Articles

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"BLOWOUT IN BANK BONUSES: The big four banks spent between $28 million and $54 million in salaries and bonuses on their top executives last financial year." March 7, 2010 The Sunday Telegraph

"REGULATORS RESHAPING EXECUTIVE REWARDS: Boards are being forced to rethink executive rewards and remuneration in the post-recession world." March 4 - 10, 2010 BRW

"SALARIES EXPECTED TO RISE: Almost a quarter of Australian small and medium enterprises are planning to raise salaries above the rate of inflation during 2010, and three-quarters plan a pay increase of some sort, research by Grant Thornton shows." March 4 - 10, 2010 BRW

"WOODSIDE CHIEF DUMPS SHARES: Woodside Petroleum chief executive Don Voelte is unlikely to be the last senior Australian director selling large tracts of share holdings." March 5, 2010 Australian Financial Review

"EXECUTIVE PAY AN EASY TARGET FOR PROXY ADVISERS: It is often said that a chief executive’s role is the loneliest one in corporate life." March 2, 2010 Australian Financial Review

"BIG EQUALS BONUS: For Australian chief executives it is the case of bigger the company, the more the pay. " February 25 - March 2, 2010 BRW

"PRIVATE SECTOR PAY SLOWS DOWN: a massive burst of public building work has failed to prevent a record slowdown in private sector pay rates adding to signs that inflation pressures are easing. " February 25, 2010 Australian Financial Review

"GRAIN CORP PAY REVOLT: GrainCorp has received a stinging rebuke from shareholders, who voted overwhelmingly against its remuneration report at its annual meeting in Sydney yesterday." February 25, 2010 Australian Financial Review

"EXECS CLOSE IN ON HIGHER BONUS: Nine senior executives at the Commonwealth Bank of Australia are a step closer to earning at least $17 million in bonuses this year after the bank moved up the ranks of a key customer satisfaction survey used to determine the vesting of long-term incentives." February 25, 2010 Australian Financial Review

"FIX SHARE PLAN BUNGLE NOW: The time has come for the government to end its bungled attempts to change the tax treatment of employee share and option schemes and fix the policy once and for all." February 18, 2010 Australian Financial Review

"PRESSURE FOR MORE SHARE PLAN REFORMS: The Board of Taxation is set to recommend that the federal government revisit its botched reforms to employee share schemes, after an outcry that the changes have disadvantaged small start-up and junior mining companies." February 16, 2010 Australian Financial Review

"BANKER CALLS FOR PAY TRANSPARENCY: One of the region’s top investment bankers has calls on his counterparts to introduce more transparency on employee remuneration as scrutiny of banks intensifies and the potential for regulatory intervention on pay heightens." February 16, 2010 Australian Financial Review

"ROW OVER ANZ TOP JOB TO STAY ON TARGET: Steve Targett has lost a bid to delay his $57 million claim against former employer Australian and New Zealand Banking group, despite arguing that his new job will be compromised if he is forced to return to Australia for Federal Court hearings next month." February 16, 2010 Australian Financial Review

"HIGHER CEO SALARIES DON'T ALWAYS PAY OFF: There is now intense debate about how the pay levels of top executives compare with the compensation given to rank-and-file employees." February 12, 2010 Australian Financial Review

"$2.7BN TO BE DIVIDED UP AMONG TROOPS: Employees of Australia's global investment bank will share a total of about $2.7 billion in compensation this financial year as the organisation lifts its bonuses towards the levels that prevailed before the global financial crisis." February 10, 2010 Australian Financial Review

"FLEXIBLE WORK: AN IDEA HERE TO STAY: As organisations ramp up for a happier new year employers are looking around to discover there is a "new normal" in the way business gets done in this country." February 9, 2010 Australian Financial Review

"EMPLOYERS ALARMED AT RETURN OF SKILLS SHORTAGES: Employers have warned that lack of clarity about the Rudd government's overhaul of its immigration program could spark new skills shortages in sectors including accountancy, hospitality and tourism." February 9, 2010 Australian Financial Review

"SALARY INCREASES NOT UNIFORM: The improvement in the economy will lead to a moderate lift in demand for accountants in the first half of the year but salary increases will be dependent on individual functions and not across the board." February 5, 2010 Australian Financial Review

"PAY FREEZES GIVEN COLD SHOULDER: Major firms have been handing out special bonus payments and pledging salary increases to their staff as competitive tension at the top of the market drives a rethink of last year's salary freezes. " January 29, 2010 Australian Financial Review

"REWARDS OVER RETURNS: The chief executive has the most control over a company, so their pay should be the most sensitive to the performance of the organisation, right?" January 21 - 27, 2010 BRW

"PAY REFORMS WILL ENGENDER PUBLIC TRUST: Has the Productivity Commission's final report on executive remuneration been watered down?" January 18, 2010 Australian Financial Review

"REMUNERATION CONSULTANTS IN SPOTLIGHT: The Productivity Commission has recommended improvements to the way companies retain and use remuneration consultants in an effort to alleviate potential conflicts in an effort to alleviate potential conflicts of interest and improve disclosure for investors." January 14, 2010 Australian Financial Review

"CBA CHAIRMAN WARNS ON EXEC PAY: Commonwealth Bank of Australia chairman John Schubert has warned that new rules cutting cash payments to bank executives could drive top talent out of the major banks and undermine moves by the prudential regulator to discourage excessive risk-taking." January 14, 2010 Australian Financial Review

"LONDON UPS ANTE FOR BANK EXECS: A tough new requirement by the UK's securities regulator that top banking executives and earners must defer 60 per cent of their total compensation for a three-year period is pushing some US banks with extensive London operations to say they won't take it anymore." January 12, 2010 Australian Financial Review

"ABBOTT CAUTIONS ON FAIR WORK CHANGES: Opposition Leader Tony Abbot has called for a six-month moratorium from prosecution for small businesses that breach new workplace laws and industrial awards, warning that changes were still being made to awards and many employers were not aware of the new requirements." January 5, 2010 Australian Financial Review

"BOWEN BACKS SOFTER LINE ON PAY CHALLENGE: The Rudd government has given a strong indication it backs a watered-down Productivity Commission recommendation to allow shareholders to challenge executive remuneration, Corporate Law Minister Chris Bowen saying the changes are more workable." January 5, 2010 Australian Financial Review

"FOR A HEFTY REWARD, VALUE MUST BE IN THE EQUATION: Some in the corporate world may disagree, and of course there are vested interests aplenty in that world, but there is little genuine doubt executive and boardroom remuneration has exceeded the reasonable man defence in recent years." January 5, 2010 Australian Financial Review

"CLEAR REPORTS A HIGH PRIORITY: Plain English summaries of the actual pay given to executives and clearer guidelines on best practice for remuneration reporting are among a number of Productivity Commission recommendations designed to give shareholders clearer information about pay in annual reports." January 5, 2010 Australian Financial Review

"PRUDENCE HOLDS SWAY ON PAY: There is no shortage of envy among the Australian public over executive pay packets, but it has taken the Productivity Commission seven months to reach the conclusion that there are no glaring inequities in how much our top corporate brass are paid." January 5, 2010 Australian Financial Review

"BRICKBATS FOR EXECUTIVE PAY REFORMS: Business is still opposed to key parts of the Productivity Commission's recommendations on executive pay and is calling on the federal government for further consultation before new laws are brought in this year." January 5, 2010 Australian Financial Review

"EMPLOYERS FACE WAGES BREAKOUT: Employers are facing new demands from the union movement as it pushes for the minimum wage review covering more than 1 million workers to include a "catch-up" amount to offset the pay freeze imposed in 2009." January 5, 2010 Australian Financial Review

"BITE ON BOSSES AS BETTER TIMES ROLL: The war for talent is set to resume this year as skill shortages surface and employees who hunkered down last year look to switch jobs." January 4, 2010 Australian Financial Review

""TWO STRIKES" EXEC PAY PLAN SOFTENED: The Productivity Commission has substantially toned down its controversial recommendation for a "two strikes" proposal in the final version of its report on executive pay released by the government today." January 4, 2010 Australian Financial Review

"TWO STRIKES PAY PLAN LIKELY TO BE EASED: The Productivity Commission is expected to substantially water down its controversial "two strikes" proposal in the final report on executive pay that will be handed to the federal government today." December 21, 2009 Australian Financial Review

"SHARE SCHEME REFORMS OFFER CERTAINTY: The Rudd government's controversial tax changes to employee share scheme laws were passed by parliament yesterday, more than six months after the bungled budget announcement that provoked a backlash from business and unions." December 3, 2009 Australian Financial Review

"BIGGER BONUSES AT BANKS THIS YEAR: As the British Treasury moves to seize control of bonuses at the state-backed Royal Bank of Scotland, Australian banks are deep into their own bonus period and the spoils are expected to be better than last year after a bumper annual profits season." December 3, 2009 Australian Financial Review

"EXEC PAY RULES WIN OVER BANKERS, BUT NOT CRITICS: Bankers and their advisers backed the executive pay guidelines issued by the Australian Preudential Regulation Authority on Monday, but some governance groups complained that the changes did not go far enough." December 2, 2009 Australian Financial Review

"BOSSES SHOWN THE DOOR: The number of chief executives forced to resign has skyrocketed as a result of the financial crisis and more assertive action from company boards, a study of the to 200 listed companies has found." November 27, 2009 Australian Financial Review

"ASPEN PAY UNDER ATTACK: Influential proxy adviser RiskMetrics has blasted the remuneration practises of property fund manager Aspen Group ahead of the company's annual meeting in Perth tomorrow, labelling the salaries of its executive directors excessive." November 18, 2009 Australian Financial Review

"ROLES, SALARIES OUT OF SYNC: Despite the prevailing financial climate giving senior information technology executives greater board visibility during the past year, few saw that higher level of strategic importance reflected in their salary packages." November 17, 2009 Australian Financial Review

"HOLES APPEAR IN PAYOUT CAPS: Executives will face legislated caps on their termination payments from next week after the government gained Senate approval yesterday for tough new laws - only to find that companies are devising a way around them." November 17, 2009 Australian Financial Review

"EXECS NAB SUPERIOR RETURNS: Ralph Norris and the crew at Commonwealth Bank of Australia have won plaudits for promising pay cuts for senior executives." November 17, 2009 Australian Financial Review

"SHAREHOLDER PROTESTS MOUNT OVER PAYOUTS: No iconic image or rousing quote will mark what happened yesterday in the silent revolution in shareholder activism, but Australian corporate boards received a clear message: inflated pay packets and poor standards of corporate governance won't wash anymore." November 13, 2009 Australian Financial Review

"CORPORATE PACKAGES TOP THE PAY SCALES: Eleven general counsel at top-listed companies earned million-dollar salaries in the most recent reporting period, even as total packages for many corporate lawyers were hit by the declining value of bonuses in a weaker sharemarket." November 13, 2009 Australian Financial Review

"THE CYCLE REPEATS: As the late and grammatically incorrect American comedian Rodney Dangerfield might have put it, Wall Street bankers just don't have no respect these days." November, 2009 BOSS

"MYTH BUSTING: The issue of executive remuneration has ever greater relevance in recent times, with regard to the global economic climate and increased levels of public and government scrutiny." November, 2009 BOSS

"PAY FRAY: As the anniversary of the Lehman Brothers collapse came and went in September, a rash of reports in Australia and overseas confirmed that pay rises and termination payments were being distributed to senior executives of companies that had recorded substantial losses." November, 2009 BOSS

"BONUS BLUE AT COMPUTERSHARE: Computershare has suffered its biggest protest vote at an annual general meeting, with shareholders coming close to voting down its revised bonus plan for top executives." November 12, 2009 Australian Financial Review

"RECOVERY ACCELERATES PUSH FOR EXECUTIVE PAY RISES: The economic recovery and a big rebound in the share market over the past seven months are likely to intensify pressure for executive pay rises after a double-digit decline in total pay packets during 2009-09." November 12, 2009 Australian Financial Review

"IN PLAIN ENGLISH: CAST YOUR VOTE: The problem with the endless debate about executive remuneration is that it's not really capable of going anywhere." November 11, 2009 Australian Financial Review

"UNDERPERFORMING CAN STILL PAY: Not all executives are showing restraint with salary packages in spite of the tough conditions." November 11, 2009 Australian Financial Review

"BIG REWARDS COME WITH A LOT OF HOT AIR: Allan Campbell could be forgiven for wearing a wry smile as the global financial crisis slashed the multimillion-dollar bonuses of many bankers." November 11, 2009 Australian Financial Review

"SLASHED PAY - IT'S AN ACCOUNTING ILLUSION: Greg Goodman might have thought things could not get any worse when he was forced to sell a large parcel of shares in his listed Goodman Group last year amid concerns about potential margin problems." November 11, 2009 Australian Financial Review

"CHIEFS MAKE HAY AS SUN SHINES: Barry Lambert received some handy financial advice from an unexpected source late last year." November 11, 2009 Australian Financial Review

"MANY TRICKS USED TO GET TREATS: Executive remuneration took on a whole new meaning this year." November 11, 2009 Australian Financial Review

"UGLY DISASTERS DON'T STOP HANDSOME PAY: The idea that chief executives are only paid handsomely when they perform is a nonsense." November 11, 2009 Australian Financial Review

"CHIEFS ESCAPE TOUGH SANCTIONS ON PAY: Allan Fels was never the preferred choice of many chief executives as the person to help spearhead the federal government's assault on executive pay." November 11, 2009 Australian Financial Review

"YEAR OF LIVING WITH LESS LUXURY - BUT MORE NECESSITIES: The pay packets of the nation's top executives have experienced an unprecedented double-digit decline over the past year as the global financial crisis forced boards to slash bonuses and revised valuations on many long-term incentive plans." November 11, 2009 Australian Financial Review

"TIME TO FOCUS ON PERFORMANCE: Halfway through this year's annual general meeting season its clear that executive pay is the dominant issue fuelling shareholder discontent." November 11, 2009 Australian Financial Review

"PRODUCTIVITY OMISSION: Overall, the Productivity Commission's (PC's) executive pay report is sensible, especially since much reflects market practice." November, 2009 Company Director

"DEBATE RAGES OVER 'TWO STRIKES' SPILL MOVE: Critics of the Productivity Commission's proposed "two strikes" rule, under which shareholders could triger a board spill if 25 per cent voted against a company's remuneration report in successive years, should be ignored because investors would not abuse powers, the Australian Shareholders Association (ASA) said." November 9, 2009 Australian Financial Review

"BOARDS FORCED TO RETHINK EXEC PAY: Large sharemarket-listed companies are being forced to review their remuneration practises after almost a quarter of those in the top 200 that have already held their annual general meeting suffered protest votes of 25 per cent or more from investors." November 9, 2009 Australian Financial Review

"OPTIONS TAX 'WOULD STIFLE INNOVATION': Tech and other start-up companies that rely heavily on the use of options to reward staff have stepped up calls for the federal government to revise its controversial tax changes after Macquarie Group said the laws had effectively killed off option schemes." November 2, 2009 Australian Financial Review

"PAY RULE WOULD SPILL FIVE BOARDS: Toll-road operator Transurban, Mozambique coal exporter Riversdale Mining and engineering company Crane Group would have faced board spills if a controversial proposal that gives shareholders more power to curb executive pay had applied last week." November 2, 2009 Australian Financial Review

"DON'T EXTEND MY BRIEF, SAYS US EXECUTIVE PAY SUPREMO: The Obama administration's executive pay supremo has warned Congress against micro-managing the pay policies of corporate America despite simmering public outrage about Wall Street bonuses." October 30, 2009 Australian Financial Review

"SHOCK MOVE FOR CONTROL OF ALL GOLDEN HANDSHAKES: Every executive termination payout, or golden handshake, will have to be approved by shareholders withn three years under an onerous change quietly approved by the Senate this week." October 29, 2009 Australian Financial Review

"SHAREHOLDERS RESIST EXECUTIVE PAY PLAN: Bendigo and Adelaide Bank shareholders delivered their highest protest votes when asked to approve the remuneration of top executives, marking a tough start to the bank sector' s annual meeting season." October 27, 2009 Australian Financial Review

"CEOS SHUFFLE PAY CARDS TO COME OUT ON TOP: Chief executives in Australia's biggest listed technology companies have increased their base pay and cash bonuses, while shielding their remuneration packages from fluctuations in their companies' stock price." October 27, 2009 Australian Financial Review

"LEUPEN DRAWS SHAREHOLDER IRE: Engineering and property firm United Group has become the next large company after peers Downer EDI and Qantas Airways to suffer a big protest vote against executive pay." October 23, 2009 Australian Financial Review

"EXECUTIVE PAY TO BE CUT BY 50%: the Obama administration's pay supervisor is set to slash compensation for top executives at seven organisations that received billions of dollars in bail-out funds from the federal government." October 23, 2009 Australian Financial Review

"MAKE EXECS WAIT FOR BONUS: REPORT: The federal government has introduced tax changes to employee share schemes that conflict with recommendations by the prudential regulator and the Productivity Commission to rein in executive pay experts warned." October 22, 2009 Australian Financial Review

"INCENTIVE SCHEMES HIT HARD: Private businesses are putting succession planning and management incentive programs on hold until proposed changes to share scheme are finalised." October 20, 2009 Australian Financial Review

"EXECUTIVE PAY DEPENDS ON WORKERS' WAGES: The Productivity Commission says salary caps won't work but at the organic grocery chain Whole Foods Market, executive salaries have been capped at 19 times what the average worker earns." October 20, 2009 Australian Financial Review

"EXEC PAY TO BE HOT ISSUE AT AGM'S: The boards of Qantas Airways, United Group and Asciano will be in the firing line at annual general meetings this week as shareholders increasingly take a more hardline stance against generaous executive remuneration for companies with flagging profits." October 19, 2009 Australian Financial Review

"TWO-STRIKE TALK SIDELINES ECONOMICS OF CEO PAY: Like Goldilocks, people have found the Productivity Commissions's discussion draft on executive remuneration either too strong, too weak or just right." October 16, 2009 Australian Financial Review

"FLOATS REVEAL THE MERITS OF HAVING SKIN IN THE GAME: When it comes to private equity flotations, much of the discussion has focused on the merits or otherwise of the financial sponsor retaining a stake." October 14, 2009 Australian Financial Review

"SHAREHOLDERS ENDORSE TWO-STRIKE PROPOSAL: Investor groups have broadly backed the Productivity Commission's contentious proposed two-strike rule on executive pay, pointing out that a majority of shareholders would still have to support a motion to vote directors off a board." October 12, 2009 Australian Financial Review

"BOARDS SLAM EXECUTIVE PAY REFORM: Some of Australia's most senior chairman have slammed a key proposal in the Productivity Commission's executive pay reforms that would give a minority of shareholders the power to oust boards, claiming it could be used to destabilise companies." October 12, 2009 Australian Financial Review

"EXECUTIVE PAY RULES WON'T WORK: BRADLEY: A "two strikes" rule on executive pay would distract boards from crucial tasks and cause mischief and unnecessary cost, a senior company chairman said yesterday." October 8, 2009 Australian Financial Review

"TWO-STRIKES THREAT SUFFICES: Boards will have to be more careful about pay once they face the threat of being ousted unless they can secure investor agreement on remuneration issues says Allan Fels, co-author of the Productivity Commission's report on executive pay." October 6, 2009 Australian Financial Review

"BANK SUED BY FORMER EXECS: Eighteen former St George bankers are expected to launch legal action against the bank, claiming their redundancy payouts fell short after the bank merged with Westpac Banking Corp last year, in a dispute that could cost the bank millions of dollars." October 2, 2009 Australian Financial Review

"FOR CBA'S NORRIS, A $7.8M SHARE PLAN. Shareholders of the Commonwealth Bank of Australia will be asked to approve $7.86 million in long-term share incentive grants to chief executive officer Ralph Norris." October 2, 2009 Australian Financial Review

""'TWO STRIKES' VOTE ON EXEC PAY A RECIPE FOR CHAOS: The idea may be fine in baseball, but when it comes to corporate governance "two strikes and you're out" may not work." October 2, 2009 Australian Financial Review

"GENDER IS THE PLIGHT: Women managers are bridging the pay gap that separates them from their male peers, but the Australian Institute of Management's annual analysis of gender-based executive remuneration shows that progress is slow." October 1-7, 2009 BRW

"RE-ELECTION TRIGGER COULD EASILY BACKFIRE: While the Productivity Commission's draft proposals steer clear of heavy-handed measures such as pay caps or direct government intervention in pay setting, there's still a sting or two in the tail." October 1, 2009 Australian Financial Review

"DEFER RECKONING, PC SAYS: The large tax bills from company share packages that are imposed on executives once they resign should be deferred to encourage a longer-term interest in a business's fortunes, the Productivity Commission has urged." October 1, 2009 Australian Financial Review

"TWO STRIKES LAUDED, CONDEMNED: Company directors have grave concerns about the Productivity Commission's proposed "two strikes and you're out" rule for boards that fail to curb executive pay, warning that the proposal would cause massive unintended consequences." October 1, 2009 Australian Financial Review

"SPOT FIRES CLEAR COMMON GROUND: Only nine days ago, the idea that executive pay packets should be decided primarily by shareholders sparked one of those spot fires that enliven a quiet day in national politics." October 1, 2009 Australian Financial Review

"INVESTORS WIN EXECUTIVE PAY POWERS: Company boards will face re-election if a quarter of shareholders votes are against their pay policies at successive annual general meetings, under proposals by the Productivity Commission to curb excessive salaries." October 1, 2009 Australian Financial Review

"BETTER GOVERNANCE WILL PAY OFF: Corporate governance is one of the easiest things in the worlld to talk about and one of the hardest to achieve." October 1, 2009 Australian Financial Review

"REPORT A GOOD BASIS FOR ACTION: The Productivity Commission has taken a measured and very well informed approach to the review into executive pay." October 1, 2009 Australian Financial Review

"RESIST POPULIST PUSH ON PAY: The Productivity Commission's draft report into executive remuneration will allow the government to be seen to be taking action to deal with the perceived problem of weak boards being manipulated by greedy executives." October 1, 2009 Australian Financial Review

"IN A BIND OVER THE NON-BINDING VOTE: Shareholders have had a say on executive pay for five years." October 1, 2009 Australian Financial Review

"FATTER CHEQUES FOR GLOBAL BOSSES: The unprecedented economic boom Australia experienced over the past 17 years has been matched by a pronounced spike in executive remuneration." October 1, 2009 Australian Financial Review

"FURORE OVER WAGE RISE FOR SUPER FUND BOSS: The head of Western Australia's $9 billion superannuation fund has been handed successive pay rises of about $100,000 a year since her position was removed from the scope of the Salaries and Remuneration Tribunal due to a planned privatisation that has since been shelved." September 30, 2009 Australian Financial Review

"POWER TO THE PEOPLE WHO BUY THE SHARES: Executive remuneration advice from the Productivity Commission today is expected to fall short of recommending giving shareholders a binding vote of executive pay." September 30, 2009 Australian Financial Review

"WAL KING AMONG THE LEADERS ON EXEC PAY: Leighton Holdings chief executive Wal King is still one of Australia's highest paid bosses with a $12.5 million salary package, even after taking a 24 per cent pay cut." September 30, 2009 Australian Financial Review

"BONUS BONANZA DESPITE GLOBAL CRISIS: Only five of the top 100 company bosses missed out on a bonus last year, with significantly more bonuseas paid out, despite the onset of the global financial crisis." September 29, 2009 Australian Financial Review

"PAY DISTORTIONS CREATE FURORE: Companies should report the "actual take-home" pay of their chief executives in simplified remuneration reports to better communicate company pay policies to their shareholders, the Productivity Commission is expected to recommend in its draft report on executive pay, to be released on Wednesday." September 28, 2009 Australian Financial Review

"G20 PROMPTS DISPUTE OVER EXEC SALARIES: The federal government will use a tougher stand by global leaders towards executive compensation to bolster its own arguments for curbing excessive bonus payments and push legislation that limits payouts to risk-takers in the financial sector." September 28, 2009 Australian Financial Review

"MPS' PAY RISE 'SLAP IN THE FACE FOR WORKERS': Prime Minister Keven Rudd and Treasurer Wayne Swan keep telling us we're not out of the woods yet, but the government is confident enough about the economy to end the polititions' pay freeze." September 28, 2009 Australian Financial Review

"EXECUTIVE PAY IS AN UNNECESSARY MYSTERY: Each year most boards of directors ask their in-house human resources people to devise an executive remuneration framework, and then proceed to seek specialist independent advice on what's happening in the marketplace." September 23, 2009 Australian Financial Review

"EXECUTIVE PAY NOT THE REAL PROBLEM: World leaders at this week's Group of 20 meeting should force banks to build up their reserves substantially to avoid another global financial crisis, a leading association of regulatory expertx said on Monday." September 23, 2009 Australian Financial Review

"DIXON PARACHUTE WOULD STILL HAVE OPENED: Experts say new laws to rein in golden handshakes." are unlikely to have prevented former Qantas chairman, Geoff Dixon reaping a $10.7 million payout for five months of full-time work." September 23, 2009 Australian Financial Review

"QANTAS' DIXON FLEW OFF WITH $10.7M ...: Former Qantas Airways chief executive Geoff Dixon left the airline with a $10.7 million send-off when he resigned in March, despite being in the cockpit for less than half of the financial year." September 22, 2009 Australian Financial Review

"... BUT PEARSE WILL COLLECT $11.5M FROM BORAL: Outgoing Boral chief executive Rod Pearse's final salary package will total $11.5million, boosted by the non-compete fee he will receive on stepping down from the building materials group at the end of December." September 22, 2009 Australian Financial Review

"... AND EVANS PAID $825,000 AT PMP: Troubled printing and distribution business PMP has revealed how much it paid former chief executive Brian Evans, who left in late January and later sued the company for unpaid benefits." September 22, 2009 Australian Financial Review

"REVOLT AGAINST LOFTY EXECUTIVE PAYOUTS: Unions and shareholders have slammed multimillion dollar payouts to three chief executives of major sharemarket-listed companies, claiming they demonstrate the need for tougher restraints on executive pay." September 22, 2009 Australian Financial Review

"SHORT-TERM PAY BEATS LONG-TERM GOALS: Senior executives at some of Australia's leading listed companies have received increased short-term incentives such as cash bonus in lieu of long-term performance incenitves." September 17-23, 2009 BRW

"SENATORS TAKE SIDES ON CASH TAKEAWAYS: The government's bid to crack down on massive payouts to executives may face amendment in the Senate today as the coalition moves to make it harder for shareholders to get a say in the payment of golden handshakes." September 15, 2009 Australian Financial Review

"EXECUTIVES FACE TOUGHER PAY SCRUTINY: The Productivity Commission's review of executive pay will consider transferring more power to shareholders to rein in excessive bonuses and share payments by strengthening the non-binding vote on company remuneration reports." September 15, 2009 Australian Financial Review

"CEO PAYOUT CAPS FACE SENATE STOUSH: The federal government's push to clamp down on massive payouts for executives is set to come under scrutiny in the Senate this week amid concerns the proposed changes will inadvertently drive an increase in base salaries." September 14, 2009 Australian Financial Review

"CBA TOP EXECUTIVES GET PAY RISE: Commonwealth Bank of Australia increased the pay of most of its top executives in the 2009 financial year, including chief executive Ralph Norris who pocketed $9.2 million, amid the tail end of a financial crisis in which many off-shore lenders have been bailed out but the Big Four banks have been almost unscathed." September 10, 2009 Australian Financial Review

"SHORT-TERM FOCUS ON CEO PAY: Companies have switched from a long-term to a short-term focus in awarding incentives to their top executives, reflecting the uncertain nature of the longer term outlook during the weakened economic conditions of the past year." September 9, 2009 Australian Financial Review

"TAXMAN TARGETS SALARY SACRIFICE AND SHARE SCHEMES: Bonuses, salary sacrifice arrangements and employee share plans could be hit by a contentious Australian Taxation Office ruling designed to crack down on schemes where employees swap salary for a loan to avoid paying tax." September 8, 2009 Australian Financial Review

"BACKLASH OVER NEW REMUNERATION LAWS: A government-dominated senate committee examining laws that cap executive termination payments has recommended that parliament pass the laws, although opposition senators warned the changes "over-reached" and would create unintented consequences." September 8, 2009 Australian Financial Review

"REGULATOR GIVES IN ON EXECUTIVE PAY: The Australian Prudential Regulation Authority has bowed to pressure from the banks to water down key components of its executive pay guidlines, after an outcry that the new rules were too restrictive and impractical." September 8, 2009 Australian Financial Review

"SWAN FACES PRESSURE TO ACT ON PAY CAP: Australia is facing pressure to take stronger action to cap executive pay across the banking sector after the European Union endorsed a French plan to impose rules that could ration bonus payments according to a bank's operating income." September 4, 2009 Australian Financial Review

"BROWN JOINS CALL FOR CRACKDOWN ON EXECUTIVE BONUSES: British Prime Minister Gordon Brown said yesterday he wants to rein in excessive bonuses for bankers in the wake of the global financial crisis, a key issue at this month's G20 meeting in Pittsburgh." September 2, 2009 Australian Financial Review

"SHARE-SCHEME TAX SLUG FOR EXPATRIATES: New rules on employee share schemes will impose higher taxes on expatriates returning to work in Australia and foreign employees moving here, in another blow to Australians working overseas." August 31, 2009 Australian Financial Review

"EXPERTS DIFFER OVER EFFECT OF TERMINATION PAY CAPS: Federal laws to cap executive termination payouts would not increase base salaries, Treasury executives told a parlimentary committee yesterday." August 26, 2009 Australian Financial Review

"SHARE SCHEMES VIABLE: Weren't they taxed out of existence in the last federal budget?" August 26, 2009 Sydney Morning Herald

"LOOPHOLES EMERGE IN SHARE-PLAN RULES: Companies will be tempted to offer executives interest-free loans and pay more of their salaries in cash to avoid new tax rules for employee share schemes, remuneration and tax professionals say." August 25, 2009 Australian Financial Review

"REGULATING PAY PUTS AN END TO PERVERSE INCENTIVES: Although some financial firms are reforming how they pay their employees, governments around the world are seriously considering regulating such firms' compensation structures." August 21, 2009 Australian Financial Review

"SHARE SCHEME BILL A SHAMBLES: When someone in Treasurer Wayne Swan's office ticked the box on his budget to-do list marked "crack down on tax avoidance in employee share schemes" they clearly had no idea of the quagmire they'd be creating." August 20, 2009 Australian Financial Review

"LONG,HARD LOOK NEEDED AT EMPLOYEE SHARE SCHEMES: Last Friday the federal government released draft legislation to reform the taxation of employee share schemes.." August 20, 2009 Australian Financial Review

"PUTTING OUR SELFISH GENES TO WORK: Australia recently came close to witnessing the demise of employee share ownership plans, thanks to changes proposed by Treasury." August, 2009 the deal

"DRAFT SHARE LAWS CREATE REAL CONUNDRUM: Employers will be closely studying the "at risk" provisions of the draft legislation on employee share schemes released on Friday, as they are the main way staff will be able to avoid paying upfront tax on shares acquired under the schemes." August 17, 2009 Australian Financial Review

"CHANGES LOOM ON EMPLOYEE SHARES: The controversial overhaul of the employee share schemes, new tax secrecy laws and other long-awaited legislative changes to the tax system will be introduced in the spring session of federal parliment over the next four months." August 12, 2009 Australian Financial Review

"DOUBLE-EDGED SWORD ON EXECUTIVE REWARDS: One of the most obvious consequences flowing from the global squeeze has been the renewed focus on various issues related to executive remuneration." August 11, 2009 Australian Financial Review

"BONUSES IN PAY TSAR'S SIGHTS: On Wall Street, banks have become so eager to lure and keep top dealmakers and traders that they are reviving the practice of offering ironclad, multi-million dollar payouts - guranteed, no matter how an employee performs." August 11, 2009 Australian Financial Review

"GOLDEN HANDSHAKES LEGISLATION 'A WRECKING BALL': Long-serving employees could be hit by new government laws to curb golden handshakes to departing executives, the peak body for company secretaries said." August 11, 2009 Australian Financial Review

"DETAILS ON NEW SHARE RULES DUE: Draft laws implementing federal changes to employee share schemes are expected to be released as early as today, and will determine whether thousands of frozen employee share schemes will be reactivated." August 10, 2009 Australian Financial Review

"CEO SALARIES UNDER STRESS: Chief executives' salaries have fallen about 7 per cent in the past year as incentive payments based on corporate results have been affected by the economic downturn." August 10, 2009 Australian Financial Review

"TAX OFFICE WIDENS BLITZ ON EXECUTIVES: The Australian Taxation Office will target more wealthy people, company executives and businesses conducting cross-border transactions this tax year, amid signs the economic downturn has triggered a return of tax dodges prevalent during the last recession." August 6, 2009 Australian Financial Review

"CALL FOR RESTRAINT AT THE TOP: The federal government has come under pressure from the ALP conference to ensure executives and the wealthy pay a fairer share of tax as a result of government measures such as the Productivity Commission inquiry into the issue." July 31, 2009 Australian Financial Review

"TREASURY KNOCKS CEO PAYOUTS: Treasury estimates the federal government's planned crackdown on "golden handshakes" will require 50 to 60 percent shareholder approval of executive termination benefits if payout levels continue." July 30, 2009 Australian Financial Review

"FURTHER CONCESSIONS SOUGHT ON SHARE PLANS: Business is putting pressure on the federal government to make further concessions on the taxation of employee share schemes, warning the current position does not fully align the interests of directors and executives with shareholders." July 20, 2009 Australian Financial Review

"TOP EXECUTIVES AREN'T OVERPAID AFTER ALL: Pay increases for chief executive officers are a largely accurate reflection of improved executive performance and growing risk." July 16, 2009 Australian Financial Review

"BENDIGO BANKING ON VOLUNTARY PAY CUT: Bendigo and Adelaide Bank has put a new twist on the trend of cutting costs, by having employees take 10 days' unpaid leave and dangling a possible future salary top-up if the bank comes in ahead of budget." July 16, 2009 Australian Financial Review

"FURURE IGNORED BY RICH EXECS: Excessive executive pay combined with a short-term focus was a powerful barrier to improving corporate governance or dealing with risks such as climate change, former US vice-president Al Gore said." July 16, 2009 Australian Financial Review

"PAY CHECK: There's nothing like a financial crisis to focus the mind on the excesses of executive pay, particularily for those in the rarefied ranks of financial institutions." July 9, 2009 AFRBOSS

"FREEZE TOP EXECS' PAY: UNIONS: Unions have called on company chiefs to share the pain of a total wage freeze for the country's lowest paid workers, claiming that business leaders need to lead by example." July 9, 2009 Australian Financial Review

"OPTIONS DOUBTS KEEP START-UPS PRESSING FOR FIX: Start-up companies said yesterday the new tax rules disadvantaged option schemes they used and while special tax breaks were being considered for emerging companies, any concessions would not flow through until next year." July 3, 2009 Australian Financial Review

"ADJUSTMENTS MAY REVIVE EQUITY SCHEMES: Most listed companies are considering reviving employee share plans after the federal government unwound controversial budget changes, although some tax experts said the final position might still leave some employees out of pocket." July 3, 2009 Australian Financial Review

"EMPLOYEES WIN ON SHARE SCHEMES: The federal government has bowed to sustained pressure over budget measures to employee share schemes, proposed changes that restore tax concessions for the vast majority of company ownership plans." July 2, 2009 Australian Financial Review

"CHAOS AND CONFUSION ENDS: The budget-night change to the tax arrangements of employee share schemes has caused unnecessary confusion for workers and business owners, the opposition says." July 2, 2009 Australian Financial Review

"SAVINGS WITHOUT ALL THE FUSS: The final employee share scheme framework announced yesterday is not very different from the scheme that was in place before the government changed it in the budget in May." July 2, 2009 Australian Financial Review

"ADVISERS BACK THE CHANGES: Remuneration and tax advisers have backed the government's changes to employee share schemes but said many plans would need to be redesigned to comply with the details of the as yet to be seen final legislation." July 2, 2009 Australian Financial Review

"EMPLOYEE SHARE PLANS IN LIMBO: New tax laws on employee share schemes take effect today, although the federal government has yet to reveal their detail, leaving thousands on company schemes in limbo at the start of the new financial year." July 1, 2009 Australian Financial Review

"ANZ'S CEO JOB ROW HEADS FOR THE COURTS: Steve Targett and Australia and New Zealand Banking Group are moving towards a final showdown to test allegations that the former executive was promised the role of chief executive officer." June 30, 2009 Australian Financial Review

"UNITED CHIEF TO STAY ON WITH LOWER PAY: United Group has extended chief executive Richard Leupen's contract until 2014, longer than expected, after strong support from the board despite a tough year, although he will take pay cut." June 25, 2009 Australian Financial Review

"HARDIE TO RESTRUCTURE EXECUTIVE PAYMENTS: James Hardie is aiming to revamp its remuneration for senior management by proposing to more closely align long-term incentives with performance benchmarks." June 24, 2009 Australian Financial Review

"TELSTRA FREEZES EXECUTIVE PAY: Telstra's new chief executive, David Thodey has told the company's 200 top executives their fixed pay will be frozen for the financial year begining next Wednesday and all other eligible employees will receive pay increases of no more than 2 per cent on average." June 23, 2009 Australian Financial Review

"LARGE US EXECUTIVE SALES MAKE INVESTORS NERVOUS: Executives at US companies are taking advantage of the biggest stockmarket rally in 71 years to sell their shares at the fastest pace since credit markets started to size up two years ago." June 23, 2009 Australian Financial Review

"BUSINESS LEADERS LAY DOWN THE LAW ON RED TAPE BURDEN: Business leaders have warned the federal government against the dangers of excessive and illconceived regulation, saying that an extraordinary increase in regulatory red tape has the potential to paralyse company boards and threaten economic recovery." June 23, 2009 Australian Financial Review

"WOMEN GAIN POWER, NOT PAY: Female executive managers continue to face a significant gender pay gap, and earn less than half of males in the equivalent positions on chief executive officer and top finance roles." June 18, 2009 Australian Financial Review

"BIG MAC WARY OF PAY CHANGES: The employee-share scheme imbroglio has forced Macquarie Group to make another round of changes to its remuneration structure." June 18, 2009 Australian Financial Review

"SHARE SCHEME TAX CHANGES SHOULD BE SCRAPPED: There is a simple and practicle solution to the perceived integrity problem identified by the government on employee share schemes; introduce better compliance throught new reporting obligations on employers and leave the current deferral rules intact." June 17, 2009 Australian Financial Review

"TAX CHANGES WILL DRIVE CASH PAY BIAS: The federal government's tax changes to employee sahre schemes would stymie moves to better align long-term executive incentives with shareholders, Productivity Commission heard yesterday." June 17, 2009 Australian Financial Review

"FROZEN SCHEMES WILL STAY ON ICE: Miners have warned the federal government that its plan to impose an income threshold on employee share schemes means that many companies will refuse to re-activate their frozen schemes." June 16, 2009 Australian Financial Review

"START-UPS STRESS NEED FOR SHARE PLANS: Abolishing employee share schemes would be the most retrograde move for Australian innovation in 15 years, a leading venture capitalist has warned." June 16, 2009 Australian Financial Review

"EXECUTIVES TARGETED IN ATO BLITZ: TheAustralian Taxation Office will target executives and directors this tax time after recent audits and data-matching uncovered $40 million in undeclared income from employee share schemes and bonuses last year." June 12, 2009 Australian Financial Review

"MORE WORK URGED ON EMPLOYEE SHARES DRAFT: Business wants further changes to the federal governments's employee share proposals to reduce complexity and avoid problems with overseas workers." June 12, 2009 Australian Financial Review

"SHAREHOLDERS GET SAY ON EXECUTIVE SALARIES: The Obama administration has backed away from legislating caps on executive salaries but has decided to give shareholders a "say on pay"." June 12, 2009 Australian Financial Review

"CALL TO SAVE SHARE SCHEMES: Listed companies are not the only ones that stand to lose from the government's decision to make tax pre-payable on employee share schemes." June 11-17, 2009 BRW

"UNCERTAINTY KEEPS SHARE PLANS ON ICE: Most major listed companies have not reactivated their employee share schemes despite government efforts to undo the impasse caused by its bungled budget announcement." June 11, 2009 Australian Financial Review

"SHARE SCHEMES REOPEN, BUT TAX CHANGES DECRIED: Chief executives of Australia's listed technology companies are re-opening employee share schemes but remain uncovinced by the federal government's recent concessions regarding changes to tax laws." June 11, 2009 Australian Financial Review

"MORE DOUBTS ON SHARE SCHEMES: Big business has urged the federal government to consider further changes to its controversial employee share scheme reforms, warning that they could lead to companies abandoning their schemes." June 10, 2009 Australian Financial Review

"SHAREHOLDER CALL ON CEO PAY ANSWERED: Telstra has bowed to shareholder pressure by agreeing to pay its new chief executive, Davis Thodey, considerably less than his controversial predecessor, Sol Trujillo." June 10, 2009 Australian Financial Review

"BOARDS MUST BE MORE ACCOUNTABLE FOR CEO AND SENIOR MANAGEMENT REMUNERATION PACKAGES: Remuneration and bonus packages of CEO's and senior management have been in the spotlight across the globe in recent times." June, 2009 Keeping Good Companies

"SWAN'S QUICK FIX ON SHARE SCHEMES COMES UP SHORT: Fortescue Metals chief Andrew Forrest has said Treasurer Wayne Swan would not be judged on his budget "mistake" over employee share schemes but by the swifness and way in which he responded." June 9, 2009 Australian Financial Review

"OBAMA MOVES TO PUT CONSTRAINTS ON EXECUTIVE PAY: The Obama administration plans to require banks and corporations that have received two rounds of federal bailouts to submit any major executive pay changes for approval by a new federal policeman who will monitor pay, according to two government officials." June 9, 2009 Australian Financial Review

"RUSH TO REGULATE EXECUTIVE REMUNERATION IS UNWISE: While the unease about executive pay is palpable, understanding whether or how government could assuage it without causing even bigger problems in not straightforward." June 5, 2009 Australian Financial Review

"SHARE SCHEME FIX TO RAISE THRESHOLD: The federal government will canvass raising the tax-free threshold on employee share schemes to more than $100,000 in draft law to be released today bu

OTA

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