Post by Chips on May 22, 2008 9:42:38 GMT 9.5
Macquarie salaries: above board but under scrutiny
Kevin Rudd's feeble call for restraint over the obscene remuneration of some senior executives echoes many previous comments from both sides of the political divide ("$80m: it's off the planet", May 21). Nothing changes; the snouts remain firmly in the trough.
We know that the remuneration of these people is structured to take advantage of highly inequitable tax treatments. My challenge to Mr Rudd is: be different from the rest and do something about a tax system that encourages such practices.
Greg Loder Springwood
I have never owned shares in Macquarie Bank, and never will. I dislike many of its trading ethics.
Nevertheless, Allan Moss has built up a huge empire with hard work and determination. He may be paid many times more than a worker, or teacher, or even the prime minister, but I'm sure he's paid taxes - and masses of them - over more than 30 years.
Macquarie Bank pays extraordinary salaries and packages. It pays taxes and it employs people. I understand these practices are still legal in this country.
Neil Feller Potts Point
When the share price doubles, it is due to the phenomenal brilliance of executives "competing in the global marketplace" and they are rewarded with pay rises out of proportion to the share price increase. When the share price halves, it is due to "global events over which we have no control" and there is no effect on remuneration. I am a Macquarie Bank shareholder with no voting power, it seems.
Milton Ingram Greenwich
Macquarie's share price plummeted due to its exposure to the US subprime crisis, yet it makes a profit and the chief executive is rewarded while shareholders and investors miss out. At the same time, the commercial banks are less exposed and the customers have to pay higher interest rates.
Philip Cooney Wentworth Falls
Sydney Airport's website says it has a reputation around the world for exceptionally high levels of passenger service and outstanding facilities for airlines. After the heavy fog that closed the airport last week, surely one has to ask why it does not have a suitable instrument landing system.
Auckland International Airport has just spent $4 million on such a system, which allows planes fitted with the appropriate technology to land in virtually any fog conditions. Does Sydney not have one because its owners are too busy on programs that make a maximum amount of money out of the users of the airport, and only pay lip service to real customer service?
Michael Calf Willoughby
So that's why parking is so expensive at Sydney Airport.
John Truman Chatswood
Kevin Rudd's feeble call for restraint over the obscene remuneration of some senior executives echoes many previous comments from both sides of the political divide ("$80m: it's off the planet", May 21). Nothing changes; the snouts remain firmly in the trough.
We know that the remuneration of these people is structured to take advantage of highly inequitable tax treatments. My challenge to Mr Rudd is: be different from the rest and do something about a tax system that encourages such practices.
Greg Loder Springwood
I have never owned shares in Macquarie Bank, and never will. I dislike many of its trading ethics.
Nevertheless, Allan Moss has built up a huge empire with hard work and determination. He may be paid many times more than a worker, or teacher, or even the prime minister, but I'm sure he's paid taxes - and masses of them - over more than 30 years.
Macquarie Bank pays extraordinary salaries and packages. It pays taxes and it employs people. I understand these practices are still legal in this country.
Neil Feller Potts Point
When the share price doubles, it is due to the phenomenal brilliance of executives "competing in the global marketplace" and they are rewarded with pay rises out of proportion to the share price increase. When the share price halves, it is due to "global events over which we have no control" and there is no effect on remuneration. I am a Macquarie Bank shareholder with no voting power, it seems.
Milton Ingram Greenwich
Macquarie's share price plummeted due to its exposure to the US subprime crisis, yet it makes a profit and the chief executive is rewarded while shareholders and investors miss out. At the same time, the commercial banks are less exposed and the customers have to pay higher interest rates.
Philip Cooney Wentworth Falls
Sydney Airport's website says it has a reputation around the world for exceptionally high levels of passenger service and outstanding facilities for airlines. After the heavy fog that closed the airport last week, surely one has to ask why it does not have a suitable instrument landing system.
Auckland International Airport has just spent $4 million on such a system, which allows planes fitted with the appropriate technology to land in virtually any fog conditions. Does Sydney not have one because its owners are too busy on programs that make a maximum amount of money out of the users of the airport, and only pay lip service to real customer service?
Michael Calf Willoughby
So that's why parking is so expensive at Sydney Airport.
John Truman Chatswood