Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Director fees hike a golden thumbs up for sale

Clayton
COSGROVE
SOE Spokesperson
4 April 2013 MEDIA STATEMENT
Director fees hike a golden thumbs up for sale

The 73 per cent hike in directors’ fees for Mighty River Power shows the asset sales programme is a cash cow that keeps on milking the taxpayer, says Labour’s SOEs spokesperson Clayton Cosgrove.

“Mighty River Power’s directors are getting a whopping 73 per cent pay rise. But what has changed in their job description, workload or responsibilities? All that’s changing is the shareholding. Given that there will be a decrease in Parliament’s oversight their job has arguably become easier.

“The Government is making a habit of shelling out money to SOE heads – Solid Energy’s former CE got a $250,000 golden handshake. This is a golden thumbs up for Mighty River directors, saying thanks for going private.

“The asset sales process is turning into a gravy train that Kiwis are paying for. Right now Mighty River’s directors are being paid an extra $1200 a day to prepare for sale. Soon they’ll get $36,000 more. No wonder some SOE directors have been so enthusiastic about asset sales.

“The directors of Meridian and Genesis will be licking their lips.

“Tony Ryall calls a 73 per cent pay rise a ‘conservative increase’. I’d hate to see what a big pay hike looks like in Tony Ryall’s eyes. He’s completely out of touch.

“Kiwis need to know how this 73 per cent golden thumbs up came about. Did the directors threaten to resign unless they got a big pay packet? If not, call their bluff. This Government talks tough when it comes to Kiwi strugglers but rolls over when it comes to their mates.

“Every year there will be stories of increasing directors’ fees because they’ve ‘got to compete with private sector salaries’. What a crock and what a loss to the taxpayer,” says Clayton Cosgrove.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Mana Māori: Kawenata Unites Kaupapa Māori Parties

The Māori Party and Mana Party have signed a historic agreement today to unite Māori politically.

Māori Party president Tukoroirangi Morgan said the kawenata or agreement was a huge step forward for Māori in the lead up to the general elections.

"Today is an important day for the Māori nation because today is when the country's only two kaupapa Māori political parties unite to work tactically together in the best interests of our people," says Mr Morgan. More>>

ALSO:

.

 
 

Immigration: Short Reprieve For Nine Indian Students

A temporary hold on deportations of nine Indian students is a step in the right direction but the Government urgently needs to implement safeguards to stop further injustices to more international students, the Green Party says. More>>

EARLIER:

Welfare: WINZ Breaching Privacy Laws With WINZ Vetting Rules

E tū, the union for security guards, says WINZ may be breaching privacy laws with its new screening process for people visiting WINZ offices. The vetting requires WINZ security guards to check photo ID and whether visitors to WINZ offices have an appointment.More>>

ALSO:

Turnbull Visit: Leaders’ Talks Cement Trade Relations, Science Agreement

Mr English met with Prime Minister Turnbull in Queenstown today to discuss common approaches to bilateral and international issues, including trade and science and innovation. Mr English also thanked Mr Turnbull for Australia’s offer of support for those fighting the fires on the Port Hills in Christchurch. More>>

ALSO:

Youth Guarantee: Upskilling Fund Used For Retraining

News that one in five of the people enrolling in Youth Guarantee already hold qualifications at the level they’re enrolling in highlights the failure of the scheme to reach the disengaged young people it was set up to assist, says Labour’s Education spokesperson Chris Hipkins. More>>

ALSO:

Port Hills Fire: Midday Update, Monday 20 February

• 9 homes destroyed
• 2 homes with partial damage. Damage includes things like cracked windows, heat damage.
• 3 properties with damage to other external structures e.g sheds or outbuildings More>>

ALSO:

Gordon Campbell: On What Trump May Mean For Us

So far not much effort has been put into tracing the possible implications for New Zealand of the stream of executive orders and tweets that have been pouring from the Oval Office. Unfortunately, we may not simply be drive-by rubberneckers at this car wreck for much longer. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news