Thursday, February 26, 2009

The Snout/Trough Index 2008

image A couple of weeks ago I was reluctantly compelled to point out that NAB’s 2008 Financial Report contained a 19 page remuneration report, which constituted a massive 63% of the Directors’ Report.

I now see that ANZ has put them to shame – the 2008 Annual Report includes a whopping 22 page remuneration report.  This makes up 85% of the total Directors’ Report.  That’s right – they spend 22 pages talking executive pay and 4 pages talking about everything else.

That’s what I call getting your priorities right.

For the sake of completeness, here’s the 2008 Snout/Trough Index:

Bank Remuneration Report pages Remun Rpt as % of Directors’ Rpt
ANZ 22 85
CBA 20 74
NAB 19 63
WBC 17 68

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