ripping off the public …

What is it about civil servants and their family connections. Ripping off the public and the employees, such that 900 are about to lose their jobs. This ‘fat cat’ is just the tip of the iceberg.

On the ABC 7.30 Report on  (Wednesday 23 December 2015) during the segment with Malcolm Turnbull, who was explaining why this increase to $1 for a stamp was necessary.  He never mentioned anything about this eye-opener below.

 

Australia Post

Recently Australia Post which is totally Government owned and has been for 200 years, announced the loss of 900 jobs, being part of a cut back program.

This is due to the decline in letters beings sent and that’s true as email has further reduced letter writing and in many ways understandably.

The CEO of Australia Post is Ahmed Fahour who was born in Lebanon and came to Australia in 1970.

In 2009 he was made Managing Director and CEO of Australia Post.

His salary package was estimated to be worth $4.8 million last year.  Of this he donated about $2 million to the Islamic Museum of Australia located in Melbourne.

I have a big problem with this fellow’s salary package and so let’s get some perspective here.  The top ten executives in Australia Post combined earn around $20 million each year.  That’s simply immoral and clearly the CEO can afford to give away nearly half his takings to an Islamic Museum as he doesn’t need it, and surprise, surprise ….  it’s tax deductible.

The founder and Director of the Museum is former Macquarie Bank executive, Moustafa Fahour – Ahmed Fahour’s brother.

Moustafa’s wife, Maysaa, is the chairwoman and Director.  The Fahours’ sister, Samira El Khafir, is Head Chef and manages the restaurant onsite.

How can the CEO of the Post Office earn so much,  especially when the postal service is bleeding money from letter delivery.  No employee is worth 5 million a year and especially not from a government=owned business.

The top Federal Public Servants in Australia have salaries of between $665,600 and $844,800 so how does the bloke in charge of the Post Office received $4.8 million?  The Prime Minister of Australia earns a modest $507,000 considering the real burdens of office, while the CEO of the Gold Coast Council earning slightly less and that’s patently out of kilter with the PM’s package.  The Mayor of GCCC brings in $225,000 so how on earth can the Post Office justify the massive pay of their CEO?

Let’s look further.  The head of the US Postal Service with 19 times more staff and 11 times more revenue than Australia Post receives $550,000.

In France the head of their Post Office was paid $1.1 million with a staff compliment of 268,000 employees.

What a country full of mugs are we to sit by and let all this happen??  I would have run the big game of Post Office for a lot less and still done a reasonable job and in fact,  if the best of we seniors applied ourselves we could run the damn Post Office better and accept a normal salary and a free lunch now and again.

You had better believe it too.

There is an unpleasant and some would say ‘sinister’ unbalanced agenda in Australia, which in the end preys on the average citizen, we the people.  We are no longer the lucky country and we are no longer wealthy and this particular game of Post Office reveals major fractures and faults on a number fronts in our society and culture.

Who is running the Country?  Who is pulling the levers? And who is going to win?  We, the Mugs, need to know.

It’s not restricted to the bureaucracy either. The owners of Dick Smith electronics are equally, if not more culpable in the situation Dick Smith finds itself today, in financial administration pending sale, or their demise.

For the Dick Smith Watchers, someone knew months ago they were in strife:

Forager takes a look at how Anchorage managed to sell Dick Smith for $520m after purchasing for $10m.
foragerfunds.com

 Update on the CEO of Dick Smith’s:

How Nick Abboud partnered with private equity to turn Dick …

Sep 5, 2014 – Speaking at the Australian Private Equity and Venture Capital Association (AVCAL) Alpha conference in Melbourne on Thursday, Nick Abboud …

Nick Abboud owns a $5million waterfront mansion in Sydney.

About Tom Harley

Amateur ecologist and horticulturalist and CEO of Kimberley Environmental Horticulture Inc. (Tom Harley)
This entry was posted in Oz politics, Resources and tagged , , , , , , . Bookmark the permalink.

One Response to ripping off the public …

  1. Another Ian says:

    I’ve thought for a while that Australia Post was on the wrong side of the Laffer Curve

    https://en.wikipedia.org/wiki/Laffer_curve

    Sign of the times – I have already been asked (since the rise) by one local business if they could go email accounts to save on postage and expect more.

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