One would think that large corporate salaries are justified by finding solutions and outcomes.
The long term future of this company is resting at the feet at the ACCC and the government. The slow moving tsunami (east coast gas prices) have been rolling into the shore for years. Jeanne Johns etal have had the deckchairs spread out on the beach enjoying the sun, sipping on the pina colodas.. Now she's shouting out to the lifeguards asking for a bit of assistance. Has there been any preparation here? Where's the justification for the large corporate salaries? A weekly white flag in The Australian and Financial Review?
Here's hoping a shake up at Board level, this company has too much of a proud history to be run like this - the backers of the raise will be expecting a return on their investment.
Oh, and if the government step in to help, will Incitec be reducing the cost of their fertilser and chemicals to assist farmers and other consumers?
IPL Price at posting:
$2.08 Sentiment: Hold Disclosure: Not Held
(20min delay)