now that they've repaid the loan are they still nationalised or are they now a plc/private company again?

Also, now that they have repaid the loan surely they can now begin offering more deals than just a single above average SVR for existing customers.
 
D

Deleted member 297713

Guest
Very well done indeed.

It is the only organisation I know which has managed a forced ownership and at the same time force the new owners to pay them bonuses.

I need some of those business ideas.
 

Iccz

Distinguished Member
Well now that they've repaid the loan are they still nationalised or are they now a plc/private company again?

Also, now that they have repaid the loan surely they can now begin offering more deals than just a single above average SVR for existing customers.

You mean pass benefits onto the public?!?!?! :eek:
 

tony brazao

Active Member
Agreed with above comment; this is rewarding failure.

Just imagine how the people feel, who have lost their homes and were booted out by Northern Rock???

Nice to see that YOU and ME; all the tax paying people in the UK, are giving these people £8.8 million.

:confused: :confused: :confused: :confused: :confused: :confused: :confused: :confused: :confused: ? ? ? ? ? ?
 

eric pisch

Distinguished Member
Agreed with above comment; this is rewarding failure.

Just imagine how the people feel, who have lost their homes and were booted out by Northern Rock???

Nice to see that YOU and ME; all the tax paying people in the UK, are giving these people £8.8 million.

:confused: :confused: :confused: :confused: :confused: :confused: :confused: :confused: :confused: ? ? ? ? ? ?

sums it up perfectly :mad:
 

Iccz

Distinguished Member
I'd like to get a loan where I get a bonus for meeting my repayments, I wonder where I can find one of these.
 

wiz

Distinguished Member
This is obscene! :mad::mad:
 

The Dude

Distinguished Member
If the Northern Rock staff have managed to turn things around so quickly, I'd say they actually deserve the bonus.

Most people expect a payrise for continuing to do their job just (as badly) as they always have done... at least the (remaining) staff at Northern Rock have earned theirs!


This to me is a success story, everything with regards to the Northern Rock bailout is going according to plan.

Result. :smashin:
 
This is a joke

My mortgage is with Northern Rock and I am stuck on their SVR for the next year or so and they have NOT passed all of the BOE rate cuts on - its nowonder they are paying back the government by overcharging people like me!

Surely if the bank is state owned we can stop this stupid waste of 8.8m...
 

eric pisch

Distinguished Member
This is a joke

My mortgage is with Northern Rock and I am stuck on their SVR for the next year or so and they have NOT passed all of the BOE rate cuts on - its nowonder they are paying back the government by overcharging people like me!

Surely if the bank is state owned we can stop this stupid waste of 8.8m...

they thought hiding there expenses caused bad felling well this is gonna blow up in there face big time, a bank that we bailed out and as pointed out has been kicking people out of there homes is getting a massive reward of our money for paying back some of the money they owe us :mad::mad::mad::mad:

how detached from reality can they possible get :confused:
 
D

Deleted member 297713

Guest
Why stop at 10%?

Give them proper bankers bonuses for doing the job right.

Bankers..............:mad:
 

The Dude

Distinguished Member
Northern Rock are con artists... The BOE rate as it stands is

1.5%

And the SVR rate they charge is

5.09%

so they are making 3.59% on money that belongs to the governement.

The Goverment should NOT let this happen. The 8.8m should go towards helping people struggling to keep hold of their homes and not lining the pockets of BMW driving BANKERS!
 

zAndy1

Distinguished Member
Yep, saw this on the BBC website and was staggered. The government should stop this if they ever want to be taken seriously as being commited to a) sorting out the mess the economy is in and b) stopping the culture that got us into this mess in the first place. Why should they get a bloody 10% bonus for doing a good job, I do a good job but I don't get a bonus! Absolutely ridiculous
 

Boris Blank

Well-known Member
This is exactly the same sort of big business behaviour that caused the mess we are in to begin with!

Rewarding failure (and Northern Rock is a failure) is simply unacceptable, difference here is that they are now using tax payers money to pay for it instead of their own.

So lets see, a year ago NR were ripping us off with high interest rates, now they are still ripping us off with high interests AND lining the pockets of their staff from the taxpayers coffers!

Its OUR money, how can NR pay a bonus having only repaid part of the loan - this is criminal this is, these people are lucky to have a job never mind a bonus! :mad:
 

Naaktgeboren

Distinguished Member
This must be hugely embarrassing for the government, surely they have a big say in what goes at NR right now and this is just scandalous.

Paying bonus's from tax payers money and not passing down the full interest rate decreases as the Government made pretty clear they expected organizations to do....

Whats that all about :confused:
 

smelly

Active Member
When the SVR remains at the level it is for NR borrowers this is just totally unacceptable and a bad bad move in the current circumstances. The only thing to say is that apparently the bonus does not extend to management or executives....only to those (in the words of the bbc) who
have experienced the loss of friends and colleagues through compulsory redundancy yet have continued working solidly with dedication and commitment

Even so I think in the circumstances no bonus should be paid...
 

Greg Hook

Moderator & Reviewer
Totally out of order. When so many shareholders who still have had nothing (and probably won't ever get anything) for their shares when the Government took ownership, this is a most unsettling move. As the UK Government owns Northern Rock, surely this will be stopped!
 

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