Hypocrites and Hester


All of this moral outrage about the £963,000 share bonus awarded to the boss of the Royal Bank of Scotland (RBS) - Stephen Hester - leaves me with decidedly mixed emotions.

Because while I think many top executives are over-paid and over-rewarded - this is not a new phenomenon - the issue has been around for some time and is clearly not restricted to the banking sector.

The fact is that Stephen Hester was 'head-hunted' to take on the RBS job by the last Labour government - and he was assured of a pay package worth at least as much as the job he was leaving in the private sector.

So while the whole issue of top executives' pay seems completely crazy to me - there is little to be gained from turning Stephen Hester in another 'whipping dog' - another Fred Goodwin.

Except a lot of self-righteous sound and fury.

I imagine this won't stop a whole variety of people putting the boot in nonetheless - life and politics being what it is these days.

But where was the same moral outrage when a £500,000 golden goodbye package was paid to a senior official in Glasgow recently?

One who was at the head of an organisation set up specifically to tackle poverty and deprivation in the city - whose hands were not tied by contractual obligations and who used their discretion to boost the boss's pension pot by over £200,000.  

The decision was taken by a board involving three Labour councillors from Glasgow City Council - the money used was intended to go towards refurbishing a local school in Dalmarnock - and the official was not the head of a worldwide, multi-billion pound business.

See posts dated 16 and 17 January 2012 - 'Death Wish 2012'.

Yet despite the highly questionable behaviour involved - the public outrage has been minimal.

Has anyone noticed the Labour party and the trade unions queueing to condemn what was going on - in the heart of one of the most deprived areas of Glasgow?

Not that I've noticed.

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