I agree with Melanie - Northern Rock are an institution in the North East and have some fantastic staff. Their problems came right from the top in a crazy expansion programme involving selling their good mortgages and buying back dodgy ones from the States. However odd it may seem that staff are getting bonuses, remember 1,500 of them have lost their jobs through no fault of their own. Blame the chiefs not the indians!
I think you need to look at this with a different mind set.
Firstly - The goverment as to help banks out, if they dont, then several business go bankcrupt, if they go bankcrupt thats even more people out of Job and this country would be ten times worse.
So bearing that in mind they still need employees who no fault of their own what happened to Northern rock, now if any one works for a company thats no doing well, pwople often jump ship, so this 10% bonus is probably to thank them for their loyalty and helping them through a rough time
I can understand where people are coming from with the staff point of view. Don't forget the customers should be rewarded as well for staying with them, we obviously had no choice [:I]. The Government was urging the rates cut to be passed on by mortgage providers, yet didn't do a thing with the company they own.
You are right in saying that the staff should be rewarded for not jumping ship,it could however, have been done more discreetly, and only for front of house staff, not the big cheeses who got them into this mess to start with.
We are all working in uncertain times, and I can't see the Government bailing us out. Banks need people who are earning money to have accounts with them, we no longer have any major industry left in this country that is not foreign owned. Once they start to feel the pinch, the U.K is the first place they will streamline.
There are only so many positions available in card shops and charity shops in my region, because this is all that is left unfortunately.
Who is to say as well, that the 2nd tax payer bail out will work? If the banks don't start lending again, then we still have problems.
You are right BOT, no one will bail us out. Any industry we have is fast being moved overseas, and that which is left is either closing down or being 'streamlined'. How many car manufacturers are now having an 'extended holiday' for months?
We went in our local BHF shop yesterday to take some stuff in, and you couldn't move in there it was so crowded.
A sign of the times.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
