Cempaka Belanda: Government cuts bonuses at ABN Amro bank

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Wednesday, January 20, 2010

Government cuts bonuses at ABN Amro bank

NRC International, 20 January 2010 12:44, By our news staff

Minister of finance Wouter Bos. (Photo Roel Rozenburg)

Archive - Dutch bankers' bonuses don't suffer from crisis
Archive - Bankers cap their own bonuses in the Netherlands

Finance minister Wouter Bos has capped bonuses at the nationalised ABN Amro bank.

ABN Amro managers’ bonus packages will no longer exceed 60 percent of their fixed salaries, and will only be paid if they perform above expectations. Merely meeting one’s targets will only merit a bonus worth 50 percent.

Finance minister Wouter Bos announced the new remuneration plan for the nationalised bank in a letter to parliament on Tuesday.

The bonus payouts are lower than agreed on by Dutch banks in a system of self-imposed system of regulations, which capped bonuses at 100 percent of fixed salaries.

The new bonus payouts are also far less lucrative than those common before October 2008, when the bank was nationalised after the credit crisis hit. In 2006, members of the board chaired by Rijkman Groenink, received bonuses worth 125 percent of their fixed salaries.

Perverse incentives

According to Bos, ABN Amro will now follow a remuneration policy that “is in line with current thought on sustainable remuneration, and is a clear break with the past, while still standing in proper relation to relevant job markets”.

The new policy will be instituted retroactively per January 1, 2009 for members of the board. Lower management will be affected as of January 1 this year. According to the minister, the new remuneration policy “avoids creating perverse incentives” with payouts dependent on “clearly defined criteria”, in line with long term objectives relevant to “all stakeholders involved in the company”, including employees and clients.

The remuneration scheme contains another novelty: the supervisory board will have authority to adjust bonus payouts if it feels they would lead to “undesirable or unintended consequences.” If a bonus was paid based on financial data which later turned out to be incorrect, the supervisory board can demand repayment of the money.

A big pay raise

According to Bos, total variable payouts to senior management will be effectively reduced by 65 percent. The same cannot be said for fixed salaries. A normal member of the board will earn 600,000 euros under government ownership. In 2007, when the board was still chaired by Groenink, members earned 667,000 euros, 11 percent more than they do now. Still, for most members of the board, the current salary amounts to a substantial pay rise from their former positions at other Dutch companies.

Former finance minister Gerrit Zalm, chairman of the board of ABN Amro, will be making 750,000 euros, equal to what he received as financial director for the now defunct DSB Bank.

Zalm’s bonus will be determined by a special remuneration scheme Bos already announced in September. His payout will be determined by the amount of money the Dutch government will make from the sale of ABN Amro. Zalm will receive 100,000 euros for every billion euros in profit the government makes, up to a maximum of 375,000 euros per year.

Related Articles:
Dutch support for Obama plan to restrict banks

Salaries cut for Dutch bank's executives

Rabobank faced walkout after cutting bonuses

Europe Applauds Obama Bank Initiative, But Seeks Global Pact

President Barack Obama proposes sweeping new curbs on banks' activities
Obama to outline new limits on bank risk-taking

WASHINGTON (Reuters) - President Barack Obama told top U.S. bankers on Monday they owed it to the country to help lift the economy out of crisis by lending more money to small businesses in need and embracing financial reforms.