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Old 31-07-2020, 04:47 PM   #3841
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The ceo just paid himself 4 millions for last financial year. And now only taking 35 % paycut of his basis pay. The cabin crew pay has been down 70-80% due to not flying and pilots down 60-70% too since apr. So shouldn’t the management cut more of their pay? Also cabin crew pay during good times is abt 4-7k. Now down to less than 2k.
Actually, it was the management who went on aeroplane shopping spree, hedged oil until iirc 2024, lost $700+M from overzealous hedges in fuel just for FY20/2021, and still hedge about 70% of their peak fuel consumption till 2024, which caused SIA the greatest $ loss to date.

The moment air travel picks up, management will reward themselves with big bonuses.

Ownself check ownself, uniquely Singapore style.

https://www.todayonline.com/singapore/hep-c-outbreak-develop-learning-culture-instead-blame-culture-says-gan


https://www.theonlinecitizen.com/2018/08/10/esm-gohs-1m-criterion-deems-all-first-world-leaders-too-mediocre-to-become-pap-ministers/

Last edited by cherry6; 31-07-2020 at 04:55 PM..
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Old 31-07-2020, 04:59 PM   #3842
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Question is do you really need a ceo that’s useless, if you say the ceo will say f it and go elsewhere because of a lower pay, so be it. The skill set that he possess might not be that useful in any lower level job. So basically he failed as the leader, and he no longer can do any lower level job. He should be the one out of job, and not everyone else who is contributing to the company. You can look internally for someone who can steer the ship, people with a lot of experience, who have seen the ups and downs, and manage with great conviction, rather than someone who parachute in with no relevant experience and no idea how to steer the company in times of uncertainty.
I am not debating whether the current CEO is competent or not competent.

What I am saying is, if the point is that the CEO of SIA (regardless of who is in this job) should take a bigger pay cut or get no pay when SIA is retrenching so many people or that shareholders are taking a big hit, who will be willing to take that job and get no pay?

would like you say "someone internally who can steer the ship, people with a lot of experience, who have seen the ups and downs, and manage with great conviction" who is currently drawing e.g. 40k/month after pay cut (45k/month before pay cut), be willing to step up and take over as the CEO of SIA, and draw 30k/month after pay cut of 50% (60k/month before pay cut), or more extreme, draw 0/month, i.e. step up to become the CEO, but end up getting lesser pay than what he/she is getting paid doing "less" work as compared to the CEO.

if you make the cut so drastic, who would be willing to take over the reigns as the CEO of SIA? Then you will be left with a company without any CEO, i.e. rudderless, cannot even steer the ship. then maybe instead of retrenching 20% of workforce, the whole company has to close down and 100% of workforce will lose their job instantly.

does it make sense???? i am not sure.

my point is, pay cut is inevitable. but it's about how much to cut.
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Old 31-07-2020, 05:09 PM   #3843
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I am not debating whether the current CEO is competent or not competent.

What I am saying is, if the point is that the CEO of SIA (regardless of who is in this job) should take a bigger pay cut or get no pay when SIA is retrenching so many people or that shareholders are taking a big hit, who will be willing to take that job and get no pay?

would like you say "someone internally who can steer the ship, people with a lot of experience, who have seen the ups and downs, and manage with great conviction" who is currently drawing e.g. 40k/month after pay cut (45k/month before pay cut), be willing to step up and take over as the CEO of SIA, and draw 30k/month after pay cut of 50% (60k/month before pay cut), or more extreme, draw 0/month, i.e. step up to become the CEO, but end up getting lesser pay than what he/she is getting paid doing "less" work as compared to the CEO.

if you make the cut so drastic, who would be willing to take over the reigns as the CEO of SIA? Then you will be left with a company without any CEO, i.e. rudderless, cannot even steer the ship. then maybe instead of retrenching 20% of workforce, the whole company has to close down and 100% of workforce will lose their job instantly.

does it make sense???? i am not sure.

my point is, pay cut is inevitable. but it's about how much to cut.
I am sure someone will be willing to step up internally if put to the task/job. So many people have been given “stretch assignment” or extra work in companies, I am sure this is not new to any of them. Of course I am not saying the pay should be 5k a month, or some low amount. But if you got the caliber, step up and do the right thing, the pay will come.
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Old 31-07-2020, 05:15 PM   #3844
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I am sure someone will be willing to step up internally if put to the task/job. So many people have been given “stretch assignment” or extra work in companies, I am sure this is not new to any of them. Of course I am not saying the pay should be 5k a month, or some low amount. But if you got the caliber, step up and do the right thing, the pay will come.
Yep totally agree. There will definitely be someone who is willing to step up to the job as "stretched assignment", and they will know that they will reap the fruits of their labour when they navigate the company through this crisis and make it profitable again.

my point is, the pay cut must make sense. if one simply just suggest that the CEO should take a super drastic pay cut just because the company is retrenching people and shareholders are suffering, then as much as this capable person within the company is willing to take on a stretched assignment, he will consider hard and long whether he wants to take it on at much lower pay or no pay.

This might take years. will he/she be willing to take a bigger paycut from 40k down to 30k or even 0 during the period where SIA is in crisis? or maybe he will be happier just drawing 40k, look out for opportunities outside and just jump ship when there is such an opportunity?
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Old 31-07-2020, 08:50 PM   #3845
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Didn't Steve job take $1 salary when he was brought back to save Apple?

If a CEO thinks he do no work get fat pay better than he do work get little pay, quite frankly he better be a janitor.

As a shareholder I would vote for ceo pay cut at least 70%, but remunerate him handsomely if he managed to steer the company out of this shitstorm. But I guess SIA CEO is no Steve Jobs. So he can only do little work with fat pay but not hard work with little pay but reap the fruits after harvesting season.

Yep totally agree. There will definitely be someone who is willing to step up to the job as "stretched assignment", and they will know that they will reap the fruits of their labour when they navigate the company through this crisis and make it profitable again.

my point is, the pay cut must make sense. if one simply just suggest that the CEO should take a super drastic pay cut just because the company is retrenching people and shareholders are suffering, then as much as this capable person within the company is willing to take on a stretched assignment, he will consider hard and long whether he wants to take it on at much lower pay or no pay.

This might take years. will he/she be willing to take a bigger paycut from 40k down to 30k or even 0 during the period where SIA is in crisis? or maybe he will be happier just drawing 40k, look out for opportunities outside and just jump ship when there is such an opportunity?
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Old 31-07-2020, 09:05 PM   #3846
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Didn't Steve job take $1 salary when he was brought back to save Apple?

If a CEO thinks he do no work get fat pay better than he do work get little pay, quite frankly he better be a janitor.

As a shareholder I would vote for ceo pay cut at least 70%, but remunerate him handsomely if he managed to steer the company out of this shitstorm. But I guess SIA CEO is no Steve Jobs. So he can only do little work with fat pay but not hard work with little pay but reap the fruits after harvesting season.
I would want to ceo in these times to take minimal pay, but his remuneration can be in the form of shares of the company. Two points here, he has skin in the game, to make sure he does everything he can to ensure the company navigates out of this crisis safely and become profitable again; second it still allows him to have remuneration that’s decent.
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Old 31-07-2020, 09:11 PM   #3847
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Unless sia is affliates with govt... Other than that the CEO will continue to leech the sia and no control... The chairperson and board members must come in and control...
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Old 01-08-2020, 12:32 AM   #3848
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Didn't Steve job take $1 salary when he was brought back to save Apple?

If a CEO thinks he do no work get fat pay better than he do work get little pay, quite frankly he better be a janitor.

As a shareholder I would vote for ceo pay cut at least 70%, but remunerate him handsomely if he managed to steer the company out of this shitstorm. But I guess SIA CEO is no Steve Jobs. So he can only do little work with fat pay but not hard work with little pay but reap the fruits after harvesting season.
erm. comparing SIA to Apple? even if we park that aside, the circumstances between the r/s of Apple and Steve Job, is very much different for SIA and some random folk?

So what if there's this scenario where nobody wants to become CEO of SIA, cause of the ridiculous pay cut or zero pay and they feel that it is too big of a risk to take that they will be rewarded handsomely if they managed to steer SIA out of the storm.

We just have a company with a CEO?

I would want to ceo in these times to take minimal pay, but his remuneration can be in the form of shares of the company. Two points here, he has skin in the game, to make sure he does everything he can to ensure the company navigates out of this crisis safely and become profitable again; second it still allows him to have remuneration that’s decent.
yes definitely, shares remunerations make a lot of sense as it will align the executive interest with that of shareholder. but that being said, the pay cut has to be reasonable and not ridiculous, if not nobody wants to be the CEO of SIA already.
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Old 01-08-2020, 12:32 AM   #3849
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Unless sia is affliates with govt... Other than that the CEO will continue to leech the sia and no control... The chairperson and board members must come in and control...
don't get you. please elaborate
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Old 01-08-2020, 12:53 AM   #3850
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Unless sia is affliates with govt... Other than that the CEO will continue to leech the sia and no control... The chairperson and board members must come in and control...
Can like that. Likely got blessing of board.
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Old 02-08-2020, 05:15 AM   #3851
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erm. comparing SIA to Apple? even if we park that aside, the circumstances between the r/s of Apple and Steve Job, is very much different for SIA and some random folk?

So what if there's this scenario where nobody wants to become CEO of SIA, cause of the ridiculous pay cut or zero pay and they feel that it is too big of a risk to take that they will be rewarded handsomely if they managed to steer SIA out of the storm.

We just have a company with a CEO?



yes definitely, shares remunerations make a lot of sense as it will align the executive interest with that of shareholder. but that being said, the pay cut has to be reasonable and not ridiculous, if not nobody wants to be the CEO of SIA already.
Nobody volunteer I volunteer loh. Zero pay cannot lah. Ridiculous pay cut of 70% can.

Now no flights to do, CEO is just cutting cost and retrenching. Surely it's not too hard a job.
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Old 02-08-2020, 07:20 AM   #3852
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Guys, stay out of SIA.
Hard to see a light 💡 at the end of the tunnel for now.
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Old 02-08-2020, 07:44 AM   #3853
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There is a good chance that the company will be nationalised in my view. There is no way you can revive a company which guaranteed to suffer $500-$750m loss every quarter. (That's circa $2.5 Billion a year, for the NEXT 5 YEARS) due to stupid oil hedging.

Frankly the CEO should already be sacked for this! Why is he still there to draw high pay do little work during COVID 19 is unbelievable! Very few airlines in the world buy jet fuel more than 2 years in advance!

Guys, stay out of SIA.
Hard to see a light 💡 at the end of the tunnel for now.
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Old 02-08-2020, 08:16 AM   #3854
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Nobody volunteer I volunteer loh. Zero pay cannot lah. Ridiculous pay cut of 70% can.

Now no flights to do, CEO is just cutting cost and retrenching. Surely it's not too hard a job.
So at least you agreed that zero pay cannot. 70% of a million+ fixed pay is still quite substantial. You sure you wouldn’t kp it’s still too much?

Wah really so easy ah? Losing 1 bil a quarter so easy?
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Old 02-08-2020, 11:00 AM   #3855
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There is a good chance that the company will be nationalised in my view. There is no way you can revive a company which guaranteed to suffer $500-$750m loss every quarter. (That's circa $2.5 Billion a year, for the NEXT 5 YEARS) due to stupid oil hedging.

Frankly the CEO should already be sacked for this! Why is he still there to draw high pay do little work during COVID 19 is unbelievable! Very few airlines in the world buy jet fuel more than 2 years in advance!
Already more and more nationalised. Temasek is already holding 95.6% of all MCB IIRC.
Next tranche of $6.6B worth, probably will be Temasek buy up if price to recent tranche remains below par.

So Temasek with already 55% of all shares BEFORE May 2020 rights issue is now already theoretical holder of like

(0.55*2.5*1.19B + 0.956*1.12*1.19B)/(2.975+1.274)B
= 68.496% of all SIA shares if June 2020 MCB are all converted to shares after 10 years.
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