OK, I was having a chat with another shareholder and I happened...

OK, I was having a chat with another shareholder and I happened to mention, what I consider, exhorbitant executive salaries at a certain major airline.

The idea occurred to me to have a look at the Director's fees for same, to compare them to our little 'issue'. Obviously, a company with 'exhorbitant' executive salaries would pay their directors ALOT more than APG ( a company with NO cashflow) would LIKE to pay theirs........

These are the cash benefits only, as the share side of it is not at issue here ( at least, not for me)

CEO of Major International Airline ( MIA from here on..)
$2.18 million.
CEO of APG
$166,067

Chairperson MIA
$453,388
Chairman APG
$30,000

OK, well so far the theory holds...on to the directors.......

Average of remaining Directors MIA
$136,559

Director Fee APG want approved at AGM
$155,000

Wait, that can't be right......maybe MIA lost money last year like APG?
Let see.......

MIA Profit 2006-2007 $1,047,000,000
APG Profit 2006-2007 $2,207,543.....LOSS !


So let me get something straight, it appears they want Directors of a company which made a 2 million dollar LOSS, to be able to potentially earn $19,000 MORE than those of a company which made $1.049 BILLION dollars more.........

Interestingly, all the Directors of that certain MIA own shares in it !!

Therefore, one can only hope that it is in order to bring a MAJOR corporate name onboard.
Whoever they have their eyes on had better bring oodles of contracts or contacts with him, in which case he's worth it....but how do you stop ALL of them getting it ??!!


As an aside, there is a director on the 'MIA' board earning approx $160k who BHP know very well.......

$160k, now that's close to another interesting number ?!?