shareholders are free to vote on that
Yabby,
yes & who makes up the bulk of shareholders ? Public Servants of course as only they can afford to buy shares. They're not going to vote out managers who perform purely because incompetent Government doesn't put the brakes on them.

*yes & who makes up the bulk of shareholders ? Public Servants of course as only they can afford to buy shares.*

Oh rubbish, Individual. Something like 40% of the population
owns shares directly, nearly everyone indirectly through their
super funds.

In the early 90s I employed a 17 year old, straight out of school.
While her friends bought dresses, cds and make up, she bought
Westpac shares for 3 bucks each. She still benefits. Its a fact
of life, some people blow it at the pokies, some put something away
for a rainy day. All those grey nomads travelling around the
country, you'll find a good chunk of them own shares bought
years ago. The thing is, in our society people have choices, we
can't compel them to make smart ones, just offer them the
opportunities for the taking, its up to them. Many never do, then
will be the first ones to complain on OLO, that they are getting
a raw deal in life. Just another human foible.

40% of the population
Yabby,
you're getting close, in fact the Public Service makes up more than 40%.

*you're getting close, in fact the Public Service makes up more than 40%*

Individual, which has absolutaly got zilch to do with who in
Australia actually buys and owns shares. Just rabbitting on
a bit, is not going to do it for you, I am afraid.

Indy, like most on this site, you just don't understand how the wheels turn.

As yabby points out, pay your CEO a bonus of say 3 mill$ and , as long as he saves that plus some, they are in front.

Also, insiturions are the largest share holders, many made up of mums and dads super funds.

This is typical labor union logic, times get tough, just increase wages.

Well, the end result will be no jobs.

Don't agree, just keep pushing and we will see who is right.

When times get tough, there are many options including, cutting back on ones spending, re thinking ones lifestyle or even getting a second job.

Now according to mandamus PM, getting a second jobs is easy as we have 'full employment', apparently!

don't understand how the wheels turn.
rehctub,
You'll find that most do understand, they just don't agree to how it's done. If you know someone who has some integrity, ask them about it & they'll tell you the same. Investment with the view of making more is a proven poor economic tool. Investment with a view of creating employment & sustainable economy is a good thing. I bet the investment schemes that went ar$e up were of the former variety. Those which focus on the latter are going strong. Nothing too scientific about that at all.