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Christmas Comes Early For The Bank CEOs (Read 2861 times)
imcrookonit
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Christmas Comes Early For The Bank CEOs
Nov 16th, 2010 at 5:30pm
 
NAB chief Cameron Clyne's pay packet has jumped almost 50 per cent, capping off a good year for Australia's bank bosses.

Mr Clyne’s total salary package for the 2010 financial year jumped to $7.73 million, up from $5.2m last year, National Australia Bank’s annual report, released today, shows.

But the jump pales in comparison to the 76 per cent hike in Commonwealth Bank chief Ralph Norris’s $16.2m package.

Mr Clyne benefited on short-term incentives, which more than doubled to $1.9m, paid in cash. His fixed cash salary also increased to $2.7m, from $2.3m.

The NAB CEO is the last of the big four banking bosses to have their pay revealed amid public anger at the banks, with Westpac accounts yesterday showing chief Gail Kelly had instead taken a $1.12m pay cut to $9.58m.



ANZ chief Mike Smith is the second-biggest earner, taking home a $10.9m package.

The release of chief executive salaries comes at a less than opportune time for the banks after they raised interest rates higher the Reserve Bank’s official increases. 


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imcrookonit
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Re: Christmas Comes Early For The Bank CEOs
Reply #1 - Nov 16th, 2010 at 5:36pm
 
Maybe they could afford to do a little shopping at Bunnings I wonder?.                          
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Sir lastnail
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Re: Christmas Comes Early For The Bank CEOs
Reply #2 - Nov 16th, 2010 at 6:44pm
 
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Verge
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Re: Christmas Comes Early For The Bank CEOs
Reply #3 - Nov 16th, 2010 at 6:58pm
 
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Sir lastnail
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Re: Christmas Comes Early For The Bank CEOs
Reply #4 - Nov 17th, 2010 at 3:09pm
 
Verge wrote on Nov 16th, 2010 at 6:58pm:
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.


I'm talking about obscene pay packets for CEO's. How do you justify it ??
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Verge
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Re: Christmas Comes Early For The Bank CEOs
Reply #5 - Nov 17th, 2010 at 4:06pm
 
Sir lastnail wrote on Nov 17th, 2010 at 3:09pm:
Verge wrote on Nov 16th, 2010 at 6:58pm:
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.


I'm talking about obscene pay packets for CEO's. How do you justify it ??


I think you will find my position is I dont care, unless they are being funded by unfair practices like increasing rates above the RBA, ATM fees and high exits fees which prevent people from being able to change without financial consequence.

If people borrow too much, thats their problem.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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Kat
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Re: Christmas Comes Early For The Bank CEOs
Reply #6 - Nov 17th, 2010 at 4:21pm
 


The CEO of my bank (Westpac) is on $200,000+ a WEEK.


Yet they throw a hissy-fit and send me nasty letters

over a $45.00 overdraft (which is always cleared within 10 working days).

Frack me!!!!
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...
 
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gizmo_2655
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Re: Christmas Comes Early For The Bank CEOs
Reply #7 - Nov 17th, 2010 at 4:27pm
 
Kat wrote on Nov 17th, 2010 at 4:21pm:
The CEO of my bank (Westpac) is on $200,000+ a WEEK.


Yet they throw a hissy-fit and send me nasty letters

over a $45.00 overdraft (which is always cleared within 10 working days).

Frack me!!!!


LOL I had Westpac bitch and whine about a -$4 fee...
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
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perceptions_now
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Re: Christmas Comes Early For The Bank CEOs
Reply #8 - Nov 17th, 2010 at 5:02pm
 
The drovers dog could do just as good a job, as most CEO's!
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The_Barnacle
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Re: Christmas Comes Early For The Bank CEOs
Reply #9 - Nov 17th, 2010 at 5:38pm
 
Quote:
Mr Clyne’s total salary package for the 2010 financial year jumped to $7.73 million, up from $5.2m last year, National Australia Bank’s annual report, released today, shows.

But the jump pales in comparison to the 76 per cent hike in Commonwealth Bank chief Ralph Norris’s $16.2m package.



So what exactly do these people do that justifies a multi million dollar salary? A trained monkey could run any of the big 4 Banks and they would still make money. The "Brand" was around a long time before the CEO's were.

It staggers me that anyone's labour could be worth almost $44,000 each day.
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tickfen
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Re: Christmas Comes Early For The Bank CEOs
Reply #10 - Nov 17th, 2010 at 5:57pm
 
Quote:
Maybe they could afford to do a little shopping at Bunnings I wonder?.                          




Naaaa I reckon they still shop at the Reject Shop...and only from their bargain discounted junk bins too!
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Yeah, I know I'm right, so I guess you just have to learn to live with that!
 
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tickfen
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Re: Christmas Comes Early For The Bank CEOs
Reply #11 - Nov 17th, 2010 at 5:58pm
 
Sir lastnail wrote on Nov 17th, 2010 at 3:09pm:
Verge wrote on Nov 16th, 2010 at 6:58pm:
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.


I'm talking about obscene pay packets for CEO's. How do you justify it ??



Its the fruits of capitalism.

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Yeah, I know I'm right, so I guess you just have to learn to live with that!
 
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Sir lastnail
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Re: Christmas Comes Early For The Bank CEOs
Reply #12 - Nov 17th, 2010 at 7:09pm
 
Verge wrote on Nov 17th, 2010 at 4:06pm:
Sir lastnail wrote on Nov 17th, 2010 at 3:09pm:
Verge wrote on Nov 16th, 2010 at 6:58pm:
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.


I'm talking about obscene pay packets for CEO's. How do you justify it ??


I think you will find my position is I dont care, unless they are being funded by unfair practices like increasing rates above the RBA, ATM fees and high exits fees which prevent people from being able to change without financial consequence.

If people borrow too much, thats their problem.


How come you don't bark up about obscene pay rises for CEO's but nit pick at measly pay increases for low income workers ??
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Sir lastnail
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Re: Christmas Comes Early For The Bank CEOs
Reply #13 - Nov 17th, 2010 at 7:12pm
 
The_Barnacle wrote on Nov 17th, 2010 at 5:38pm:
Quote:
Mr Clyne’s total salary package for the 2010 financial year jumped to $7.73 million, up from $5.2m last year, National Australia Bank’s annual report, released today, shows.

But the jump pales in comparison to the 76 per cent hike in Commonwealth Bank chief Ralph Norris’s $16.2m package.



So what exactly do these people do that justifies a multi million dollar salary? A trained monkey could run any of the big 4 Banks and they would still make money. The "Brand" was around a long time before the CEO's were.

It staggers me that anyone's labour could be worth almost $44,000 each day.


Yes you are right. Just have a look at how the corrupt banking system really works and yes a trained monkey could run one Wink

Creating money out of thin air and lending it to suckers with the blessing of the Governments of course Sad








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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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Verge
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Re: Christmas Comes Early For The Bank CEOs
Reply #14 - Nov 17th, 2010 at 8:21pm
 
Sir lastnail wrote on Nov 17th, 2010 at 7:09pm:
Verge wrote on Nov 17th, 2010 at 4:06pm:
Sir lastnail wrote on Nov 17th, 2010 at 3:09pm:
Verge wrote on Nov 16th, 2010 at 6:58pm:
Sir lastnail wrote on Nov 16th, 2010 at 6:44pm:
Come on Verge tell us that this is all justified !!

Just raise interest rates above the reserve bank increases and you get more than a guaranteed division 1 lottery win in your pay packet Wink


Go to the Hockey private members thread and you will soon see my position on the interest rate issues.

After viewing it, then come back with a new line.


I'm talking about obscene pay packets for CEO's. How do you justify it ??


I think you will find my position is I dont care, unless they are being funded by unfair practices like increasing rates above the RBA, ATM fees and high exits fees which prevent people from being able to change without financial consequence.

If people borrow too much, thats their problem.


How come you don't bark up about obscene pay rises for CEO's but nit pick at measly pay increases for low income workers ??


Because it bores me.  Because Swan is too gutless to make shareholders votes binding.

Also because you dont take things into perpective.

CBA Group in 2009 had a $3.9 billion dollar wages bill.  I have always said anyone who wants increases above CPI should justify them.
Above CPI of 1% on $3.9billion is how much exactly?

In companies like pacific brands, had the extra 1% it would have wiped out that years profit.
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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13
 
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