Written By:
notices and features - Date published:
6:00 am, September 27th, 2015 - 62 comments
Categories: open mike -
Tags:
The current rise of populism challenges the way we think about people’s relationship to the economy.We seem to be entering an era of populism, in which leadership in a democracy is based on preferences of the population which do not seem entirely rational nor serving their longer interests. ...
The server will be getting hardware changes this evening starting at 10pm NZDT.
The site will be off line for some hours.
http://www.norightturn.blogspot.co.nz
On Monday, Fonterra announced another round of job cuts, bringing layoffs to 750 for the year. Yesterday, their annual financial figures showed us why: profits were up, but revenue was down 15%, suggesting next year will be worse. So naturally, today we learn that their boss has given himself an 18% pay rise:
Fonterra’s chief executive received a pay rise of up to $770,000 last year, despite struggling milk prices and hundreds of his staff losing their jobs.
Fonterra chief executive Theo Spierings’ salary for the year to July 31 was between $4.93 million and $4.94 million, it was revealed in the company’s annual result on Thursday.
That’s up to 18 per cent more then what he was paid in the year to July 31, 2014, pushing his hourly take home wage up to $1595.
New Zealand’s adult minimum wage is $14.75.
It would take someone on minimum wage more than two weeks work to earn what Spierings makes in an hour.
Or 26 years to earn his pay rise.
Sack lots of people. Make less money. Watch your shareholder / suppliers go to the wall due to low prices. Clearly that’s the sort of performance which demands a boatload of cash.
We often find advocates of CEO pay increases are quick to justify such increases while also being rather good at expressing why common wages should stay down.
The sad thing, is that Fonterra is a co -operative – the profits are supposed to be returned to the farmers. Instead they have this imported CEO who specialises in Mergers (why not value added services which is where fonterra should be going) and has got the farmers going into debt with low milk payouts, putting Kiwi workers on the dole with job cuts, while awarding himself a massive pay rise, when turnover is DOWN (not a good sign in a business) and probably lower taxes to the government. WELL DONE NOT!
Send him a message Fonterra farmers and employees and the public!
Evidently, with the ever increasing growth in CEO salaries, we’re OK with it.
Little will change unless a good number make it an issue.
+100 saveNZ
+100 Ditto
However “The sad thing is, that Fonterra is a co-operative….”
It’s a co-operative that’s been buggerised and buggerised by those highly paid ‘leaders’ (ahem) who tempted its members by allowing them to flog off returns for short term gain when times are good (as I understand it).
Paula Bennett was in Indonesia Sept 8th opening another new fonterror plant….
Here is the link http://www.fonterra.com/nz/en/hub+sites/news+and+media/media+releases/fonterra+opens+manufacturing+facility+in+indonesia/fonterra+opens+manufacturing+facility+in+indonesia
The farmers have one of those “one remove” closed governance systems where they vote for a committee who sort out the directors don’t they? Just a closed loop really.
Frankly if you have 17 people paid over a $1m and they didn’t prepare for all this I’d sack the lot of them .
The original idea of the Fonterra merger was to strengthen the export of consumer products so NZ captured the value added. Instead they’ve exported commodities and wasted money building up production in other countries to compete with the locals and well as building processing plants there?
Remember the $100m plus factory they lost control of in China – which is still there under local control now. Great gift from the NZ farmers.
Yep why sell milk powder for peanuts when you could be adding value and creating jobs) by converting into higher value items and making a much higher return and improving supply chain in those areas? Or Jump on the organics growing at an enormous rate of growth in consumer demand.
Nope apparently organic milk farmers get the same price as conventional milk through Fonterra (although the consumer has to pay a lot more for it).
J
“A cultural failure, at a management level.”
A banking insider says some New Zealand banks made up to $1.5 million a day manipulating inter-bank interest rates.
Widespread rigging of the benchmark inter-bank BKBM rate, mirroring Europe’s Libor (London Inter-bank Offered Rate) scandal that rocked markets worldwide.
Sources claim manipulation in New Zealand dated from the 1990s.
“Over 20 years, we’re probably talking about billions of dollars”
But no domestic regulator has ever launched an investigation.
http://www.stuff.co.nz/business/72422535/banks-accused-of-raterigging-ripoff
A whistle-blower comes forward with an accusation of widespread market rigging (possibly involving billions of dollars over several years) and some would rather talk about the rugby?
Evidently, a number of citizens don’t care. And if we don’t care, surely we can’t expect anyone to act.
Carry on, nothing to see here. New episode of The Block starting next week. Red Peak anyone?
Hang on a minute….wasn’t Our Leader a big mover and shaker in the sector during this time?
Whew!
Luckily there is waay more important shit to occupy the minds of the nation….
Hopefully, Little and Shaw are done talking about the flag, Green and Labour supporters are over Red Peak and their little tiff, so perhaps now we can work together and focus on the issues that really matter.
Perhaps Shaw will see its actually quite easy to work with Key and will do so on matters that make sense.
Has a lot more chance to make a difference with the government that the perpetual opposition.
Considering the backlash, I think Shaw will think twice before working with National again.
Moreover, on more pressing matters, there would be little (if anything) where the two (National/Greens) would agree what the sensible approach is.
Wales has beaten England 28-25. Wow! Leeks among the Roses.
Brilliant, go for the seven and lose.
the nation shows our favorite wee dirty political rat in action – the ‘sick right’ in all its glory – spin like dirty shit water going down the toilet matty – you have never fooled me.
Totalitarianism Watch:
The assault on free speech in American universities continues.
by GLENN GREENWALD, The Intercept, 25 September 2015
There is no shortage of American pundits who love to denounce “PC” speech codes that restrict and punish the expression of certain ideas on college campuses. What these self-styled campus-free-speech crusaders typically — and quite tellingly — fail to mention is that the most potent such campaigns are often devoted to outlawing or otherwise punishing criticisms of Israel. The firing by the University of Illinois of Professor Steven Salatia for his “uncivil” denunciations of the Israeli war on Gaza — a termination that was privately condoned by Illinois Democratic Senator Dick Durbin — is merely illustrative of this long–growing trend.
One of the most dangerous threats to campus free speech has been emerging at the highest levels of the University of California system, the sprawling collection of 10 campuses that includes UCLA and UC Berkeley. The university’s governing Board of Regents, with the support of University President Janet Napolitano and egged on by the state’s legislature, has been attempting to adopt new speech codes that — in the name of combating “anti-Semitism” — would formally ban various forms of Israel criticism and anti-Israel activism.
Under the most stringent such regulations, students found to be in violation of these codes would face suspension or expulsion. In July, it appeared that the Regents were poised to enact the most extreme version, but decided instead to push the decision off until September, when they instead would adopt non-binding guidelines to define “hate speech” and “intolerance.”
One of the Regents most vocally advocating for the most stringent version of the speech code is Richard Blum, the multi-millionaire defense contractor who is married to Sen. Dianne Feinstein of California. At a Regents meeting last week, reported the Los Angeles Times, Blum expressly threatened that Feinstein would publicly denounce the university if it failed to adopt far more stringent standards than the ones it appeared to be considering, and specifically demanded they be binding and contain punishments for students found to be in violation.
Read more…
https://theintercept.com/2015/09/25/dianne-feinstein-husband-threaten-univ-calif-demanding-ban-excessive-israel-criticism/
Nasa to announce major science finding from Mars on Tuesday.
https://www.nasa.gov/press-release/nasa-to-announce-mars-mystery-solved
… no coincidence that it’s two days before the release date of the Ridley Scott-directed The Martian.
That’s the highly rated film starring Matt Damon, in which he has to “Science the shit out of everything” in order to stay alive on Mars.
http://www.rottentomatoes.com/m/the_martian/
The previews look pretty good.
Read the book last year. Incredible reading with maps inside the cover.
https://en.wikipedia.org/wiki/The_Martian_(Weir_novel)
Sounds like a remake (I have seen a movie with a similar theme but can’t recall its name).
I enjoyed this read:
http://www.stuff.co.nz/manawatu-standard/72248814/Palmerston-North-author-demystifies-spirituality
And the US takes one more step towards the scenario outlined in The handmaid’s Tale:
Shocking
Key and his ignorance really has to go ,everyday theres some cock up or another coming from this govt
Hes like a permanent state of stupidity like Muldoon over the springbok tour in the 80s
Can anyone seriously see him as leading this country as I for one wouldnt buy into any of what he makes us endure
Chaos for the young
Insecurity for the old
Fascist allegiance in the workplace and govt
No moral compass or understanding of the damage war does which makes him the epitome of the saying
Was going to quote something but what suits Key is “Hes a Bloody Fascist”
Kentucky politician claims he has a Constitutional right to receive gifts from lobbyists
If only Rodney “Perk-taker” Hide and John “Separate Cheques” Banks had thought of this brilliant scheme….
https://theintercept.com/2015/09/24/state-senator-files-lawsuit-says-ban-lobbyist-gifts-violates-freedom-speech/
Well the only conclusion now is that the crown know they have no case against dotcom. So far two days of public grandstanding. So far not one shred of actual evidence of any actual crime. They up to page 50 of 250. So i guess they reckon that after ten more days of breathless exposure of sinppits drawn sans context from years of communications, we will all be convinced and the judge will be swayed by public opinion. Well i suppose its a plan when they have nothing else! good old tvnz helping with their multiple references to the “co-conspiretors” and assigning reporter who is totally ignorant of the technical details. But maby the lawyers at Sony who advised them not to participate in the action knew what they were about. We may have to forgo the pandas for a few years untill the public purse recovers.
EARTH to Co-leader Metiria Turei – ARE YOU RECEIVING? – OVER…..
I repeat ….
EARTH to Co-leader Metiria Turei – ARE YOU RECEIVING? – OVER…..
State your position please ….. over
Control to Green Squad – no response – should we send out a rescue?
Green squad to Control – yea/nah, hold off – coLeader Jimmy’s running the options
STANDBY
Yes, becoming a worry….
Read somewhere she’ s overseas at a convention or on some fact finding mission. Whatever, she’s not in the country.
Make the world a better place.
Forcibly sterilise a Tory.
Was just looking at that.
The State may try to stop some families having more children
Tolley acknowledged it would be a “huge step” for the state to start telling people that they could not have another child, but said it was “a conversation that New Zealanders, perhaps, need to have”.
Tolley did not rule out limiting or preventing some families from having another child, but said she would wait to see what the panel recommended in December.
http://www.stuff.co.nz/national/politics/72451962/state-may-try-to-stop-some-families-having-more-children
Thoughts?
It looks suspiciously like another distraction: Tory scum kill children with their blithering incompetence and vile prejudice, then pretend that the victims are asking for it.
Tories are walking adverts for post-natal abortion.
Scorn was poured upon former ACT MP David Garrett’s suggestion that bad parents be offered a fiscal incentive to get sterilised.
Wonder if Tolley will face the same disdain?
It’s a smokescreen: the trash need something to distract from their
policiesmanslaughter, so they let Anne Tolley run her mouth, everyone gets excited, the manslaughter gets pushed down today’s list of headlines.Alternatively, it’s another attempt to test the waters (to see if the public attitude has changed) and air the sterilization issue again.
The Sabinist wing of the National Party will support anything that promises to legitimise their sick fantasies. They’re useful as a distraction, and nothing else: National’s owner/donors won’t fund the civil war they crave.
I’m going to stick my neck out and say that as long as it is done through educating and making it free to all then offering contraception to people at the troubled end of society is a good thing .
yeah beginning with Garret..but charge him-
No on second thoughts, I’ll pay.
Part and parcel of the right wing self-serving lie that poverty is inevitable. That’s what it is. Wait, there’s more: it moves beyond victim-blaming into violence.
Anyone who collaborates in this vile fascism needs to be extradited to The Hague for human rights violations.
It’s time to get tough on Tory scum.
We already do that (education and provide free contraceptives).
Tolley is suggesting we go further, a discussion on forced sterilization.
How horrible.
The Nazis did this.
https://en.wikipedia.org/wiki/Nazi_eugenics
Eugenics was also popular in NZ’s past history and still has a following today.
I did notice there was nothing said about getting men the chop .
Its cheaper easy and some of the drop kicks I’ve known that think its neat having kids all over the place would probably jump at it for a easy $10 k.
Just for the record I am totally opposed to forced sterilization.
Yes, you’d never actually do the manslaughter yourself. You just go in for a bit of supportive victim-blaming.
What man slaughter are you on about ??
The two fallas i was thinking about are not victims and there not even that bad a people but they a boys in men’s bodies ,who don’t think that if the have a child they should care for them.
See if you can figure it out: why on Earth would anyone describe the National Party’s social and economic policies as manslaughter? Why oh why? Perhaps it’s all the deaths they cause.
Just another piece of fascist control by the Fuhrer state
If you cant afford kids you state should have the right to control you why should the rich support the poor blah blah and all the rest of it
Yeah right 2 crispies with your cuppa Ann? give me strength
https://theintercept.com/2015/09/23/u-s-state-department-welcomes-news-close-ally-saudi-arabia-chosen-head-u-n-human-rights-council-panel/
“Last week’s announcement that Saudi Arabia — easily one of the world’s most brutally repressive regimes — was chosen to head a U.N. Human Rights Council panel provoked indignation around the world. That reaction was triggered for obvious reasons. Not only has Saudi Arabia executed more than 100 people already this year, mostly by beheading (a rate of 1 execution every two days), and not only is it serially flogging dissidents, but it is reaching new levels of tyrannical depravity as it is about to behead and then crucify the 21-year-old son of a prominent regime critic, Ali Mohammed al-Nimr, who was convicted at the age of 17 of engaging in demonstrations against the government.”
we have become bizarro world.
+100
Everything You Think You Know About the History and Future of Jobs Is Likely Wrong
Otherwise known as the Rise of Bullshit Jobs.
Oh, and this bit:
So, getting people off of unemployment does help them but only if it’s a good job otherwise it’s doing them harm. Something else this government should be charged with.
when we are all baristas will anyone buy a coffee?
Nope, won’t be able to afford to.
Besides, baristas will be replaced by automated coffee dispensing stations.
that is post barista saturation society
When you have the US and European governments now say, they want to talk with and keep this man in power for a transition time, I can confidently say, the “west” has totally lost the plot and is prepared to make deals with the worst of other parties there are:
This will give both Nusra Front and ISIS the perfect reason to recruit even more disillusioned to join the war, and also to have bombs blow up in places in “the west”. How stupid is “the west”, how damned ignorant are Obama, Merkel and others, they are digging their own graves, I fear.
“The west” is the Roman Empire of modern days, and its empire is numbered by days. l also have NO time for Putin and his agenda, who some here seem to support, it is pure madness, what is going on. Denial is the rule of the day, prepare for the worst.
Another interview with western media, where a ruthless dictator defends himself and his military and police, I cannot believe, that European governments, the US and so want to talk with those supporting him:
More lies, lies and endless lies:
https://www.youtube.com/watch?v=I2J33PIAQ1k
I fear this will be the answer:
https://www.youtube.com/watch?v=TQI3EGN04r4
Shocking the ignorance of those in power and control, I give up hope for the future of humanity.