Monday, September 17, 2012

Are our top bosses worth $90m?

Research finds BHP Billiton boss Marius Kloppers is the nation's highest-paid CEO, earning $11.8m last year.
Aquila Resources executive chairman Tony Poli. Source:Supplied
THE country's top 10 bosses earned almost $90 million last year, while the founder and executive chairman of a lowly miner received almost $170 million as its share price soared.
Aquila Resources' Tony Poli, who has an annual salary of $572,000, scored a mammoth $169.9 million pay packet, driven by share options granted in 2005 which rose to almost 14 times their original worth during 2011.
And almost 90 per cent of Australia's top 200 chief executives received bonus payments in 2011, despite falling profitability and widespread job cuts.
A new report from the Australian Council of Superannuation Investors shows executive pay is still rising but the rate of growth is slowing as board's lower bonuses to try and meet shareholder
The average bonus in 2011 dropped to $1.25 million its lowest level since 2004.
But angry shareholders are expected to use the coming AGM season to increase the pressure to directly link long-term bonuses to shareholder returns as part of a campaign to put greater scrutiny on fat cat wages as profits slip.
The ACSI report shows the biggest bonus was $3.3 million paid to Commonwealth Bank's outgoing boss Ralph Norris.
BHP Billiton chief executive Marius Kloppers was the top earner at more than $17 million in realised pay for 2011, which includes almost $12 million in share options and holdings.

Thursday, August 30, 2012

En modreaktion på janteloven

Magnus Reitan står i spidsen for 2500 kiosker og 7-Eleven butikker og er arving til et af Nordens største forretningsimperier, Reitangruppen, der omsætter for mere end 65 mia. kr. og beskæftiger godt 32.000 medarbejdere. 

Den danske del af Reitan Convenience tæller et par hundrede 7-Eleven butikker, der i år har fået vendt udviklingen og genererer et overskud på 20 mio. kr. 

Som det er sædvane, lægger han vejen omkring nogle af de danske butikker for at høre, hvad medarbejderne har at sige. Denne gang går turen til butikker i det indre København, og ved lejligheden lægger han ruten forbi Børsen.

"Vores filosofi er nok en modreaktion på janteloven. Den betyder, at vi har haft held med at tiltrække mange dygtige mennesker, som har lyst til at være del af et system, hvor man gerne må stikke ud og vise, at tingene kan lykkes," siger Magnus Reitan om virksomhedens ledelsesfilosofi, der bygger på tillid.

Wednesday, August 29, 2012

Send Us Your Hurricane Isaac Photos

Seven years after Hurricane Katrina devastated New Orleans, Gulf Coast residents are bracing themselves for Hurricane Isaac.

Forecasters predict up to 20 inches of water after the slow-moving storm makes landfall, which is expected to be in southeast Louisiana Tuesday night. Although the storm is not expected to make as much of an impact as Katrina, government officials in New Orleans suspended public transport and enforced mandatory evacuations in low-lying areas.

Gulf Coast residents started sharing snapshots of choppy waves, though the storm has yet reach its full strength. Instagram user Tracy Killen posted a photo of surf breaking on a beach, saying, “WOW – we are not even close to the eye of the hurricane, but we still have huge waves and no beach.”

SEE ALSO: Prepare for Isaac With Google Crisis Map

Are you there? We want to see it through your eyes. Show us what it really looks like in your neighborhood. Are you evacuating or riding it out? Snap pictures of what you’re doing to prepare for emergencies and what the water levels look like.

We don’t advocate putting yourself in harm’s way. If you are being advised to evacuate, please do so. But we also know that social media can provide a powerful look at the ground level — and we want you to help us see it.

Tuesday, August 21, 2012

Apple, Samsung CEOs talk, but fail to find a way forward in patent dispute




An out-of-court settlement in the billion-dollar patent infringement court case between Apple and Samsung always seemed unlikely, despite the presiding

judge, Lucy Koh, telling the two tech giants last week to talk at least once to try to reach some kind of agreement.

On Monday, it was confirmed in the San Jose courtroom that the two sides had indeed been in contact in the last few days. However, no progress was made.

“The CEOs did speak….There was no resolution,” Samsung attorney Kevin Johnson told Judge Koh.

This means that, as expected, the nine-person jury will get to deliver a verdict on the case. With closing arguments set for Tuesday, the jury should begin

their deliberations on Wednesday.

In the patent trial, Apple accuses Samsung of copying elements of its iPhone and iPad devices in the design of a number of its own smartphones and tablets,

including Samsung’s Galaxy range of mobile devices. The Cupertino company is pressing for a sales ban on these products, and is also fighting for monetary

damages.

Samsung, meanwhile, accuses Apple of infringing a number of its patents, including some linked to the way smartphones deal with email attachments, photos and

the playing of music files.

On Wednesday last week, Judge Koh, in a last ditch attempt to resolve the case without it going to the jury, told both sides, “It’s time for peace,”

urging them to meet outside the courtroom to try to find a resolution to the dispute.

But the chances of success were always slim. Apple boss Tim Cook and his Samsung counterpart, Choi Gee-sung, had already met once before, prior to the start

of the trial. That meeting, in April, also came to nothing.

Monday, August 20, 2012

LeBron James can approach Michael Jordan's level, Dwyane Wade says



 LeBron James, fresh off an MVP award, NBA title, Finals MVP and gold medal, isn't quite at Michael Jordan's level, teammate Dwyane Wade said—but he's not

far, either.

"Just watching LeBron play, I mean he's just playing at a different gear right now," Wade told the South Florida Sun Sentinel on Thursday. "That monkey is

off his back and now he's just playing basketball. I think we'll continue to see a better LeBron James—it's scary to say, a three-time MVP—than we've seen.
 "And it's because all he's got to do is play basketball now. He doesn't have to worry about what he hasn't done, even though it will always be something.

But he got the biggest one off this back. He played exceptionally well."

Wade, coming off arthroscopic knee surgery, also said that he'd be ready for the Heat's season opener against the Boston Celtics on Oct. 30 but might miss

the start of training camp.

Wade, speaking at his basketball camp, grew up in Chicago idolizing Jordan and didn't dismiss the comparison, which has followed James around for his entire

career.

"He's on that level," Wade said, "but he has a lot more to do to get there. I think he understands he has an unbelievable opportunity to be one of the

greatest to play this game. But that's when he gets done playing, he can say that.

"Right now, he has so much more to cover in his career. He's just getting started at the same time when Michael kind of just got started. We'll see how it

all shakes out. I hope it shakes out the same way. I'll be a very happy man."

Former Jordan teammate and longtime friend Charles Oakley, naturally, has a differing opinion.

“I don’t know why they started this, Jordan had six rings, LeBron has one, Jordan has six Finals MVPs, LeBron has one,” Oakley told the New York Post

earlier this week. “I think the better comparison is Kobe Bryant.

“They weren’t even talking about this a year ago. LeBron wasn’t in the picture last year, but now that he’s won a title and a gold medal he is? It’s

just more hardware, it doesn’t change the field.”

Friday, August 17, 2012

Lebanon Shiite clan says it abducted more Syrians



A powerful Shiite Muslim clan in Lebanon claimed Thursday to have captured more Syrian nationals in retaliation for the seizure of a family member by rebels in Syria this week.

Later in the day, the clan said it was calling off "military operations" and would halt abductions for now.

The abductions have raised concerns that Syria's civil war is spilling over into neighboring Lebanon, where deep rivalries have already erupted into deadly violence. Lebanon has its own bitter history of a 15-year civil war, an explosive sectarian mix and deep divisions between pro- and anti-Syrian factions – many of them armed.

In the U.S., State Department spokeswoman Victoria Nuland called on all sides in Lebanon to exercise restraint.

"We are deeply concerned about spillover from the Syrian crisis that could impact on the stability, on the sovereignty of Lebanon. And we fully condemn kidnapping as a tactic, obviously, " said.

"We welcome efforts by Lebanese leaders and security forces to try to calm the situation. ... This kind of violence that we've seen in Lebanon, violence we've seen with regard to Lebanese citizens is further to the damage that Assad is wreaking not only on his own country, but potentially on the neighborhood with his violence."

Already, the abductions have brought gunmen from both the Shiite and Sunni communities into the streets. On Wednesday, Shiite supporters of the al-Mikdad clan went on a rampage in a Beirut neighborhood, vandalizing dozens of Syrian-run stores. They blocked the road to the airport, setting tires on fire and wandering the road with guns. Travelers were forced to walk from their cars to the airport, and at least one flight was cancelled. The road only reopened early Thursday morning.
The tensions erupted again Thursday in the eastern Bekaa Valley, near the Syrian border. Masked men believed to be from the Bekaa town of Majdal Anjar – a Sunni stronghold – burned tires and set up roadblocks on the main highway leading to the Masnaa border crossing between Lebanon and Syria. They stopped cars going either way and checked passengers' IDs before deciding whether to let them pass, apparently looking for Shiites or al-Mikdad supporters.

In the nearby town of Chtoura, four gunmen abducted Syrian businessman Hossam Khasroum, pulling him from his car as he was driving and taking him to an unknown location, security officials said. Khasroum, the officials said, is known to be a support of Assad's regime.

In a separate incident, gunmen attacked a car driven by pro-Syrian Lebanese politician, Joseph Abu-Fadel, breaking his car windows with stones as he was driving to Syria. He and three others were slightly injured.

On Wednesday, armed members of the al-Mikdad clan said they had kidnapped more than 20 Syrian nationals and a Turk in Lebanon in retaliation for the abduction of their relative, Hassane Salim al-Mikdad, who was captured in Syria this week.

Rebels who kidnapped al-Mikdad claimed he was a member of the Shiite militant group Hezbollah, a staunch supporter of President Bashar Assad's regime. Hezbollah and his family deny this.

The conflict in Syria has a sharply sectarian tone.

The rebels are predominantly Sunni, whereas Assad and his inner circle come mainly from the Alawite sect, an offshoot of Shiite Islam. Similarly, Lebanon has had long rivalries between its own Sunni and Shiite communities. Throughout Syria's conflict, Lebanese Sunnis have largely been sympathetic to the Syrian rebellion, while Hezbollah – the main Shiite political power – has backed Assad.

Maher al-Mikdad, a family spokesman, warned on Thursday that "if anything happens to Hassane, we will kill the Turkish hostage we have and many others. But we will start with the Turks."

Speaking to The Associated Press, he said the clan has snatched more Syrians and warned that it would go on with further kidnappings until their clansman is released. He could not give an exact number but said the clan was now holding more than 20 captives.

Later, he announced that the clan had halted "military operations" and would not seek more captives for the moment.

Lebanon's government appeared largely unable or unwilling to stop the kidnapping spree and escalating violence. Hezbollah and its allies hold a majority in the Cabinet, which has adopted a policy of "disassociation" from the events in Syria, trying to remain neutral. Hezbollah critics say it is assisting Assad in moving the conflict to Lebanon to divert attention from the deadly civil war raging in Syria, which activists say has left 20,000 dead in 17 months.

The al-Mikdad family is a powerful Shiite Muslim clan that originally comes from the eastern Bekaa Valley, an area where state control is limited and revenge killings are common. Like most tribes in this area, they have their own militia, and security officials say many of its members are outlaws wanted on arrest warrants. The family's reach also extends to the capital.

A south Beirut neighborhood with strong al-Mikdad ties, Rweis, is often avoided by outsiders who fear any possible offense that could put them at odds with the clan. The al-Mikdad's power often put them at odds with Hezbollah, the main power broker in the area, although many observers believe the appearance of armed groups Wednesday claiming to be members of the "military wing" of al-Mikdad family could not have happened without at least tacit Hezbollah support.

The wave of hostage-taking prompted Gulf countries to call on all their citizens in Lebanon to leave immediately. Sunni regional powerhouses Saudi Arabia and Qatar, who back the Syrian rebels, were the first, followed by the United Arab Emirates, Bahrain and Kuwait.

Asked if the U.S was considering asking Americans to leave Lebanon, Nuland of the state department said the U.S. already had travel warnings for American citizens in Lebanon that were updated a month ago when violence started to spike. She said she had no information to share on any further notices at the moment.

Lebanon is a popular summer destination for Gulf residents trying to escape the searing heat.

Al-Mikdad backed off an earlier threat to abduct Gulf nationals. He said Thursday that only Syrians and Turks would be targeted.

"Our problem is with the Syrians who have abducted our son and Syrian opponents of the region," he said. "And why Turkey? Because Turkey is an operation theater for the Free Syrian Army," he added.

Turkey shelters thousands of Syrian refugees along with the leadership and members of the Free Syrian Army rebel group.


Thursday, August 16, 2012

Romney, GOP try for greater share of Hispanic votes




In the 25 years Maricruz MaGowan has been living in the U.S., the Maryland economist has never been able to understand why Democrats maintain such a tight

grip on the nation's Hispanic vote.
"I find it very difficult to understand why it is that we don't have more Hispanics voting for Republicans," said MaGowan, 49, a Bolivia native who is

volunteering for the campaign of presumptive GOP nominee Mitt Romney. "Our values are so similar to the values of traditional families in Latin America."

Marta Saltus, whose parents fled Argentina in the 1950s, is also volunteering for Romney's campaign and is equally confused.

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"We are all conservative — socially conservative, fiscally conservative — we believe in individual responsibility; we work hard; we don't want food

stamps," said Saltus, 46.

But yet, the disconnect between Republicans and Hispanic voters is one of the toughest challenges facing Romney. President Obama won the 2008 election partly

because he won 67% of the Hispanic vote, according to the Pew Hispanic Center. Obama is doing even better among Hispanics this time around in some polls,

including a 70-22 lead over Romney in a Latino Decisions poll released last month.

The Hispanic voting bloc is so crucial that the Republican National Committee dispatched Hispanic outreach coordinators to six swing states with the goal of

winning over Hispanic voters.

That outreach was on display recently in an office suite in Arlington, Va., where Romney volunteers gathered for a day of phone calls in the heavily

Democratic area. In one room, after a speech by Wisconsin Gov. Scott Walker, dozens of volunteers started cold-calling voters in the area. In another room in

the back of the suite, other volunteers — all bilingual — focused on calling Hispanic voters.

Focusing their conversations squarely on the nation's still-struggling economy and a national unemployment rate of 8.3%, the volunteers were encouraged by

the reception they were getting.

"We've had 42 months of unemployment over 8%. And for Hispanics, it's 2 points above that," said Luis Luna, 56, a Cuban-American who himself is unemployed,

despite graduating from the University of Maryland and holding a law degree from Georgetown University. "Invariably, people will say, 'It's not working now;

I think the Republicans will do a better job.' "

But polls indicate that something is still holding Hispanics back from swinging over to Romney en masse. Matt Barretto, co-founder of Latino Decisions, a

polling firm that studies Hispanic voters, said there are several reasons.

He said Latinos and Republicans do generally agree on many social issues, but Hispanics don't place as much emphasis on them when casting their vote. Barreto

said Romney is also missing the mark when talking about economic issues, with Romney pushing to cut taxes and lessen the role of government while Hispanics

generally support an active government helping to create jobs.

The most obvious miscue, Barreto said, came in Romney's first Spanish-language ad this year, which declares that the former Massachusetts governor would

begin dismantling Obama's health care plan on his first day in office. According to a January poll, 57% of Hispanics support the health care law.

"It's extremely good news and a positive development for the Romney campaign to be investing in Hispanic outreach," Barreto said. "But oftentimes, they don't

know what they're doing."

The issue of illegal immigration also becomes complicated for Romney.

GOP officials are quick to point out that immigration is not the main priority for Hispanics when casting their vote. Polls back that up, with the economy

their No. 1 priority, as it is for the country as a whole. And Romney volunteers say voters want to talk more about the economy than anything else.

"They don't really bring it up, and neither do I," Saltus said.

Barreto calls immigration a "gateway issue" for Hispanic voters — if a candidate is wrong on the issue, it's hard to listen to anything else.

"It makes it hard for the candidates to even get in the door," he said.

Romney took a hard stance on illegal immigration during the GOP primary. He called for more funding to secure the border with Mexico, pushed identity-

verification laws to keep illegal immigrants out of American jobs and endorsed the idea of "self-deportation," where laws make life so hard for illegal

immigrants that they choose to return to their home countries.

The issue becomes more prominent for voters who know, or are related to, an illegal immigrant. About a quarter of Hispanic voters know someone, or are

related to, someone facing deportation, and more than half know an illegal immigrant, according to a Latino Decisions poll conducted last year.

Despite those numbers, Romney volunteers said the issue rarely comes up when talking with voters.

Matthew Mirliani, a 19-year-old volunteer who will start studying at Dartmouth College this fall, has been knocking on doors, making phone calls and writing

op-eds on behalf of Republican candidates for months. When asked how voters respond to Romney's immigration record, the Mount Vernon teen spoke quickly.

"No one's talking about that," Mirliani said. "That's not the topic."