Sunday, October 24, 2004
Massive James Hardie payout
James Hardie has just paid an individual $9 million.
It didn't go to an asbestos victim though - it went to CEO Peter Macdonald.
To pay any CEO $9 million is excessive. To do so while current compensation for asbestos victims is inadequate is callous. But to pay that much money when they were guilty of misleading and deceptive conduct? Simply unbelievable.
Unless a very large cheque comes the way of asbestos victims soon, I hope Peter is unemployed until the day he dies.
It didn't go to an asbestos victim though - it went to CEO Peter Macdonald.
To pay any CEO $9 million is excessive. To do so while current compensation for asbestos victims is inadequate is callous. But to pay that much money when they were guilty of misleading and deceptive conduct? Simply unbelievable.
Unless a very large cheque comes the way of asbestos victims soon, I hope Peter is unemployed until the day he dies.
