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Issue No. 289 | 11 November 2005 |
The Great Repression
Interview: Public Defender Legal: Craig's Story Unions: Wrong Way, Go Back Industrial: WhatChoice? Politics: Queue Jumping History: Iron Heel Economics: Waging War International: Under Pressure Poetry: Billy Negotiates An AWA Review: A Pertinent Proposition
Nobody Expects the Construction Inquisition PacNat Bids to Railroad Future Miners Don�t Dig Safety Levy
The Soapbox The Locker Room Culture Parliament
Convict Costello We're Just Serfin' Take Warning Smells Familiar Howard's Gas Andrews' Operandi To the Shredder Stop Violence
Labor Council of NSW |
News Directile Dysfunction
According to executive remuneration specialists, RPC, pay for directors in miscellaneous industrial and transport industries increased, between 2003 and 2004, by 85 per cent, while those in alcohol and tobacco made do with 65 per cent hikes. On average, pay for non-executive directors, over the same period, increased by 22 per cent, while chief executives jumped from 1.35 million per annum, to 1.7 million dollars, according to The Australian Financial Review. Don Argus, Chairman of BHP Billiton and Brambles, defended higher fees for directors by saying that directors at BHP Billiton, "have to attend seven meetings a year here".
"If they're from the US, they have potentially seven long trips. They are not going to do that unless it's worthwhile," he said. As news of the increases was released, Michael Chaney, who became a director on the board of Australia's largest bank the National Australian Bank, in December last year, and who is also president of the Business Council of Australia, told The Australian Financial Review that public uproar over the Federal Government's Work Choices legislation would subside. "I think, in a year's time, people in the workforce will look back and say what was all the fuss about because life continued as we knew it," he said. The Business Council of Australia, made up of Australia's highest-paid chief executives, is an outspoken backer of the government's workplace agenda.
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