It will only be a matter of time before Aust Post is completely sold off in my opinion. The operation is completely unsustainable when the top ten executives reportedly earn $20 million dollars between them...
To put in perspective in the new unsustainable ludicrous postage stamp cost of $1, that means 20 million letters have to be posted just to pay the top brass's salaries...let alone their bonuses and other little niceties they grab. Then add in the operational costs etc etc, it is a loss making business.
Their parcel post makes money apparently, but if prices like above are what they expect to be paid then it will start to head down the gurgler as well.
With so many businesses opting for electronic means to communicate it is a no brainer where Aust Post is heading.
Ole mate Ahmed Fahour better start putting some of his $4.8 million annual salary away for a rainy day...
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