Executive salaries

[Winston001]

We've previously chewed over Telecom's Paul Reynolds pay of $5 million but the poor guy is a minnow. The chief executive of British Gas Frank Chapman has an annual package of £28 million.

http://www.guardian.co.uk/business/2...nk-chapman-pay

What I find interesting is executive pay levels in the year 2000 were 47 times the average worker but are 81 times today. And yes - this is after a world wide recession.

I'm no commie but something stinks about all this.

[Fatt Max]

Does make for a nasty taste in the mouth mate,

They are all a pack of bastards to be honest,

[Dave Lobster]

Liabour have been running the place for some while now.. what chance another term?

[davereid]

We've previously chewed over Telecom's Paul Reynolds pay of $5 million but the poor guy is a minnow. The chief executive of British Gas Frank Chapman has an annual package of £28 million.

http://www.guardian.co.uk/business/2...nk-chapman-pay

What I find interesting is executive pay levels in the year 2000 were 47 times the average worker but are 81 times today. And yes - this is after a world wide recession.

I'm no commie but something stinks about all this.

IMHO Shareholders are not getting good value from these guys. Telecom limps along, badly overmanaged and under performing. It spent millions building XT, only for it to crash, while 2degrees built its network for a fraction of the price, and it has operated trouble free.

No-one resents paying for special skills or ability. But few of these chiefs demonstrate anything more than average management ability, certainly none are exceptional. The biggest decision made by Telecoms 200 executives in the last few years seems to have been to move the call center to bangladesh. The upgrade to 3G wasnt really a management decision, it was just unavoidable natural progression.

I wonder what they actually do in their offices every day ? Same as Wellington City Council I expect, nosh there way through a quater million dollars worth of food and booze a year.

[Sentox]

Generally I'm a believer in laissez-faire. If that's what the market will pay, fine. However, this increasingly centralized system of multil-national corporations is a long way from the ideal of capitalism.

[Usarka]

2% of the worlds population own over 50% of the worlds wealth.

The other 98% are lazy fuckers who should just try harder (evidently).

[Mully]

It spent millions building XT, only for it to crash, while 2degrees built its network for a fraction of the price, and it has operated trouble free.

XT was a disaster. I have no idea how Reynolds kept his job after that.

I thought 2 degrees just piggybacked on Vodafone's network? Did they build an entire network themselves? If so, can we have the big cheese of 2 Degrees in charge of Telecom please.

[bogan]

XT was a disaster. I have no idea how Reynolds kept his job after that.

I thought 2 degrees just piggybacked on Vodafone's network? Did they build an entire network themselves? If so, can we have the big cheese of 2 Degrees in charge of Telecom please.

He kept his job cos he managed to convince everyone he was the only one who could fix the mess, dunno how the fuck he managed to avoid a massive pay cut though. Think 2degrees piggybacks on vodafone for the majority of the country, but have thier own cell towers in some major cities.

[onearmedbandit]

Yeah they built their own network, but still don't have 3g, so hardly fair to compare to the useage involved with 3g. Anyway, I'm with vodafone who supply me all the reliable 3g service I could ever need.

And as far as executive salaries? If someone is prepared to pay someone that sort of coin then no skin off my nose. Remember the national outcry about Judy Bailies $800k salary and the backlash against her? She didn't award herself that figure, she may have pushed for it, but someone else said yes to paying it to her.

[Goblin]

Remember the national outcry about Judy Bailies $800k salary and the backlash against her? She didn't award herself that figure, she may have pushed for it, but someone else said yes to paying it to her.

I remember it well...now we get Miriama Kamo. Dunno what they pay her but Judy was well worth the moolah.

[rainman]

Liabour have been running the place for some while now.. what chance another term?

LOL! You think that if (ok, when) the tories get in, corporate salaries will go down?

IMHO Shareholders are not getting good value from these guys. Telecom limps along, badly overmanaged and under performing.

So true. I've seen them make a succession of stoopid mistakes over the years, and the rate and magnitude of these does not seem to a) diminish, or b) be related to who's at the top, or what they're paid.

2% of the worlds population own over 50% of the worlds wealth.

The other 98% are lazy fuckers who should just try harder (evidently).

What are those stats again? Top 400 US families own 50% of the wealth, the richest 10% of NZers own 52% of the wealth, there's 1000 billionaires in the world and 5 billion people on less than $10 a day...

But unfettered capitalism is all good, right? We need fewer regulations, not more, right? Trickle down works? If we all just try a bit harder, we too can attain the {American, Kiwi, ...} dream? Pfft.

[jim.cox]

Trickle down works?

"Trickle Down"

Isn't that just another way of saying "being pissed on from a height" ?

[spacemonkey]

"Trickle Down"

Isn't that just another way of saying "being pissed on from a height" ?

Pretty much sums that economic theory up.

[Tank]

The thing is that most people who dont earn the exec salary - have no idea what the exec does or the skills that person needs. They can add (or lose) millions for a company. They can be the one that creates jobs - or ends up ruining a company putting 000's out of work.

You pay more for better people. Market rates etc. I dont earn anything like that - but if I had that skill set - would be quite happy taking it.

BTW - Doctors get paid well also - but if you are having heart surgery - would you prefer the guy on 300k or the guy on 25k?

LOL! You think that if (ok, when) the tories get in, corporate salaries will go down?

1 - only left wing nuts keep calling them Tories
2 - Im hoping that they will continue to improve the economy that was fucked under labours watch - as such businesses will continue to do better and be able to pay everyone more. So - nope.

What are those stats again? Top 400 US families own 50% of the wealth, the richest 10% of NZers own 52% of the wealth, there's 1000 billionaires in the world and 5 billion people on less than $10 a day...

Its not so bad if you are in that 10% - but then I've worked hard for it and do not think its something to be ashamed of.

But unfettered capitalism is all good, right? We need fewer regulations, not more, right? Trickle down works? If we all just try a bit harder, we too can attain the {American, Kiwi, ...} dream? Pfft.

Well - in NZ and America - you can. It annoys me people that just cannot see the potential in front of them.

"Trickle Down"

Isn't that just another way of saying "being pissed on from a height" ?

LOL - very good!

[CookMySock]

I'm no commie but something stinks about all this.

No, it's a hugely difficult job managing a business in a recession. Ask general motors how hard it is to stay afloat.

Steve