Risky business
OPINION: In the same way that even a stopped clock is right twice a day, economists sometimes get it right.
He tells yours truly that he was flabbergasted by the gall of the FMG board who, tucked away in the papers, are asking for a huge pay increase for directors.
It is asking for a 17% increase in the chair's annual stipend, up from $100k a year to $117,000 and an extra 26% for each director, jumping from $50,000 to $63,000 a year!
It reminds your old mate of the failed attempt by Beef+Lamb NZ earlier this year to increase director fees, which went down like a cup of cold sick with levypayers.
What is it with these people and always having their hands out for more director fees?
Read the room for pity's sake!
