Mooers Egg

While a study has shown that the average Australian worker doesn't think twice about doing unpaid overtime, the big end of town is finding absurdly indulgent ways to spend the money saved from such selfless worker efficiency. This week we highlight the volley of threats that came from the toothless corporate watchdog and wonder how Macquarie execs can say they have a 'clear conscience' over the Nardell Mine closure.

PICKS OF THE WEEK

Overtime just part of the routine, study finds

Most employees now see overtime as the norm in the Australian workplace, most don't get paid for it and most don't seem to care, a study has found.

Full story: http://www.theage.com.au/text/articles/2003/08/05/1060064181915.htm

Aristocrat approved furnishings: Randall

The former chief executive of Aristocrat, Des Randall, has defended the $163,517 of company funds spent furnishing two houses in the US and Sydney, saying the board had approved the purchases which included, among other things, silk flowers and a mahogany pianola.

Full story: http://www.smh.com.au/articles/2003/08/06/1060145727473.html

Judge hits Primelife spending in legal battle

A Supreme Court judge has criticised the "incredible amounts" of shareholders' money that listed aged-care group Primelife spent "with abandon" on its legal battle with a former joint-venture partner.

Full story: http://www.theage.com.au/text/articles/2003/08/01/1059480552863.htm

Leighton executives make a tidy sum

Leighton executives are enjoying a neat bounty after collecting profits of more than $3 million by cashing in options last month

Full story: http://www.smh.com.au/text/articles/2003/08/05/1060064182913.htm

Warnings are coming too late, study finds

About half the companies that release profit warnings could have alerted investors earlier, it was claimed yesterday.