Forum Archive Index - October 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

Air New Zealand...again!

I was going to point this out in the weekend when I first found out, but
time ran away from me - other sections of the media may have already made
the same observation.  Basically, the gist is this.

Airlines in the United States are facing bankruptcy and liquidation
following the Sept 11th attacks.  As a symbolic and practical gesture the
CEOs at most of the major American airlines are forgoing their pay for the
rest of the year.  The top executives too have taken various pay cuts (this
article from CNNfn elucidates):

http://cnnfn.cnn.com/2001/09/28/companies/airlines/

Now, compare this to the executives of our very own Air New Zealand.  In
August, a short while before announcing the biggest loss in New Zealand's
corporate history, the liquidation of Ansett and a major funding shortfall
all the executives got bonuses (check this Herald article):

http://www.nzherald.co.nz/storydisplay.cfm?thesection=business&thesubsection
=&storyID=216875&reportID=58552

Draw your own conclusions about the way business should and shouldn't be
conducted.

Comments welcome.

Best Regards

Ben Dutton


----------------------------------------------------------------------------

Interested in learning more about the sharemarket and investing?  Check out
the upcoming ShareChat Investor Education Seminars - please visit
http://www.sharechat.co.nz/services/seminars/ to find out more.

----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/