It’s for efficiency

Written By: - Date published: 8:58 am, June 26th, 2012 - 10 comments
Categories: capitalism, class war, cost of living, energy, privatisation - Tags:

Now we learn that directors’ fees are set to double after National sells our assets. Who pays for the fat-cats to get twice the cream for the same work? We do. Through higher power prices. It’s just another cost of privatisation that we all pay – despite the fact that Treasury reckons 95% of us won’t buy shares. No wonder 100,000 of us have signed the referendum petition already.

I’ll deal briefly with the argument that the Crown needs to start paying more than $1,200 a day to directors because they can get more in private companies. Apparently, $1,200 a day isn’t worth getting out of bed for. Well, Jenny Shipley is on both public and private boards. She was asked if she works harder for the private sector ones. She said of course not.

Like the $400m looters’ bonus that the Nats call a loyalty scheme, doubled directors’ fees is just another chance for the elite to use asset sales to steal public wealth.

10 comments on “It’s for efficiency”

  1. Carol 1

    Competitive pay for those on high incomes, performance pay and degradation of wages for those on lower incomes. Meanwhile they aim to undermine the unions’ role in getting employers to pay workers a living wage.

    NActUF – bunch of anti-democratic charlatans!

  2. Scott 2

    Let’s be reminded that the current ticketing fiasco, in the Auckland Public Transport system, is more fallout of the privatization of Auckland Bus and NZ Rail.

  3. DH 3

    They will of course be sacking the existing directors. If the encumbents were worth more the market would be paying them that already. That’s how the market works after all, you have to pay more to attract the best so if they’re working for less they can’t be much good & will be given the old heave ho.

    \sarcasm off

  4. Kevin Welsh 4

    So, what do these ‘quality directors’ do different to the lesser quality directors that we currently have?

    • mike e 4.1

      KW Have more Con ferances drive flasher cars nicer suits more lunches take less responsibility if things go wrong.

      • Draco T Bastard 4.1.1

        And don’t forget the bigger Golden Handshakes they get when things do go wrong and they actually have to admit things could have been better (still without accepting responsibility themselves).

      • hoom 4.1.2

        Well, you know, someone’s gotta actually use the National Convention centre…

  5. tc 5

    these ‘quality directors’ will bring even more ways to line their own pockets off the consumer directly via higher prices and/or not reinvesting in the network….a la telecom.

    History folks, if you don’t learn from it you end up repeating it.

  6. JonL 6

    I’m starting to think a series of targeted assasinations might be the way to go……….that’d get their interest!

    [lprent: It gets mine. I’d strongly suggest that you don’t pursue talking about any kind of imagined violence on this site if you want to comment here in the future. ]

  7. Craig Glen Eden 7

    Its the same shit all over again the directors needing to be paid more, I know a number of people who voted National who dont want asset sales they honestly thought it wouldn’t happen ( why they thought it wouldnt they can never explain )which I find hard to get my head round but there ya go.

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