ETC – AUSTRALIA

Online journos second-class no longer after win

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Original article by Ewin Hannan
The Australian – Page: 6 : 22-Nov-19

The Fair Work Commission has ruled that journalists who work for online-only news publications are covered by the media industry award. The FWC found that minimum employment conditions of these journalists are ‘significantly inferior’ to those of their print peers. Daily Mail Australia has warned that extending the coverage of the Journalists Published Media Award to digital media workers will result in higher wage costs, and its existing operating model may need to be revised if it has to pay weekend penalty rates.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, DAILY MAIL AUSTRALIA, GUARDIAN AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, RURAL PRESS LIMITED, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE

BHP’s new CEO Mike Henry vows to accelerate productivity push

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Original article by Nick Toscano, Colin Kruger
Brisbane Times – Page: Online : 14-Nov-19

BHP CEO Andrew Mackenzie will step down at the end of 2019 after more than six years in the role. He will be succeeded by mining industry veteran Mike Henry, who will receive a base salary of $US1.7m ($2.5m). Henry, who has been the head of BHP’s Australian minerals division since 2016, says he will spend the next 45 days holding meetings with BHP staff across its global operations. Henry was regarded as a leading internal candidate to succeed Mackenzie.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Matildas have AFLW to thank for pay parity

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Original article by Michael Bailey
The Australian Financial Review – Page: 7 : 7-Nov-19

Deakin University’s Professor David Shilbury says the success of the women’s Australian Football League was a major driver of the pay-parity deal for the national women’s soccer team. He notes that negotiations over new pay deals for female cricketers and soccer players only made progress following the AFLW’s launch in 2017, which provided those sports with competition for female athletes.

CORPORATES
DEAKIN UNIVERSITY, AUSTRALIAN FOOTBALL LEAGUE, AFLW, FOOTBALL FEDERATION AUSTRALIA LIMITED, MATILDAS, SOCCEROOS, CRICKET AUSTRALIA

Federal super blowout at $50bn

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Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 22-Oct-19

The Department of Finance has released data showing that the federal government’s unfunded superannuation liability topped $233.1bn at the end of 2018-19, compared with $183.1bn at the start of the financial year. Meanwhile, the Future Fund’s assets rose to $165.7bn in the year to September. The Future Fund Act allows the government to begin withdrawing money from the sovereign wealth fund in 2020 to meet unfunded super liabilities, although the Coalition has renewed a 2017 commitment to not do so.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIA. OFFICE OF THE AUDITOR-GENERAL

ABC goes begging as it pays execs 70pc more

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Original article by Lilly Vitorovich
The Australian – Page: 3 : 17-Oct-19

The ABC’s latest annual report shows that its executive management team and board of directors received total remuneration of $6.1m in 2018-19, compared with $3.6m in 2017-18. The public broadcaster added two people to its executive ranks during the latest reporting period. MD David Ander­son was paid $1.14m in 2018-19, while predecessor Michele Guthrie received a $1.35m termination payout. The ABC has reported a 2018-19 net operating surplus of $38.3m.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

AFLW at war

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Original article by Michael Warner
Herald Sun – Page: 62 & 61 : 3-Oct-19

The AFL Players’ Association says the majority of AFLW footballers support a proposed three-year collective bargaining agreement, and a vote on the deal will be held shortly. However, a group of AFLW players who are dissatisfied with the proposed pay deal has engaged the services of law firm Maurice Blackburn to represent them. Amongst other things, the dissident group contends that AFLW players will receive a pay rise of seven per cent in 2020 when based on hourly rates, rather than 21 per cent as the AFLPA has claimed.

CORPORATES
AUSTRALIAN FOOTBALL LEAGUE, AUSTRALIAN FOOTBALL LEAGUE PLAYERS’ ASSOCIATION, MAURICE BLACKBURN PTY LTD

RBA boss blasts CEO salaries after Qantas boss Alan Joyce’s wage revealed

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Original article by James Hall
News.com.au – Page: Online : 26-Sep-19

Reserve Bank of Australia governor Philip Lowe has criticised the large salaries of the nation’s top business executives at a time of low wages growth. Lowe argues that CEOs should not be rewarded with performance-based incentives merely for doing their job, while he says ordinary Australians should receive a wage increase of at least three per cent. His comments follow revelations that Qantas CEO Alan Joyce received total remuneration of almost $24m in fiscal 2018. Lowe himself receives a base salary of $903,000.

CORPORATES
RESERVE BANK OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN

The $10m men reap benefits of high returns

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 17-Sep-19

Australian Council of Superannuation Investors research reveals Australia’s 10 highest paid CEOs earned over $10 million in realised pay in fiscal 2018, with realised pay including the actual value of vested equity. Only one eligible ASX 100 CEO did not get their bonus in fiscal 2018, compared to six in fiscal 2017. ACSI CEO Louise Davidson says corporate Australia appears to view bonuses as "fixed pay under another name", rather than as a reward for "stretch performance"

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

Cash softens blow for ousted MPs

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Original article by Geoff Chambers, Richard Ferguson
The Australian – Page: 1 & 4 : 2-Sep-19

Analysis shows that at least 20 politicians who lost their seats at the 18 May federal election are entitled to receive a resettlement allowance. The amount of the lump sum payment varies depending on factors such as how long a politician has been in parliament, and it was designed to provide outgoing MPs and senators who do not have access to parliament’s superannuation scheme with re-skilling and re-employment assistance. Kerryn Phelps, Steve Martin and Sarah Henderson are amongst those who are entitled to receive the allowance, which is expected to cost about $1.3m in total.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF FINANCE

Public servants set the pace in race for pay rise

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Original article by Michael Roddan
The Australian – Page: 2 : 15-Aug-19

The Australian Bureau of Statistics advised on 14 August that overall wages had increased by 0.6 per cent in the June quarter. Public sector wages rose by 0.8 per cent, while private sector wages were up by just 0.5 per cent. For the year to June, public sector wages were up by 2.6 per cent, while private sector wages rose by 2.3 per cent. Reserve Bank governor Philip Lowe had stated on 9 August that federal and state governments should lift caps on public sector wages; he claimed the caps were impeding general salary increases. However, his calls to lift caps were attacked by Finance Minister Mathias Cormann.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF FINANCE