One of Australia’s most controversial and highly paid chief executives, Mark Rowsthorn, has left his role heading transport company Asciano.
Asciano
Fin misses point on Telstra pay freeze, exec pay hikes
Australian remuneration committees continue to make Orwell proud — for it very much still appears that some employees appear far more equal than others.
A $900k bonus for the head of a flailing company
Asciano’s share price is now 86% less than its June 2007 peak, amid billions of dollars of losses. But the board has decided to not only extend the contract of CEO Mark Rowsthorn but also pay him a “one off” bonus of $900,000.
Business As Usual: In the US, one in eight on food stamps … Chinese keen to buy up, pay super taxes …
Almost 40 million Americans are on food stamps, Asciano whips out some house cleaning, No tax cuts in Germany, just spending cuts, China still tops of the export pops and other business news of the day.
Rowsthorn’s millions must be rebuffed
In the past two decades, we’ve witnessed an almighty increase in executive remuneration, with even the GFC unable to dampen it. No better example is the case of the embattled Asciano and its CEO, Mark Rowsthorn.
Rowsthorn and Asciano: pulling rabbits out of hats
Following an extensive nine-month process to sell itself, Asciano pulled out a proverbial rabbit last week when it announced a $2.35 billion underwritten capital raising to alleviate short-term debt concerns.
Morning Market Report: Asciano Group in a trading halt
Asciano Group are in a trading halt, announcing a $2bn equity raising today.
Morning Market Report: Market drops 100
All sectors bar telecom stocks were down, and the Dow dropped 289.
Kohler: Crunching prime numbers
When the defaults on prime and alt-A mortgages are added to sub-prime losses, it’s clear that we’ll see a long period of financial darkness before the dawning of better times, writes Alan Kohler.
Briefly Business: Asciano, Lend Lease, The Big Five
Asciano on trading halt … Lend Lease shares take a dive … Banks corner the mortgage market … Job ads slump signals slowdown … The ethics of taking holidays.
Asciano loses on Brambles, but “it’s for the best”
Asciano Ltd has bailed out of its controversial Brambles holding at a minimum loss of $85 million, reports Glenn Dyer.
