Eskom bosses paid huge bonuses

[bwana]

Well if anyone deserves it . . . .:rolleyes:

Jan 24 2008 02:09 PM
Cape Town - Top management at Eskom have been paid tens of millions of rands in bonuses, despite the power cuts and problems that have plagued the electricity supplier, says the Democratic Alliance.

...

Over this three-year period, Eskom's top management was paid a total of R143m, including R57m in bonuses.

...

Van Wyk said his party would submit a parliamentary question to establish how the bonuses were agreed on, and whether they were tied to any performance targets. (http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-24_2257927)

[ToxicBunny]

I have only one thing to say to this.

EVERY single one of those bonuses needs to be paid back, with interest. No questions, no fighting. They didn't deserve them and they must be taken back from them.

[The Cosmos]

i guess the money was loadshedded into their account. :sick:

[mac_mac74]

well the bonus's were paid from money meant for infrastructure investment, now these monkeys have eish spent it, they want to increase the price of electricity for the infrastructure and to maintain those bonus's.

[timgaul]

FIRE THEIR SORRY A$$E$! Loadshed Eskom management!

[gregmcc]

57m in bonuses!!! You freaking kidding me!

No wonder this place is being run into the ground - doesn't anyone questions this before they are paid?

[Skinner]

SA is wasted.

[The Cosmos]

Totally :sick:

[gregmcc]

Anyone got a link for the above statement?

[The_Librarian]

I have only one thing to say to this.

EVERY single one of those bonuses needs to be paid back, with interest. No questions, no fighting. They didn't deserve them and they must be taken back from them.

I totally agree - they have done NOTHING to deserve those fat bonuses.

[orin76]

Big companies nowadays are run by lawyers and bean counters who only car about year end profits.
The problem with Eskom, Telkom etc. is that their performance targets are not linked to sustainability, but instead are linked to the bottom line. As a manager, you get greater rewards for cutting maintenance and showing a saving than you do for having well maintained equipment and no savings. Revenue is easy to quantify, but the value of replacing equipment or maintenance is much harder to justify financially.

[Syndyre]

Big companies nowadays are run by lawyers and bean counters who only car about year end profits.
The problem with Eskom, Telkom etc. is that their performance targets are not linked to sustainability, but instead are linked to the bottom line. As a manager, you get greater rewards for cutting maintenance and showing a saving than you do for having well maintained equipment and no savings. Revenue is easy to quantify, but the value of replacing equipment or maintenance is much harder to justify financially.

Which wouldn't really matter if they weren't monopolies.

[daveza]

There are going to be a zillion claims against Eskom - which they will pay out of the money we pay them.

It should be paid from the bonuses - and when that is finished from their pension funds - and when that is finished, their homes , cars, etc etc.

No accountability means no responsibility.

[Robin Hood]

Seems like the poor gets poorer and the rich richer?

[Moederloos]

I have but one thing to say:

*** ***** ***** **** and ***** ***** *****!

***

[DJ...]

There are going to be a zillion claims against Eskom - which they will pay out of the money we pay them.

It should be paid from the bonuses - and when that is finished from their pension funds - and when that is finished, their homes , cars, etc etc.

No accountability means no responsibility.

Actually I believe that Eskom are not accountable for any claims against them regarding the loadshedding - regardless of the situation. Nor can you claim against your insurance policy for damages caused or loss of revenue. Eskom will be paying nothing to anyone as far as I have heard.

[ToxicBunny]

If Eskom aren't accountable, we'll make guavamint accountable.

Enough of this blame shifting in my opinion. One or the other is going to accept blame and pay the price for their incompetence.

[The_Librarian]

Blame shifting's gotta stop and somebody, somewhere, will have to take up responsibility.

I am not impressed.

[Syndyre]

Actually I believe that Eskom are not accountable for any claims against them regarding the loadshedding - regardless of the situation. Nor can you claim against your insurance policy for damages caused or loss of revenue. Eskom will be paying nothing to anyone as far as I have heard.

Apparently Eskom are legally liable if you can prove negligence, shouldn't be hard. :D

[Ozymandias]

Apparently Eskom are legally liable if you can prove negligence, shouldn't be hard. :D

'You can sue Eskom' (http://www.news24.com/News24/South_Africa/News/0,,2-7-1442_2256669,00.html)

[Syndyre]

'You can sue Eskom' (http://www.news24.com/News24/South_Africa/News/0,,2-7-1442_2256669,00.html)

Yeah that's it. :)

[Fudzy]

It'll be interesting to see what sort of bonuses these guys will get this year. Did anyone suffer problems of such great magnitude last year?

[marine1]

Typical, in this circus, the less work you do the more you get paid.

[Dmitrimm]

Any grassy knolls outside Microwatt Park?

[Moederloos]

Any grassy knolls outside Microwatt Park?

Watt - watt, huh, eish?

microeish park

[jsheed_sa]

Not trying to justify the huge bonuses but arent you all forgetting that Eskom did indeed notify govt of future power shortage and that Eskom did indeed want to build more power stations - govt denied them that option.

Eskom made an effort govt stopped them - why are you all blaming Eskom?

Thanks
J

[Moederloos]

Not trying to justify the huge bonuses but arent you all forgetting that Eskom did indeed notify govt of future power shortage and that Eskom did indeed want to build more power stations - govt denied them that option.

Eskom made an effort govt stopped them - why are you all blaming Eskom?

Thanks
J

And we have been told, continuously, that "it is not a capacity problem, but a maintenance one".

Besides, most of us, quite rightly, are blaming both parties.

[jsheed_sa]

And we have been told, continuously, that "it is not a capacity problem, but a maintenance one".

Besides, most of us, quite rightly, are blaming both parties.

The fact is if we had the stations eskom proposed we wouldnt really have a shortage or maintainance problem as they could work on Koeberg and have it repaired as it would not have to be in use.

I blame government 90% and maybe Eskom 10% for not being up to date with repairs.

Mostly govs fault though.

J

[Slooth]

Not trying to justify the huge bonuses but arent you all forgetting that Eskom did indeed notify govt of future power shortage and that Eskom did indeed want to build more power stations - govt denied them that option.

Eskom made an effort govt stopped them - why are you all blaming Eskom?

Thanks
J

Eskom supply another countries at no charge, they lied about that in the beginning and have stated that they will not stop supplying them either. Government apprently were told of a looming crisis and ignored it.

Personally I blame the token black appointments in eskom management and those in government that don't have qualification or the desire to manage things. That's my opinion.

[ToxicBunny]

I have heard the Eskom did tell guavamint about the problem, but were very happy when guavamint told them they couldn't build more stations, since of course building and maintaining stations is a PITA.

This is why I blame both sides equally, although I'm tempted to lay more of the blame at Eskoms feet for completely fscking incompetent damagement.

[schitz011]

Not trying to justify the huge bonuses but arent you all forgetting that Eskom did indeed notify govt of future power shortage and that Eskom did indeed want to build more power stations - govt denied them that option.

Eskom made an effort govt stopped them - why are you all blaming Eskom?

Thanks
J

Yes, Eskom did ask and they were denied the outlay.

HOWEVER, they KNEW that there would be supply problems, especially in the light that the ANC said no more power stations. So rather than Eskom passing the buck (i.e, we asked but were told no, so it's not our problem), they should have investigated ulterior ways to increase or supplement their capacity to supply power.

I blame both parties.