The top 20 CEOs in Australia (that is, those managing the 20 largest companies), were paid on average 320 times the wage of the lowest-paid workers in the country.
Ceo remuneration
Exec pay: government gets tough with ‘claw-back’ rule
The long-awaited response to the Productivity Commission’s report on executive pay has been released. It includes a “bonus claw-back” rule, which would allow for the recovery of bonuses paid to executives who provided misleading financial information.
Aussie bankers doing fee-nominally well
Executives at our biggest banks continue to enjoy a myriad benefits, the Big Four being among the most generous remunerators of executives in business. But lower-paid workers have not been so lucky.
Leave the poor (well, rich…) bankers alone!
It’s time for the commoners to get over the whole Wall Street bankers earning bajillions in bonuses issue, writes Steven Pearlstein. If we’re going to get mad at bankers, we need to be mad at rock stars and athletes as well.
Business as usual in our boardrooms, just don’t ask the man in the street
What a difference a year makes, where suddenly the economic woes are long forgotten, executive pay is rising again, banks are as greedy as ever and the politicians continue to do nothing about it, writes John Sutton.
Fat cat shareholders continue to bask in capitalism
The fury by shareholders over executives high salaries is hypocrisy at its finest, writes Mirko Bagaric. Let’s remember, shareholders are just in it for the money too.
You earn how much? Time for plain English pay
Remuneration reports are usually confusing and complicated reports, and are particularly difficult for shareholders to understand exactly what pay conditions executives are entitled to. Time to clean them up, says Paul Quinn
Executive pay: the scam that never was
A two-strike policy wasn’t needed to protect obscene salaries because shareholders already had options available to them and our economy was doing ok anyway, writes Andrew Main.
Two strikes and you’re…ok
The controversial ‘two strikes’ policy — giving shareholders a chance to vote down pay rises and force a board to re-election — has been severely watered down in the final report from the Productivity Commission on executive pay released today.
Goldman finally turns (slightly) scrooge on bonuses
After much flack for their exorbitant executive remuneration, this Christmas the top 30 Goldman Sachs execs will be receiving their bonuses in stocks that cannot be sold for five years, not cash.
Goldman bankers buy guns for public showdown
Apparently Goldman Sachs’ bankers are applying for gun licenses in preparation for a populist uprising against fat cat bankers and their big bonuses. Well, Goldman is known for its foresight, writes Alice Schroeder.
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.
Which bank? Definitely not a big one.
US investors lost confidence in large banks getting bailed out by the government. Community banks are cashing in and cleaning up, advertising directly to local customers angry about large CEO payouts and irresponsible investing.
Mayne: Investors unite for a CEO pay revolt
Stephen Mayne displays some shareholder activist at the Transurban AGM in Melbourne today, where the remuneration report was defeated by a whopping 69% of voters.
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.
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.
Why are US and Australian fat cats so obese?
With recent debate by the Productivity Commission on executive pay, Kenneth Davidson asks why we pay so much for CEOs, when it’s obvious that high salaries don’t equal strong company performance.
Your Say: Daily Mail readers' feedback: Executive Remuneration
Crikey readers weigh in on how measuring the obscenity of executive remuneration, the danger of footpaths and the South Ossetian war between Georgia and Russia.
Grattan: It should pay to take risks
The Productivity Commission’s report on executive pay won’t completely satisfy those, like the Greens, that wanted caps on pay. Except, caps aren’t a practical option, writes Michelle Grattan.
Executive remuneration: PC pays out on directors
The Productivity Commission has produced an excellent report on executive remuneration and every share owner in the country should read it. Particularly the part about directors.
Crikey Says: Who says CEOs get paid too much?
Obscene executive remuneration undoubtedly exists, and its classic fodder for ridicule. But how easy is it to define and regulate CEO pay?
APRA squibs it on executive pay
The Australian Prudential Regulation Authority has drastically watered down its executive pay guidelines, so financial executives can once again rest easy.
Your Say: Daily Mail readers' feedback: Mungo McCallum killed Michael Jackson?
Crikey readers weigh in on East Timor and if Kevin Rudd saved the economy with the stimulus package, then did Mungo McCallum kill Michael Jackson?
US CEOs sidestep the GFC, reap millions
While shareholders may have suffered from the global financial crisis, executives have been doing pretty nicely. Like the CEO of Blackstone, whose executive pay in 2008 was US$702 million.
The Trujillo shambles that haunts Telstra
Former Telstra CEO Sol Trujillo’s departure with $9.06 million in his pocket was a final insult to long suffering shareholders. Why was he paid so much to deliver so little?
