Foxy,

Always a pleasure to deal with a lady; keeps me gentlemany - almost!

Dear ttbn,

You Sir are a gentleman - but more than
that you have a good heart.

None of this makes Ahmed Fahour a villian, of course. Who among us would knock back such riches if we a had run at them? If a piece on MSN yesterday, 'The 'myths' that justify huge pay packets for chief executives' is anything to go by, the Australia Post/Fahour business is just the tip of a very large iceberg. If it's still up, it is worth a read.

Next time you see that a salary was fixed by an independent group of people, don't relax as you might of done in the past; the 'independent' bit is where the problem lies. Independent directors are not share-holders, nor do they have any direct financial stake in the company. So, they are not spending 'their' money to attract the 'best and brightest' (supposedly); they are spending other people's money, and it could be yours. There are some interesting solutions to the problem in this article, including share-holders deciding salaries, workers on boards and, of course sensible legislation from dozey politicians.

One thing very interesting in 'The myths' is the information that, “between 2001 and 2008, JUST BEFORE THE GLOBAL FINANCIAL CRISIS”, median fixed pay for Australian chief executives rose “a staggering120%, from about $780,000 to $1.7 million..”

Business enterprise is the life blood of the West and it is good; greed, not so good.

ttbn, "Who among us would knock back such riches if we a had run at them?"

I know you are just being expansive to make another point.

Let me assure you though that by far the greatest majority of managers, board members and CEOs, both private and public, are nothing like that.

You will find that the cowboys (cowgirls too!), opportunists and others with flexible 'ethics' are shunned by their peers and rightly so.

Nor does it fairly represent the main body of the public. You could leave your private affairs in the hands of most people in the certainty that they would deal with them honestly and fairly, with your best interests in mind.

PM Turnbull is to be applauded to criticising Australia Post. That says a lot about his own ethics and principles. The political partisanship of some here(not referring to your posts) and in the inner city media :( always requires a predictable spin that is studiously oblivious to the facts and the obvious rights and wrongs.

Every year the Govt gets the bank CEOs to explain themselves and be told they're naughty boys. Then off to lunch and champers. Naughty Auspost , such a shame but what can you do?

nicknamenick,

You are feeling disempowered.

Any competent risk analysis advising the Board would rate the risk of public embarrassment as a key concern with the prospect of large losses s a consequence.

There are reported case examples where shareholders have been very activist at AGMs and large investors too, who don't want their brand damaged, or are more likely, looking for professionalism, ethics and principles where they put their own investors' money.