ETC – AUSTRALIA

Shareholders target Voelte in Nexus bid

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Original article by Matt Chambers, Sharri Markson, Leo Shanahan
The Australian – Page: 23 : 12-Nov-14

Conglomerate Seven Group Holdings plans to take over Nexus Energy for $A180m, following the latter’s collapse after its board rejected an offer by Seven worth just $A0.02 a share. The fact that Seven CEO Don Voelte also had the role of chair at the gas group has sparked complaints by Nexus investors to the Australian Securities & Investments Commission. Legal action is being launched by stockholders such as Bechtel CEO Andrew Greig, ­Liberal Party president Richard Alston, Karoon Gas executive chair Bob Hosking and Michael Fowler, another ex-Nexus chair

CORPORATES
NEXUS ENERGY LIMITED – ASX NXS, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, KAROON GAS AUSTRALIA LIMITED – ASX KAR, BECHTEL PTY LTD, LIBERAL PARTY OF AUSTRALIA

Public servants offered 0% pay rises

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Original article by Markus Mannheim
The Sydney Morning Herald – Page: 12 : 6-Nov-14

The Australian Crime Commission and the Australian Research Council are among the Federal Government agencies that are seeking to exclude staff pay rises from new enterprise agreements. Given that inflation is forecast to be between 2.5 and 2.75 per cent annually, these staff face the prospect of effectively having their pay cut. Military personnel have been offered a pay rise of 1.5 per cent

CORPORATES
AUSTRALIAN CRIME COMMISSION, AUSTRALIAN RESEARCH COUNCIL, AUSTRALIAN PUBLIC SERVICE COMMISSION, COMMUNITY AND PUBLIC SECTOR UNION

Toughen up on teacher training, uni heads warned

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Original article by Justine Ferrari
The Australian – Page: 4 : 6-Nov-14

John Hattie, the new chair of the Australian Institute for Teaching & School Leadership, supports a more stringent accreditation process for the country’s 400 teaching courses. Hattie notes that there is a 30 per cent over-supply of teachers in some areas. He suggests that culling courses could result in better-quality degrees. Hattie has drafted a new direction for the Institute, which accredits courses for public school teachers. It reflects the Australian Government’s policies to improve teaching quality

CORPORATES
AUSTRALIAN INSTITUTE FOR TEACHING AND SCHOOL LEADERSHIP LIMITED, AUSTRALIA. DEPT OF EDUCATION, STANFORD UNIVERSITY

Tubs of joy: Australians still love ice cream

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 29-Oct-14

A Roy Morgan Single Source survey has found that 73 per cent of Australian grocery buyers purchased a tub or carton of ice cream at least once in the year to June 2014. The survey also shows that 19 per cent of Australians purchase ice cream in tubs or cartons once a month, while just three per cent do so every week. Some 20 per cent of grocery buyers purchase Bulla ice cream in an average four weeks, followed by Peters (17 per cent) and Streets (12 per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, REGAL CREAM PRODUCTS PTY LTD, PETERS ICE CREAM, UNILEVER AUSTRALIA LIMITED, COLES GROUP LIMITED, CONNOISSEUR

CBA slip to hit management pay

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Original article by James Eyers
The Australian Financial Review – Page: 21 : 22-Oct-14

A new survey by Roy Morgan Research shows that the Commonwealth Bank’s overall customer satisfaction rating has fallen by one per cent to 81.1 per cent. Meanwhile, Westpac’s rating has risen by 1.1 per cent to 81 per cent. The Commonwealth Bank has also fallen further in Roy Morgan’s measure of customers’ satisfaction with their main financial institution, ranking behind Westpac and the ANZ Bank. The Roy Morgan customer satisfaction data is used in determining Commonwealth Bank executives’ long-term incentives

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ROY MORGAN RESEARCH LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH FINANCIAL PLANNING LIMITED, FINANCIAL WISDOM LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, DBM AUSTRALIA LIMITED, WEALTH INSIGHTS PTY LTD

Medibank sale to triple George Savvides’s pay with big bonuses

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Original article by Patrick Durkin
The Australian Financial Review – Page: 6 : 21-Oct-14

Medibank Private MD George Savvides will receive a huge pay rise when the company floats on the Australian stock exchange on 25 November 2014. His remuneration will triple from $A1.2 million to $A3.99 million. Savvides’s contribution to the IPO will deliver a bonus of $A750,000 for him, which some analysts believe is excessive

CORPORATES
MEDIBANK PRIVATE LIMITED, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, OWNERSHIP MATTERS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AURIZON HOLDINGS LIMITED – ASX AZJ, NIB HOLDINGS LIMITED – ASX NHF, RAMSAY HEALTH CARE LIMITED – ASX RHC, SIGMA PHARMACEUTICALS LIMITED – ASX SIP

Trilogy takes action against KPMG, partner

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Original article by Sarah Danckert
The Australian – Page: 18 : 2-Oct-14

A lawsuit is being launched by Trilogy Funds Management against KPMG partner Jillian Richards, as well as the accounting firm. They are accused of unconscionable, misleading and deceptive conduct, in relation to the City Pacific First Mortgage Fund. Trilogy assumed management duties for the entity when parent City Pacific collapsed in 2008-09, and claims that KPMG performed a flawed audit. However, no action over the affair has been taken by the Australian Securities & Investments Commission

CORPORATES
TRILOGY FUNDS MANAGEMENT LIMITED, PACIFIC FIRST MORTGAGE FUND, CITY PACIFIC LIMITED, KPMG AUSTRALIA PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Borghetti beats Joyce on pay

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Original article by Steve Creedy
The Australian – Page: 23 : 1-Oct-14

Figures on the remuneration of leading executives at airline Virgin Australia show that CEO John Borghetti was paid a base salary of $A1.67m in 2013-14. This is less than the $A2.05m for Alan Joyce, his counterpart at main rival Qantas Airways. However including incentive awards, Borghetti’s overall package increased 4% year-on-year to reach $A2.78m. The respective underlying losses before tax of Qantas and Virgin for 2013-14 were $A646m and $A212m

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, QANTAS AIRWAYS LIMITED – ASX QAN, VELOCITY FREQUENT FLYER PTY LTD

Austerity drive drops Mackenzie to $9m

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Original article by Barry FitzGerald
The Australian – Page: 20 : 26-Sep-14

BHP Billiton’s 2014 annual report reveals that CEO Andrew Mackenzie received total remuneration of $US7.98m ($A9.06m) in 2013-14. This compares with the $US15.99m paid to his predecessor, Marius Kloppers, in 2012-13. The resources group has also advised that executives will receive no increase in their base salaries in 2014-15, while the annual report does not outline the likely effect that spinning off non-core assets will have on its executives’ salaries

CORPORATES
BHP BILLITON LIMITED – ASX BHP

Top 100 company CEOs now scraping by on $4.8m a year

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Original article by Andrew White
The Australian – Page: 17 : 18-Sep-14

The Australian Council of Superannuation Investors has released data showing that the CEOs of Australia’s top 100 companies received an average salary of $A4.84m in 2013. The remuneration of CEOs has fallen to its lowest level since 2003, although it remains 63 times average earnings. The survey, which was carried out by Ownership Matters, also shows that termination payouts for CEOs averaged $A1.83m in 2013, compared with $A3.8m in 2008

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, OWNERSHIP MATTERS PTY LTD, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, CSL LIMITED – ASX CSL, WESTFIELD CORPORATION – ASX WFD, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ