Pacific Brands sackings/executive pay increases

[cashcow]

Interesting to note in many of the links already posted on this story that the unions (in particular the TWU) is planning some kind of boycott/picket. Given that their constituents would be customers of some of the high profile brands (King Gee/Yakka, et al), I wonder if the executive at PB took this kind of backlash into account.

No good offshoring if the "benefits" are eroded by customer boycott.

 

[xyzedarteerf]

Maybe a solution is to make shareholder voting on renumeration binding by law. That would certainly scatter a few cats amongst boardrooms, eh?

not that easy i have voted a couple of times in these shareholder meetings , and these selfish directors usually use there majority share holding to vote themselves consecutive pay rises and bonuses anyway.

 

[Mofra]

No good offshoring if the "benefits" are eroded by customer boycott.

You would hope that any exec worth their salt woudl have priced a backlash into their projections; having said that, does anyone know how Blundstone are fairing now they too are a "importer" with no manufacturing presence in Australia?

 

[Aussiejeff]

not that easy i have voted a couple of times in these shareholder meetings , and these selfish directors usually use there majority share holding to vote themselves consecutive pay rises and bonuses anyway.

Which is why I suggested regulations should be introduced that prevent director / ceo share holdings from being counted at meetings where "ordinary" shareholders are being asked to vote on options, preference shares or remuneration for said directors / ceo's.

You know it makes sense.

But can the gummint see it?

There could be a cutoff point for size of company I suppose (since in some very small companies the ceo, directors and board members make up most of the shareholders!). I'm totally guessing here, but, say, companies with more than 10 employees and/or more than 10 shareholders should be restricted in that way?

 

[GumbyLearner]

Which is why I suggested regulations should be introduced that prevent director / ceo share holdings from being counted at meetings where "ordinary" shareholders are being asked to vote on options, preference shares or remuneration for said directors / ceo's.

You know it makes sense.

But can the gummint see it?

There could be a cutoff point for size of company I suppose (since in some very small companies the ceo, directors and board members make up most of the shareholders!). I'm totally guessing here, but, say, companies with more than 10 employees and/or more than 10 shareholders should be restricted in that way?

The gummint probably can't see it.

Here is an interesting press release from the Greens today.

http://www.theaustralian.news.com.au/story/0,25197,25118535-12377,00.html

Pay umpire should rein in CEOs: Greens

THE Rudd government's new industrial umpire should be given the power to curb excessive executive salaries, the Greens say.

Greens Leader Bob Brown says they will look to amend the Fair Work bill currently before parliament in an effort to rein in fat cats' pay.

"Under the Greens' proposal, the Fair Work Australia commission would review executive salaries before ordinary workers are made redundant,'' Senator Brown said.

"The commission would require a company to explain why high executive salaries should not be lopped in preference to jobs.''

 

[Wysiwyg]

Pay umpire should rein in CEOs: Greens

THE Rudd government's new industrial umpire should be given the power to curb excessive executive salaries, the Greens say.

Greens Leader Bob Brown says they will look to amend the Fair Work bill currently before parliament in an effort to rein in fat cats' pay.

"Under the Greens' proposal, the Fair Work Australia commission would review executive salaries before ordinary workers are made redundant,'' Senator Brown said.

"The commission would require a company to explain why high executive salaries should not be lopped in preference to jobs.''

That`s a nice call by Mr. Brown.Somewhere in history an imbalance occured with pays for work.The people on the floor doing the physical get the least and the figureheads give themselves shares, options, salary increases and wealth the people on the floor will never see in their lifetime.
Poor company sales and production always gets felt by the lowly paid worker as each level of command abdicates responsibility to the one below.
It`s a system of thinking that needs to be reworked so we have more respect at all levels.

At the moment the quote "ordinary worker" (an insult in itself) is forced to knife the other "ordinary worker" in the back to keep their job if someone has to go.Dirty tricks but that`s what they do to keep their job.

 

[Wysiwyg]

Another thing. I know of a company that pumped a wildcat oil/gas well so big that it shot the share price through the roof 500 to 600%.A director unloaded a parcel of shares at near the peak and then ... you guessed it ... the well was a fizzer, the hydrocarbon "shows" were less than first thought and production tests proved a small flow rate.
The terminolgy they used was extremely sensationalised but because everyone trusts company announcements to be factual, it was believed to be true.
Now that is very suspect.

 

[GumbyLearner]

Poor company sales and production always gets felt by the lowly paid worker as each level of command abdicates responsibility to the one below.
It`s a system of thinking that needs to be reworked so we have more respect at all levels.

At the moment the quote "ordinary worker" (an insult in itself) is forced to knife the other "ordinary worker" in the back to keep their job if someone has to go.Dirty tricks but that`s what they do to keep their job.

All great points wysiwyg.

One can only hope that the way the banks and big business have been sticking it to the little guy for so long will eventually elevate the consciousness of the average joe blow during this downturn. If you put in the effort you should be rewarded. Failure should not be a pre-condition for huge executive bonuses. There is no "I" in team.

I agree. Respect at all levels is very important.

 

[GumbyLearner]

Another thing. I know of a company that pumped a wildcat oil/gas well so big that it shot the share price through the roof 500 to 600%.A director unloaded a parcel of shares at near the peak and then ... you guessed it ... the well was a fizzer, the hydrocarbon "shows" were less than first thought and production tests proved a small flow rate.
The terminolgy they used was extremely sensationalised but because everyone trusts company announcements to be factual, it was believed to be true.
Now that is very suspect.

I think there could be some merit in a model like this one. Don't think the CEO's in Australia would like it though. But it appears to have worked very well for this company. More jobs, more profits and more success.

Semco SA - Brazil

http://en.wikipedia.org/wiki/Ricardo_Semler

After dramatic restrictions on liquidity instituted by Brazilian president Fernando Collor de Mello to combat hyperinflation in 1990, Brazil's economy went into a severe downturn, forcing many companies to declare bankruptcy. Workers at SEMCO agreed to wage cuts, providing their share of profits was increased to 39%, management salaries were cut by 40% and employees were given the right to approve every item of expenditure.

Performing multiple roles during the crisis gave workers greater knowledge of the operations and more suggestions on how to improve the business. Reforms implemented during that time led to 65% reduction in inventories, a marked reduction in product delivery times and a product defects rate that fell to less than 1%. As the business climate improved, Semco's revenues and profitability improved dramatically.

As of 2003, SEMCO had annual revenue of $212 million, from $4 million in 1982 and $35 million in 1994, with an annual growth rate of up to 40 per cent a year. It employs 3,000 workers in 2003, as opposed to 90 in 1982.

 

[tigerboi]

Re:eternal shame ive got imported blundstones

does anyone know how Blundstone are fairing now they too are a "importer" with no manufacturing presence in Australia?

sheesh mofra ya got me outa my seat in a flash onto the verandah to check out my blundstones.

..."australia since 1870" i bought in 2001 & wore them out & only use them for mowing the lawn these days.

the next set i got in about 2004 but i never use them much as i wear runners & masuers on interstate.they dont have the australian since 1870 words under the sole.enough said(i didnt notice til now!)

anyway back to these scabs pac brands my transport brothers down at botany have slapped a ban on these dogs taking out any gear to china as the people have paid for them.what about the ceo has she got more front than grace bros. or what ill take x3 you workers can have the sack.bitch

reckon get a syndicate together to short their ar5es to -1c

 

[GumbyLearner]

Re: eternal shame ive got imported blundstones

sheesh mofra ya got me outa my seat in a flash onto the verandah to check out my blundstones.

..."australia since 1870" i bought in 2001 & wore them out & only use them for mowing the lawn these days.

the next set i got in about 2004 but i never use them much as i wear runners & masuers on interstate.they dont have the australian since 1870 words under the sole.enough said(i didnt notice til now!)

anyway back to these scabs pac brands my transport brothers down at botany have slapped a ban on these dogs taking out any gear to china as the people have paid for them.what about the ceo has she got more front than grace bros. or what ill take x3 you workers can have the sack.bitch

reckon get a syndicate together to short their ar5es to -1c

Yep another quality Aussie product sacrificed. Started wearing "Blundies" 25 years ago and the steel caps while working in Transport. What a real shame another irreplacable, second-to-none product bites the dust.

They started selling those "Redback" boots (I think that was the name) years ago. But the quality of the workmanship in the boot was crap in comparison. Soft quality Australian leather, durable soles and excellent comfort was what you got with Blundstones. Elle Mac was a big fan of them too. Could also claim them as a protective clothing item on the Taxpack once a year. Now we are supporting sub-standard overseas trash. IMHO!

 

[robots]

hello,

i use Oliver work boots, the AT 45-639, lace up mid boot alloy cap they use, made in Ballarat i believe

http://www.oliver.com.au/asp/show_products.asp?CatId=2

wouldnt mine getting a pair of the high boot AT's, fantastic for the streets

one company will go and another will pop up, not much changes really

thankyou
robots

 

[GumbyLearner]

one company will go and another will pop up, not much changes really

thankyou
robots

Jobs

 

[cashcow]

hello,

i use Oliver work boots, the AT 45-639, lace up mid boot alloy cap they use, made in Ballarat i believe

http://www.oliver.com.au/asp/show_products.asp?CatId=2

wouldnt mine getting a pair of the high boot AT's, fantastic for the streets

one company will go and another will pop up, not much changes really

thankyou
robots

Now that's voting with your feet. Well done, robots.

Seriously, though, I do try to support local businesses when I possibly can too.

 

[robots]

Now that's voting with your feet. Well done, robots.

Seriously, though, I do try to support local businesses when I possibly can too.

hello,

thanks, always out there trying to my best for the country

wore all the other brands but these offer superior support, cushioning etc

about $160/pair, normally get about 12-16mths from a set (extreme use)

these are serious walking shoes and for the walkers out there try on a pair before going to the outdoor shops if in the market for some hiking boots

thankyou
robots

 

[GumbyLearner]

hello,

thanks, always out there trying to my best for the country

wore all the other brands but these offer superior support, cushioning etc

about $160/pair, normally get about 12-16mths from a set (extreme use)

these are serious walking shoes and for the walkers out there try on a pair before going to the outdoor shops if in the market for some hiking boots

thankyou
robots

I suppose this was KRudd's fault too. Even though he wasn't the PM at the time. That great little Aussie Battler John Howard could bail out National Textiles and his brother Stan Howard but not so for Blundstone.

http://en.wikipedia.org/wiki/Blundstone_Footwear

In January 2007, Blundstone Australia announced, due to increased costs, that it would shift production and manufacturing activities from Hobart and New Zealand to Thailand and India within the year, resulting in 360 job losses.

Hypocrisy at it's finest!

 

[Nyden]

hello,

thanks, always out there trying to my best for the country

wore all the other brands but these offer superior support, cushioning etc

about $160/pair, normally get about 12-16mths from a set (extreme use)

these are serious walking shoes and for the walkers out there try on a pair before going to the outdoor shops if in the market for some hiking boots

thankyou
robots

I agree. I wear Oliver shoes as well, I love them. Oh, and yes - they're made in Ballarat.

 

[Wysiwyg]

I suppose this was KRudd's fault too. Even though he wasn't the PM at the time. That great little Aussie Battler John Howard could bail out National Textiles and his brother Stan Howard but not so for Blundstone.

http://en.wikipedia.org/wiki/Blundstone_Footwear

In January 2007, Blundstone Australia announced, due to increased costs, that it would shift production and manufacturing activities from Hobart and New Zealand to Thailand and India within the year, resulting in 360 job losses.

Hypocrisy at it's finest!

So does this mean that Aussie taxes and wages are too high for companies to continue doing business in Australia?Surely the material costs aren`t the only reason.

 

[tigerboi]

Re: eternal shame ive got imported blundstones

Yep another quality Aussie product sacrificed. Started wearing "Blundies" 25 years ago and the steel caps while working in Transport. What a real shame another irreplacable, second-to-none product bites the dust.

They started selling those "Redback" boots (I think that was the name) years ago. But the quality of the workmanship in the boot was crap in comparison. Soft quality Australian leather, durable soles and excellent comfort was what you got with Blundstones. Elle Mac was a big fan of them too. Could also claim them as a protective clothing item on the Taxpack once a year. Now we are supporting sub-standard overseas trash. IMHO!

heres the 2 versions of my boots gumby,excuse the size as i didnt want to crop them so you can see the lot, if i could find a good aussie made pair i would pay good $$$.

never wear them unless i got to load at toll or linfox as they carrying on like good sorts if you lob in runners so i just toss them in the bunk,check the pics out cying shame all down to our spineless politicians...TB

aussie version 2001

made in china 2004

 

[GumbyLearner]

Re: eternal shame ive got imported blundstones

heres the 2 versions of my boots gumby,excuse the size as i didnt want to crop them so you can see the lot, if i could find a good aussie made pair i would pay good $$$.

never wear them unless i got to load at toll or linfox as they carrying on like good sorts if you lob in runners so i just toss them in the bunk,check the pics out cying shame all down to our spineless politicians...TB

aussie version 2001

made in china 2004

I wholeheartedly agree tigerboi.
Canberra is full of jellybacks and rubbernecks who haven't
done a hard days work in their life.