This afternoon I received an email from an anonymous loyal reader setting out the following comparison:
La Poste, France, 100% government owned, 2013 revenue €22 billion, 268,000 employees. Remuneration of CEO: €736,490.
US Postal Service, 100% government owned, 2013 revenue US $ 66 billion, 626,764 employees. Remuneration of CEO: US $550,000.
Australia Post, 100% government owned, 2013 revenue $5.8 billion, 32,732 employees. Remuneration of CEO: $4.8 million.
Then this evening I got sent Australia Post’s annual report:
Now I’m happy to believe that Fahour used to be a banker and got a huge salary and all. But the government doesn’t need to have former bankers running risk-free utilities and shouldn’t have to pay the going rate for bankers.