Comments on: How Geoff Dixon’s millions grounded Qantas http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/ now with extra source Sun, 12 Feb 2012 00:58:05 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Julius http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38416 Julius Tue, 22 Sep 2009 10:47:23 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38416 The fact that, with at least 20 years of complaint behind them, company directors could be so dishonest or stupid that they did not arrange proper performance related remuneration deals with all senior executives (including sharing the misfortunes of shareholders) is a great misfortune for Australia. We need to be able to admire our business class both because the reality behind it should mean we are prosperous and because we need role models and examples for able young people. The board of Qantas clearly hasn't measured up. The fact that, with at least 20 years of complaint behind them, company directors could be so dishonest or stupid that they did not arrange proper performance related remuneration deals with all senior executives (including sharing the misfortunes of shareholders) is a great misfortune for Australia. We need to be able to admire our business class both because the reality behind it should mean we are prosperous and because we need role models and examples for able young people. The board of Qantas clearly hasn’t measured up.

]]> By: Stevo the Working Twistie http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38414 Stevo the Working Twistie Tue, 22 Sep 2009 10:31:07 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38414 Oh stop it, all of you. Dixon and co's only true KPI was to suck as much cash out of the company as possible without being charged with anything. On that basis, he well and truly met his KPIs and therefore deserved the payment. QED. As long as it is up to the Board (which consists of highly paid executives) and institutional shareholders (which consist of highly paid executives) then these will be the only KPIs that ever matter. Oh stop it, all of you. Dixon and co’s only true KPI was to suck as much cash out of the company as possible without being charged with anything. On that basis, he well and truly met his KPIs and therefore deserved the payment. QED. As long as it is up to the Board (which consists of highly paid executives) and institutional shareholders (which consist of highly paid executives) then these will be the only KPIs that ever matter.

]]> By: jossy http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38396 jossy Tue, 22 Sep 2009 09:25:15 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38396 What does it say about modern corporations when they can pay their CEO nearly 10% of the company's whole yearly profit as remuneration for 4 months work. If governments want to regulate executive pay a good start would be to tie it to yearly profit. What does it say about modern corporations when they can pay their CEO nearly 10% of the company’s whole yearly profit as remuneration for 4 months work. If governments want to regulate executive pay a good start would be to tie it to yearly profit.

]]> By: bryanb@webbtide.com http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38393 bryanb@webbtide.com Tue, 22 Sep 2009 09:09:08 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38393 I'll second first comment - always good to read Adam's analysis of the egregious behaviour of the corporate class. As someone who's lost a considerable amount of money (to me anyway) due to the hubris and incompetence of previous management in Boral, Transurban, Suncorp and Telstra (to mention only a few), it's particularly galling to see these people so handsomely rewarded for such abject failure. I’ll second first comment - always good to read Adam’s analysis of the egregious behaviour of the corporate class.

As someone who’s lost a considerable amount of money (to me anyway) due to the hubris and incompetence of previous management in Boral, Transurban, Suncorp and Telstra (to mention only a few), it’s particularly galling to see these people so handsomely rewarded for such abject failure.

]]> By: bakerboy http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38385 bakerboy Tue, 22 Sep 2009 08:17:27 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38385 Geoff Dixon did well in business considering his roots in (Wagga)? where he earned the title of 'tough as a junkyard dog'. Geoff Dixon did well in business considering his roots in (Wagga)? where he earned the title of ‘tough as a junkyard dog’.

]]> By: Paul Ferraro http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38342 Paul Ferraro Tue, 22 Sep 2009 05:26:41 +0000 http://www.crikey.com.au/2009/09/22/how-geoff-dixons-millions-grounded-qantas/#comment-38342 Another intersting article, Adam. The fallout of the GFC appears to have rapidly drained the financial world's pool of 'elite business executives' (or perhaps, to mix metaphors, merely highlighted the fact that our economic emperors are wandering around with their willies to the wind. In your opinion, do there remaion any executives who deserve the large payments you constantly deride? Another intersting article, Adam.

The fallout of the GFC appears to have rapidly drained the financial world’s pool of ‘elite business executives’ (or perhaps, to mix metaphors, merely highlighted the fact that our economic emperors are wandering around with their willies to the wind.

In your opinion, do there remaion any executives who deserve the large payments you constantly deride?

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