Nest egg ratcheting #HigherSalaries —selling the economy short

Dilbert 19.1.16 by Scott Adams Billion dollars. [Stuff.co.nz]Dilbert by Scott Adams | Billion dollars. [Stuff.co.nz 19.1.16]

Received from Anonymous 1
Tue, 5 Apr 2016 at 8:52 a.m.

█ Message: This needs wide debate in Dunedin and NZ!

Slashing huge salaries ‘would not hurt economy’, says report as new analysis finds leading CEOs earn average of £4.6m a year.

### theguardian.com Sat, 5 Mar 2016 22.38 GMT
The Observer – Business
Pay for UK bosses is ‘absurdly high’, top headhunters admit
By Daniel Boffey – Observer policy editor
Britain’s chief executives are wildly overpaid, and there would be no negative impact on the economy if their salaries were slashed, a groundbreaking study of the country’s top headhunters reveals. The London School of Economics report is a damning indictment of the state of executive pay, and comes as an analysis of FTSE 100 company accounts shows that the average pay package of a top CEO is now £4.6m a year. Interviews with the top 10 international recruitment firms behind 70-90% of chief executive appointments in recent years found a consensus among so-called corporate kingmakers that levels of remuneration for the most senior executives are “absurdly high”.

Headhunters claimed that, for every appointment of a CEO, another 100 people could have filled the role just as ably, and that many chosen for top jobs were “mediocre”.

The market for executive jobs, however, has become so distorted that it would amount to career suicide for a chief executive to indicate that he or she would be willing to work for less. The study’s authors write: “If one were to offer to do the job for less, would that tip the decision in his or her favour? All the headhunters agreed that this would be a poor strategy. “Indeed, it might be that asking for a larger remuneration would have a positive effect in securing the appointment.”
Read more

● This article appeared in the Otago Daily Times on 28 March 2016.

****

Received from Anonymous 2
Tue, 5 Apr 2016 at 8:20 a.m.

█ Message: A friend in Australia sent me this in anticipation of an upcoming Aussie election. Interesting! Why are we so cynical about politicians?!

Cunning thievery Australia

Posted by Elizabeth Kerr

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3 Comments

Filed under Business, Corruption, Democracy, Economics, Geography, Media, People, Perversion, Politics, Travesty

3 responses to “Nest egg ratcheting #HigherSalaries —selling the economy short

  1. Calvin Oaten

    The system here in New Zealand is relatively similar.It is bad enough to see shareholders being gouged by top salaried staff, but the directors are no better as they connive to get on as many boards as possible also ripping into the shareholders’ investment returns.
    But the worst case is that of the bureaucracies in the so called Public Services. Highly protected by the “Higher Salaries Commission” (itself an integral part of the game) that adjudicates across the board. It of course has no cause to consider the ramifications of their actions as it is all out of the ‘Public Purse’ filled of course by the taxpayer plus untold debt obligations. The result is [deleted] in the education sector we see the Otago University Vice Chancellor on a stipend of $560Kpa plus luxury accommodation and vehicle. Again, all out of the ‘Public Purse’.
    It is a situation that has exploded over the last three or four decades with the advent of ‘neo liberalism’ economics known here in NZ as ‘Rogernomics’. That set off the race for the greedies as we saw first in the 1987 meltdown followed ever since by this dramatic shifting of the society’s wealth from the middle classes to the so called ‘one percenters’ who blatantly display their savage disdain for the majority of ‘plebs’. They cavell and grizzle about whether the base wage should be $14 or $18 per hour, preaching doom at the prospect, believing there should be no rules on how low the rates should be. Yet they grasp and grab all the perks, bonuses and increases they can. The sooner the ‘Great Meltdown ‘comes and flushes away all these evil aspects preventing a fair society to prevail, the better. As an oldy I think the ‘fifties’ and ‘sixties’ were a far better and fairer period, even though we grizzled at the seeming restrictions on access to consumer goods. We all had jobs, weekends for family time, one wage supported a mortgage and wife and kids, from now it looks like paradise. It wasn’t of course, but it seems it. And those arseholes earned a fair income proportionate to the whole.

    {Moderated. -Eds}

  2. Gurglars

    We should support at the next council election, a remit, or even a presentation prior to a national referendum, the following remit.

    No new job or replacement job should advertise, pay by remuneration or benefit a total salary of more than $150,000 pa.

    Any salaried jobs not applied for would be scrapped.

    One would note that at the moment given performance in the Dunedin region that the pay peanuts get monkeys formulae is flawed.

    {Moderated. Too pointed. -Eds}

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