TSTT Bonuses

[Solachica]

So I heard on the night of General Elections, 24th May, TSTT bigwigs paid themselves $70million in bonuses.
Anyone heard tht?

[vaio]

yes, i also heard that.

[Solachica]

Wht you think? Tht money shud be recalled?
They paid themselves off when they saw election results?

[vaio]

Isn't this signed off by the Minister? and was it really on election night? and why was there need to do it on election night? If so then it shld be revisited to ensure it was done above board.

But like i kept saying a lot of things were going on in gov't in the weeks leading up to elections, lots of shredding, lots of back dating, lots of approval for various things. No wonder the PP wants to revisit all contracts signed off during the election campaign

[KingofKings]

So what business is this of any of your`ll?

As a TSTT high level Manager, myself, along with all other Managers and executives are entitled to our bonuses,it is written into our
employments contracts and therefore the company is bound by law to pay it, just as Petrotrin workers are entitled to their profit
sharing bonus as part of their collective agreement that the union has with the company..

I suggest you get you facts straight before you write crap in an attempt to make confusion, this is a normal thing in the corporate world!!!


One Love,

KingofKings...

[Derson Charles]

So what business is this of any of your`ll?

As a TSTT high level Manager, myself, along with all other Managers and executives are entitled to our bonuses,it is written into our
employments contracts and therefore the company is bound by law to pay it, just as Petrotrin workers are entitled to their profit
sharing bonus as part of their collective agreement that the union has with the company..

I suggest you get you facts straight before you write crap in an attempt to make confusion, this is a normal thing in the corporate world!!!


One Love,

KingofKings...

it lookin kinda fishy kingman!!

[Solachica]

Yup, thts me, I luv to make confusion :D

So KOK, how much was your bonus?

[vaio]

...and when was it approved?

[Scorpio]

So I heard on the night of General Elections, 24th May, TSTT bigwigs paid themselves $70million in bonuses.
Anyone heard tht?

Doesn't Cable and wireless have a say in approving things like this ?

[greall]

Doesn't Cable and wireless have a say in approving things like this ?

CW owns 49% of TSTT and would have their own directors on the board and would have a say in the payment of the bonuses but if these bonuses were stipulated in the managers' employment contracts then that's another story...

Approval of the payment of the bonuses on the eve of a general election may provide fodder for conspiracy theories but we don't know how long the negotiations were in train for the payment of these bonuses.

Greg

[Scorpio]

CW owns 49% of TSTT and would have their own directors on the board and would have a say in the payment of the bonuses but if these bonuses were stipulated in the managers' employment contracts then that's another story...

Approval of the payment of the bonuses on the eve of a general election may provide fodder for conspiracy theories but we don't know how long the negotiations were in train for the payment of these bonuses.

Greg

I agree with this; I guess the timing of it was merely unfortunate, but not dishonest.

[greall]

I agree with this; I guess the timing of it was merely unfortunate, but not dishonest.

That's what it is...

Greg

[Solachica]

Ohho ok :D

[vaio]

Approval of the payment of the bonuses on the eve of a general election may provide fodder for conspiracy theories but we don't know how long the negotiations were in train for the payment of these bonuses.

as a state-owned company, do they have to disclose anything on these bonuses?

[greall]

as a state-owned company, do they have to disclose anything on these bonuses?

We're getting into technicality here as there would be some sort of confidentiality as per executive bonuses but there seems to be some mischief in the reporting as per my information.

Greg

[miktay]

Are shareholders entitled to know the scale of executive compensation?

[greall]

Are shareholders entitled to know the scale of executive compensation?

Hmmm...

Greg

[Redman]

Despite KOKs pov at the end of the day facts are

TSTT is a state enterprise

Election time is not a normal period
And as a state enterprise and the graft normally associated with these orgs there should be some sensitivity to the political environment-and hold until after the election or be absolutely transparent about it.
And after witnessing a HIGH level manager of this organization-on TV ALL the time flout laws on several exchanges, the concept of integrity at this org is obviously not present

Later