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State-owned RBS has just announced that even after making a massive loss of £3.6bn they will pay out £1.3bn in bonuses. It’s business as usual at Britain’s banks and we simply can’t tolerate this any longer. We need a new banking settlement and we need you to play your part in delivering it by sending
submitted by SocialistUnity on 25th Feb 2010 (via socialistunity.com)
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And an overwhelming 83% of respondents agreed that excessive bonuses and executive pay fuelled risk-taking, which played a major part in the economic crash. The YouGov poll, commissioned by centre-left pressure group Compass, found that 73% of voters agreed with a tax on £10,000-plus bonuses. Some 68% would
submitted by TimWorstall on 10th Sep 2009 (via timworstall.com)
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I think the following comment on Compass’s website was spot on: “A massive gap has now grown up between two things: one,reality and the leadership of Compass; and two, the views of mainstream Labour members and the leadership of Compass.” A particularly pernicious role is played by Guardian columnist John Harris, for example, his rubbishing of the
submitted by SocialistUnity on 9th May 2010 (via socialistunity.com)
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In a quite frankly shocking article, the Daily Telegraph has the story that RBS is set to pay out £1bn in bonuses to staff, just months after taking £20bn of tax payer cash to stay afloat. This number may be a reduction in previous bonuses, but this will provoke outrage as loss making bankers are receiving bonuses from tax payers despite their banks bringing the nation to it's knees in debt. I
submitted by Daniel1979Blog on 9th Feb 2009 (via daniel1979blog.blogspot.com)
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[Blogs] NOMINATE YOURSELF FOR THE COMPASS YOUTH EXECUTIVE Compass Youth Organising Committee - Elections Compass Youth has had a phenomenal year, so why not get involved and become part of the Organising Committee - Be the change! This year the Compass Youth Organising Committee elections will run alongside the timetable and democratic process for the Compass AGM. Any member of Compass who is under 31 may stand in this election and vote. Self-nominations...
submitted by Labourhome on 5th Oct 2008 (via labourhome.org)
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1
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The spirit of the season seems to have reached Compass, who have emailed me to "give a massive thank you to everyone who has supported Compass over the last 12 months". Thanks guys, I couldn't do this without the inspiration you provide...
submitted by LukeAkehurst on 21st Dec 2009 (via lukeakehurst.blogspot.com)
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1
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Compass don't seem to be making very much of the poll they got YouGov to do of Labour Party members. This is not surprising when you read the detailed results: Party members don't want post office part-privatisation, and are keen on a windfall tax, but aside from that their views will have contradicted Compass' soft left world view: They overwhelmingly think Gordon Brown is doing a good job. More ...
submitted by LukeAkehurst on 8th Mar 2009 (via lukeakehurst.blogspot.com)
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An energy trader is suing BP for unpaid bonuses of $1.1m (£700,000), claiming that he made the oil giant more than $20m of profit in a single year. It isn’t just bankers who get the bonuses you see. In fact, it’s not even only bankers that play in the markets where bankers earn bonuses. So
submitted by TimWorstall on 20th Jan 2011 (via timworstall.com)
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Compass conference Been too tired and busy to post on the Compass conference as promised.Haven't really got anything to add to what Dave said .Compass have put the main bits online, so check it out and let me know what you think in the comments .
submitted by stroppyblog on 17th Jul 2008 (via stroppyblog.blogspot.com)
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Read the resignation text by Labour MP Jon Trickett on the Compass website. Trickett resigned from Compass after his vote in favour of 42 days. I highlight:The Compass I have been a member of this last few years is one which is tolerant, generous and non-sectarian but firm in its social democratic principles. I have received a number of emails disagreeing with me about my actions in this same spir...
submitted by TheosBlog on 18th Jul 2008 (via regentsparklabour.blogspot.com)
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1
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Nick Clegg, Liberal Democrat leader, unveils his plans to crackdown on banker excess by banning all bonuses at board level and stopping loss-making banks from paying discretionary bonuses.
submitted by FT on 12th Apr 2010 (via traxfer.ft.com)

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