Category: Corporate Games

Harvey Norman: longest running chairman Gerry Harvey doesn’t disappoint

Gerry Harvey

Harvey did respond to the next question regarding whether the company had returned the $22 million in JobKeeper payments it took in 2020. “Yes,” he said, however the last notice that the company gave to the ASX regarding JobKeeper repayments was in August last year.

The company revealed it repaid $6m in JobKeeper wage subsidies after recording profits in the 2020-21 financial year and has yet to make a subsequent announcement regarding the remaining $16 million. MWM has reached out to confirm.

Source: Harvey Norman: longest running chairman Gerry Harvey doesn’t disappoint

Iron Mountain CEO Says He’s Been “Praying for Inflation”

The CEO of Iron Mountain Inc. told Wall Street analysts at a September 20 investor event that the high levels of inflation of the past several years had helped the company increase its margins — and that for that reason he had long been “doing my inflation dance praying for inflation.”

Source: Iron Mountain CEO Says He’s Been “Praying for Inflation”

Qantas boss Alan Joyce paid $2.2 million despite carrier’s struggles

Qantas chief Alan Joyce pocketed $2.17 million and more than 600,000 performance share rights this year.

The round table keeps on passing it around win or lose

Qantas chairman Richard Goyder has moved to defend the airline’s chief executive Alan Joyce after the carrier revealed he received a pay increase and bonus shares worth millions last financial year despite widespread customer service problems that have infuriated passengers.

Source: Qantas boss Alan Joyce paid $2.2 million despite carrier’s struggles

Lufthansa paid back its debt, Qantas bought its own shares – Michael West

Alan Joyce, Qantas

But the biggest scam came last week when Qantas handed down its profit results and declared a $400m share buy-back. The board apparently deems it okay for Alan Joyce and co to spend the airline’s excess cash – publicly subsidised cash – not on disaffected workers, not on tax, not paying back subsidies, not on services for customers but on … drumroll, buying its own shares in order to prop up the stock price and lift executive bonuses.

Source: Lufthansa paid back its debt, Qantas bought its own shares – Michael West

Corporate chiefs warn net zero laggards – Michael West

Much of corporate Australia is outdoing the government on climate ambition but some have little more than motherhood statements and no firm plan to achieve net zero, a business forum has been told.

Corporate chiefs warn net zero laggards – Michael West

Don’t Believe a Corporation That Promises to Do Better

Corporate responsibility pledges are an increasingly common response to public scrutiny. But trusting private companies to keep their promises hasn’t worked in the past, and it won’t work in the future.

Source: Don’t Believe a Corporation That Promises to Do Better

Riches for Australian miner equals misery for Thai villagers – Michael West Media

Kingsgate, ISDS

Pirates with Confected Rights have no concern for people

A Thai gold mine owned by Australian company Kingsgate has been accused of creating “deserted villages with broken families”. It was closed by the Thai government, but an obscure clause in a “free trade” agreement has allowed the lucrative mine in Central Thailand to reopen. Tim Ginty reports.

Source: Riches for Australian miner equals misery for Thai villagers – Michael West Media

If CEOs Really Want to Stop GOP Attacks on Voting, Say Progressives, They’d Support the For the People Act | Common Dreams News

A man wearing a mask walks past a "vote to exist" sign displayed on the windows of Kenneth Cole on September 22, 2020 in New York City. (Photo: Alexi Rosenfeld/Getty Images)

“While it’s great that these executives and their companies oppose the Jim Crow-style laws that GOP lawmakers are pushing across the country, this kind of talk is cheap without action.”

Source: If CEOs Really Want to Stop GOP Attacks on Voting, Say Progressives, They’d Support the For the People Act | Common Dreams News

Gloria Jeans, Donut King owner’s shares dive after secret deal revealed

When Corporate Ddecption is no Exception

Shares in troubled franchisor Retail Food Group have been smashed for the second day in a row after it was revealed the company had a secret deal with a former staff member to manage stores.

RFG’s shares tumbled as much as 13 per cent in early trade on Tuesday after Fairfax Media reported that the listed franchising giant had not told shareholders about the deal between itself and a company run by Alicia Atkinson, RFG’s former bakery cafe director and the partner of RFG’s former longstanding boss Tony Alford.

via Gloria Jeans, Donut King owner’s shares dive after secret deal revealed