Stephen Hester being portrayed as some sort of pariah figure by Miliband and his cronies......
Hester forced into a corner. And forced into relinquishing his bonus. Clearly a capable man. Clearly an exceptionally bright banking brain. Clearly a diligent, determined and resourceful leader.....
But because Miliband and his like, chips hanging off each shoulder, spy a "soft target", Mr Hester is thrust unfairly into an unfair situation.....
Mr Miliband, have you looked at the bigger picture ? We, the taxpayer, own a massive chunk of RBS. As a shareholder, I am keen that companies that I "invest" in (for choice, or otherwise) are managed by the best. The clearest heads. The wisest minds. Men and women with the skill and acumen of Stephen Hester......
Now what happens ?? Mr Hester, I should imagine, will be out of RBS as soon as he can possibly extricate himself. To head up an organisation where he is appreciated. And where every sentence of his contract is not pored over by politicians and journalists alike. As shareholders, we will lose a good man....
And who on earth will replace him ?? They are not exactly going to be queuing up across the Square Mile for this position. "Mr Banker, your bonus will be X. Unless political pressure deems otherwise. In which case an embarrassing and very public charade will be played out across the media and the back benches...."
Alluring ?? Methinks not. Short termist points scoring from the "chippy" has endangered the long term performance of what, for better or worse, is an asset that we all have a stake in. Short termist. And petty. And typical....
To attract and retain the best people, it is required that the most alluring of salary packages and bonuses are available. Basic business sense. RBS will struggle now. Hester will be gone, a good man lost to the political whims of the left. And many of the other senior executives will probably, as I write, be considering their future......
Tom Bradby, the ITN correspondent, summed it up perfectly via Twitter yesterday. "If the Board sets the pay of leading execs, it's a bank. If politicians do, it's a government department".....
A ridiculous points scoring exercise, without regard or thought for the longer term. But that, I guess, is what politics is so often about. Sad, mad, bad.....
Frozen out there this morning. But clear. A lovely morning for a run. If there can ever be such a thing. A couple of people whose lives have been entwined with the fabric of racing in this country have made an extraordinarily generous sponsorship donation. Which has polarised the mind.......
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