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Nomak

Rbs Chiefs Spending £260K At Wimbledon This Year

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Does this make anyone else sick? A lot of my good friends have been laid off in this recession, doesn't seem to affect this lot.

They're on the taxpayers payroll, shouldn't they have at least some decency?

The bank which was bailed out with £20 billion of taxpayers’ cash, faces fresh anger after laying on £260,000 of hospitality for its executives and their clients at Wimbledon.

RBS staff enjoyed champagne and lobster platters in a luxurious suite attached to Court One.

As one group of bankers strolled out late for Rafael Nadal’s match against Gilles Muller on Friday, they spoke admiringly of the gourmet menu they had just sampled.

Courting attention: bank executives and clients have enjoyed £260,000 worth of hospitality at Wimbledon

Courting attention: bank executives and clients have enjoyed £260,000 worth of hospitality at Wimbledon

One said: ‘That will keep us going for a bit.’ A colleague replied: ‘More like two weeks, you mean.’

RBS has exclusive rights to Suite H in a range of hospitality areas attached to Court One. Nearby clients include Hertz and HSBC bank.

There was a furore two years ago when The Mail on Sunday revealed details of the bank’s entertainment bill at Wimbledon.

Insensitive: Business Secretary Vince Cable described the junket as a 'self-serving extravagance'

Insensitive: Business Secretary Vince Cable described the junket as a 'self-serving extravagance'

Business Secretary Vince Cable, then the Liberal Democrat Treasury spokesman, called it ‘totally insensitive’ and said ‘the public mood will not tolerate this kind of self-serving extravagance’.

RBS axed 15,000 jobs following the bail-out. This year’s junket is understood to be costing the bank around £260,000 as part of a three-year contract with the All England Club worth £800,000.

Labour MP John Mann said: ‘These people should be spending their time lending to small business, not swanning around Wimbledon wasting money.’

Liberal Democrat MP John Thurso, a member of the Treasury Select Committee, said: ‘I accept that RBS has to foster client relationships but I don’t understand why it has to do it at one of the most expensive corporate events in the world.’

RBS was taken to the brink of collapse by former boss Sir Fred Goodwin and was only saved by a Treasury bailout in 2008 that left it 70 per cent state-owned.

The Wimbledon hospitality package gives staff access to Court One and Centre Court for 13 days of the tournament. RBS’s suite can accommodate 42 guests.

The ‘summer luncheon’ menu they are enjoying this week includes grilled fillet of West Country beef with wild mushrooms, baked Anglesey sea bass and summer veg bubble and squeak. Wines include a Chassagne-Montrachet Les Chaumes Domaine Roux and a Gevrey-Chamberlin Domaine Roux.

An RBS spokesman said: ‘We have strong links to tennis through our sponsorship of Andy Murray, making Wimbledon an important opportunity to spend time with customers.

‘We are making major savings across the bank and our sponsorship and hospitality budgets have been hugely cut back since the crisis.’

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The mystery of where the milk went to was soon cleared up. It was mixed every day into the pigs' mash. The early apples were now ripening, and the grass of the orchard was littered with windfalls. The animals had assumed as a matter of course that these would be shared out equally; one day, however, the order went forth that all the windfalls were to be collected and brought to the harness-room for the use of the pigs. At this some of the other animals murmured, but it was no use. All the pigs were in full agreement on this point, even Snowball and Napoleon. Squealer was sent to make the necessary explanations to the others.

‘Comrades!’ he cried. ‘You do not imagine, I hope, that we pigs are doing this in a spirit of selfishness and privilege? Many of us actually dislike milk and apples. I dislike them myself. Our sole object in taking these things is to preserve our health. Milk and apples (this has been proved by Science, comrades) contain substances absolutely necessary to the well-being of a pig. We pigs are brainworkers. The whole management and organisation of this farm depend on us. Day and night we are watching over your welfare. It is for your sake that we drink that milk and eat those apples. Do you know what would happen if we pigs failed in our duty? Jones would come back! Yes, Jones would come back!

George Orwell, Animal Farm

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Expect them to change? The main point of the taxpayer bailouts was to preserve their extravagances and lifestyle . As for politicians asking them to be more sensitive the politicians are just acting out their own self serving role in the greedy farce.

Edited by billybong

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Does this make anyone else sick?

Yes, it does. However, until the utterly despicable, vain and self interested population wake up and jail these ******* I will continue to not pay tax and sponge as much as I can from the "state". I will not work for these *******. I quit what is, culturally assumed to be, a "good" job in 2008 such was my disgust.

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The root cause of the problem with this kind of corporate excess is that shareholders (who own the business) allow it to take place. As an 83% (or whatever) majority shareholder Vince Cable shouldn't be pleading for restraint he should be actively stopping it from happening. Fire the chief exec, block the pay deals, insist on change!

Executive reward isn't in itself wrong, if a company is successful enough to fund it itself then great, but in the case of RBS it absolutely takes the pi$$.

Edit: SP

Edited by Voice of Reason

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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