Tag Archives: Chief Executives

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.

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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

3 Comments

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

Our Leaders: if commonalities

— Cull –●– Bidrose –●– Harland —

triumvirate cullbidroseharland 2

“What I said was, ‘Is anybody at home?'” called out Pooh very loudly.

“No!” said a voice; and then added, “You needn’t shout so loud. I heard you quite well the first time.”

“Bother!” said Pooh. “Isn’t there anybody here at all?”

“Nobody.”

[with absolutely NO apologies to AA Milne who would deeply sympathise]

Posted by Elizabeth Kerr

*Images redrawn and reworked by whatifdunedin

29 Comments

Filed under Business, Citifleet, DCC, Democracy, Economics, Name, New Zealand, People, Politics, Project management, Property, What stadium

Paul Orders at Cardiff Council

Link received.

It might have cost more than £53,000 to recruit him, but new Cardiff council chief executive is impressing across the board.

“Members were presented with a highly competitive field of candidates from whom they choose Paul Orders, someone who had previous experience of the council combined with a unique perspective to city management drawn from his leadership role at Dunedin City Council, the second largest city on New Zealand’s south island.”

paul-orders-1a### walesonline.co.uk Aug 08, 2014 16:57
Who is Paul Orders? Chief executive recruited at a cost of £53,000 is the right man for the job say councillors
By Cathy Owen
The new Cardiff council chief executive, who cost more than £50,000 to recruit, has been described as a “capable” pair of hands who has “impressed” so far in the top job. There has been controversy surrounding the appointment after it was discovered that Wales’ largest authority spent £53,499.63 on the process of hiring its new chief executive last year. Paul Orders, who earns a salary of £170,000 a year, was chosen as the successful candidate for the job last year. A Freedom of Information request revealed Cardiff’s bill for the recruitment process included just over £37,000 on consultants to do the assessment and scoring work of those who applied. Concerns were also raised about the lack of interest in such a high profile position with opposition councillors blaming the public in-fighting amongst the Labour group at the time as “off putting”.
[Councillor Judith Woodman, leader of the Lib Dem group, said:] “Paul Orders was an exceptionally good officer before he went to be the chief executive in Dunedin, New Zealand. It was a good move for him because the two countries are very similar and it gave him the experience that he needed coming back here. He is very capable, but he has a very difficult job to do and you must also remember that he gets direction from the political leadership. But from what I have seen of him so far, I have been very impressed.”
Mr Orders was selected by the cross-party Appointments Committee which included Conservative group leader David Walker.
Read more

Related Post and Comments:
1.9.14 DCC Fraud: Further official information in reply to Cr Vandervis
● [What did Paul Orders really know, why didn’t he act?]
30.8.14 DCC Fraud: Cr Vandervis states urgent need for facts…
22.8.14 DCC: Deloitte report referred to the police #Citifleet
3.7.14 Stuff: Alleged vehicle fraud at DCC
14.11.13 Jeff Dickie thanks Mr Orders for trying (unabridged)
24.9.13 DCC chief executive Paul Orders recommended for Cardiff
25.5.13 Paul Orders: Dunedin or Cardiff ???
22.8.12 Mr Orders, sir! About your staff expertise…
9.11.11 Paul Orders for change!
17.9.11 Paul Orders starts Monday

Posted by Elizabeth Kerr

4 Comments

Filed under Business, DCHL, Democracy, Economics, Hot air, Media, Name, New Zealand, People, Politics, Project management, Stadiums, What stadium

DVML works media/DCC to spend more ratepayer money

Dunedin Venues Management Ltd (DVML) has been testing the stadium sound system since February, and has discovered it is only working at 20% of what is needed.

Queries about the sound system were only some of a barrage of questions from Dunedin city councillors before they adopted the annual reports of DVML and Dunedin Venues Ltd this week.

### ODT Online Sat, 12 Oct 2013
Stadium PA fix up to $800,000
By Debbie Porteous
Permanently fixing problems with Forsyth Barr Stadium’s public address system would cost between $500,000 and $800,000.
DVML chief executive Darren Burden said the cost did not include permanently fixing sound issues with the wider auditorium, such as those experienced at concerts. They would continue to be addressed by temporary measures installed by promoters.
He said DVML had been working with acoustic engineers and sound system experts, including the company that installed the system. There were problems with the transmission of sound from microphones on the pitch to the sound box that delivered sound to speakers around the stadium.
The solutions, which ranged in price depending on what standard of sound delivery was wanted, involved improving the sound transmission from the field and installing more speakers around the stadium.
The cost of fixing it had to be dealt with internally by DVML.
Read more

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Darren Burden, DVML [odt.co.nz]Head in the Sand Award?
Cr Richard Thomson said he appreciated Mr Burden (pictured) might wonder why he bothered when faced with such a barrage of questions from councillors. ”But it is really important for the city that this delivers as much revenue as possible.” (via ODT)

Comment at ODT Online:

Who is accountable?
Submitted by russandbev on Sat, 12/10/2013 – 9:06am.

Just another example of the difference between reality and hype. Ratepayers have been assured since the building of this rugby stadium that the PA system was state of the art. Indeed, the hype from the Carisbrook Stadium Trust before the build indicated that it was even better than that. Now ratepayers are told that it will cost the best part of a million to get right for the most basic of requirements, and that the costs of running the stadium will rise. Who is being held accountable? Not those responsible for this ongoing shambles, but only the ratepayers.

Related Posts and Comments:
7.10.13 DCC councillors, no idea of annual cost of owning and operating…
4.10.13 DVML . . . | ‘Make the stadium work’ losses continue
20.8.13 DVML foists invoices on DCC
20.6.13 Stadium: DVML, DVL miserable losers! #grandtheftdebt
30.12.12 To DVML Board, from Ian Tayor [sic]
11.12.12 Stadium: DCC runs amok with $750K annual subsidy to DVML
2.11.12 Stadium financials: Calvin Oaten on DVML, DVL and DCHL
2.11.12 Stadium financials: JimmyJones v Peter Hutchison (DVML)…
19.10.12 LGOIMA request: Breakdown of DVML recruitment costs [emails]
19.10.12 Weak boys, Cull and Burden on rugby stadium
11.10.12 Darren Burden plays LGOIMA game like Davies #DVML #PsychoAnswer

For more, enter the terms *dvml*, *darren burden* or *stadium* in the search box at right.

Posted by Elizabeth Kerr

5 Comments

Filed under Architecture, Business, Concerts, Construction, CST, DCC, DCHL, Design, DVL, DVML, Economics, Events, Media, Name, New Zealand, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, What stadium

DCC councillors, no idea annual cost of owning, operating FB Stadium

Updated 2013/10/08 at 10:47 am.

DCC departing councillors [ODT Files 8.10.13] 1Platitudes — and much more, including seriously remiss untruths about the ‘value’ of councillor contributions — flew at yesterday’s city council meeting. Dunedin City Council members farewelled five long-serving councillors at their final meeting: Neil Collins, Syd Brown,
Bill Acklin, Fliss Butcher and Colin Weatherall.

Councillors said Cr Brown was a fair-minded and trusted member, a consistently hard worker who made a ”very substantial” contribution, especially on financial issues and as a strong advocate for Mosgiel, in his 15 years on council. ”He is a wise old owl. When he speaks, I listen and know we all do,” Cr Collins said.

Read more at ODT Online.

——————

Comment received.

JimmyJones
Submitted on 2013/10/07 at 6:31 pm

The average DCC councillor still has no idea of the annual cost of owning and operating the FB Stadium. They have been misled by the way the annual reports are arranged and they get confused because there are two stadium companies with similar names, as well as an interest cost to the DCC for the loan to buy the shares to buy the stadium.

Jim Harland, Paul Orders and their staff have been asked many times to disclose the total financial impact of the stadium. Mr Orders eventually promised to do this at an annual plan public meeting, but it hasn’t happened.

The annual reports of the stadium companies (DVL & DVML) to be approved today by our hapless councillors, have enough info to calculate a good estimate of the total cost.

These figures are from the annual reports page 6 (DVL) and page 9 (DVML). Remember that in these reports the term “subvention payment” means “subsidy” and has the effect of disguising the size of the companies’ losses. The city’s renters and ratepayers end up paying for both the disclosed losses and the subsidies so we need to add them together to get the total impact.

Total Stadium Impact:
Item:___Disclosed Loss_____Subsidy_______Total Loss
DVL:______$4.8 million______$7.3 million_______$12.1 million
DVML:_____$1.0 million______$0.6 million_______$1.5 million
Cost of interest on debt for DVL shares:________$5.1 million
Cost of rates subsidy for DVML (approx):_______$2.0 million
Total Ratepayer Impact (approx):_______$20.7 million

The DCC held stadium debt is $78 million and I have chosen the interest rate to be 6.5%. There might be some other costs that I haven’t thought of. The actual interest rates paid by DVL seems unrealistically low to me at 5.87%. Most DCC projects are charged 7.00%, so DVL’s low interest rate could amount to a secret subsidy of $1.6 million.

Anyway, $20.7 million per year is a lot of money and citizens and councillors need to know what is going on. We have heard DCC mayors and councillors promise financial transparency, but it seems that some of them have wanted to keep this figure quiet.

[ends]

Posted by Elizabeth Kerr

*Image: odt.co.nz – departing city councillors who brought you the stadium, one way or the other . . .

19 Comments

Filed under Business, DCC, DVL, DVML, Economics, Project management, Property, Site, Sport, Stadiums, What stadium

DCC Chief Executive resigns – timing is everything!

Updated 30.10.10

### ODT Online Sat, 30 Oct 2010
Harland quits after decade at helm
By Chris Morris
The clean-out is complete at the top of the Dunedin City Council, with council chief executive Jim Harland yesterday announcing his decision to quit after more than a decade at the helm.
Read more

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### ODT Online Fri, 29 Oct 2010
Dunedin City Council CEO Jim Harland resigns
Dunedin City Council chief executive Jim Harland has resigned today after 11 years in the job. Dunedin Mayor Dave Cull announced the resignation in a statement this afternoon. Mr Harland is to take up a position as Southern Regional Director of the NZ Transport Agency.
Read more

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Dunedin City Council – Media release
Chief Executive Resigns But Not Lost To Dunedin

Last reviewed: 29 Oct 2010 2:45pm

Mayor Dave Cull announced today that Dunedin City Council Chief Executive Jim Harland has resigned his position.

“Mr Harland leaves the Dunedin City Council to take up a position as Southern Regional Director for the NZ Transport Agency, commencing in January 2011. This is a unique opportunity for Mr Harland and one that utilises his strengths in strategic planning, organisational leadership and relationship management”, said Mayor Cull.

NZ Transport Agency Chief Executive Geoff Dangerfield said that as Southern Regional Director Mr Harland would work between NZTA’s Christchurch and Dunedin offices so would not be lost to Dunedin. “This is a key position within the NZTA and Jim will play an important role in advising South Island councils regarding their regional land transport strategies.”

As part of his new role, Mr Harland will retain his position on the Stadium Project Delivery Team because of the synergy between the Stadium, the realignment of SH88 and his knowledge of the project. He will also be involved in national projects as part of the NZTA’s Senior Leadership Team.
Read more [DCC has removed the link]

Posted by Elizabeth Kerr

14 Comments

Filed under Business, DCC, Democracy, Economics, Media, Name, New Zealand, NZTA, People, Politics, Project management, Site, Sport, Stadiums, What stadium

Jim Harland: “The council isn’t broke.”

He scotched rumours there would be cuts to core services, and that the council was in financial difficulties […] councillors also needed to be aware of ratepayers on fixed incomes.

### ODT Online Tue, 22 Dec 2009
DCC looks at spending
By David Loughrey
As Dunedin ratepayers face an 8.7% rates increase for the next financial year, and an even steeper increase the following year to pay for a list of multimillion-dollar projects, a four-person team has interviewed every manager at the Dunedin City Council, asking them to justify their spending.
Read more

Posted by Elizabeth Kerr

4 Comments

Filed under Business, Carisbrook, Construction, CST, DCC, DCHL, DCTL, Delta, Economics, Highlanders, Hot air, Media, Name, New Zealand, NZRU, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, What stadium