Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sense should have prevailed among Nuplex shareholders

November 1, 2012

Sense should have prevailed among Nuplex shareholders

A union representing workers at Nuplex Industries has slammed moves to whack up director fees at a time when the company is laying off workers on both sides of the Tasman.

At Nuplex Industries’ Annual General Meeting today, a motion to increase the directors’ fees pool was initially voted down on a show of hands, but was then passed with a formal vote.

The result is an increase in the directors’ fee pool of around 28 per cent, and FIRST Union General Secretary Robert Reid said that this was entirely inappropriate at this time.

“We were astounded that Nuplex would be proposing such a move at a time when they are laying off staff. It shows a complete lack of judgement.”

“We had hoped that shareholders would have similarly seen sense to vote down the increase, as the Shareholders Association and others had called for.”

The National Distribution Union and Finsec joined forces in October 2011 to form New Zealand’s newest union – FIRST. The union represents 27,000 people working in Finance, Industrial (Textile and Wood) Retail, Stores & Transport. http://firstunion.org.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news