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| Thread ID: 129385 | 2013-02-21 05:17:00 | Solid Energy...Worthless? | ruup (1827) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1329323 | 2013-02-21 05:17:00 | Solid Energy...Worthless? CEO worth $1,000,000 per year ? Tax payer bailout ? Not worth a cent ? Why to go boys...how much is the golden handshake ? ... really he should be given a 'Golden Shower' |
ruup (1827) | ||
| 1329324 | 2013-02-21 06:28:00 | A West Coaster may feel it to be worth something. Elder ran it into the ground though, no doubt about that. Him and those other big city wide boys should be up against the wall. Criminals. :( |
KarameaDave (15222) | ||
| 1329325 | 2013-02-21 06:29:00 | I'm quite sure the Greens and the left will be happy if Solid Energy goes bankrupt with the lose of 1200 jobs. To them coal is worse that Uranium.. | paulw (1826) | ||
| 1329326 | 2013-02-21 18:47:00 | For a start they should get that bonus back from the Elder guy. (but he was trying to diversify it a bit) Unfortunately most of our coal is in deep mines which makes it more expensive than open cast mines. And with the world decline in coal prices And our high wages (trying to sell to low wage countries) And our high dollar These factors have all combined to create this situation. But it seems the board did not do enough when things started to go wrong. |
Digby (677) | ||
| 1329327 | 2013-02-21 21:03:00 | Greed and mismanagement,looks like a farce to me... 'In a decade, the board's pay rose from $200,000 to $360,000 – a 80% increase, twice the increase in household incomes over the period. The CEO is worse: with pay rising from $380,000 in 2002 to $1,350,000 in 2012 – a 255% increase. The number of Solid Energy employees earning more than a Cabinet Minister rose from 6 in 2002 to 39 in 2012 (a further 250 were paid more than an ordinary MP). Just those 39 and the board were paid $15.5m a year – the equivalent of 310 average wages.' Looks like we paid **** loads,but still got monkeys.... And it's not all about the price of coal falling,coal is always fluctuating in price. |
ruup (1827) | ||
| 1329328 | 2013-02-21 21:09:00 | Yes, Elder and the shiny arses get paid plenty while mismanaging the thing into the ground. Sounds a bit like the Dear Leader and our criminal gummint to me. Up against the wall with the lot of them I say. |
KarameaDave (15222) | ||
| 1329329 | 2013-02-22 15:16:00 | Never fear. The bonuses will be funded from the additional fines on the partners of benefit fraudsters. | Blue Druid (4480) | ||
| 1329330 | 2013-02-22 17:45:00 | There are three issues here 1 The future of Solid energy and coal mining in NZ Unfortunately coal is not a "popular" industry (long term it must have a future but with fracking maybe not ? Unfortunately most of our coal in in underground mines which are not cheap. We are in a high wage country making our exports of coal more expensive than Indonesia etc 2 The incompetent and overpaid board and CEO Obviously they were incompetent and overpaid I agree, but complaining about that won't help fix the problem we have right now I'd like to know why they kept mining when demand was falling and GFC has got steadily worse and as they saw mines shutting down in Australia every day. But maybe Don Elder was being visionary and "green" in trying to find new areas to work on, if they had succeeded he would have been a hero. 3 Would you bail them out ? If you were the government would you bail them out. How long will it be before coal prices come up again. Would you tell them to shut all the uneconomic mines ? Would you tell them to stop mining for a while and just keep the mines operationally ready Or would you keep them going as those men going on the dole and the loss of their wages into those local economies is better. |
Digby (677) | ||
| 1329331 | 2013-02-22 19:01:00 | The majority of the coal that is mined here in Buller by Squalid Energy, goes into making steel. It comes from an opencast mine, Digby. With growth in China picking up again, demand will hopefully soon be there again. That leaves our exchange rate as the main issue. Oh, and the human overburden that is (mis)management. |
KarameaDave (15222) | ||
| 1329332 | 2013-02-22 19:32:00 | Yes, Elder and the shiny arses get paid plenty while mismanaging the thing into the ground. Sounds a bit like the Dear Leader and our criminal gummint to me. Up against the wall with the lot of them I say. What surely not John ill Key dictator general of this fair and clean land :o |
gary67 (56) | ||
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