Forum Archive Index - July 2002
Please note usage of the Forum is subject to the Terms & Conditions.
Re: [sharechat] Air NZ Board
And it seems I was very wrong in laughing at the Air NZ board for not
buying shares in their company...read this article in the Herald:
Apologies! I should learn more about the Securities Amendment Act
before opening my mouth.
Best Regards
Ben Dutton
----- Original Message -----
Sent: Thursday, July 11, 2002 10:47 AM
Subject: Re: [sharechat] Air NZ Board
> Hi Mike, very good point with regards to share options
however I still find
> it odd that some directors don't own any or even a
symbolic (as Ralph Norris
> does) parcel of ordinary shares.
>
> There are two ways you can look at it really, your way and saying that
a
> holding symbolises a vote of confidence in the company.
>
> Best Regards
>
> Ben Dutton
>
>
>
----- Original Message -----
> From: "Mike Hudson" <mikehudson@clear.net.nz>
>
To: <sharechat@sharechat.co.nz>
>
Sent: Thursday, July 11, 2002 10:33 AM
> Subject: Re: [sharechat] Air NZ
Board
>
>
> > I don't find it that laughable.
>
>
> > I believe that many of the current "acounting issues" that are
surfacing
> in
> > the US have poor governance by the Boards of
Directors as their roor
> cause.
> > In a situation where the
directors' remuneration is dependant on the same
> > criteria as the
management's i.e. profit on share options it is hardly
> > surprising
that directors will turn a blind eye to the excesses of
> > executives.
If it was up to me I would ban share options from being issued
> > to
directors.
> >
> > I would much rather see a board of strong
disinterested directors acting
> in
> > the interests of all
shareholders rather than a bunch of lackeys in the
> > pockets of
management or a cornerstone shareholder.
> >
> > Interestingly
this seems to be the pattern in the UK where many of the
> > directors
of public companies do not own shares in their company.
> >
>
> Cheers
> > Mike H
> >
> >
> >
>
>
> >
> >
> >
> > ----- Original Message
-----
> > From: "Ben Dutton" <bendutton@sharechat.co.nz>
>
> To: <sharechat@sharechat.co.nz>
>
> Sent: Thursday, July 11, 2002 10:30 AM
> > Subject: [sharechat]
Air NZ Board
> >
> >
> > > Is it just me or is
this laughable to the extreme:
> > >
> > > "They may be
doing their best to reinvigorate the national carrier, but
> >
most
> > > of Air New Zealand's directors have yet to back their
governance prowess
> > > with their money"
> > >
>
> >
> >
> http://www.nzherald.co.nz/business/businessstorydisplay.cfm?storyID=2097005&
>
> >
> >
>
thesection=business&thesubsection=transport&thesecondsubsection=aviation&the
>
> > tickercode=AIR
> > >
> > > The chairman of the
board does not own a single share of his company! A
> > > vote
of confidence?
> > >
> > > Ben Dutton
> > >
(laughing but laughing sadly - disc. no Air NZ)
> > >
> >
>
> >
> >
--------------------------------------------------------------------------
>
> --
> > > To remove yourself from this list, please use the form
at
> > > http://www.sharechat.co.nz/chat/forum/
>
> >
> >
> >
> >
--------------------------------------------------------------------------
>
--
> > To remove yourself from this list, please use the form
at
> > http://www.sharechat.co.nz/chat/forum/
>
>
>
>
>
----------------------------------------------------------------------------
>
To remove yourself from this list, please use the form at
> http://www.sharechat.co.nz/chat/forum/
>
References
See IRG research reports
