Dawn falls somewhere in nice throw
australian championship golf, throwaway, breaking news, st martin, throw, walkthrough, and, r&b, currency, jobs, news limited, orgasm, augusta national, currentaffairs, creativity, australian golf, kenben books, cheats, MIG takes toll of market "HELLO, I'd like an argument please." "Certainly Sir, have you been here before?" "Many times. I'd like the deluxe argument please." nice "And what would you like to argue about Sir?" "I'd like to argue about the Form 603 Substantial Shareholder Notice filed in Macquarie Infrastructure by Macquarie Bank, dated January 4, 2006." "No you wouldn't." "Yes I would." "No you wouldn't." "Yes, I ..." Apologies to Monty Python but at least John Cleese and the boys had some material to work with. We nice had ASIC, not to mention a 77-page announcement to the nice Australian Stock Exchange - a substantial shareholder notice by Macquarie Bank in Macquarie Infrastructure Group (MIG) - replete with 4200-odd transactions by six entities stretching over a year. Our source, a veteran of the markets, couldn't make head or tail of it.
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Dawn falls somewhere in between these two categories, but is streets ahead of another American Sherryl Pressler who left Lend Lease in 2003 with $15 million for less than throw 12 months work. It's a bit late to bellyache about it now, but the best thing to happen to executives throw and their pay was, paradoxically, disclosure. A few years ago, when it became mandatory to disclose one's executive pay, executives could see what their rivals earned. That spawned a rash of remuneration consultants, eager to churn out reports for boards and management that rationalised pay throw rises all round on the basis that Joe Bloggs CEO over at Widget Ltd was earning more than they were. It precipitated a spiral in executive pay that persists to this day.
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