View Full Version : 2005-02-18/These guys get the big bucks
...
We examined 36 of South Africa's biggest companies and found the top earners to be entirely male and almost entirely white. Among them:
# Steve Ross of Edcon (which owns Edgars, Jet and Sales House) made more than R42-million last year.
# Mark Lamberti of Massmart (owner of Makro and Game) made R36,2-million.
# David Sussman of JD furniture managed a mere R14,5-million.
The only two black executives in the list for last year were Sizwe Nxasana of Telkom (R11-million) and Phutuma Nhleko of MTN (more than R19-million).
... (http://www.pretorianews.co.za/index.php?fSectionId=270&fArticleId=2416109).
I would bet that not a single one of these specimens, irrespective of their gender or colour group, would survive managing their own operation. The point being that these corporate types make their millions primarily through other people, with their income based on performance of the organisation, not on their individual performance. Sure, one may argue that their primary purpose is exactly that, viz. performance through people and strategic leadership, but so did most of the morons of history...
Yep, isn't it akin to rewarding a dictator for their dictatorship? - no effective dictatorship survives without the worker ants that actually enforce the rule of the dictator & keep the regime from being overthrown.
Hi MBS
Correct! About these workers: "When compared with the average minimum wage of R2 000 a month, it seems the average worker has to work more than 100 years to get paid what an executive director receives in a year."
The tragedy is that this type of thing does absolutely nothing for societal progress in a broader sense - in fact, it causes more turmoil than anything else, witness the agitation of unions, wildcat strikes, the spontaneous eruption of disaffected communities, and so on. I believe it also pertinent to note that a number of companies experienced improved performance due to the strength of the Rand, and not necessarily because of the performance of the company and its executives. In hindsight, shareholders and worker-level employees should start agitating, to rein-in executive remuneration based on opportunity factors of this nature...
kilps
21-02-2005, 08:28 AM
Errr - What do you do with that much money? Oh yes - buy like, 50, ADSL accounts so you don't reach the cap
stoke
21-02-2005, 08:32 AM
Your survey does not show those people gaining big bucks, but not in money, noooooo, in assets and other company material and benefits effectively hidden from us and mr taxman.
All you are seeing is the honest joes.
rabbiddog
21-02-2005, 08:35 AM
Earning big money in thend means nothing. Its what you do wih it that counts. I dont think those asses help anyone.
Man anyone can run a company which rakes in billions just on its own. No intervention from bigwig required.
Take Telkom for example - is it's success attributable to $izwe Nxa$ana? Noooo man, it's communications, everyone needs it, its making money off a human right. The other companies mentioned there at least have some competition tho, so their remuneration is more fitting.. poor $izwe must be so jealous.. poor chap.