Thursday, Nov 22, 2007
Git
FT.com: Rock chief could get £380,000 pay-off
Adam Applegarth, the chief of Northern Rock, looks set to get as much as £380,000 when he leaves the embattled bank next year, in spite of claims that any payment would be an “insult” to the millions who have suffered from the lender’s turmoil.
Posted by dohousescrashinthewoods @ 06:40 AM (509 views) Add Comment
6 Comments
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1. dohousescrashinthewoods said...
My mistake:
FT.com: Rock chief could get £380,000 pay-off
2. Orwell said...
And so he should. He will have a very expensive retirement to cater for not like the shareholders who entrusted their money to the company... I don't know how much very good Bordeaux costs these days.
3. Rubberneck said...
Maybe Mr Applegarth and Steve McClaren can pool their pay-offs and start a management consultancy, large scale f*ck ups a speciality.
4. tyrellcorporation said...
Isn't Steve McClaren going to get a £2.5m pay off for failing to get England through to Euro 2008? It is the Age of Unreason after all.
5. inbreda said...
Given that the taxpayers have all had to blow money on this thanks to the government, I think the maximum number of people who could possibly be insulted have already been covered. The Hood might as well try for a couple of million - in for a penny...
6. Icarus said...
£380,000 plus the £3 million he got for unloading his Crock shares at their zenith, plus salaries, shares and bonuses he received during his tenure. It's been proved time and time again that the best way to get rich is to gamble with Other People's Money. You make hay on the upswing and 'spend more time' with your wealth on the downswing.