2009
  No.5
ABOUT US

The Edmund Rice Business Ethics Initiative, launched in 1991, exists to promote a conversation between business and the community on values and ethics: promoting life humanly in our businesses, our communities, our planet. It aims to create a space where these issues can be discussed and researched in mutually supportive ways. It seems to promote better communication for the sake of better outcomes for us all.

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Does pay need to be justified?

A survey of 84 Australian companies released by international consultants Hay Group reports that CEO remuneration has dropped 6.8% for the year to May 2009. Hay Group's Trevor Warden says that this figure reflects an increasingly strong link between CEO pay and company performance. But not everyone is convinced.

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Sanctions handed out to James Hardie executives and board

Supreme Court Justice, Ian Gzell ordered former James Hardie chief executive, Peter MacDonald to pay $350,000 and disqualified him from managing a corporation for 15 years. He issued fines of $75,000 and $35,000 respectively to the company's former General Counsel, James Shafron (7 years disqualification) and former Chief Financial Officer Phillip Morley (5 years disqualification). The company and two other defendants must pay ASIC's costs.

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Regulation, self or otherwise?

The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen, has recently announced that the Australian Securities and Investment Commission (ASIC) will take over more of the supervisory areas currently carried out by the Australian Stock Exchange (ASX), by early 2011.

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"Conflict of interest" or Corruption: keeping the boundaries clear

Corruption in Government always seems to be just simmering below the surface to break out in ugly spurts of mud and lava every now and then. Former Queensland Minister Gordon Nuttall has just received a seven year gaol term after being found guilty of corruptly receiving payments totalling $360,000. At an event to celebrate the 20th Anniversary of the Fitzgerald Inquiry, the man himself, Tony Fitzgerald has broken a long silence to deliver a rounding criticism of the State Government and a warning to all about Governments who have been a long time in office.
John Sweeney

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  Justine Nolan
» Young people's literature: justice matters
··Does pay need to be justified?
··Sanctions handed out to James Hardie executives and board
··Regulation, self or otherwise?
··"Conflict of interest" or Corruption: keeping the boundaries clear
This newsletter is a publication of the Edmund Rice Centre and the Trustees of the Christian Brothers. While all reasonable attempts have been taken to ensure that the information in this newsletter is correct and that opinions and points of view are in accordance with the purpose of the Business Ethics Initiative, the Edmund Rice Centre and the Trustees of the Christian Brothers do not guarantee its accuracy nor should anything contained in the newsletter be treated as professional advice. The Edmund Rice Centre and the Trustees of the Christian Brothers do not necessarily endorse or recommend any opinions, individuals or organisations which are linked to, or mentioned in, this newsletter.