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Thread: Airline CEO's taking pay cuts , Air NZ boss first.

  1. 13th March 2020, 10:16 AM #1
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    Airline CEO's taking pay cuts , Air NZ boss first.

    My suspicious mind thinks they wouldn't be doing this if 1. they couldn't afford it 2 . there wasn't some bad news for employees to come.

    Harassed airline CEOs start MeToo pay cut movement
    I’m pretty sure the dinosaurs died out when they stopped gathering food and started having meetings to discuss gathering food

    A bookshop is one of the only pieces of evidence we have that people are still thinking
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  2. 13th March 2020, 10:24 AM #2
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    Its really beyond me how those CEO's are worth their salaries.

    Its just a joke.

    I remember a few years Telstra wanted to get rid of some CEO,and they payed him $14M to go away

    Many wouldn't earn anywhere near that sort of money in a lifetime.And that would be working a lot harder than some of those CEO's.
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  3. 13th March 2020, 11:00 AM #3
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    Quote Originally Posted by scarry View Post
    Its really beyond me how those CEO's are worth their salaries.

    Its just a joke.

    I remember a few years Telstra wanted to get rid of some CEO,and they payed him $14M to go away

    Many wouldn't earn anywhere near that sort of money in a lifetime.And that would be working a lot harder than some of those CEO's.
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  4. 13th March 2020, 12:07 PM #4
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    Quote Originally Posted by scarry View Post
    Its really beyond me how those CEO's are worth their salaries.

    Its just a joke.
    because their managing a multi billion dollar company. its not like running the local fish n chip shop.

    they are worth that much due to supply and demand and proven experience.

    bad CEO's dont last.
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  5. 13th March 2020, 12:33 PM #5
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    Quote Originally Posted by Eevo View Post
    because their managing a multi billion dollar company. its not like running the local fish n chip shop.

    they are worth that much due to supply and demand and proven experience.

    bad CEO's dont last.
    Their time is also managed to the second, they're on the job pretty much 24/7. Admittedly some of the payments are outrageous especially performance payments for non-performance.
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  6. 15th March 2020, 10:41 AM #6
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    Quote Originally Posted by Geedublya View Post
    Their time is also managed to the second, they're on the job pretty much 24/7. Admittedly some of the payments are outrageous especially performance payments for non-performance.
    There are many other jobs that actually are on call 24/7 who get less than ordinary pay.
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  7. 15th March 2020, 04:10 PM #7
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    Quote Originally Posted by Fourgearsticks View Post
    There are many other jobs that actually are on call 24/7 who get less than ordinary pay.
    That'd be Scary and me!

    And Eevo, saying crap CEO's don't last is ridiculous.
    It's an old boys club, we've all seen the bonuses and payouts of (generally) blokes that have damned near killed large companies.
    And they look after their own, endong up on the board of another company, often in an executive position.
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  8. 15th March 2020, 05:56 PM #8
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    Justifying the "need" to pay these people that much seems to me to be a bit hard, given the the amount paid to their equivalents a generation ago, relative to average pay at the time, were far lower. Given some of the obvious incompetence shown by some of them (e.g. banks as revealed by the Royal Commission), it seems a bit hard to say they are that much better!
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  9. 15th March 2020, 07:39 PM #9
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    A number of years ago I worked for EDS, founded by Ross Perot (Texan billionaire and two time presidential candidate) in the early 60’s.

    The CEO and chairman at the time (Dick Brown) was voted in the top ten worst CEO’s in the USA.

    The stock price had collapse under his ‘guidance’ from well over USD$100 to junk bonds..

    He got fired but still walked away with a rumored USD$30m+. I don’t recall how much is retainer was but significantly more than his severance.

    EDS fires Dick Brown • The Register
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  10. 15th March 2020, 08:20 PM #10
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    Getting back to the theme of the thread, didn't Alan Joyce of Qantas say he was forgoing his entire salary early last week?

    The airlines are going to be in real trouble in the next few months. Probably at least a quarter of them will fail and either merge with another airline, get a government handout, or just disappear. This will leave a lot of near new airliners looking for a buyer. In this circumstance, who, exactly, is likely to take delivery of Boeing's some 400 747MAX airliners waiting for a software update that can be approved? And without customers paying for delivery of them, how long before Boeing's bankers seize them and sell them for scrap, together with anything else Boeing owns that is saleable? And then forces bankruptcy on what is left.
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