Friday, February 14, 2003
THE $32 million man Chris Cuffe yesterday declared he was worth every cent of his Commonwealth Bank payout.
But both sides of politics and shareholder groups spoke with one voice saying the sum was "outrageous."
The bank announced on Wednesday the $32.75m payout to Mr Cuffe, who left its Colonial First State business earlier this month for Kerry Packer's CPH Investment Corp. It is the biggest payout in Australian corporate history.
This is positively sickening stuff, particularly given that thirty-three million dollars could help keep a thousand people in work, you know, like those thousand employees the Commonwealth have let go of late. Amusingly, there was also a picture of Shane Warne on the cover of the Telegraph today, which someone was reading in class, and someone looking from a distance put together the photo and the screaming headline of the Cuffe story below "I DESERVE IT", and thought Warnie was the one saying he deserved what he'd got...