Re: 'Bout freakin time.

Glenjamin · by Glenjamin on Mon Mar 02, 2009 10:54 am

Nice to see Andy bringing it back to topic

Andrew.C · by Andrew.C on Fri Mar 20, 2009 8:44 pm

Kinda on topic:

http://www.smh.com.au/news/executive-style/management/microsofts-bill-gates-richest/2009/03/12/1236447364953.html?sssdmh=dm16.367341

Article wrote:Microsoft founder Bill Gates is the world's richest man again, overtaking investor Warren Buffett, as the global financial meltdown wiped out $US2 trillion from the net worth of the world's billionaires, Forbes Magazine said.

But this is even more on topic:

http://www.news.com.au/dailytelegraph/story/0,22049,25208040-5001021,00.html

Article wrote:Severance packages for high-flying CEOs could be limited to one year's base salary, with stockholder approval needed for bigger payouts.

[...]

Under current law, shareholders only have a say when a company director's payout exceeds seven times total annual remuneration.

The Government has rejected proposals to give shareholders power over the salary of incoming executives because it could make it harder to recruit fresh talent. Inflated farewell payments are another matter.

So, it doesn't look like they're doing that limiting pay thing like in the US, but at least this is now a much discussed topic, and hopefully someones will do something about it.