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What corporate business behaviours are criminal ?
Recently in Australia the chief executive of a National clothing icon, Pacific Brands, provided herself a 170 per cent pay hike and then sacked 1800 before moving the manufacturing to China.
It was revealed that the total remuneration for Pacific Brands' 13 directors more than doubled last year as the company planned to sack more than 1800 workers.
Chief executive Sue Morphet's pay jumped from $685,775 to $1.86 million , whilst the share price and profitability crumbled.
What corporate business behaviours are criminal. These and others ?
2 Answers
- 1 decade agoFavorite Answer
This is how business usually works.
The ceo was allowed such a huge raise in pay because the shareholders allowed it... And the 1800 workers who were laid off could not manufacture the goods for cheaper then they could in China.
The shareholders would allow this to happen in order to save costs, and would be more then happy to pay the CEO a bonus for this strategic money saving maneuver.
As a shareholder in the company, you just saw your cost of doing business shrink by who knows how much, probably 80%. So if you sold surf TShirts for $20, and it costs $5 to make, and Now with this change, you still sell them for $20, but it costs $1 to make...
If the company popularity drops and the company fails, the executives don't care because they already got their money.
Source(s): Owner of A Corporation. - blumLv 45 years ago
i think of is mandatory to bail out wall highway,through fact the yankee economic gadget run on monopoly funds,to illustrate,a loan is bought and resold with nohing to subsidized upIt is critical that human beings get loans,automobiles,properties and others.
