Feb 152009
 

Mr Brian Goggin

Chief Executive

Bank of Ireland

Dear Brian,

So there I was thinking we had nothing in common. You were a big-shot bankster, while I was just some faceless internet presence. But that all changed, Brian, when I saw you interviewed on TV during the week.

Do you remember that, Brian? Do you remember the bit where the reporter asked you if you’d be taking home less money this year, considering the fact that you presided over a total collapse of your bank’s value, and now the taxpayer has to pump billions into your bank to prop it up?

You didn’t mess around. You told him you certainly would. Your income would be substantially less than last year. That was the word you used, Brian. Substantially. A very good word, if I may say so.

Do you remember that bit, Brian?

Then he asked you how much you earned last year, and I have to confess, you started to lose me. You told him that your disclosed compensation was €2.9 million. Disclosed? Compensation? It made me wonder if you were living off some secret insurance claim instead of a salary.

Big money, Brian. Big, big money.

Look, Brian, I realise you didn’t get where you are today by being stuck for words, so when the reporter asked you how much you’d be taking home this year, after the bank collapsed under your management, you levelled with him.

It’ll be less than two million, you told him.

That was when you won me back, Brian.

That was when I realised we were so alike.

You see, Brian, this is what you and I have in common: next year we’ll both take home less than two million. What a coincidence.

Brian, you have no idea how much you share with ordinary Irish people.

Best wishes

Bock

_____________

  9 Responses to “Letter To Brian Goggin, Bank of Ireland CEO”

Comments (9)
  1.  

    I found the phrase disclosed compensation a bit strange too, what was undisclosed! Your right though, he is in the same boat as the rest of us, I too will be taking home less than two million euro this year, I will have to cut out the champagne baths, I may have to make do with several bottles of wine from Lidl to lounge around in.

  2.  

    Maybe he will be seeing on his own bank statement “Referral Charge” for the first time, sure how is a fella meant so stay within his overdraft limit on that kind of a pay cut…god love him

  3.  

    When the camera froze on his face for an uncomfortable couple of seconds i actually burst out laughing.It was like an interview on Watchdog with someone who got swindled out of their life savings by a Bulgarian Property Company..disgraceful..

  4.  

    It used to be called “take home pay” (ie after tax etc.) but that is now too simple a concept. These guys get options and all sorts of “not yet brought to book” considerations.

    Why don’t we convert all his income into a fixed value of BoI shares at their previous valuation and pay them at today’s.

    Ditto for the rest of the shower.

    That would really give you a cadre of motivated executives, if it’s not too late.

  5.  

    Poor old Brian. He used to be my boss! At least he’s not as badly off as the last head of BOI. He got shafted for looking up Las Vegas strippers on the internet in work – he brought in legislation that banned workers using the internet for anything other than work and had to go because of it! God I miss the auld bank. It was a great source of laughter for me.

  6.  

    A considerable amount of people reckon that Colonel Kilgore’s (as brilliantly played by Robert Duvall) best line in Apocalypse Now was “I love the smell of Napalm in the morning ….The smell, you know that gasoline smell, the whole hill. Smelled like… victory. However, my favourite line from Kilgore is, to a bemused looking Captain Willard, ( as brilliantly played by Martin Sheen), “someday this war’s gonna end… – the idea that
    the war would end was a source of impending disappointment for Gilgore for those not familiar with this classic – surreal.RTE had their surreal moment last week with Brian Goggin, BOI chief. Goggin mentioned that his salary would drop below 2million this year. There was a brief pause after that statement, that delay….and Goggin staring out into his abyss, looking at the interviewer with that abstract Gilgore expression, was, we are to assume, responsible for that surreal split second delay. But I would not go about nailing Goggin on his use of the word, “substantially” in relation to the fact that his income will drop this year – from the 2.7m he earned last year. All things being relative, Goggins income has dropped substantially, and he is suffering, relatively, along with his relatives – we can feel his pain. Meantime, last week, courtesy of RTE, we became privy to a mindset that has brought this country to the brink of financial Armageddon. It was a key moment in public broadcasting in this country, a rare insight the mindset of a fellow citizen who, and he’s not alone, is living in a parallel universe. As Willard is informed about Kurtz (who Willard has to remove – with extreme prejudice) by General Corman, “He’s out there operating without any decent restraint, totally beyond the pale of any acceptable human conduct.” …

    Likewise with our bankers. They have been allowed to operate beyond the pale of any acceptable financial conduct. But what we need now is someone to take them out with extreme prejudice. Are you up for it Brian Lenihan?

  7.  

    The people of Ireland should march on Dail Eireann and demand that any banker, gangster or politician responsible for bringing our country to its knees is immediately tried for treason and jailed for life.

    Cut bank executive pay NOW.

    Brian Goggin is a disgrace -How dare he make such comment —

    Has anyone checked out his background ?

    Bank of Ireland has recently informed Bank of Ireland staff in the UK that it plans significant job reductions.

    This will make a large number Irish staff of Bank of Ireland in the UK redundant.

    Brian Goggins salary of just under 2 million euro would pay the annual salary for 66 employees each earning 30,000 per annum

    Is he worth 66 good people?

    I think not.

  8.  

    Time for the revolution.

  9.  

    Bock I laughed myself stupid at your article. It’s just priceless! Thanks.

Leave a Reply