Articles

Should you wish to source or discuss any of these articles please contact Owen Thomas & Associates Pty Limited.

"FAREWELL TO THE FAT BONUS ERA: There is a joke in investment banking that this year's bonus will be having a job next year." December 22, 2008 Australian Financial Review

"EXECUTIVE REMUNERATION - TIME FOR A RETHINK: Despite comments to the contrary, directors of Australian listed companies, by international comparisons, have done a reasonably good job of handling the inherent difficulties in executive remuneration, although there are exceptions to any general rule." December 2008 - January 2009 AICD

"EMPLOYERS FEAR WAGES BLOWOUT: Fast food giant McDonald's has warned Prime Minister Kevin Rudd that it will pass on to consumers increased labour costs from the government's award overhaul, which could result in its prices rising 10 per cent." December 19, 2008 Australian Financial Review

"TIME TO TAME ROGUE ELEMENT IN CEO PAY: Following an earlier speach in which Australian Prudential Regulation Authority chairman John Laker made clear he was not in the remuneration committee field, APRA last week released its approach to supervisory response to the obscene salaries of bank chiefs." December 15, 2008 Australian Financial Review

"MACQUARIE EXECUTIVES FEEL THE PAIN: Macquarie Group executives are sitting on big losses after investing $206 million from their own pockets in the group's infrastructure funds just as the worst phase of the stockmarket crash hit." December 15, 2008 Australian Financial Review

"WALL ST PUTS BRAKES ON SUPER-SIZED BONUSES: With Wall Street pay under scrutiny as never before, Morgan Stanley is attaching a string to its annual bonuses --- one that would enable the bank to yank money back from employees." December 10, 2008 Australian Financial Review

"ANGRY SHAREHOLDERS TURN UP THE HEAT ON DIRECTORS: Investors are mounting an unprecedented protest against the re-election of directors to the boards of some of the country's biggest companies amid increased shareholder anger over poor performance and excessive executive remuneration." December 1, 2008 Australian Financial Review

"CEOS DEPART SOONER: Turnover of S&P/ASX200 chief executives reached 18 percent in 2007, the annual CEO Turnover study by consulting firm Booz & Company has found." November 27- December 2, 2008 BRW

"BONUSES RETURNED: Former UBS executives have given back about 70 million Swiss fracs ($89 million) in bonuses awarded to them." November 27, 2008 Bloomberg

""EXIT NOT TERMINAL FOR CEOS: Chief executives who left the helm of a top 100 listed company in the past three years recieved an average of more than $3.4 million in termination payments, research has found." November 27, 2008 Australian Financial Review

"DISCLOSURE KEY TO EXECUTIVE PAY: Over the past few months, shareholders, unions, regulators and government, both here and abroad, have come to the view that executive remuneration has reached excessive levels." November 25, 2008 Australian Financial Review

"SHAREHOLDER GROUP SAYS NO TO PAY ROLE: The opposition's call to make shareholder votes on executive salaries binding is not backed by the Australian Shareholders' Association." November 25, 2008 Australian Financial Review

"OTHER PEOPLES MONEY:Over the past two years alone, Wall Street's top financiers took home more than $US60 billion ($90 billion) in bonuses, much or it in cash." November , 2008 AFRBOSS

"THE BUCK STOPS HERE: With the economy wobbling, employment prospects and salaries are set for a share reality check in 2009." November , 2008 AFRBOSS

"ANZ CALLS TIME ON DIRECTORS: Australia and New Zealand Banking Group has cut the amount of time directors serve on the bank's board, meaning chairman Charles Goode's 17-year stint as a director is set to become a never to be repeated record." November 18, 2008 Australian Financial Review

"DOWNTURN MAY PAY OFF FOR BOSSES: A budget-busting economic downturn could propel corporate technology chieftains higher up the totem pole, benefiting from fatter pay packets as businesses view IT as a means to cut costs and boost revenue." November 18, 2008 Australian Financial Review

"WESFARMERS EXECS COP A PACKET: Wesfarmers shareholders have added to the growing backlash against excessive executive pay by delivering a stinging rebuke to the conglomerate's plans to sweeten top salaries as the share price languishes at a 71/2 year low." November 17, 2008 Bloomberg

"EXECS FORGO BONUSES: Goldman Sachs Group chief executive Lloyd Blankfein and six senior executive officers would go without year-end bonuses, a spokesman for the firm said." November 17, 2008 Bloomberg

"LAWERS TAKE LEAP TO TOP-DOLLAR MANAGEMENT: Seven of 30 general counsel in top Australian companies earned seven-figure salaries in the most recent reporting period, with some sitting on multimillion-dollar shareholdings." November 14, 2008 Bloomberg

"EXECUTIVE PAY ANGERS UNIONS: The peak union body has called for greater federal regulation of executive pay including capping tax deductions at $1 million and giving investors the power to reject excessive pay packages." November 12, 2008 Australian Financial Review

"CBH BOARD LATEST IN THE FIRING LINE: The board of CBH Resources is the latest to incur the wrath of shareholders voting down the directors' remuneration package, after a 90 per cent fall in the value of the company in the past 12 months." November 12, 2008 Australian Financial Review

"SHAREHOLDERS KEEN TO SEE BUCKS STOP WITH THE BOARD: Boards are copping it from shareholders over remuneration plans set in better times, as well as grappling with how to motivate management for the tough road ahead." November 11, 2008 Australian Financial Review

"THEY'RE A LITTLE OUT OF WHACK: When former Queensland premier Rob Borbridge quite the board of CEC Group early last month, the share price promply doubled and the company recieved a speeding ticket from the Australian Securities Exchange." November 11, 2008 Australian Financial Review

"POUND OF FLESH DEMANDED FROM MERCHANTS OF GREED: What might be called a "salary seige" has taken hold across corporate Europe, as the most conspicuous symbol of the boom years - booming executive salaries - comes under attack from every direction." November 11, 2008 Australian Financial Review

"PERFORMANCE NO HURDLE WHEN MERGERS ARE INVOLVED: It pays to be in a hot area of the global economy." November 11, 2008 Australian Financial Review

"BROKERS ARE MOSTLY BROKER THESE DAYS: The multimillion-dollar bonus is a thing of the past in the world of stockbroking." November 11, 2008 Australian Financial Review

"CARROT ON SHORTER STICK, STRINGS ATTACHED: Boards are revising remuneration structures for senior execuitves as the financial crisis strips value from equity-based incenitve pay." November 11, 2008 Australian Financial Review

"APRA TARGETS RISK-REWARD INCENTIVES: Prime Minister Keven Rudd might still be feeling his way with parts of the business community, but he knows a winner when he sees one." November 11, 2008 Australian Financial Review

"HIGH-FLYERS FEEL PINCH AS COMPANIES FAIL TO DELIVER: The slowing economy and the worst sharemarket performance in 26 years have combined to cap the growth of executive remuneration, and the trend is likeley to continue for the year ahead as boards review pay to account for slower earnings growth." November 11, 2008 Australian Financial Review

"DUBAI STILL THE PICK AS SUNLAND EYES SALARY CUTS: International developer Sunland is moving to cut executive salaries as the global credit crisis deepens but did not take the knife to directors' salaries at its annual meeting on the Gold Coast yesterday." November 11, 2008 Australian Financial Review

"QIC LIFTS BONUSES 30PC DESPITE PLUNGE: Queensland Investment Corporation, the $83 billion government owned institutional manager, has increased bonus payments to staff by about 30 per cent, to more than $30 million, despite profits plunging almost 60 per cent." November 10, 2008 Australian Financial Review

"BIG BUCKS FOR EXECUITVES AT THE SMALLER END OF TOWN: As shareholders vote down the big executive pay packets of top 100 giants like Boral and Transurban, spare a thought for the investors in Raw Capital Partners, a Brisbane based information technology and corporate advisory firm." November 10, 2008 Australian Financial Review

"MACQUARIE RETHINKS BONUSES: Macquarie Group is reviewing the way it rewards staff in a move that could result in its 13,700 employees having to settle for moe equity and less cash in their annual bonuses." November 7, 2008 Australian Financial Review

"TOLL SHAREHOLDERS IRKED BY BIG PAYOUT: Toll Holdings' remuneration report has been rejected by a heafty 42 per cent of shareholders unhappy with it paying $56 million to executives to buy out options as part of the Asciano demerger." October 31, 2008 Australian Financial Review

"PAY CLAMPDOWN NOT NEEDED HERE: Right now for investors, the complex factors of executive pay boil down to a single cry: overpaid." October 27, 2008 Australian Financial Review

"BANKER SUES WESTPAC OVER REDUNDANCY: In the latest of a series of high-profile employment lawsuits, former Westpac head of mining finance Haydn Lynch is suing the bank for allegedly breaking promises when it made him redundant late last year." October 27, 2008 Australian Financial Review

"DEMAND FOR TOUGH NEW RULES ON EXECUTIVE PAY: Superannuation funds are demanding reforms to the Corporations Act to force the boards of publicly listed companies to explain big increases in salaries and cash bonuses for executives and to put a dollar figure on potential golden parachute payments for senior managers." October 27, 2008 Australian Financial Review

"EMPLOYEES LOWER THEIR EXPECTATIONS: Salaries expectations have been reined in and bonuses are harder to come by as the ecomomic slowdown takes its toll on white collar jobs, recruiters say." October 23, 2008 Australian Financial Review

"EXECUTIVE PAY UNDER SPOTLIGHT: Executives will have their pay packages scrutinised under plans by Prime Minister Kevin Rudd to curb "extreme capalists" within financial services companies." October 23-29, 2008 BRW

"PROFIT TARGETS TO TEST JONES PULLING POWER: John Singletons's Macquarie Radio Network has revealed the exercise price of the 4 million new share options it plans to give its star announcer Alan Jones: zero." October 22, 2008 Australian Financial Review

"STOCKLAND BLEAK ON INVESTMENT OUTLOOK: The outlook for Australian investment property values remains bleak, with capitalisation rates sofening a further 50 basis points since June 30 this year, Stockland managing director Matthew Quinn said yesterday....The grim outlook led Stockland chairman Graham Bradley to announce a freeze on directors' fees and the base pay of senior executives for fiscal 2009." October 22, 2008 Australian Financial Review

"EXECUTIVE PAY CURBS GO GLOBAL: The move to curb executive pay in the wake of the financial crisis continued to gain momentum overnight as Germany and Sweden joined the list of nations putting limits on financiers' compensation as part of efforts to rescue their banking systems." October 21, 2008 The Australian

"SOLACE, BUT NO SOLID ADVICE FROM THE TOP: He's the Prime Minister and he's here to help but Kevin Rudd was not pretending last night to be able to advise Australians on how to manage their personal financial affairs." October 20, 2008 Australian Financial Review

"CUTTING TOP SALARIES - CAN IT BE DONE? - Next Wednesday shareholders at Asciano's annual general meeting will be all ears." October 18-19, 2008 Australian Financial Review

"BUSINESS BACKLASH OVER PM SALARY PLAN: Corporate leaders have warned Prime Minister Kevin Rudd against imposing tough rules on executive salaries as the government softened its stance on the issue, conceding that most banks were well run and their executives paid appropriately." October 17, 2008 Australian Financial Review

"REGULATORS TALK TOUGH ON BANK BONUSES: Britain's financial regulator has launched a review of the way salaries are set in the banking sector but has steered away from setting specific salary caps." October 16, 2008 Australian Financial Review

"NOT SO MANY GOLDEN PARACHUTES: The US treasury's move to rein in Wall Street salaries as part of its bank recapitalisation plans may do little to alter the way banks reward their executives" October 16, 2008 Australian Financial Review

"STAKES RAISED IN A DECADES-OLD DEBATE: Prime Minister Keven Rudd has dramatically upped the ante in the decades-old debate about excessive executive salaries and pay structures that many argue encouraged executives to take undue short-term risks for personal gain." October 16, 2008 Australian Financial Review

"RUDD MOVES TO CURB BANK PAY: Bank executives would have their pay packages targeted to discourage risky lending under a radical governement proposal to use the regulation of capital reserves to overhaul remuneration across the financial services sector." October 16, 2008 Australian Financial Review

"UK BANKERS' PAY WILL BE UP TO BOARDS: British bankers' bonuses would remain up to company boards, the UK's financial regulator siad yesterday." October 14, 2008 Australian Financial Review

"MANY OPTIONS FOR JONES, FEWER FOR 2GB: Sydney breakfast radio king Alan Jones will remain on air until at least June 30, 2013, after signing a new contract with Macquarie Radio Network, the owner of radio station 2GB. As part of the new deal, Macquarie will pay $4.5 million for the 11.25 million share options Mr Jones was given when he joined 2GB six years ago and issue him with 4 million new options." October 10, 2008 Australian Financial Review

"UNITED STANDS BY CEO'S 30PC PAY RISE: Engineering services firm United Group has defended a 30 per cent pay rise for its long-serving chief executive, Richard Leupen, saying generous increases are necessary to prevent key staff from being poached as the company expands globally." October 10, 2008 Australian Financial Review

"SPA ATTRACTION A MONUMENT TO EXCESS: American International Group spent $US440,000 ($619,000) on a conference at a California resort less than a week after a $US85 billion government takeover, according to a congressional hearing yesterday." October 9, 2008 Australian Financial Review

"WAGES OF SIN EASE PERFORMANCE ANXIETY: It's just posted a net loss of $2.5 million (almost doubling the $1.4 million loss in 2007), its market capitalisation is $3 million and its shares are trading at 0.8 cents. So it is heartening to see that the remuneration committee at Perth-based online sex shop Adultshop.com decided to pay no performance-related payments to the board or divisional general managers for the 2008 financial year." October 8, 2008 Australian Financial Review

"WA TEACHERS GET 6PC PAY RISE: One week after West Australian Treasurer Troy Buswell promised an urgent round of public-sector cuts in a bid to slash record recurrent spending, the new Liberal government has decided to spend an extra $120 million this year on teachers' salaries." October 7, 2008 Australian Financial Review

"EXECUTIVE CONTRACTS TESTED IN GLOBAL CRISIS: Contracts between companies and their senior executives are likely to be tested amid the global financial crisis, lawyers have warned." October 7, 2008 Australian Financial Review

"IT BONUSES FUEL ROW OVER EXECUTIVE PAY: In a market racked with pain, some investors are smarting more than others." October 7, 2008 Australian Financial Review

"SHAREHOLDERS TARGET BOARDS IN EXECUTIVE PAY REVOLT: Corporate boards face a backlash against ballooning executive pay in poorly performing companies and lax hurdles for bonuses and share-based incentives, as world financial turmoil and falling profits reignite the remuneration row at this year's annual general meeting season." October 6, 2008 Australian Financial Review

"BIG PAYOUTS NOT A PROBLEM HERE: The US government's latest financial intervention and regulation of executive pay is a response to an issue that originated in its own backyard but has infected the rest of the world." October 6, 2008 Australian Financial Review

"ALL SET TO THROW THE BOOK AT DIRECTORS: Companies are scrambling to get their houses in order before the annual general meeting season, in which many face a backlash against their corporate governance records." October 6, 2008 Australian Financial Review

"WESFARMERS CHIEF EYES $7M SALARY ON COLES JOB: Wesfarmers boss Richard Goyer is poised to become WA's best paid chief executive after the introduction of a swag of incentves tied largely to the Coles Group turnaround put him in line to pocket nearly $7 million." September 27, 2008 The West Australian

"BATTERED BBP DEFENDS SEVENFOLD RISE IN EXECUTIVE BONUSES: Babcock & Brown Power, troubled owner of Alinta gas retail network, has defended the sevenfold increase in the short-term bonuses paid to its top executives last financial year, the same period in which it suferred a catastrophic fall in its share price and was forced to write down the value of its assets by $452 million." September 27, 2008 The West Australian

"SUPERSIZED SALARIES: Some of the biggest financial firms that could benfit from the government's rescue plan also handed out some of Wall Street's biggest paychecks to their top executives." September 25, 2008 Australian Financial Review

"CONGRESS CONSIDERS CURBS ON EXECUTIVES' PAY: Congress wants Wall Street executives to feel it where it hurts: their wallets." September 25, 2008 Australian Financial Review

"TWICE AS EASY FOR CEO PAY RISES: Bendigo and Adelaide Bank plans to halve the earnings performance hurdle attached to share options it will award executive director Jaimie McPhee due to what it describes as "tougher" market environment." September 25, 2008 Australian Financial Review

"IRRESPONSIBLE BONUS SYSTEM UNDER FIRE: As political leaders step up attacks on the "culture of greed" they blame for contribution to the global financial crisis, the UK's main financial regulator has warned banks that if they encourage excessive risk taking by employees they could be forced to set aside extra capital." September 23, 2008 Australian Financial Review

"EMPLOYERS FACE HEAVY-DUTY COURT CLAIMS: Bosses are facing a series of new claims from workers after an appeal court upheld an earlier ruling about the implied duties of employers in employment contracts." September 23, 2008 Australian Financial Review

"UNION BACK REDUNDANY PAY: The ACTU supports ensuring small business employees have access to redundancy pay of up to eight weeks." September 23, 2008 Australian Financial Review

"AVOID THE EXIT WOUNDS: A mad scramble of baby boomers attempting to exit their businesses over the next 10 years could end in disappointment for many." September 18-24, 2008 BRW

"EXECUTIVE SUIT: Companies bidding senior executives farewell should be mindful that their next encounter with the former employee could be in a courtroom." September 18-24, 2008 BRW

"AS FIRMS GROW, PARTNERS REWARDED: Partners' pay packets are healthy despite uncertain times." September 19, 2008 Australian Financial Review

"EMPLOYERS WIN NEW IR POWERS: Employers will be given new powers to dock the pay of workers who take part in partial strikes or work bans under Labor's new industrial relations system on an attempt to prevent an increase in industrial action." September 18, 2008 Australian Financial Review

"DIRECTORS PASS ONE TEST BUT BIG QUESTIONS REMAIN: The majority of directors on the average top 100 sharemarket-listed company board are independent, governance research has found." September 17, 2008 Australian Financial Review

"SHARE PLAN WARNING: Executive stock options and share plans will continue to be subject to close scrutiny from the Australian Taxation Office, Deloitte reward partner Joe Tropeano has warned." September 11-17, 2008 BRW

"ATO FINES RECALCITRANT HIGH-FLYERS: More than 100 executives with remuneration packages over $1 million failed to disclose an average of $180,000 each in their tax returns, tax commissioner Michael D'Ascenzo said, as he warned of an expanded crackdown on executive pay." September 13, 2008 Australian Financial Review

"LASHED BY THE LAW, THE DIRECTORS ARE REVOLTING: John Colvin , who joined the Australian Institute of Directors last week as its new chief executive, says the volume of legislation impacting on directors is "totally out of hand"." September 13, 2008 Australian Financial Review

"TOP-TIER PAY A RED REG TO WOUNDED INVESTORS: Annual meeting season is almost upon us and it promises to be one of the more combative periods or corporate interaction in years." September 13, 2008 Australian Financial Review

"BANKERS' OPTIONS ARE CLEAR: St George shareholders may be sleeping slightly easier about selling their "small" bank to a "big" bank after its board this week struck a sweetheart deal to pay out an extra $160 million to shareholders via a special dividend." September 10, 2008 Australian Financial Review

"TURNOVER AT THE TOP GATHERS PACE: Who'd want to be a CEO?" September 10, 2008 Australian Financial Review

"JOBS, PERKS AXED AS EMPLOYERS SCRAMBLE TO CUT COSTS: Employees of major companies are bracing for more job losses and further cuts in discretionary spending as the fallout from the credit crisis and the slowing economy force management to slash costs." September 2, 2008 Australian Financial Review

"PAY PACKET PALPITATIONS: The blowtorch on executive pay will turn up a few notches this year." August 21-27, 2008 BRW

"THE FULL BOTTLE ON PAY REVIEWS: Former rugby league star Sonny Bill Williams recently demonstrated the lengths to which some people will go to get a pay rise." August 15, 2008 Australian Financial Review

"PACKAGES UNDER THE MICROSCOPE: Executives working for private and foreign-owned companies will be closely scrutinised by the Tax Office this year after reviews of 175 senior executives in 2007-08 raised more than $27 million." August 14, 2008 Australian Financial Review

"SHORT-TERM WINS DRIVE $13.4M BONANZA: Less than nine months ago a resounding majority of Telstra shareholders voted down the telco's new executive pay structure. " August 14, 2008 Australian Financial Review

"BOARDS TO REVIEW EXECUTIVE SALARIES: Boards of listed companies are under increasing pressure to restructure the remuneration of their senior executives as the volatile sharemarket and a sharp slowdown in corporate earnings growth slash the value of options and incentive packages." August 4, 2008 Australian Financial Review

"CHARLES MACEK: This is the first year for many, many years where sharemarket returns will be negative. This is going to be the issue confronting remuneration committees for the next 12 to 18 months." August 4, 2008 Australian Financial Review

"GORDON CAIRNS: I think it's a very inexact science. Good boards and companies are trying to get something that is fair, fair to the individual and fair and equitable for the shareholders." August 4, 2008 Australian Financial Review

"TREVOR ROWE: With setting options and the like for long-term incentives or rewards going forward, one would take into account the new realities of the market in which we find ourselves. I don't believe in renegotiating outstanding long-term arrangements." August 4, 2008 Australian Financial Review

"EXECUTIVES EXAMINE OTHER PAY OPTIONS: remuneration consultants expect companies to revise the mix of their executives' remuneration packages to ensure their key talent is nmot unduly penalised by the shaaremarket correction." August 4, 2008 Australian Financial Review

"EXECUTIVE PAY NEEDS CLARITY, NOT CONTROL: Both the French and German presidents, Nicolas Sarkozy and Horst Kohler, have called for greater regulation on executive pay." July 21, 2008 Australian Financial Review

"SALARY BONUSES REACH UNI SECTOR: Swinburne University will reward top-notch staff with bonuses of up to 10 per cent in a move forcast to spur the introduction of performance-pay schemes across the sector." June 30, 2008 Australian Financial Review

"TRUST TO LOWER HURDLES IN BID TO KEEP STAFF: Trust Company plans to lower its executive teams' long-term incentive hurdles in an effort to attract and retain top talent in the financial services sector." June 25, 2008 Australian Financial Review

"BANK CHIEFS DO EARN THEIR PAY: Rising interest rates, higher fees, growing profits and fatter chief executive officer pay packets - all developments in the banking sector seem to easily draw our attention." June 23, 2008 Australian Financial Review

"TALENT WAR RAGES DESPITE LEAN TIMES: The war for young talent will be just as fierce this year as employers maintain their graduate programs despite some investement banks cutting overall staff numbers in response to the global credit squeeze and slowing economy." June 20, 2008 Australian Financial Review

"SKILLS SHORTAGE GIVES PROJECT MANAGERS SALARY POWER: The shortage of some skills is driving up salaries in IT departments across Australia, according to study finjdings released by a specialist IT recruitment firm yesterday." June 19, 2008 Australian Financial Review

"BIG PROJECTS DRIVE UP SALARIES: Salaries in the property industry have increased by between 10 and 15 per cent in the past year as major infrastructure projects drive demand for staff." June 19, 2008 Australian Financial Review

"IN STOCK PLAN, EMPLOYEES SEE STACKED DECK: Thousands of workers at U.S. Sugar thought they were getting a good deal when the company shelved their pension plan and gave them stock for their retirement instead." May 29, 2008 Australian Financial Review

"COMPLIANCE SUCKS THE LIFE OUT OF DIRECTORS: A survey of board members at Australia's largest sharemarket-listed companies finds that life as a director of a listed company is complicated and getting harder." May 26, 2008 Australian Financial Review

"CALL TO PAY TEACHER MORE: The salaries of Australia's best-performing teachers would be boosted to as much as $130,000 a year under a $4 billion proposal by the business Council of Australia aimed at lifting the quality of education." May 26, 2008 Australian Financial Review

"MINIMUM PAY RISE FOR 457 VISA HOLDERS: The federal government has announced a 3.8 per cent increase in the minimum salary level for workers covered by the 457 temporary skilled migration visa program." May 26, 2008 Australian Financial Review

"EXECUTIVE ADS DECLINE: The EL Index of executive advertising is showing its worst performance in two years, with a 6 per cent decline in positions being advertised nationwide, and positions in marketing and sales management tanking to a 26 per cent fall." May 22 - 28, 2008 BRW

"PM CALLS FOR CORPORATE RESTRAINT ON PAY: Prime Minister Kevin Rudd has urged corporate executives to show restraint on pay, taking a veiled swipe at new Maquarie Group chief Nicholas Moore's $16.8 million salary." May 21, 2008 AAP

"PRODUCTIVITY MUST PAY FOR RISING WAGES: The first budget by federal Treasurer Wayne Swan has generally been well received by employers and unions." May 21, 2008 Australian Financial Review

"THIN ARGUMENTS ON FAT SALARIES: There is no evidence that Australian executive banker pay contributes to excessive risk." May 21, 2008 Australian Financial Review

"FALL IN EXECUTIVE PAY SHOWS SYSTEM IS WORKING: Retiring Macquarie Group boss Allan Moss will receive almost $50 million in total remuneration when he retires at the end of the week." May 21, 2008 Australian Financial Review

"DIRECTORS FACE HIGHER PREMIUMS: Companies are set to pay more for insurance to protect their directors against legal actions because of an expected surge in claims flowing from the credit crunch." May 20, 2008 Australian Financial Review

"AFTER THE LONG LUNCH IT'S EXIT THE TAX-FREE SANDWICH: Two decades after Paul Keating abolished the free lunch, Labor has continued its assalt on work perks, by abolishing the tax-free sandwich." May 17-18, 2008 Australian Financial Review

"TALENT SHORTAGE SHIFTS EMPHASIS TO STAFF RETENTION: The labour market for property and construction professionals has never been tighter, and as a result companies are thinking more about retaining staff, rather than focusing exclusively on recruitment." May 16, 2008 Australian Financial Review

"CLOSE CALL FOR ABC CHAIRWOMAN ON SHARES: ABC Learning Centres' outgoing chairwoman has admitted she narowly escaped a margin call on her 695,000 shares on February 26, when the "sky fell in" and the childcare group's shares pluinged from $3.74 to $1.15." May 16, 2008 Australian Financial Review

"KOEHLER LINKS HIGH EXECUTIVE PAY TO SUB-PRIME CRISIS: Political leaders across Europe have begun to respond to public anger at the soaring rates of executive pay, which has become a strong political issue as the effects of the global credit crunch begin to hit the general public." May 16, 2008 Australian Financial Review

"THE HUNT FOR A NEW WORK ORDER: Martin Whittaker has a credo: the secret to business success is to "attract, retain and develop" good people." May 15 - 21, 2008 BRW

"CLOSING OF 'LOOPHOLE' BEMUSES TAX LAWYERS: Tax experts say the govenment has overstated the effects of strengthening the taxation integrity of employee share schemes, but there is an upside for participants in multiple and trustee employee share plans." May 15, 2008 Australian Financial Review

"DEDUCTIBILITE INTEREST COST TO BE CUT: The financial services industry has criticised the decision to styme a popular year-end tax strategy by reducing the tax-deductible component of capital protected loans to buy shares." May 15, 2008 Australian Financial Review

"COUPLES LOSE CHANCE TO EXPLOITE AN FBT TAX BREAK: the federal government expects to save almost $50 million over the next four years by stopping couples exploiting salary sacrifice arrangements to invest in assests without paying fringe benefits tax." May 15, 2008 Australian Financial Review

"EMPLOYEE OPTIONS LOOPHOLE CLOSED: A loophole that allows executives to choose when options granted under employee share schemes are taxed will be shut down, allowing the government to recoup $77 million." May 14, 2008 BUDGET 08, Australian Financial Review

"CAPITAL PROTECTED PRODUCT SHAKE-UP: The federal government has moved to curtail the tax advantages from capital protected equity loan products, changing the benchmark indicator used to assess the income tax deduction." May 14, 2008 BUDGET 08, Australian Financial Review

"INCOME TESTS TO COVER CONTRIBUTIONS: Investors who sacrifice salary into superannuation to obtain benefits such as the govenment co-contribution and other government entitlements have been given notice that these opportunities won't be around much longer." May 14, 2008 BUDGET 08, Australian Financial Review

"SWAN IN TAX LOOPHOLE ROW: Treasurer Wayne Swan has been accused of making misleading claims in his pledge to close a $77 million "loophole" that allows high-income earners and people who have accumulated shares or rights through their company to dodge their share of tax." May 5, 2008 The Age

"ON THE JOB: The outlook for financial accounting professionals across Australia for the next twelve months is overwhelmingly positive." May, 2008 INTHEBLACK

"WAGES CONTINUE TO RISE: Despite talk of an economic slowdown, salaries have risen by 4.7 per cent over the past 12 months - the highest movement in over three years, according to a Mercer survey." May, 2008 INTHEBLACK

"AUSTRALIAN REGIONAL SALARY MOVEMENTS: Western Australia continues to remain the current powerhouse of economic growth for Australia, with overall fixed pay movements rising well above the national average at 5.7%." May, 2008 INTHEBLACK

"NEW DIRECTIONS: Most shareholders believe that executive pay should reflect their own returns." May, 2008 Company Director

"TURBULENCE AHEAD FOR MINERS: The issue of director pay is getting more attention as calls grow for greater use of long-term incentives to better align director and shareholders interests." May, 2008 Company Director

"SEAN'S BARE OPTIONS: Tax advisers have called on Treasurer Wayne Swan to elaborate on his flagged changes to employee share options after his comments yesterday caused rife speculation about the potential nature and scope of the amendments and raised concerns amoung clients of tax firms." May 2, 2008 Australian Financial Review

"CLOSED LOOPHOLE MEANS 'FAIR GO': The Rudd government has assured low-income earners they would get a "fair go" in the federal budget, as it talked up plans to save $77 million over four years by closing a tax loophole on the use of employee share options." May 2, 2008 Australian Financial Review

"EXECUTIVE SHARE ISSUES TO FACE VOTE: Listed companies could be required to seek investor approval for share-based payments to executives who are not directors under an Australian securities Exchange proposal considered by Corporate Governance Minister Nick Sherry." April30, 2008 Australian Financial Review

"TAX STRATEGIES FOR VOLATILE TIMES: With stock prices low, it may be a good time to exercise options, because (if) the tax paid is based on the market value at the time of exercise. Any future growth will be taxed as a capital gain and could benefit from a 50 per cent discount if they are held for at least 12 months." April30, 2008 Australian Financial Review

"MOTIVATING DIRECTORS IS THE BEST OPTION: Few shareholders would be aware of the mountain of economic literature dealing with their relationship (as owners) with directors (as their representatives) and executives (as their managers)." April 24-27, 2008 Australian Financial Review

"NO SACRIFICE IN SALARIES: Academics at the Australian National University say corporate governance guidlines introduced in the past few years have not improved the link between chief executive pay and performance." April 10 - 16, 2008 BRW

"CALLING ALL WORKERS: Twenty years of changes in the employment market have pushed labour into the forefront of the most important issues facing business." April 10 - 16, 2008 BRW

"LABOR PLANS NEW WAVE OF IR REFORM: The Rudd government has drawn up a confidential list of matters that are up for negotiation in its next wave of workplace reforms, including rules governing collective bargaining, industrial action and ways for unions to force employers to the negotiating table." April 9, 2008 Australian Financial Review

"CARRER PROSPECTS MEAN MORE THAN SHORT-TERM INCENTIVES: Firms trying to attract talent in a tight market may be offering lawyers golden handshakes worth $20,000 but for experienced lawyers and graduates alike meaningful careers and personal conections rate higher than lump sum inducements." April 4, 2008 Australian Financial Review

"THE PROFESSIONAL GRASS IS GREENER AT HOME: Australians with good qualifications have traditionally headed overseas for more experience and money, but the old drivers of that trend - money and conditions - may not be as strong as they once were." April 4, 2008 Australian Financial Review

"BARE SKIN IN THE GAME: If the board members don't own a company's stock, why should I?." April, 2008 Company Director

"THE INIQUITY OF EQUITY: Seven or eight-figure salaries are no longer enough. Now senior executives need equity stakes in a company to motivate them." March 27 - April 3, 2008 BRW

"A WEALTH OF OPTIONS: Designed well, options and share packages are the best way to align executive and shareholder interests." March 27 - April 3, 2008 BRW

"DIRECTORS' CUT: Those who argue that non-executive board directors need more "skin in the game" should study the BRW Executive Rich list. It has enough skin to cover a herd of elephants." March 27 - April 3, 2008 BRW

"CARROTS COP SOME STICK: Executive options, from which many of the BRW Executive Rich derive the bulk of their shareholdings, are making a strong comeback after dying earlier this decade. So they should. Designed well, options are the best way to align executive and shareholder interests." March 27 - April 3, 2008 BRW

"FAIR PAY CHIEF CONSIDERS RISE TO COMPENSATE FOR INFLATION: The minimum wage regulator has signaled that a significant pay rise was possible for low-paid workers later this year as the nations unemployment rate fell to the lowest level in 33 years in a sign the economy still faces inflationary risks." March 14, 2008 Australian Financial Review

"LEUPEN POSES EQUITY DILEMMA: United Group chief executive Richard Leupen is finding it hard to take a trick at the moment." March 13, 2008 Australian Financial Review

"BOARDS TARGET EXECUTIVE MARGIN LOANS: United Group's Richard Leupen has become the first chief executive to voluntarily remove all margin loans from his shareholdings, selling half his $50 million-plus stake in the engineering group to isolate himself from rising concern over the exposure of company directors to margin lending." March 13, 2008 Australian Financial Review

"EMPLOYEES SEARCHING FOR BETTER OPPORTUNITIES: A survey has found more than half of all Australian employees are looking for new jobs. Recruitment firm Hudson says 19 per cent are actively looking for work through a range of means including calling prospective employers." March11, 2008 ABC News

"ANZ BAULKED AT EXEC'S PAYOUT CLAIM: Former Australian and New Zealand Banking Group executive Steve Targett was told his request for a golden parachute severance package, to be activated if he failed to secure the top job as chief executive officer, would look "very bad" from a corporate governance perspective, court documents allege." February 20, 2008 Australian Financial Review

"SHERRY TARGET EXECUTIVE PAY: The federal government has signalled it plans to look closely at the link between executive remuneration and company performance, while also examining the standards governing company directors." February 20, 2008 Australian Financial Review

"SKILLS SHORTAGE RUNS DEEP: Attraction and retention strategies are essential features of today's workplace." February 14 - 20, 2008 BRW

"MOST CEOS CLEAR EARNINGS HURDLES: Only 4 per cent of shares or options granted to chief executives at top 200 companies lapsed because of poor performance, research has found, raising questions about whether boards are setting hurdles to low." February 13, 2008 Australian Financial Review

"IRS WISE TO EXECUTIVE SHARE DEALS: A strategy that corporate executives routinely use to turn their stock holdings into cash while delaying payment of taxes is coming under increased scrutiny by the US Internal Revenue Service." February 12, 2008 Australian Financial Review

"ABS DATA REVEAL BETTER WORK-LIFE BALANCE: Despite the common complaint of being overworked and under appreciated, Australians are actually working fewer hours than they have for decades. " February 8, 2008 Australian Financial Review

"STAR GRADUATES HIT PAY DIRT: New graduate employees have barely got their feet under their desks and the race is already under way to find the best and brightest for next year, with more than 40 per cent of employers vowing to offer better pay packets to star recruits." February 8, 2008 Australian Financial Review

"EXECUTIVES BOW TO REFORM CALL: Macquarie Group has revamped a long-term executive share plan after a shareholder backlash a last year's annual general meeting against its remuneration practices." February 7, 2008 Australian Financial Review

"IT'S ABOUT TIMELY IDENTIFICATION OF NEW LEADERS: Attracting and keeping the right kind of executives is crucial for any organisation." February 7, 2008 Australian Financial Review

"COMPETITION FOR TALENT WILL STAY FIERCE: If you are looking for a silver lining from a looming economic slowdown, don't pin your hopes on a ceasefire in the war for talent." February 5, 2008 Australian Financial Review

"SHINY HAPPY PEOPLE: High-tech company Google has become famous, not only for its popular search engine, but as a coveted workplace of choice." February, 2008 INTHEBLACK

"AVOIDING THUMBS DOWN: Executive remuneration packages, and rising shareholder votes against them, became somewhat of a thorny issue during last year's Annual General Meeting season." February, 2008 Company Director

"NO RELIEF IN SIGHT FOR SKILLS DROUGHT: The United States credit crisis will have little impact on Australia's skills shortage." January 31 - March 5, 2008 BRW

"SMART EMPLOYERS RUSH TO BANK TALENT: Waiting for a job to be advertised may be a career-limiting move as employers increasingly grab people with the skills they want - even if it means creating a new position or keeping them on stand-by until the perfect role opens up." February 1, 2008 Australian Financial Review

"ATTRACTING AND RETAINING STAFF A PRESSING CONCERN: The shortage of accountants will put pressure on firms this year to find new ways of attracting and retaining staff." February 1, 2008 Australian Financial Review

"FEMALE EXECUTIVES WORKING FOR HALF PAY: Women in senior jobs in Australia's largest companies earn up to 50 per cent less than men in similar positions, a government report has found." January 25 - 28, 2008 Australian Financial Review

"TIME'S RIPE TO FIGHT EXCESS: The former head of Centro Properties Group, Andrew Scott might well say that Centro's plight is due to the sub-prime crisis which he did not cause and could not solve." January 22, 2008 Australian Financial Review

"UNIONS TARGET BANKS OVER LOAN PRACTICES: Australia's big four banks will face a public campaign urging them to follow responsible lending practices, as the Financial sector Union seeks an overhaul of employee incentive arrangements across the industry that is says are fueling the nation's debt binge." January 11, 2008 Australian Financial Review

"SPREADING THE GOOD OIL: ... As a shareholder, I want him (CEO) to have options and not cash, ... What those protest votes are doing is forcing boards to just give big cash salaries to executives." January 7, 2008 Australian Financial Review

"Company Executives: A study by the Australian Financial Review found that the average chief executive receives a remuneration package of $2.56 million, up from $1.99 million in 2006." December 13, 2007 - January 16, 2008 BRW

"AT-RISK PAY PRODUCES RESULTS: In the 2007 financial year, 80 per cent of chief executives enjoyed an increase in total remuneration (up from 67 per cent last year), while 20 per cent suffered a decrease (down from 30 per cent last year)." December 13, 2007 Australian Financial Review

"NO ONE SIZE FITS ALL IN EXECUTIVE REMUNERATION: Next year's AGM may bring a rerun on management pay issues." November 23, 2007 Australian Financial Review

"DIRECTORS ARE COPPING IT HARD: Company directors are in strife. According to one point of view they're paid too much and they're paying blokes running the companies their responsible for too much." November 21, 2007 Australian Financial Review

"PAY BACKLASH PROMPTS SHIFT TO BONUSES: Boards of top-100 companies are paying their chief executives larger annual cash bonuses to avoid an embarrassing investor backlash over pay, experts say." November 21, 2007 Australian Financial Review

"CEO PAY SURVIVES MERRILL LYNCH'S SUB-PRIME LOSS: Merrill Lynch, the US securities firm that ousted its chief executive less than a month ago, will pay the incoming CEO, John Thain at least $US44 million ($49.3 million) in bonus, salary and shares." November 19, 2007 Australian Financial Review

"GRADUATES TURN DEGREES INTO DOLLARS: Graduate salaries are rising faster than the cost of living, and the number of vacancies for university leavers has grown 11.2 per cent in the past year, making it the hottest market for young talent in at least a decade." November 16, 2007 Australian Financial Review

"TOP GENERAL COUNSEL PAY ON THE RISE: Thirteen general counsel at top ASX companies were paid more than six figures in the most recent reporting period, and the top three earned multimillion-dollar wages for in excess of senior partners in top-tier firms." November 16, 2007 Australian Financial Review

"SALARIES SOAR ACROSS BOARD: There may not be a wages breakout but there is certainly a salary breakout in the property industry, with average increases hitting 15 per cent for some positions and 7 per cent on average to keep or attract staff." November 15, 2007 Australian Financial Review

"REMUNERATION REBELS NEED INFORMATION: ...The responsibility for running a company in its entirety is delegated from the shareholders to the board and really a vote of no confidence in the remuneration report is a vote of no confidence in the board. So the ultimate impact is that shareholders should decide whether they want to change the board or not." November 15, 2007 Australian Financial Review

"BOARDS TOLD TO TOE THE PAY LINE: Treasurer Peter Costello has urged company boards to listen to shareholders’ concerns about remuneration policies amid revelations that the pay packages of the top 300 chief-executives rose 28 per cent in 2006-07." November 14, 2007 Australian Financial Review

"PAY-SETTERS IN RACE FOR REWARDS: The increasing use of remuneration consultants highlights potential conflicts of interest." November 14, 2007 Australian Financial Review

"CALL FOR EXEC REMUNERATION RETHINK: although Michael Jensen is an academic famous for advocating performance-based pay two decades ago, now he says that a solution is required." November 14, 2007 Australian Financial Review

"BIG RESULTS MEAN BIG DOLLARS AND BIG QUESTIONS: A fifth straight year of double-digit earnings growth underpinned by the resources boom and the strong domestic economy has driven an average 28 percent pay rise for the chief executives of the 300 largest sharemarket-listed companies during 2007." November 13, 2007 Australian Financial Review

"O’NEALS $177M COMPENSATION FUELS FURTHER ANGER: MERRILL Lynch’s decision to pay O’Neal $US161.5 million ($177 million) sparked outcry given the bank had only just announced a third-quarter write-down of $US8.4 billion relating to sub-prime mortgages gone awry." November 13, 2007 Australian Financial Review

"SKIN MAKES THE GAME REAL: Having skin in the game has never felt so good." November 13, 2007 Australian Financial Review

"PERFORMANCE BENCHMARKS NOT UP TO THE JOB: David Morgan likens it to Russian roulette. The retiring Westpac chief executive is critical of the one-size-fits-all approach when it comes to calculating the long term performance-based component of a senior executive’s pay packet." November 13, 2007 Australian Financial Review

"COMING AND GOING, SHAREHOLDERS COP IT: According to a recent report by Booz Allen Hamilton, internal appointees have usurped outsiders in ascending to chief executive roles in Australia for the first time in seven years." November 13, 2007 Australian Financial Review

"AIN’T WHAT YOU DO, IT’S THE WAY THAT YOU NEGOTIATE: The contrast is the most extreme in this year’s annual salary season, which is turning out wildly different results for executives depending on which industry they are working in, the company they work for and even when they sign up." November 13, 2007 Australian Financial Review

"INVESTORS CAN RIDE THE GRAVY TRAIN, TOO: Macquarie Group boss Allan Moss got paid $73.25 million over the past three years. That’s a lot of money in anyone’s books; but leaving aside the moral question of excess, what exactly did shareholders get for that amount of their capital?" November

OTA

Articles