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04-06-2014, 03:40 PM
#1861
Originally Posted by bull....
used my shareholders voucher last night i must say it was ficker licking good, just like the share price
I used mine over the weekend and I am not sure whether to be happy or concerned with the experience.
I ordered a 3 piece pack plus the free burger.
Got up to pay window and was told 2 piece pack and burger - I didn't complain since I didn't want them to think I was a pig.
Only charged for the 2 piece pack so not concerned.
Got home and had three pieces of chicken!
So, did they put stuff up my order (2 rather than 3 peice) but also stuff up by giving me an extra price.
or, reward me as a shareholder but downgrading the pack for payment purposes but giving me what I wanted.
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04-06-2014, 04:48 PM
#1862
Originally Posted by Harvey Specter
I used mine over the weekend and I am not sure whether to be happy or concerned with the experience.
I ordered a 3 piece pack plus the free burger.
Got up to pay window and was told 2 piece pack and burger - I didn't complain since I didn't want them to think I was a pig.
Only charged for the 2 piece pack so not concerned.
Got home and had three pieces of chicken!
So, did they put stuff up my order (2 rather than 3 peice) but also stuff up by giving me an extra price.
or, reward me as a shareholder but downgrading the pack for payment purposes but giving me what I wanted.
That is interesting. Do you mean to say you ordered a "quarter pack"?
It's possible they realized you ordered a 3 piece quarter pack after they acknowledged it as a 2 piece quarter pack, so they put the extra piece of chicken in free of charge. They are usually pretty generous when they make mistakes like this.
Hmmm. Maybe I'll order a 3 piece quarter pack to go with my burger voucher. See what I get charged!
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04-06-2014, 05:07 PM
#1863
Originally Posted by JayRiggs
That is interesting. Do you mean to say you ordered a "quarter pack"?
It's possible they realized you ordered a 3 piece quarter pack after they acknowledged it as a 2 piece quarter pack, so they put the extra piece of chicken in free of charge. They are usually pretty generous when they make mistakes like this.
Hmmm. Maybe I'll order a 3 piece quarter pack to go with my burger voucher. See what I get charged!
haha classic, I will have to try something similar with my voucher. Actually normally when I order their coupon deals kfc.co.nz/voucher I just quote the PLU when ordering but never submit the coupon as they do not need it. I see on the shareholder voucher that there is a PLU as well. I might try and order a Colonel Burger, give the PLU and see if I get the burger for free without having to submit the voucher. That would be interesting.
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04-06-2014, 05:26 PM
#1864
Originally Posted by JayRiggs
That is interesting. Do you mean to say you ordered a "quarter pack"?
It's possible they realized you ordered a 3 piece quarter pack after they acknowledged it as a 2 piece quarter pack, so they put the extra piece of chicken in free of charge. They are usually pretty generous when they make mistakes like this.
Hmmm. Maybe I'll order a 3 piece quarter pack to go with my burger voucher. See what I get charged!
yes. 3 price quarter pack. They entered it as a 2 piece quarter pack and at no point did I correct them.
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07-06-2014, 10:46 PM
#1865
Anecdotally, went to my local KFC tonight to give me some subsistence for the epic test forthcoming. Was pleasantly surprised at the speed of delivery, more akin to Aaron Smith, than the usual Piri weepu dollops. Is this a change across the board of am I just imagining things?
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08-06-2014, 04:00 PM
#1866
Directors Building Wealth
Originally Posted by Balance
Director Danny Diab continues to mope up stock - buying shares at over 90 cents probably from institutions who got their shares from AMP at 57 cents - a huge 61% premium.
Who will prove to the clever one then?
Buy when insiders buy and sell out very fast when insiders are trying to get out - refer APX.
The above post was five years ago. With the RBD share price now hovering around $3.30, Danny Diab has proved to be the smart one.
But there are other ways for directors to build wealth, without having the 'skin in the game' of Diab. Over FY2009 when all the current directors were on the board, the director fee pool was $220,000. This was split up so that each director got $40,000, with Chairman Ted on $60,000. Early in the next year director Shawn R Beck quit. Without consultation with shareholders he was not replaced and his $40,000 was quietly divided up amongst the remaining directors bringing the base directors fees up to $46,000, with Ted getting $70,000 - nice.
In the notice of meeting for FY2014 we are told that a board of just 4 is "an atypically small board for a listed company of this size and profile." I want to remind shareholders that this "atypically small board" was entirely engineered by the current incumbents. The proposed new annual fee for five directors is $340,000. This represents a 54% increase in fees from FY2009 levels. The board classes the increase in fees from FY2011 (fee base $250,000), a different date as 'modest'. $30,000 'per director' over three years is 12% or 3.8% compounding per year. Not over the odds for a company that has turned the corner.
However, if we do the same calculation based on the 2009 fee base of $220,000 the increase is 54.5%, or 9.1% per annum compounding. This increase is far from modest, showing how important the base date for comparison is.
The 'Strategic Pay Limited' report states that the company's performance has improved and it has grown in complexity. But back in 2009 RBD was still battling with Pizza Hut in Victoria, and I would argue that replacing that with Carl's Junior has actually simplified the business. The 'complexity' of Carl's Junior is so great that when RBD opened a pair of new stores for KFC and Carl's Junior at the Auckland Airport precinct the two stores were identical.
The Strategic report goes on to say that "recently 8 Carl's Junior stores have opened, initiating a new brand into New Zealand." But this is untrue because Carl's Junior was actually introduced to New Zealand some years earlier by Michael Jones.
In summary I believe the reasons emphasised by directors asking for a pay rise are either selective or dishonest. This is not to say the directors do not deserve a pay rise. But they don't deserve it for the reason's outlined in the 'Strategic Pay Limited' report. For this reason I will be voting against the motion at the upcoming AGM.
SNOOPY
Last edited by Snoopy; 09-06-2014 at 02:39 PM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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08-06-2014, 05:39 PM
#1867
No advice here. Just banter. DYOR
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09-06-2014, 03:05 PM
#1868
Originally Posted by Snoopy
In the notice of meeting for FY2014 we are told that a board of just 4 is "an atypically small board for a listed company of this size and profile." I want to remind shareholders that this "atypically small board" was entirely engineered by the current incumbents. The proposed new annual fee for five directors is $340,000. This represents a 54% increase in fees from FY2009 levels. The board classes the increase in fees from FY2011 (fee base $250,000), a different date as 'modest'. $30,000 'per director' over three years is 12% or 3.8% compounding per year. Not over the odds for a company that has turned the corner.
However, if we do the same calculation based on the 2009 fee base of $220,000 the increase is 54.5%, or 9.1% per annum compounding. This increase is far from modest, showing how important the base date for comparison is.
Just had a look at the full Strategic Report on the web. The report does look as what has happened since 2009 (Table 1: Three year rolling trend in Directors' Fees movements to 2013), although that bit got left out of the summary sent to shareholders.
From Appendix 1
"In the year to May 2013, 54% of 381 organisations surveyed reviewed Directors’ fees.
The average annualised fee increase reported in the past year was 6.2% compared with 5.7% in the preceding year. No respondents reported a decrease. The annualised fee increase is calculated by taking the rate of increase and dividing it by the number of years since the last review date. Most firms tend to adjust fees every two to three years."
This confirms that RBD directors are asking for a pay rise (9.1% per annum) substantially above market rates.
Table 6 (Director Remuneration for RBNZ based on Director Evaluation Methodology) also mentions that current director fees at $55k are 10% above the average and 20% above the median.
So current directors fees are significantly above average already for the complexity of the business they manage. The proposed increase will take directors fees to the upper quartile of director earners. I don't think the proposed increase is justified. No wonder the whole Strategic report wasn't sent to shareholders!
SNOOPY
Last edited by Snoopy; 09-06-2014 at 03:06 PM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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26-06-2014, 04:25 PM
#1869
All gung ho at the ASM
Profits steaming ahead ahead amd more than $20m this year ..... good
Anybody go
Was Brian there ..... I hope so
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26-06-2014, 04:27 PM
#1870
and the directors got their pay rise
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