Wednesday, 26 October 2022 10:00

Creaming it!

Written by The Hound

font size decrease font size increase font size
Print
Email

OPINION: This old mutt suggests that Fonterra farmers may well have been a little too distracted by a high payout this year to see - or even notice- the exploding salary at the co-op.

According to excellent analysis recently done by BusinessDesk's Jenny Ruth, the number of Fonterra executives earning over $500k a year fell by 12 in the last year to 96.

However, this followed a 35.7% increase in the same salary bracket a year earlier.

Meanwhile, during the past year 1,052 more Fonterra employees are now 'earning' $100k or more a year - taking the total to 8,440 people.

Ruth is scathing about this jump in the salary bill saying: "The Fonterra gravy train keeps chugging along as its farmers, who are supposed to own the joint, appear oblivious to how much of the cream they produce is being hijacked by the executives". Ouch!

More like this

Fonterra announces electrification plans

Fonterra has announced $15 million in investments in electrification projects across the North Island over the next 18 months.

Times have changed

OPINION: Back in the 1960s and '70s, and even into the '80s, successive National government Agriculture Ministers and Trade Ministers were at the top of the cabinet rankings.

Hallelujah moment

OPINION: The new Public Service Commissioner Sir Brian Roche has just had the hallelujah moment of the 21st century in his candid review of the NZ public service.

Waste-watch

OPINION: Media luvvies have pigeon-holed the Taxpayers Union (TPU) as some right-wing lobby, but as far as this old mutt can tell, the TPU focuses on shaming poor behaviour and wasteful spending by those that govern us, no matter who's in power.

Tariff risk

OPINION: Some commentators across the ditch reckon the second Trump administration's anticipated trade protectionism, coupled with China's economic fragility, poses a significant risk for Australia's agricultural export industries.

Featured

Forum to discuss Angus genetics and beef production

The Neogen World Angus Forum, a major event in global Angus beef industry, is set to return in 2025.

Animal welfare drives scientist’s research

Whatever an animal is raised for, it deserves a good life — and just as importantly, a “good death”.

‘Nanobubble’ trial trims irrigation water usage

North Canterbury dairy farmer and recently-elected deputy chair of DairyNZ, Cameron Henderson, is enjoying a huge reduction in irrigation water use after converting a pivot irrigator to drag perforated drip tubes across the ground instead of elevated sprinkler heads.

Editorial: Elusive India FTA

OPINION: Without doubt, a priority of the Government this year will be to gain traction on the elusive free trade deal with India.

Sport star to talk at expo

Rugby league legend Tawera Nikau is set to inspire, celebrate and entertain at the East Coast Farming Expo's very popular Property Broker's Evening Muster.