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Sep 3, 2012

Every post a winner for Fahour’s guests at Games

Australia Post took dozens of its largest clients and their partners to the London Games, with the largesse including business-class airfares and accommodation a five-star hotels.

Adam Schwab — Business director and commentator

Adam Schwab

Business director and commentator

After spending a few years as a mouthpiece for Sydney investment bankers, The Australian Financial Review‘s Rear Window column has been reinvigorated under the leadership of former Joe Hockey staffer Joe Aston. Aston’s latest target is Crikey favourite Ahmed Fahour, with Rear Window launching a freedom of information request regarding Fahour’s Olympic Games junket.

Sadly for Aston, and the millions of Australian taxpayers who fund Australia Post, the request was knocked back by Australia Post. Fortunately, your correspondent doesn’t bother with freedom of information requests. Instead, we went straight to the source, with Olympic guests of Australia Post telling Crikey that Fahour’s hospitality was extraordinary.

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6 comments

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6 thoughts on “Every post a winner for Fahour’s guests at Games

  1. secondsoprano

    120 times?? Are you sure? Perhaps you mean 120% (given that a quick goodle search suggests that the USPG received about $800K in 2009)

  2. michael r james

    The Australia Post CEO would be receiving 3.6 times (or 362%) what the USPG gets (if secondsoprano’s figure is correct).

  3. David Symons

    The official salary of the USPG is apparently $245k

    http://finance.yahoo.com/news/pf_article_112283.html

    Therefore – our boy gets about 12x the USPG. Not 120x.

  4. John Bennetts

    Of course, the simple and only reason why Australia Post’s CEO acted like a brat on the loose with other peoples’ money was that he could do so.

    In this present world where a CEO is able to shut down the national airline on a whim, it’s not surprising that another plays the Olympic game with such vigour.

    It takes the hide of a rhino to do some jobs.

  5. dunph

    Ahmed Fahour, or “Armoured Car” as he was nicknamed at the NAB, flew First Class on QF9 to London the week before the opening ceremony; his PA was also in attendance – so no back-of-the-bus treatment for these stamp lickers!

  6. Adam Schwab

    Must have been a sub-editing issue, the original para read:

    Fahour is however, no stranger to controversy, with the Australia Post CEO being paid $2.9 million in 2011 to head up the monopoly mail provider – around ten times what the United States Postmaster General receives (this was despite Australia Post handling around three percent of the volume of its American equivalent). In fact the former banker is one of Australia’s top 100 paid CEOs, receiving high remuneration than the likes of Myer’s Bernie Brookes, or JB HiFi’s Terry Smart in 2010/11.

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