Post by dobbie on May 17, 2006 18:09:36 GMT -5
Macquarie Boss Spent $300,000 On The Toilet
Macquarie Bank CEO Allan Moss is disappointed with the $21.2million he earned in the year to March 31 2006. His salary amounts to just $40 per minute, compared to the rumoured $150 per minute earned in just two weeks by each of the two Beaconsfield mine survivors.
“It's disappointing, $40 doesn't go far these days” said Moss when quoted out of context. Moss makes do at just 1,100 times the average salary. He defends his inflated salary by pointing out that if everyone earned what he earned then a loaf of bread would cost approximately $5,000. "Noone can afford that" he said "except me".
A large part of the CEO's income came from performance bonuses, with Macquarie's earnings for the year totalling $916 million. Analysts believe the figure could have been higher if $300,000 of Moss's salary hadn't come from sitting on the toilet, assuming he spent 20 minutes per day there. This time could have been spent producing another $13m earnings for the bank, say time and motion experts, who recommend Moss works from his desk with a colostomy bag.
Macquarie Bank has halted share trading while the colostomy bag is fitted.
Macquarie Bank CEO Allan Moss is disappointed with the $21.2million he earned in the year to March 31 2006. His salary amounts to just $40 per minute, compared to the rumoured $150 per minute earned in just two weeks by each of the two Beaconsfield mine survivors.
“It's disappointing, $40 doesn't go far these days” said Moss when quoted out of context. Moss makes do at just 1,100 times the average salary. He defends his inflated salary by pointing out that if everyone earned what he earned then a loaf of bread would cost approximately $5,000. "Noone can afford that" he said "except me".
A large part of the CEO's income came from performance bonuses, with Macquarie's earnings for the year totalling $916 million. Analysts believe the figure could have been higher if $300,000 of Moss's salary hadn't come from sitting on the toilet, assuming he spent 20 minutes per day there. This time could have been spent producing another $13m earnings for the bank, say time and motion experts, who recommend Moss works from his desk with a colostomy bag.
Macquarie Bank has halted share trading while the colostomy bag is fitted.