Tuesday, April 21, 2009

Turn it round Ralph - be a hero!

Commonwealth Bank Ralph Norris boss takes $320,000 cut.

I've worked with Ralph and he is a pretty good guy. "Despite his pay cut, Mr Norris will still retain incentive and performance payments, which could see his total remuneration top $6 million next year."

He has taken the pay cut so that he can "... share the pain with customers."

I know you probably won't agree with me Ralph, but how about taking the $320,000 as your remuneration and take a $6 million cut. You could lead the world and other people on very excessive remuneration - say over 1 M a year might follow your example. It would do a hell of a lot more than trying to get the people with no money to work 9 days in the fortnight. It would show that the tears being cried by the very wealthy about this economic tsunami aren't just crocodille tears - that would really share the pain.

And to be honest, $320,000 is a pretty good income. That is $27,000 a month, $877 a day.
A person on $30,000 lives on $2,500 a month or $82 a day. Minus tax for all of these of course.

6 million = $500,000 a month, that's $16,438.36 a day!

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