The Art of the Australian Insult

Maybe we should pay peanuts
March 1, 2009, 6:22 am
Filed under: Business

Departing CEO of Telstra, Sol Trujillo, does not have many fans, judging by some of the responses to the news of his $11.1 million payout, in both the Sydney Morning Herald and The Australian:

“On Sol Trujillo’s watch I have received a written apology from Telstra for rudeness from his employees, another apology for stuffing up the renewal of priority assistance and a credit of $350 on my last bill to shut me up on another complaint I had to take to the Ombudsman.

Anecdotal evidence has it that $350 is the going rate for such hush money. For this he receives millions?”

Frank Catt South West Rocks

“Your report states that Sol Trujillo “earned” more than $33 million in cash and $5.6 million in shares. He may have been paid that; there is no way he could have earned it.”

Norman Emslie Dapto

“We should have paid peanuts.”

Tony Horan Strathfield

“ADIOS amigo, with our thanks for highlighting yet again the urgent need for action to be taken on exorbitant management remuneration. I know that your saddlebags on the burro will be bulging but can you throw the Telstra chairman across your lap as you disappear over the horizon?”
Mike Yalden
Kiama, NSW

SOL Trujillo’s legacy to Australia: 10,000 less jobs and consequently $500 million less going into the economy every year, $17.2 billion wiped off Telstra’s share value, $40 million going back to the US with the departing leader. Chief executives are committing fraud on the workers (and the people) of this country on a grand scale.”
Mark Pearce
Richmond, NSW

This reader of The Australian made a cogent observation:

“What delightful symmetry: during Sol Trujillo’s reign, Telstra’s market capitalisation has declined by 27 per cent while his remuneration has risen by 54 per cent.”
Michael D. Kellock
Foster, Vic

This writer is concerned about Trujillo’s impact on the Australian national self:

WHEN will company leaders realise that Australians have an intense dislike of chief executives grabbing millions on their way out? There is no justification for it, it is immoral, unethical, and since chief executives’ and directors’ fees are “self granted”, it is bordering on theft. We no longer want or need “bright sparks” from overseas who come for a few years, create havoc, often run the business down and then exit with a multi-million-dollar good-bye package.

It is greed and selfishness on a grand scale, with no relation to the concept of an “honest pay for an honest day”, and is totally against our underlying culture of mateship.”

D. Sarre
Beaumont, SA


1 Comment so far
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Bob Carr got a nice fat paycheck and a cushy job with Mcquarie bank upon his exit as NSW Governor. Lets not forget that its just not corporate ceo’s giving themselves a handout of the booty and realize this is nothing new.

Comment by mike

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