In a year of record low wage growth for workers, executives of Australia’s biggest companies received massive bonuses – just for doing their job
On Tuesday, the House of Representatives standing committee on economics will hold its first hearing on the performance of the big four banks and it is a fair bet that the pay of the executives who appear before the committee will be a topic of discussion.
In March, the insurance arm of the Commonwealth Bank was revealed in a joint sitting to have conducted unethical practices so bad that it gave impetus to the ALP’s call for a royal commissioninto the banks. It was a year in which the bank’s share price fell from $85.55 in June 2015 to $74.37 at the end of June this year. Continue reading...