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View Full Version : Receivership ... no way mate ... might lose my job ....



winner69
31-08-2009, 02:58 PM
Strategic Finance

Cant go into receivership or else Kerry and his mates might lose their jobs .... and their salaries.

Kerry at $550k plus 7 at more than $200k gives more than $2m

The 4 paid between $100k and $200k must feel out of it ... unless they are only secretaerial staff. Wonder how many staff in total

A bit like a blonde joke --- how many does it take to lose zillions? Apparently only s few well paid financial geniuses


Quote The Herald
The annual report showed 12 employees were paid more than NZ$100,000 in salary in the last financial year, including 8 paid more than NZ$200,000.

Chief executive Kerry Finnigan was paid a salary of NZ$550,000 for the year, down from NZ$820,000 the previous year. Total personnel expenses for the year was NZ$4.54 million, down from NZ$6.22 million the previous year

winner69
31-08-2009, 03:03 PM
Maybe they get paid a lot to come up with this

Strategic Finance said it had decided to book provisions for losses on property loan values and cashflows of NZ$146 million because of what it described as "a disconnect between property valuations and the market value of assets."

What a bugger - the market just doesn't understand valuations that Strategic have on these properties .... no wonder there is a 'disconnect' .... and no wonder zillions of writedowns

Surely the market can't be that wrong ... can it?

STRAT
31-08-2009, 03:13 PM
lol Winner.

Wish I had an expences account like that. Who needs a salary. Pocket change for cigs and drinks eh?

Deev8
31-08-2009, 03:13 PM
Perhaps Strategic should have engaged the NZ Farming Systems Uruguay accountants to prepare the results announcement. It seems they are quite adept at fudging accounts, even if they are occasionally careless - Fudge this (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10593426)