Did anyone else notice this little gem from Telstra's in house spruiker Now We Are Talking? I took a screen cap and I think that like all good examinations, the answer can be found on the test paper.
When SOl Trujillo leave the office of CEO of Telstra, he leaves behind a trail of unhappy workers, unhappy shareholders and an unhappy government. Or rather he doesn't leave behind 10,143 who have had their jobs axed under his tenure, but when he does leave in July, he will expect a payout of about $30 million. Weird isn't it?
Apparently this is all based on performance bonuses. What does performance actually entail? Doing a good job?
Not according to the 66% of institutional and retail shareholder who voted against the phone company's remuneration report at the annual general meeting in Sydney. Following that vote, Telstra chairman Donald McGauchie declared the board would ignore its shareholders wishes and would continue to pay executives under the package regardless. Well done.
Also well done to the same board who managed to erode the company's share price from $5.03 to $3.68. If you did happen to buy into T2 then sadly, you've been shafted, and it doesn't take an idiot to work out where that money went either.
http://www.abc.net.au/news/stories/2009/02/26/2502277.htm
Sometimes it is said that an organization reflects the character of its leader or vice versa. Is this true for Sol? Mr Trujillo will be remembered for fighting the ACCC, fighting sucessive Liberal and Labor Governments, and putting together a really pathetic bid for what should have been a massive broadband project which I might add Telstra was screaming for via the "Broadband Australia Campaign".
So perhaps inadvertently Now We Are Talking may have been finally what another website has been asking them to do. Though it does pose quite a pert question:
What is wrong with Australia? Sol Trujillo.
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