Kevin Rudd may publicly deride extreme capitalism — but, fortunately for our bankers, the Federal Government’s policies appear to be aiding and abetting it.
Articles by Adam Schwab 
ATO-TPG fight may force legislators to act curb tax favours
The emerging stoush between the Australian Tax Office and the former private equity owners of Myer should warm the cockles of the hearts of every long-suffering Australian taxpayer.
David Coe’s mystifying board election
The likes of the Business Council of Australia and Australian Institute of Company Directors need not be too concerned about the “two strikes” rule — David Coe and RHG just proved as much.
Melbourne Muddle: elite students turning away from law in droves
Elite students are turning away from the once-prestigious Melbourne University law school in droves, shunning the Melbourne Model in favour of not only long-time rival Monash, but also RMIT and Deakin University.
Long-term incentive plan angers Computershare shareholders
Yesterday, it was the turn of share registry Computershare to feel the brunt of shareholder anger, with its plan to grant 1.4 million options to selected executives supported by only 38% of proxy votes received.
Top executive earners: pay for performance a myth
The Financial Review today produced its annual salary review for 2009 and it appears that despite claims to the contrary, there is a significant disconnect between executive remuneration and shareholder return, writes Adam Schwab.
Corporate governance: wild west may finally be getting tamed
Investors are continuing to vent their anger at executives and directors’ salaries, with shareholders in mining company Western Areas last week revolting over lucrative remuneration arrangements granted to directors.
Wal’s still the King of the heap when it comes to pay
Wal King recently gave a spray about the ridiculously high salaries received by CEOs. Maybe he should be looking at his own pay packet — $29 million since 2008, nearly all cash — before casting stones.
Aussies, it seems, under Mr Market’s intoxicating spell
The ABS, Australian Property Monitors and RP Data are all indicating that Australian residential property prices are nearing or exceeding record levels, spurred by continued use of debt by many buyers to fund the great Australian dream.
ASIC takes a serious swing at MFS
Perhaps stung by public criticism that it hasn’t done enough to prevent and prosecute corporate fraud, ASIC has launched a second action in as many weeks, announcing a civil claim against various directors of collapsed fund manager MFS.
What do the Chinese know about investing in property?
Apparently, the Chinese, not always known for their investing expertise have been “single-handedly been responsible” for Melbourne’s recent home price inflation — at least according to one real estate agent.
Shareholders strike again at Transurban execs
Australian shareholders are revolting as company directors (and their hired help) design long-term incentive packages that continue to unjustly enrich executives.
Kiernan empire continues to bemuse
The intrigue around the empire of mining entrepreneur Michael Kiernan continues to bemuse, with the cornucopia of companies with which Kiernan associates appearing to spend more time in administration than US-based airlines.
United in fat cat pay anger
Last week, shareholders in contractor United Group vented their anger at the company’s generous pay practices (including a 30% pay rise for the CEO!) with the majority of shares being voted against the company.
Why directors and liabilities are like lightning strikes
Company directors are six times more likely to be hit by lightning than to be prosecuted under our liability laws, writes Adam Schwab.
Qantas report stands like a beacon of poor corporate governance
The Qantas 2009 Remuneration Report stands out like a beacon of poor corporate governance. That a majority of institutional shareholders could actually vote in favour of the resolution makes you wonder: exactly who is watching the watchers?
Kiernan: from security guard to larger-than-life mining character
Michael Kiernan, former boss of Consolidated Minerals, remains one of the Australian mining industry’s most colourful figures, having developed for himself a “black widow” reputation in the sector.
Centro charges put heat on Directors Club
ASIC announced today that it was bringing civil charges against the former executive and non-executive directors of collapsed property group Centro, alleging they failed to correctly classify $1.54 billion of interest-bearing liabilities.
The real estate spinners who are artificially inflating prices
Despite its ubiquity, residential property remains one of the least transparent asset classes in Australia. Most buyers spend hundreds of thousands of dollars on an asset which they know very little about.
Spending borrowed monies leads to false bravado
If you were to believe world stock markets, the recession is drawing to a close, with the wisdom of government spending and global monetary easing spurring the world to another economic recovery. But the markets have long proven to be an unfaithful talisman.
Shareholders revolt on fat cat pay
As lobbyists mull over the Productivity Commission’s draft reforms to executive remuneration rules, the first non-binding Remuneration Report of 2009 has been voted down by shareholders.
Experts get it very wrong on rentals
The rental market is fairly uncomplicated, but business journalists are commonly thinking of reasons as to why rents go up or down. This is only one reason: the number of vacant rental properties.
Exec pay: two strikes, too soft
The “two-strike” rule for executive remuneration should be rejected not because it is too hard on directors, but rather, because it is too soft, and targets the wrong people.
White knight Jenman gets short shrift
Consumer advocate Neil Jenman has joined a rare group who have been sued for endeavoring to help consumers, after an organisation called the “Investors Club” launched legal action against him for making accusations against them on his website.
Stimulus isn’t money for nothing. Time to wind it back
Calls are mounting for the Federal Government to reduce its wide-ranging fiscal stimulus package as economists continue to upgrade the prospects for the Australian economy.
