despite loss, asciano board wants pay rise, page-3

thanks aip for highlighting the low lifes that masquerade as directors of this company,ive spoken before about the business attitude that permeates through AIO.rowsthorn has more or less just spat in all your faces.

after selling more of the company to pay off less than half what it owes,therefore easily increasing ebit they move the goalposts for performance bonuses from EBITDA(gross profit) to EBIT(09..$380m,which will go up to about $550m)so rowsthorn will get his 3,861,702 oppies that is easily done...ON THE SHAREHOLDERS BACKS..not through good management.

this year rowsthorn says hes going to save $97m...wow wee!4.47% of last years revenue,i could have saved him $302m in 07/08...yep that year when they lost $171m...thats lost $171m...this company bought on the credit card for $5.8b PAID A DIVIDEND TOTALLING $302m.what gives here?

savings need to be really made of at least $200m off the $2166m expenses account not treating the company as your personal bank.this type of attitude has been seen in all the companies that have collapsed,eddie groves & the finance broker companies.

you need a leader that is working for the COMPANY not a rowsthrorn who was too weak to stand up to little on the split.

if rowsthorn had any genuine leadership qualities at all,then on the split he would of said to paul little "hang on mate you said debt would be $4.3b not $5.8b",so that lack of backbone has shown in the decisions he ONLY MAKES FOR HIMSELF.

THIS IS WHAT I WOULD DO.

first head hunt a ceo who has run a company that actually makes alot of money,a real leader...some of the well run companies are,asx,hvn,jbh,bxb,cca,dow(rail division)csl,bunnings(wesfarmers.)a leader focused on the company not a MR who only wants to do it for himself.his fault for not showing backbone on the split...

then i would head hunt a leader for the rail division with candidates possibly from sct transport(they started their own rail division after paul little charged too much to shift freight to perth,now they are biggest private railway owner,peter smith who owns sct previously owned cubico & set up the intermodal terminal at minto.)

so,sct,maybe someone out of the railways from,bhp,rio,fmg,downer edi or go for one of the builders such as leightons, or K&S corp do rail pretty good.

cut expenses from $2166m to at least $2000m,$97m is nothing really just 4.47%

DO NOT PAY A DIVVIDEND UNTIL THE REMAINING DEBT IS PAID OFF...$425M LOST IN 2 YEARS CONSIDER WHAT IT WOULD HAVE BEEN WITHOUT THE $302M DIVIDEND & THE BRAMBLES FOLLY?

so AIO is down $425m & the ceo gets a $740,000 bonus plus hes lining himself up for 3,861,702 oppies at $1.52.what does that tell you about the people who run this company?

i might grab some soon just so i can march into MR'S office & demand his resignation due to fraud on shareholders & gross incompetence...

the attitude is mind boggling how can you justify paying out $302m when you cant make a profit...bottom line NPAT not the dodgy deal they are doing now...