Bailed-out execs face 90% pay-cutThe US government is set to order the companies that received the most money in last year’s Wall St bailout to slash compensation for their top executives.
Executive salaries
Country clubs and corporate jets: perks continue at bailed-out banks
When the US government was bailing out their banks to the tune of hundreds of billions of dollars last year, big banking executives were receiving more perks and bonuses than usual, according to new corporate disclosures.
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.
Goldman Sachs to dish out $23b in bonuses
Insurance firm Goldman Sachs will give out $23 billion in bonuses this year — twice as much as last year — despite America’s ongoing recession and the fact that the company had to be bailed out by the US government last year.
PC pay report a very mixed bag
The Productivity Commission has released the long-awaited draft version of its review into the regulation of executive remuneration. It’s a small step, but no great leap forward, for corporate governance.
How Geoff Dixon’s millions grounded
Qantas
For eight years, former Qantas CEO Geoff Dixon was the highest paid airline executive in the world, despite a pretty mediocre performance in the job. The irony hasn’t been lost on the company’s embattled workforce.
Chris Bowen is very, very wrong on executive pay
Part of the reason that executives are paid so much is because of their ability to make their jobs sound far more complicated and difficult than they actually are.
The $62 million shareholders wasted on handshakes
A new report has revealed that some of Australia’s largest companies spent $62 million on needless termination payments last year — payments that could be blocked by shareholders if the Government’s proposed legislation regarding termination payments is approved.
Oz Post and Medibank the cream of the public sector earners
The high salary earners of the public sector are streets ahead of the best paid politicians, write Bernard Keane and Crikey intern Emily Finlay.
What has Rupert Murdoch done to earn his bonus?
That Rupert Murdoch could be paid a bonus in light of New Corp’s performance in recent years is quite remarkable.
Onerous at the top: executive pay still on the up and up
Falls in executive remuneration have not shown an especially close correlation to shareholder returns, but at least the runaway freight train of CEO pay has ground to a halt.
Corporate Australia’s hypocrisy on CEO payouts
Despite the compelling logic of the Federal Government’s proposed changes to executive termination laws, large corporations and lobby groups have gone on the attack.
Business as usual on Wall St as big bonuses return
Buoyed by a recent boom in profits, Wall Street’s biggest banks are setting aside billions of dollars for executive bonuses, only months after they were rescued by the government bailout. Said government is less than impressed.
Executive pay: regulation is not a dirty word
In the midst of a global recession, few issues have galvanized public anger in developed countries as much as executive pay, writes CFMEU national secretary John Sutton.
The BBC’s big spend
The BBC has published five years’ worth of expense claims made by its executive board members, totalling £363,963.83 and including a £100 bottle of champagne and a £500 handbag.
Wesfarmers pulls up short on executive pay
The sorry state of executive pay has been exemplified by the press coverage allocated to Wesfarmers’ decision to freeze the pay and cut the bonuses of its top executives, writes Adam Schwab.
Gail Kelly has made some rotten moves, but not when it concerns selling shares
While the financial services sector continues to lay-off thousands of staff, Westpac boss Gail Kelly, recently cashed in some of her equity in the bank, selling 250,000 shares.
Tax changes hardly worthy of mass hysteria
The executive pay debate rolls on, with APRA announcing yesterday that it will delay release of its long-awaited executive pay principles for the financial services sector.
Founder’s son gets timely Timbercorp payout
News that the son of Timbercorp’s CEO received a redundancy payout weeks before the company was placed into voluntary administration has raised some eyebrows.
Outraged investors say enough to Shell’s remuneration plan
Shell shareholders are unhappy at the Board’s willingness to spend money on under-performing executives.
Nicholas Moore’s pay plummets
Macquarie Bank released its yearly results this morning, announcing a sharp decrease in revenue and profit.
Greed is irrelevant to GFC
Greed isn’t why the financial crisis happened, and restraining it won’t prevent bad stuff from happening again, writes Barry Schwartz.
Norris’s pay cut just a shrewd sales pitch
Commonwealth Bank CEO Ralph Norris is taking a 10% pay cut, but he’ll still be earning substantially more than his predecessor.
Exception to the rule: Transurban CEO earns his keep
Chris Lynch has completed a remarkable transformation at toll road operator, Transurban since replacing Kim Edwards as CEO in April 2008, writes Adam Schwab.
