The Age article said, “Great Southern spent almost $137 million on commissions, marketing and promotion in two years to 2008. … Great Southern paid commissions of up to 10 per cent.”
So, in 2 years to 2008, each accountant/financial planner got $137m/300 = $0.457m commissions from GTP.
The article also said, “By the time the company collapsed a week ago … 300 accountants and financial planners had signed on to sell the products, 240,000 hectares of trees had been planted …”
So, the total commissions GTP paid in the past on pulpwood schemes was 240,000*$9000*10% = $216m, or say $0.72m on average for each accountant/planner. Because the total sales of non-forest schemes was roughly about ½ of that of the forest schemes, on average each accountant/planner got more than $1m (!!!) commissions from GTP.
Congratulations to GTP for making 300 millionaires before collapse!!!
The Age article said, “Great Southern spent almost $137 million...
Add to My Watchlist
What is My Watchlist?