Meanwhile … a little history …
Macquarie chief Nicholas Moore’s pay soars to $16.5m
Joyce Moullakis – afr.com
08 May 2015
Macquarie Group chief executive Nicholas Moore makes more in 12 minutes than the average worker in Australia earns in a full working week.
The banking boss saw his pay for the 12 months to March jump 26 per cent to $16.5 million as Macquarie’s earnings climbed, making him the nation’s second-highest paid chief executive of a listed company.
The massive pay cheque means that based on a five-day working week, Mr Moore is paid $7933 per hour, or $1586 every 12 minutes, more than an average worker’s full-time weekly earnings of $1542.
http://www.afr.com/it-pro/macquarie-chief-nicholas-moores-pay-soars-to-165m-20150508-ggwxsx.html
• Hobart Airport – the full monty
John Hawkins (Comments): “On January 16th 2009 I spoke to Nick Case at Macquarie Bank who heads the unlisted Global Infrastructure Fund III, he confirmed that “currently Hobart Airport is an investment controlled by the Global Investment Fund III, with 50.1% of the investment, The Retirement Benefit Fund of Tasmania owning the remaining 49.9%.”
The fund was launched according to Mr Case with an initial value of $1, it is still open and as of today stands in their books at $1.08.
They are happy with their investment having gained approval for an airport hotel, a day care centre and an industrial complex mooted for the site and they see no reason why the land value should have gone down, they have not written it down in their books but have written it up so that the airport is now valued in excess of the $350 million dollar purchase price!
I suggest that this may be the only appreciating asset in Australia, further he stated that this investment was considered too small to put in the Macquarie Airport Fund, he may eventually be proved right.
http://oldtt.pixelkey.biz/index.php/article/john-lawrence-go-jimbox
• Airport disaster averted – Tasfintalk
Thursday, 31 October 2013
(2013) The Hobart Airport consortium (TGC) has survived another year, avoiding looming disaster by injecting more equity and offloading a sizable chunk of debt. The recently released 2012/13 financial statements have revealed how consortium members, including RBF with a 49.9% interest had to find another $121 million to refinance and reduce debt. Finance costs and management fees have strangled the consortium since inception. Dividends have been conspicuously absent in the past three years and capital expenditure dependent on more borrowings.
http://tasfintalk.blogspot.com.au/2013/10/airport-disaster-averted_29.html
