sharetrader
  1. #11161
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    All these renumeration packages amuse me. They try and convince me that people do better if given bonuses. For example imagine if you were the CEO of NZO. Do you think you would work harder if you were on a bonus scheme? Would you wake and say wow, I am on a bonus scheme and I have to work harder .And if you answer yes you shouldn't be in the job.

    I think all of us agree that everyone should turn up and do their best every day. Give a few awards away okay but please spare me these bonuses and option gravytrain packages. You either want the job or not.

    NZO has been treated a bit harshly lately. Room for upside.

  2. #11162
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    Research has shown that higher executive pay does not equate to higher performance. No rocket science that and just have to look around to prove this.

    I am not impressed how the company is run (or appears to be run).

  3. #11163
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    Quote Originally Posted by digger View Post
    Forget to say that if anyone now wanted to spend 3 million buying shares in NZO they would end up holding more shares than Andrew would if and when he converts these options.In fact they would own 4.225 million.
    Nevertheless i favor a smaller wage package with a tie back to company shares.
    Not quite the same thing Digger because anyone else has to front up with the 3 million now. AK only has to pay 30K. If he invests the remaining 2.97mill at 5.5% (current minimum Westpac deal for large sums) he will have 3.9 million after 5 yrs (ie, can buy his 3 million shares plus many more as well as having the safety of not having to buying if his leadership heads us further downward).

    Bermuda is correct - if you're on a good whack to start with bonuses are less likely to motivate a person to spend more time away from their family etc. Better to pay a low salary with bonuses. In a way they have addressed this - DS got over 600K (plus extras) and did not perform. Nevertheless, 500K is a good whack in anyone's language, especially when (as Fabs has indicated above) NZO aren't operator of anything.

  4. #11164
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    Snrs.
    NZ has about 4.5mil personas - about a normal city - city of Mexico has 23mil. You pay your men much to much to run little companys? yes - is this making more money for stock holder.

  5. #11165
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    Brucey, unfortunately stockholders are losing control of the salaries their directors and CEO's get because of what could be described as an 'equivalence rort'. In a fair world, executives would be paid to do their job and given a bonus that reflected how their performance materially benefited the company above expectation for any given year. Against this, our directors and CEO considers that pay and benefits should relate to what people in other organisations and countries unrelated to NZO get. As an example of this, note how the latest news item highlights how little AK gets in relation to similar sized organisations in the sharemarket (an irrelevant comparison). The board and CEO approve each others packages, so it gets hard for shareholders to get the company to attract people who are interested more in the job than the pay. It's similar to what we are seeing in politics where MPs pay has become detatched from economic realities and consequently more greedy people are attracted into the system

  6. #11166
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    If memory serves me right, the miners at PEC where offered a $ 10000 bonus not that long before the tragedy, to get production going.
    Up till then the mine had a huge cost & time over-run.
    In a sense there is a parallel in that NZO too in recent times have deteriorated from a very promising co. to what it is now.

    So it seems the management of these two co. either do or did bugger all until they get big money offered, only to reveal latent incompetence.
    Then depart after4-5 years with a pocket full of dough quoting personal reasons as an excuse.
    YEAH RIGHT!
    Good at something, anything but what S/H should be able to expect them to be good at.

  7. #11167
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    ceo salaries around the world are still out of kilter with reality of what they are worth . As if 1/2 million dollars p.a. salary ,lots of round the world 1st class travel and hotels and expenses are not enough we have an offering of 3,000,000 options exercised at $1 in 5 years being given away at 1 cent . Existing money in the bank and shares of kupe and tui are worth more than $1 . The ceo wouldnt have to do anywork at all to make a bonanza in 5 years -just let his staff do all the work and the shares most likely will double in 5 years .

    As I proposed 4 years we need digger on the board to prevent the bad things happening and get some real productive work going .

  8. #11168
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    Andrew's lollies are approved

    A poll was taken. The result of the voting (including proxies) was:
    For: 93,751,597 (80%)
    Against: 23,506,144 (20%)
    Abstain: 2,817,683

    The resolution was carried.

    "NZOG has 15,351 shareholders and 393,237,795 listed ordinary shares. Votes
    were recorded for 14 shareholders at the meeting, with 818 shareholders
    submitting valid proxy votes prior to the meeting."

    So, although 95% of shareholders did not vote (making up 75% shares) the motion was passed. Democracy I guess.

  9. #11169
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    Quote Originally Posted by arjay View Post
    So, although 95% of shareholders did not vote (making up 75% shares) the motion was passed. Democracy I guess.
    True
    Do not hold
    But if you hold shares , don't vote and don't like the outcome - you can't complain

  10. #11170
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    Just shows you that most have no sense of 'ownership' in the companies they hold stock in .... they just trade prices and as long as these are heading or likely to head to where they want tahts all they interested in .... bet you many holdinhg NZO at the moment don't even know what NZO stands for .... just the ticker code they need to but and sell

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