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Barnett Could Hamper Woodside Gas Project »

By Srecko.Krestic on Sep 5, 2010 in Australia, Business News, Featured

The Kimberley Land Council has cautioned that the support extended by the traditional owners for Woodside’s $30 billion gas project might get submerged.

The Kimberley Land Council has been a major supporter of the project as it aimed to boost the job scenario, and take health, housing and education services to the remote areas, as well.

The main reason for their back out, if it happens, would be West Australian Premier Colin Barnett, who is one of the main supporters.

Last night, the KLC is reported to have claimed itself as befuddled.

Butler, who is spearheading the country agitating against the project north of Broome, yesterday cited that a severe community backlash could be triggered over the Barnett revelations.

In addition, he outlined that Kimberley law man Joseph Roe, whose divisive court action against the KLC resulted in its negative relations with the Government, was present at its concerts.

On behalf of the traditional owners, the KLC underwent an in-principle agreement with Woodside and the Government, in 2009. However, the entire process witnessed a setback, when Mr. Roe landed the KLC to the federal court, saying that the traditional owners are the ones who have the official right to sign the agreement and not KLC.

Qantas Chief Alan Joyce to Receive a 20% Cut in Salary »

By Pavle Hanak on Sep 5, 2010 in Australia, Business News, Featured

Qantas recent attempt to lower the pay package of his chief by over 20% from the last financial year’s pay has landed it in the list of the public Companies reflecting their inhibition over the salaries of their executives.

Alan Joyce, Qantas chief’s salary has been cut to $2.92m from $3.66 million that was being paid in 2008-09. Despite the management recording a robust performance compared to other airlines worldwide by boosting its pre-tax profit in jittery trading scenario, Mr. Joyce was kept away from his cash bonus for the second straight year.

However, the base salary offered to Virgin Blue Chief John Borghetti, stands at $1 million.

The main trigger of the cut is the decrease in the Company’s long-term benefits to $49,000 from $529,000. In addition, Qantas’s share-based payments have fallen to $964,000 from $1.25m.

Qantas’s latest pay card reflects that the board will never think of recalling the preceding two years, when over 40% of its shareholders stood against its remuneration reports.

“While the board considers that management demonstrated strong performance in achieving these outcomes it is also mindful that no dividend was paid during 2009-2010 and that earnings for the Qantas Group remained lower than in some recent years”, the Company’s annual report posted.

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