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B.M.
03-07-2012, 03:12 PM
A golden handshake for former Telecom boss Paul Reynolds pushes the total remuneration he has received since 2007 to almost $24 million - and details of further payments are yet to be released.

HERE (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10816963)

Roscoe
03-07-2012, 03:18 PM
Although, to put it in perspective, Telecom does make $2m - $3m per day.

But . . .

Most of Telecom's profits go overseas as most of the shareholders are American, and

Very few of the employees at the coal face have had a pay increase for some time and a pay increase is not on the cards.:mad:

Chilling_Silence
03-07-2012, 03:23 PM
He's the top dog, he's overseen the companys split off which will help it remain relevant, as well as the deployment of the XT network and many other things. Effectively paying that much to keep the company alive seems like chump change to me?

WalOne
03-07-2012, 03:32 PM
When a large corporate like Telecom achieves the critical mass it has, there's nothing much around that would derail it.

Its monopoly ensures ROI is healthy and dividends or payouts of that nature are appropriately hidden by the sheer size of the total investment. So for someone who has really done little except push the buttons that activate the yes men and the minions employed at Telecom, and signing off on budgets his board probably don't understand anyway, the size of this payout is appalling.

That critical mass was achieved under the previous CEO (presumably the one whose toes were being painted under the table) and not Reynolds who has merely presided over the status quo.

I wonder if he got to keep his waders and fishing gear as part of the package?

Obscene is the right word.

:mad:

wratterus
03-07-2012, 03:34 PM
I don't see any issues in this case. If he'd made a hash of things perhaps, but he saw Telecom through some massive changes and challenges and on the whole, I think he's done a great job.

If it were you in that situation, BM, I don't think we'd be hearing any whinging.

WalOne
03-07-2012, 03:36 PM
He's the top dog, he's overseen the companys split off which will help it remain relevant, as well as the deployment of the XT network and many other things. Effectively paying that much to keep the company alive seems like chump change to me?

A company's split off is really only evolutionary ... a splitting of the parent cell. It serves to self perpetuate itself, and increase profits even further. And dispense even further dividends and payouts to the annointed management.

B.M.
03-07-2012, 03:40 PM
He's the top dog, he's overseen the companys split off which will help it remain relevant, as well as the deployment of the XT network and many other things. Effectively paying that much to keep the company alive seems like chump change to me?

:lol: Is that a Tui Add?

The President of the USA only pulls a $400,000 Salary HERE (http://www.therichest.org/celebnetworth/tag/barack-obama-salary-2011/)

And I wonder how much Renyolds got for his leed roll in that TV commercial. Would have been beyond the call of duty surely. :D

Nick G
03-07-2012, 04:41 PM
Seems reasonable to me. Most CEO's get a payout of some sort when they leave, and Reynolds hasn't been bad.

Terry Porritt
03-07-2012, 04:58 PM
He has been much more effective than his predecessor, who "used confusion as it's chief marketing tool" and who was responsible for the Go Large great go slow fiasco.

WalOne
03-07-2012, 06:05 PM
He has been much more effective than his predecessor, who "used confusion as it's chief marketing tool" and who was responsible for the Go Large great go slow fiasco.

Ah yes, used confusion as it's chief marketing tool - one of the great sayings of this modern world, right up there with Bill Clinton's "I did not have sex etc."

Apart from that gem, I still think Ms Gattung laid the groundwork for Reynolds to enjoy. As I said earlier, a CEO at that level just needs to know what to push and when, and Reynolds has had the luxury of a workable base.

mikebartnz
03-07-2012, 07:12 PM
Although, to put it in perspective, Telecom does make $2m - $3m per day.

But . . .

Most of Telecom's profits go overseas as most of the shareholders are American, and

Very few of the employees at the coal face have had a pay increase for some time and a pay increase is not on the cards.:mad:
Wrong the Aussies own the majority of Telecom. I have researched it as we had one guy here always bleating on about the mom and pop investors of NZ owning most of the shares which was total crap.

R2x1
03-07-2012, 09:28 PM
Wrong the Aussies own the majority of Telecom. I have researched it as we had one guy here always bleating on about the mom and pop investors of NZ owning most of the shares which was total crap.

Sorry, but it's the company that's total crap, nothing to do with the shareholders. (Those shareholders should all be prosecuted and minced for profiting from the proceeds of crime, then revived and flogged for living off immoral earnings. Directors and executives should be treated more severely; often. ;) )

Agent_24
03-07-2012, 11:34 PM
Well they just gave me 120GB so I can't complain.

But I doubt anyone needs that much money. Hopefully he will donate it to something useful.

Cicero
03-07-2012, 11:39 PM
For these people, it is never enough.

Greed is a vile master.

sarel
04-07-2012, 07:28 AM
Simply a question of supply and demand - of good quality CEO's. That's what they get these days. To blame this poor guy for greed, etc. is totally unreasonable. Plus he did a great job.

sarel

Cicero
04-07-2012, 10:43 AM
If it can't be seen that one man earns 12 million and another earns 50 thousand a year, that something is out of kilter, then there is nothing that can be said.

The supply and demand thing was working with all the bankers that are responsible for the present chaos.

mikebartnz
04-07-2012, 11:03 AM
Simply a question of supply and demand - of good quality CEO's. That's what they get these days. To blame this poor guy for greed, etc. is totally unreasonable. Plus he did a great job.

sarel
While you can't blame him for taking what is on offer how the hell did the situation arise where a CEO gets paid the equivalent of 480 average workers. Quite frankly I can not see him being worth that equivalent.

mikebartnz
04-07-2012, 11:04 AM
If it can't be seen that one man earns 12 million and another earns 50 thousand a year, that something is out of kilter, then there is nothing that can be said.

The supply and demand thing was working with all the bankers that are responsible for the present chaos.
:thumbs:

Chilling_Silence
04-07-2012, 11:22 AM
a CEO gets paid the equivalent of 480 average workers. Quite frankly I can not see him being worth that equivalent.

He works *really* fast! :D


No but seriously I've learned that as a VoIP specialist I have knowledge and experience that is worth paying for. I rarely get out of bed for jobs worth less than $100 an hour (Except where you help the family friend out for 'a box of beer' that is). I've done contracting jobs for $200 an hour in the past too.

Lets say I was earning that 40 hours a day, 52 days in the year, that's close to half a million dollars a year... I don't even earn 1/5th that, but still you see where I'm going though right?

Hypothetical situation here:
What if now, say, I was doing management, and overseeing a team of people that do what I do? Not only do I need to know how to do the technical stuff, but I need to know how to manage people, handle conflict etc, and so a company would pay me more.

Now imagine I've been contracted by a company not only to manage a team of people, but to essentially create and build a business doing this stuff? I now need to be qualified in more things, and as that finishes my experience increases.

Then, we buy out another business, and I'm suddenly in charge of merging several businesses together.

... suddenly it's easy to see how a bit of experience, and being in the right place at the right time, with the right savvy, the right personality, and that's how you end up making the big bucks!

Cicero
04-07-2012, 11:38 AM
When Buffet complains that he pays less tax than his secretary, the the fact is, things are out of kilter.

Nick G
04-07-2012, 11:56 AM
When Buffet complains that he pays less tax than his secretary, the the fact is, things are out of kilter.
Now that is true.

mikebartnz
04-07-2012, 12:00 PM
He works *really* fast! :D


No but seriously I've learned that as a VoIP specialist I have knowledge and experience that is worth paying for. I rarely get out of bed for jobs worth less than $100 an hour (Except where you help the family friend out for 'a box of beer' that is). I've done contracting jobs for $200 an hour in the past too.

Lets say I was earning that 40 hours a day, 52 days in the year, that's close to half a million dollars a year... I don't even earn 1/5th that, but still you see where I'm going though right?

Hypothetical situation here:
What if now, say, I was doing management, and overseeing a team of people that do what I do? Not only do I need to know how to do the technical stuff, but I need to know how to manage people, handle conflict etc, and so a company would pay me more.

Now imagine I've been contracted by a company not only to manage a team of people, but to essentially create and build a business doing this stuff? I now need to be qualified in more things, and as that finishes my experience increases.

Then, we buy out another business, and I'm suddenly in charge of merging several businesses together.

... suddenly it's easy to see how a bit of experience, and being in the right place at the right time, with the right savvy, the right personality, and that's how you end up making the big bucks!
I am not denying the fact that cetrtain jobs deserve greater pay, especialy with contractors but it is my view things have got way out of kilter and it is even worse in the states where you hear of some getting $50M. Who even needs that sort of money and at the end of the day if a company doesn't have its average workers it doesn't have a company.

WalOne
04-07-2012, 01:17 PM
When Buffet complains that he pays less tax than his secretary, the the fact is, things are out of kilter.

True, but isn't that brought about by the billions he gives to charity? He's the world's No 1 philanthropist ...

B.M.
04-07-2012, 01:23 PM
While you can't blame him for taking what is on offer how the hell did the situation arise where a CEO gets paid the equivalent of 480 average workers. Quite frankly I can not see him being worth that equivalent.

Exactly! :thumbs:

Cicero
04-07-2012, 03:10 PM
If you invented penicillin you are not worth a 1000 times more than another.

You don't choose to invent penicillin or be clever at running a business, you just thank your genes.

http://www.youtube.com/watch?v=pCofmZlC72g

R2x1
04-07-2012, 09:29 PM
Or, greed is it's own reward.
All telecom customers should face the nearest telephone pole, grovel and give thanks for being allowed to contribute. ;)