In the news this afternoon, the “nice work if you can get it” bonuses for Mighty River bosses:
Mighty River board getting extra $1200 a day
…It also emerged that Mighty River’s directors were receiving additional fees of $1200 for each day they spend working to prepare the company for its 49 per cent sale, scheduled to take place over the next two and half months.
Note that’s additional payments (the CEO got a tasty 34% pay rise last year to 1.7 Million). I very much doubt that the poor dears are working any harder than many who don’t see $1200 in a week, or a fortnight or… (Yeah yeah – I’ll see your “politics of envy” and raise you a “politics of greed”.)
Anyway, that’s not the only reason the bosses are making headlines:
Mighty River slammed by MPs
As Mighty River Power prepares to go to market, its bosses have been accused by MPs of being “smartarses” and treating New Zealanders with disdain over their refusal to answer written questions. …
The company’s chairwoman Joan Withers and chief executive Doug Heffernan appeared before Parliament’s commerce committee on Thursday, and came under fire from Labour MPs for answering fewer than 100 of the 130 written questions asked to all Government bodies at the time of their financial review. …
The company had written “this is not applicable to Mighty River Power because Mighty River Power is not a department, ministry or associated agency”.
Labour MP David Clark said that was “a kind of smartarse answer”, and other SOEs, including Genesis Energy – which will appear before the select committee on Thursday afternoon – had answered the questions in good faith.
Ms Withers and Mr Heffernan said if the questions were re-written to say “state-owned enterprise”, they would consider answering them.
“Consider answering” them. Oh that’s very kind of them. I can see why we’re paying these spoiled brats so well.