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ANSETT& TOOMEY

Question:

Lacey, James said..  LJ It can be a lot more than 5 figures.  LJ In any case, who’s the mug? The hated execs that get fat bonuses for  LJ doing fuck all (according to you) or people like you that actually work I didn’t say that they did fuck all, just that they got paid a bonus for TRYING, rather than for achieving, and failing rather badly, I thought. Where I work, we get a bonus too, but it’s size depends on how we meet various goals and targets. Last year we didn’t get one at all due to a rather significant plant failure. Take a "t" out of austarnett for an email reply http://www.gips.com.au/~mtaylor

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So, you’d have to excuse me, and probably most others, for being skeptical when you see execs getting 5 figure bonuses for doing nothing, and in fact, failing their shareholders in the most spectacular manner.

It can be a lot more than 5 figures. In any case, who’s the mug? The hated execs that get fat bonuses for doing fuck all (according to you) or people like you that actually work for a lot less? If I can get 30% on my gross salary for sitting on my arse telling people what to do, I’ll take it thanks. In any case, these days CEOs and senior execs will tell that you the number one priority is the shareholders (as they are typically bonused on share performance) so these are the last people they will let down. Employees usually enjoy that privilege. – Hide quoted text — Show quoted text – Take a "t" out of austarnett for an email reply http://www.gips.com.au/~mtaylor

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Air NZ acting chairman Jim Farmer, QC, last week acknowledged the bonuses were for the "quite extraordinary effort made by senior management to try and deal with the company’s problems and to get accepted Is that a typo?   Perhaps he meant  "conceal" rather than "deal with"?

The old licensed liar is a QC after all . Guess Air new Zealnd may eventually "hit the silk"

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– Hide quoted text — Show quoted text – Phil C said..  PC Air NZ acting chairman Jim Farmer, QC, last week acknowledged the  PC bonuses were for the "quite extraordinary effort made by senior  PC management to try and deal with the company’s problems and to get  PC accepted … the recapitalisation program that was needed", not in  PC recognition of the company’s poor financial performance. It’s amazing how they can put a spin on it, to make it a justifiable payment. Where I work we get a bonus. It’s based on company performance and our own performance, and is paid as a varying percentage of our base wage. If the company does poorly, because of how we work or whatever, points are taken off. Last year, when we fried a generator, the bonus was zero. This year, it’s looking good, but something could crop up and zip, nothing. When I did a course at the Australian Institute of Management a couple of years ago, the lecturer termed "trying" as a noisy way of doing nothing. Obviously, at the very top, "trying" means something entirely different. At least for Air NZ, perhaps. So, you’d have to excuse me, and probably most others, for being skeptical when you see execs getting 5 figure bonuses for doing nothing, and in fact, failing their shareholders in the most spectacular manner.

Yes I think even our Kiwi cousins   find such behaviour  disgraceful even by their fiduciary standards But thinking back on History  they had a dry run with Newman’s and Mount Cook a few years back

Response:

Air NZ acting chairman Jim Farmer, QC, last week acknowledged the bonuses were for the "quite extraordinary effort made by senior management to try and deal with the company’s problems and to get accepted

Is that a typo?   Perhaps he meant  "conceal" rather than "deal with"?

Response:

At a press conference yesterday, Mr Toomey said Ansett executives also got the bonuses. "They form part of the salary package of people. Today’s salary packages have a large component of them at risk, and targets are set," he said. "The targets that were set for most of these executives were achieved."

Obviously the targets were so low, a Moron was likely to be able to achieve them, and making money, or funding entitlement obligations obviously were not among the targets. Where do I apply for a job with these folks?

Response:

Phil C said..  PC Air NZ acting chairman Jim Farmer, QC, last week acknowledged the  PC bonuses were for the "quite extraordinary effort made by senior  PC management to try and deal with the company’s problems and to get  PC accepted … the recapitalisation program that was needed", not in  PC recognition of the company’s poor financial performance. It’s amazing how they can put a spin on it, to make it a justifiable payment. Where I work we get a bonus. It’s based on company performance and our own performance, and is paid as a varying percentage of our base wage. If the company does poorly, because of how we work or whatever, points are taken off. Last year, when we fried a generator, the bonus was zero. This year, it’s looking good, but something could crop up and zip, nothing. When I did a course at the Australian Institute of Management a couple of years ago, the lecturer termed "trying" as a noisy way of doing nothing. Obviously, at the very top, "trying" means something entirely different. At least for Air NZ, perhaps. So, you’d have to excuse me, and probably most others, for being skeptical when you see execs getting 5 figure bonuses for doing nothing, and in fact, failing their shareholders in the most spectacular manner. Take a "t" out of austarnett for an email reply http://www.gips.com.au/~mtaylor

Response:

Dont know about you lot – But i really feel like kicking this fat slug in the cods Are these guys on the same planet or what ?? I reckon this behaviour makes em UNemployable  even as toilet cleaners No remorse is evident and a lot less situational awarness  but BIG measure of arrogance Air chief justifies bonuses Monday 17 September 2001 Air New Zealand and Ansett Australia senior executives got bonuses because they met most of their targets, Air NZ chief executive Gary Toomey said yesterday. New Zealand Prime Minister Helen Clark said it was "outrageous" that the executives received bonuses and they should pay them back. Her government last week announced a rescue package for Air NZ including a $NZ550 million ($A411 million) taxpayer-funded loan, following the national carrier’s announcement of a record net after-tax loss of $NZ1.43 billion for the year ending June 30. It was the biggest loss in New Zealand corporate history, weighed down by a $NZ1.32 billion write-down of its subsidiary, Ansett. Ansett was on Wednesday put in the hands of voluntary administrators. On Friday, it ceased operations, leaving 16,000 workers out of jobs. Ansett workers were angered by the news that Air NZ senior executives received bonuses in July. It was believed the bonuses amounted to as much as a third of the executives’ salaries. Mr Toomey was believed to earn more than $1 million. At a press conference yesterday, Mr Toomey said Ansett executives also got the bonuses. "They form part of the salary package of people. Today’s salary packages have a large component of them at risk, and targets are set," he said. "The targets that were set for most of these executives were achieved." Ms Clark said the airline would be viewed more favorably by the New Zealand and Australian public if its executives paid back the bonuses. Air NZ acting chairman Jim Farmer, QC, last week acknowledged the bonuses were for the "quite extraordinary effort made by senior management to try and deal with the company’s problems and to get accepted … the recapitalisation program that was needed", not in recognition of the company’s poor financial performance. – NZPA

Response:

Dont know about you lot – But i really feel like kicking this fat slug in the cods

So do it. And make sure you get someone to get it on tape too |-) Are these guys on the same planet or what ??

What. I reckon this behaviour makes em UNemployable even as toilet cleaners

Yep. He’d never fit into the dunnys except for the disabled one. No remorse is evident and a lot less situational awarness  but BIG measure of arrogance

Not terribly surprising that it desperately trys to bullshit its way out of its predicament now. Thats all it has ever been able to do anyway, bullshit and lie. Air chief justifies bonuses

Wota fucking wanker. Monday 17 September 2001 Air New Zealand and Ansett Australia senior executives got bonuses because they met most of their targets, Air NZ chief executive Gary Toomey said yesterday.

Pity about ‘targets’ that didnt include an overriding criterion that if the operation goes bust, they dont get not bonus, stupid. New Zealand Prime Minister Helen Clark said it was "outrageous" that the executives received bonuses and they should pay them back.

She’s right. How amazing. Her government last week announced a rescue package for Air NZ including a $NZ550 million ($A411 million) taxpayer-funded loan, following the national carrier’s announcement of a record net after-tax loss of $NZ1.43 billion for the year ending June 30.

And she should be saying that if they get the bonuses, they wont be getting that. It was the biggest loss in New Zealand corporate history, weighed down by a $NZ1.32 billion write-down of its subsidiary, Ansett.

Some ‘target’ Ansett was on Wednesday put in the hands of voluntary administrators. On Friday, it ceased operations, leaving 16,000 workers out of jobs. Ansett workers were angered by the news that Air NZ senior executives received bonuses in July. It was believed the bonuses amounted to as much as a third of the executives’ salaries. Mr Toomey was believed to earn more than $1 million.

Fark. No wonder its bleating about the possibility of it being whipped back. At a press conference yesterday, Mr Toomey said Ansett executives also got the bonuses. "They form part of the salary package of people. Today’s salary packages have a large component of them at risk, and targets are set," he said.

And obviously stupids set those targets, stupid. And the buck stops with YOU on that. "The targets that were set for most of these executives were achieved."

Pity about what that says about those ‘targets’, wanker. Ms Clark said the airline would be viewed more favorably by the New Zealand and Australian public if its executives paid back the bonuses.

They should be told that if they aint paid back, they get no rescue. Air NZ acting chairman Jim Farmer, QC, last week acknowledged the bonuses were for the "quite extraordinary effort made by senior management to try and deal with the company’s problems and to get accepted … the recapitalisation program that was needed", not in recognition of the  company’s poor financial performance.

Wota fucking wanker. Even a stupid sheepshagger should be able to wank better than that.

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