I guess we'll never know how much consultants have/will be paid to advise FBU to do the blooming obvious and quit the "big construction project" business. Hidden in Restucturing Costs or something similar?
Perhaps they'll reappear some time down the track as a junior JV partner in some big project - as in the days of JV's for big jobs such as Kawerau, Kinleith, Tongariro Power etc.
suppose there occasionally some pain when you get $435,000 in directors fees
Other Board members should be embarassed with what they have collected ...Carter seems the least occupied but got about $200,000 last year
Heads they win, tails shareholders lose - that's about the long and short of the old boys' club.
Nice cushion of $$$$ when their 'pride' gets hurt by their gross mismanagement of falling asleep after the 5 course lunch and alcohol during the board meetings.
Heads they win, tails shareholders lose - that's about the long and short of the old boys' club.
Nice cushion of $$$$ when their 'pride' gets hurt by their gross mismanagement of falling asleep after the 5 course lunch and alcohol during the board meetings.
.......and wasn’t it nice of the restaurant to give him a free dinner because they felt sorry for him
That’s a new twist on corporate welfare
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
.......and wasn’t it nice of the restaurant to give him a free dinner because they felt sorry for him
That’s a new twist on corporate welfare
Restaurant probably gets plenty of business from Ralphy & his old boys' club - shrewd PR on their part?
Must say that I have held Ralph in high regards for the job he did at ASB, CBA and then, stepping up to sort out Air NZ. This third massive profit downgrade of FBU and his attempts to deflect accountability and blame to others have wiped out most of the respect I had for him.
He has been a director since April 2014 (3.75 years ago) and Chairman since October 2014 (3.25 years ago) - long enough on the Board to have an impact.
Fact is that the worse of the project (NZCCC) was awarded in October 2015 - one year after he was made Chairman. Certainly not a contract he can say happened under someone else's watch.
Anyway, he has earned the better part of over $1.6m in fees to console his pride.
Shareholders should have taken heed of the fact that he owns less than 30,000 shares in FBU?
I guess we'll never know how much consultants have/will be paid to advise FBU to do the blooming obvious and quit the "big construction project" business. Hidden in Restucturing Costs or something similar?
Perhaps they'll reappear some time down the track as a junior JV partner in some big project - as in the days of JV's for big jobs such as Kawerau, Kinleith, Tongariro Power etc.
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Originally Posted by Baa_Baa
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