biggest pay cuts in aust corp history

[marvenger]

http://business.smh.com.au/business/...ix.html?page=1


Macquarie CEO Nicholas Moore has seen his bonus slashed from $18.7 million to just $2.12 million and his overall package is down by 98.9% from $26.75 million to a miserable $290,756, although this partly reflects some accounting quirks and reversals of previous bonus entitlements.
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Former CEO Allan Moss didn't really collect $24.75 million in his final year because he pops up in this year's annual report with a negative salary of $3.08 million.
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This reflects the long-term incentive scheme in which cash bonuses are invested in instruments that reflect the performance of some Macquarie funds. These have performed badly so Australia has its first negative salaries under the accounting standards.


Macquarie Model in Deep Doodoo!

[thunderdownunder]

Re: biggest pay cuts in aust corp history

The Mac model was based on heavy debt with inflationary expectations down the line. Debt remains but the deflation of the assets is now flooding this little ship qicker then they can bail -this is not disimilar to the Homeowners who find themselves in negative equity and with an income cut- Please brother can you spare a dime - Deep Doodoo indeed