......... sadly, yes! LOL

BONUSES REVOLT LOOMS AT LLOYDS

Lloyds TSB chief executive Eric Daniels
Sunday May 2,2010

LLOYDS Banking Group faces an investor revolt at its annual meeting this week over its decision to award bonuses and incentive payments worth millions to its senior directors.

Tensions between investors and the bank were raised in February when Lloyds decided to award chief executive Eric Daniels a 2.3 million bonus for 2009, even though it made a 6.3 billion loss for the year. The loss was primarily due to its disastrous acquisition of rival HBOS.

Even though Daniels waived his 2.3 million bonus following a public outcry, he did accept approximately 1.6 million of shares granted to him under the banks long-term incentive scheme.

Additionally, four other Lloyds board level directors accepted 4 million of bonuses between them.

Lloyds is also under attack from unions who accuse it of giving Daniels special treatment as it will not cap the growth of his final salary pension fund at 2 per cent a year, even though it has done this for rank and file staff.

The bank argues that since he will move to a cheaper defined contribution pension scheme in 2012, the cap should not apply.

However, the Lloyds TSB Group Union said: Any pension changes should apply to everyone equally or nobody at all. One has to question the judgment of people who believe that this is in any way morally defensible. Last week the chairman of the part-nationalised Royal Bank of Scotland conceded that many bank employees earn too much.

Sir Philip Hampton said it was very difficult to defend the massive gap between what most people earned and what some bank employees were paid.

However, he added that the banks had no choice if they wanted to retain the best people.Entvolore magnim vel irit estis adigna feu facidui tin et velesed digna facinibh ent volorem qui tet utat lor sustin estions equisit lore do core minisim dionsequis dolor iustio od ting eugait.

Looks like I was wrong there then Smartyarse - Its below 60p within two weeks ! Me old son !

wow - really got to you didn't I !! Bet you've been watching the sp for the past 2 weeks just waiting to post here. Well me old cocker - short lived. Sub 60p for as many minutes- now back up to 61.25p Hahahaha ...and will be 100p before year end. Trust me, I'm a Smartyarse !!!!!!!!!!

I was watching this morning and was expecting the early fall to be maintained and so got on with some office work. My holdings were deep in .... but my view was that a recovery would take place as the holdings were long term. I was tempted to add another chunk but thought that the early fall could be the precursor of more to come when the US opens so declined. Oh well - just have to see how things pan out now.

There's another week to go yet me old son !! - Might even see 50p, probably more like 54/55p but we'll see xx

Maybe yes or no, but GS like institutions should watch their step from now.
They cannot simply bankrupt companies to benefit 100% market cap!.....

SmartyArse - Which Year End is that then ?????

Sir Win purchased another 115,000 Ord Shs today. Eric collects a 2.5m Bonus when sp reaches 114p. This share really is a no brainer!!

Looks like he may be waiting a while ! But if it drops to 40p I might have a punt .

Yep, sub 50p well worth buying, imo.

Hang in there Harrycat, these will be sub 30p the way there going.

Patience is starting to pay off - 80p soon!!!!!!!!!!!!
Overperforming the rest of the market now!

agree never got below 50p will climb again slowly, not sure about 80p but back to 65p on cards. hope it takes barc with it.

Balerboy LLOY have been below 50p as recently as 25th May.

didn't stop there long though..

back in this one in front of interim results, can't see much downside if you discount all the waffle about europe and political dithering re bank regulation.

Hi All
What date is the interim results, please.

interim results due to be announced on 4th august.

LLOY jumped up over the last few days with a nice +2.5 today.
Decided to bank the profits on my longs and will wait for the next pullback to buy back in again. I think it's only up today because of a benign US from last night and BP recovering. Budget next week and so another big question to be digested.