AIB and BoI cancel Christmas staff parties

mathepac said:
I support the cancellation as I won't now have to pay for them lorrying food and drink down their necks instead of doing the jobs they failed to do for the last few years.
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This is the kind of OTT reaction that will drive everyone to misery.

You start with public sector, extend to the banks and soon it sets a precedent for everyone.

You can control your costs through wages, it's the discretionary items like Christmas parties that have a real impact on staff morale. I certainly don't want to live in a world where workers are treated as nothing more than parasites and should have no appreciation shown to them

By using phrases like "lorrying food and drink down their necks" you are being very insincere, you are trying to make some food and a few drinks sound sinister. We all eat and drink on a regular basis, it's not evil!!

And what do you mean "instead of doing their jobs"? I'm sure 1,000s of bank employees did their jobs perfectly. You get served when you go into a bank branch don't you? Internet banking seems to work quite well to me. My ATM works every time I use it. This indicates to me that most people are doing their jobs
 
Re: AIB and BoI cancel Christmas staff parties
Originally Posted by levelpar http://www.askaboutmoney.com/showthread.php?p=959933#post959933
Why is west-brit craven ?. ...

e.g. Dr. Sir Wing-commander Professor Rear-admiral His Holiness Brigadier AJF O'Reilly, Esq.
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I don't know why you link this man's name to the word craven and I don't know why you should think the man is a west-brit considering he has been a international business player.
 

Well put. There has been deep corruption at the heart of Irish banking for many years, and we will all be paying for it for a long time, but a lot of lower paid bank staff, with no say in company policy, did their jobs, the country currently hates every last one of them, and we are begrudging them a night out with their colleagues.

I am not surprised that BOI/AIB feel than spending 40 quid per employee on a night out will be used by the media as evidence of more corruption, so the staff will have to just suck it up.
 
I hate the fact that I'm forced to pay failed Irish banks part of my income.

These failed companies should have been allowed to collapse. If they had, we may now have had new banks. I would rather a year of riots and bankruptcies, than this long drawn out death. Even after NAMA, we'll still have to give this failed companies skip loads of money. These companies are dragging the country down, and they'll continue to squeeze the life out of the economy for years to come.

I would rather not have to pay for their Christmas jollies as well.
 
levelpar said:
Why is west-brit craven ?. Also, what's wrong with being west-brit?
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Dr Sir Anthony JF O'Reilly was looking for a knighthood for years. He now has one and is looking for a peerage. It is my opinion that in this his vanity has made him very craven.

His newspaper uses English newspapers that are anti-Irish as a source for its international news and he employs anti-Irish columnists like Ruth Dudley-Edwards to write offensive vitriol and is happy for them to pass off revisionist nonsense as historically accurate.
 
Dr Sir Anthony JF O'Reilly was looking for a knighthood for years. He now has one and is looking for a peerage. It is my opinion that in this his vanity has made him very craven.
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Sorry, I thought craven meant cowardly. Guess we were not on the same page.
 
I laugh everytime I hear this said. Next thing you'll be telling us we should all save with the Credit Union.
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I don't understand your point.
If the government let the banks collapse, I would imagine new banks would take their place. Doesn't this happen in America, for example, where banks are collapsing the whole time?

We have this awful situation where the banks are collapsing anyway, even with NAMA, and they are dragging everyone else down with them, courtesy of the government.
 
levelpar said:
Sorry, I thought craven meant cowardly. Guess we were not on the same page.
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Craven in the sense that he does not do what he should as an Irishman and someone in a position of power to make sure that the truth is told. Instead he uses his newspapers as a vehicle to further his own pro-British agenda in a sycophantic and spineless way.
 
Ah, the great nation of Florida !
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What are you trying to compare?

Florida has a population of over 18 million.
Is it not reasonable to compare Ireland to just one US state? Ireland is tiny.

How about these three? - Would this be the scale you're looking for?

Lehman Brothers:$639,063,000,800 assets pre-bankruptcy (How many AIBs and BoIs it that?)
Washington Mutual (aka WaMu):$327,913,000,000 assets pre-bankruptcy
CIT Group: $71,019,200,000 assets pre-bankruptcy
 
umop3p!sdn said:
What are you trying to compare?
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The US banking market is different to Ireland in that few, if any of them, have a national significance in the same way that AIB or BoI would to Ireland.

A regional bank failure would not have the same national impact in the US as AIB or BoI in Ireland.

And it is not the volume of USD involved, rather a bank (let alone 3) that has been allowed to fail that has retail branches in the 50 states, or even Lower 48.

So, citing the example of regional or investment banks in th US that have been allowed to fail, does not, IMHO, hold as a rationale for allowing AIB or BoI fail in Ireland.
 
Tarfhead, I don't really know what example of a failed American bank you are looking for. I've given you a list of failed banks, including regional banks that could be compared to AIB and BoI. You weren't happy with this, so I provided three examples of huge American banks that collapsed. So what are you looking for?

Is it financial impact? The impact of the Lehman failure is huge, and global. Banks with retail branches? WaMu had 2,239 retail branch offices across America. Both of these had enormous national significance.

The reason I suggested that maybe AIB and BoI should have been allowed to fail, isn't because I enjoy riots and bankruptcies etc, it's because they may fail anyway, even with the bailouts and NAMA. In the process, they are dragging the rest of the country down with them. We need new banks.
 

I take it that you don't have Heinz baked beans in your cupboard
 
If the Irish retail banks had been allowed to collapse, there would have been bedlam. Everyone's savings and current accounts wiped out, no means to get paid at the end of the month. Nothing other than the change in your pocket to pay for your groceries. Civilisation as we know it would have come to an end. People would have had little options but to storm and loot food shops. We would have had retailers on the rooves of service stations scaring people off with their guns. . Never mind the fact we would have had all the bank employees and the companies which support the banks dumping all their staff on the dole queues. There would have been a massive flow of refugees over the border to the North which would set up camps which would become overwhelmed. That is not too gross an exaggeration.

The "new banks" would have been large EU banks who would have offered retail banking facilities but it would have taken time for them to be set up. These banks would be managed from Germany, Austria, France or somewhere else. To see how it would operate, read up on how the likes of Erste Bank moved into Czech Rep, Hungary, Serbia etc. following the liberalisation of Eastern markets.

The ATM and payment card networks would have gone under as they are owned by the members, i.e. the big Irish banks.
 
How many people used Lehmans for their daily banking?
Washington Mutual (aka WaMu):$327,913,000,000 assets pre-bankruptcy
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Daily banking was sold off to Chase. Also, AIB and Bank Of Ireland together command 80% of the market. WaMu did not have such dominance.
CIT Group: $71,019,200,000 assets pre-bankruptcy
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I went for a job with them in their office in Blackrock. For a start they're not bankrupt and secondly, they seem only to offer finance for airlines to buy aircraft and for consumers to buy Dell computers.

None of your examples are relevant.
 
None of your examples are relevant.
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You forgot the list I originally posted:
http://www.fdic.gov/bank/individual/failed/banklist.html

I know all this stuff. I don't disagree with any of it.

All this stuff could still happen anyway, that's my point.


A market that's dominated 80% by two players is a terrible situation to be in. This needs (needed) to be urgently addressed. Look where it's got us now.
 
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