The unfortunate fact appears to be that top management of many companies are being rewarded on a YEARLY basis by way of absurd "performance bonuses", often amounting to the LUDICROUS amounts becoming common place.
Being of the magnitude they are, CEO's and their immediate underdogs, have now found that it IS possible to "
GET RICH QUICK" - but at the medium to longer term risk of the health and longevity of the company and its "ground floor" employees.
The company is screwed and squeezed for every drop it can return in the form of profit, hence returning unbelievable rewards (in the form of bonuses, saleable stock options, etc) to the upper management, and at the same time pleasing the shareholders and making them feel secure in their investment.
Once the company has been squeezed, the "ground floor" employees are on the receiving end, as their wages are sliced (or chopped altogether) to allow more $$$'s to be thrown into the "profit-sharing, bonus-paying" bin.
"
Qantas is negotiating with unions on a new wages agreement, and Ms Jackson said a wage increase of less than 5 per cent was reasonable.
Qantas is understood to have offered a 3 per cent wage increase.
At bonuses (in addition to enormous salaries) running into the millions (or tens of millions)
PER YEAR, a blind man can see that 2 or 3 years on this sort of money means one can retire to a lifetime of extreme wealth.
And after that, who cares what happens to the company!!
The bonuses of upper level management NEED to be based on LONG TERM company performance to insure against short term abuse and MIS-management by CEO's, etc, solely for THEIR personal, IMMEDIATE GRATIFICATION.
Bonuses paid, for example, ONLY every
10 - 12 years.
"
Qantas chairman Margaret Jackson (the woman who said Qantas should worry less about its passengers and staff and more about its shareholders...) said the airline would consider new partnerships with carriers in the United States, Asia and Europe as it moved to expand operations."
And WHY would Ms Jackson and Co be considering new partnerships with carriers in the US?
I guess she answered that for all of us, with the following:
"
CEOs or executives in the US received hundreds of millions of dollars worth of options, whereas in Australia it was tens of millions of dollars. "The magnitude is significantly different," she said."
OINK "
