Events at the Macquarie Atlas Roads AGM in Sydney last Thursday should give us pause to reflect on the fees paid to businesses and CEOs.
The Minerals Council of Australia, shockingly, wants to hamstring environmental groups.
"Strategic reviews" sound very professional, but are really just self-serving bonus-inducers for CEOs. And other business tidbits of the day.
Australian Ethical Investments executive director James Thier says the new world first Climate Advocacy Fund will initially focus on companies in the mining sector, writes Crikey intern Ben Hagemann
If Oz Minerals had followed the lead of many over-leveraged companies during the GFC and simply raised equity through a pro-rata rights issue, the company would today be worth more than $4 billion.
While Australian boards are to be lauded for acting quickly to remove poorly performing CEOs, those same boards are also wantonly handing out shareholder monies to failed executives who retire, rather than are terminated.
The "independent expert report" is quite possible the greatest anachronism in modern finance and corporate governance, as has been neatly proven in the disaster which is Oxiana-Zinifex-Oz Minerals, writes Adam Schwab.