|
|
 |
Sweet FTA!
The government is refusing to disclose the economic analysis showing how the Free Trade Agreement with the US will deliver net benefits to the Australian economy, leading many critics to argue that the agreement was signed blindly. Already the government, by buckling to US demands (particularly on agriculture trade), have greatly reduced the predicted $US2 billion a year windfall from the FTA, risking thousands of jobs, hundreds of businesses and our cultural identity in the process.
Posted: 12 February 2004 [ Full Story ]
Taking the Piss-Part 2
After resigning last Friday, Frank Cicutto walked away from his less than average performance as head of the National Bank with a total payout of $14 million, including a cash bonus of $1.3 million, options worth $4.5 million and amazingly, a broken contract fee of $3.3 million for the contract he obviously broke. Meanwhile, global monster ExxonMobil, that in a recent report was shown to be responsible for 5 per cent of global-warming emissions and countless injustices in the third world, has reported the highest profit in corporate history- US$17 billion.
Posted: 05 February 2004 [ Full Story ]
Taking the Piss
Are we really meant to believe that a freeze on the payment of bonus shares and options to NAB boss Frank Cicutto and two other senior executives will stop them profiting in some way from the $1 billion sale of shares designed to cover the $360 million losses incurred by their incompetence? And what do we make of Air NZ’s plans for major expansion? This is a company that used a chunk of a $NZ885 million bailout package to pay bonuses to the executives that oversaw the collapse of Ansett in 2001, leaving hundreds of Australian workers fighting for their dues to this day.
Posted: 29 January 2004 [ Full Story ]
Risky Business
The management record of NAB boss Frank Cicutto is under fire since trading losses that could cost the bank up to $600 million were revealed last week. In the past year, Cicutto has overseen forced payouts to misled unit trust customers totalling $132 million and he also headed the failed share market raid on AMP, which secured it only 2.2 per cent of the target and bumped up the share price. On the flip side however, taking serious risks has earned a stock market trader in London $70 million, one of the biggest bonuses ever seen, the equivalent to the average annual earnings of more than 1100 people.
Posted: 22 January 2004 [ Full Story ]
|
Whistle Blown on Executive Pay
The Labor Council has commissioned a report on executive pay that blows out of the water the proposition that we get value for money from big CEO salaries.
05 June 2003 [Full Story]
|
Origin Energy
|
 |
Industries: Electricity and Gas Supply
CEO: G. A. King
Net profit (after tax) 2000: $133,600,000 [more info]
|
|
|
|
BossWatch is the first concerted attempt by Australian unions to map our corporate landscape and track the linkages between our major employers. It is a resource open to all unions sponsored by the Labor Council of NSW.
How to use this site |
|
