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Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The Sydney Morning Herald

Executives at James Packer's casino operator, Crown Resorts, have found out the hard way that the house doesn't always win. 

The top five executives, including executive chairman John Alexander, lost $7.5 million of incentive payments for the 2017 financial year, according to Crown's annual report released on Thursday.

Crown executive chairman John Alexander: "It has been a challenging period". Crown executive chairman John Alexander: "It has been a challenging period". Photo: James Alcock

But it was only indirectly related to the company's disaster in China, where 19 employees were detained last October and then jailed for promoting gambling. 

The executives' cardinal sin was not hitting the earnings per share (EPS) target that was the sole performance hurdle required by the long-term incentive plan they were given in 2014.

James Packer. James Packer. Photo: Sahlan Hayes

"In financial year 2017, Crown did not meet the relevant EPS hurdle and accordingly, no entitlement...


Read full article on News GN Business


Read more: Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The...

Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The Sydney Morning Herald

Executives at James Packer's casino operator, Crown Resorts, have found out the hard way that the house doesn't always win. 

The top five executives, including executive chairman John Alexander, lost $7.5 million of incentive payments for the 2017 financial year, according to Crown's annual report released on Thursday.

Crown executive chairman John Alexander: "It has been a challenging period". Crown executive chairman John Alexander: "It has been a challenging period". Photo: James Alcock

But it was only indirectly related to the company's disaster in China, where 19 employees were detained last October and then jailed for promoting gambling. 

The executives' cardinal sin was not hitting the earnings per share (EPS) target that was the sole performance hurdle required by the long-term incentive plan they were given in 2014.

James Packer. James Packer. Photo: Sahlan Hayes

"In financial year 2017, Crown did not meet the relevant EPS hurdle and accordingly, no entitlement...


Read full article on News GN Business


Read more: Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The...

Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The Sydney Morning Herald

Executives at James Packer's casino operator, Crown Resorts, have found out the hard way that the house doesn't always win. 

The top five executives, including executive chairman John Alexander, lost $7.5 million of incentive payments for the 2017 financial year, according to Crown's annual report released on Thursday.

Crown executive chairman John Alexander: "It has been a challenging period". Crown executive chairman John Alexander: "It has been a challenging period". Photo: James Alcock

But it was only indirectly related to the company's disaster in China, where 19 employees were detained last October and then jailed for promoting gambling. 

The executives' cardinal sin was not hitting the earnings per share (EPS) target that was the sole performance hurdle required by the long-term incentive plan they were given in 2014.

James Packer. James Packer. Photo: Sahlan Hayes

"In financial year 2017, Crown did not meet the relevant EPS hurdle and accordingly, no entitlement...


Read full article on News GN Business


Read more: Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The...

Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The Sydney Morning Herald

Executives at James Packer's casino operator, Crown Resorts, have found out the hard way that the house doesn't always win. 

The top five executives, including executive chairman John Alexander, lost $7.5 million of incentive payments for the 2017 financial year, according to Crown's annual report released on Thursday.

Crown executive chairman John Alexander: "It has been a challenging period". Crown executive chairman John Alexander: "It has been a challenging period". Photo: James Alcock

But it was only indirectly related to the company's disaster in China, where 19 employees were detained last October and then jailed for promoting gambling. 

The executives' cardinal sin was not hitting the earnings per share (EPS) target that was the sole performance hurdle required by the long-term incentive plan they were given in 2014.

James Packer. James Packer. Photo: Sahlan Hayes

"In financial year 2017, Crown did not meet the relevant EPS hurdle and accordingly, no entitlement...


Read full article on News GN Business


Read more: Crown Resort bosses lose $7.5m in bonuses, ex-CEO Rowen Craigie to walk away with $9m - The...

Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

A rail line moving into the distance.
Related Story: Inland railway to go across Queensland floodplain despite deadly warning

The consultation process for deciding which route the Melbourne-to-Brisbane inland railway would take in southern Queensland was "a complete farce", according to local farmers.

Key points:

  • Selection process for inland rail route lacked transparency, locals say
  • Farmers concerned chosen path could be "catastrophic" in event of flood
  • Infrastructure Minister Darren Chester stands by the process

Federal Infrastructure Minister Darren Chester today announced the railway's path would go across floodplains north of the New South Wales border.

The chosen route is similar to the alignment known as the "base case" proposed by the Australian Rail and Track Corporation (ARTC) in...


Read full article on News GN Business


Read more: Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

A rail line moving into the distance.
Related Story: Inland railway to go across Queensland floodplain despite deadly warning

The consultation process for deciding which route the Melbourne-to-Brisbane inland railway would take in southern Queensland was "a complete farce", according to local farmers.

Key points:

  • Selection process for inland rail route lacked transparency, locals say
  • Farmers concerned chosen path could be "catastrophic" in event of flood
  • Infrastructure Minister Darren Chester stands by the process

Federal Infrastructure Minister Darren Chester today announced the railway's path would go across floodplains north of the New South Wales border.

The chosen route is similar to the alignment known as the "base case" proposed by the Australian Rail and Track Corporation (ARTC) in...


Read full article on News GN Business


Read more: Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

A rail line moving into the distance.
Related Story: Inland railway to go across Queensland floodplain despite deadly warning

The consultation process for deciding which route the Melbourne-to-Brisbane inland railway would take in southern Queensland was "a complete farce", according to local farmers.

Key points:

  • Selection process for inland rail route lacked transparency, locals say
  • Farmers concerned chosen path could be "catastrophic" in event of flood
  • Infrastructure Minister Darren Chester stands by the process

Federal Infrastructure Minister Darren Chester today announced the railway's path would go across floodplains north of the New South Wales border.

The chosen route is similar to the alignment known as the "base case" proposed by the Australian Rail and Track Corporation (ARTC) in...


Read full article on News GN Business


Read more: Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

A rail line moving into the distance.
Related Story: Inland railway to go across Queensland floodplain despite deadly warning

The consultation process for deciding which route the Melbourne-to-Brisbane inland railway would take in southern Queensland was "a complete farce", according to local farmers.

Key points:

  • Selection process for inland rail route lacked transparency, locals say
  • Farmers concerned chosen path could be "catastrophic" in event of flood
  • Infrastructure Minister Darren Chester stands by the process

Federal Infrastructure Minister Darren Chester today announced the railway's path would go across floodplains north of the New South Wales border.

The chosen route is similar to the alignment known as the "base case" proposed by the Australian Rail and Track Corporation (ARTC) in...


Read full article on News GN Business


Read more: Inland rail consultation process a complete farce, Queensland farmers say - ABC Online

Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC Online

Reserve Bank governor Philip Lowe is optimistic Australia's economy is on the path to a new post-mining growth phase, despite the challenges of weak wages growth, record-and-still-rising debt, and looming interest rate increases.

Speaking in Perth about "the next chapter" in Australia's economic development, Dr Lowe said the mining investment downturn was almost over, but Australia would need to look for new innovate industries to compete globally.

"If we are to take advantage of the opportunities that are offered by technology and growth in Asia, we need a flexible workforce with strong skills in the areas of problem solving, critical thinking and communication," he advised.

"Investment in human capital will be one of the keys to success."

The most positive sign is that investment in non-human capital — that is equipment, machinery,...


Read full article on News GN Business


Read more: Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC...

Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC Online

Reserve Bank governor Philip Lowe is optimistic Australia's economy is on the path to a new post-mining growth phase, despite the challenges of weak wages growth, record-and-still-rising debt, and looming interest rate increases.

Speaking in Perth about "the next chapter" in Australia's economic development, Dr Lowe said the mining investment downturn was almost over, but Australia would need to look for new innovate industries to compete globally.

"If we are to take advantage of the opportunities that are offered by technology and growth in Asia, we need a flexible workforce with strong skills in the areas of problem solving, critical thinking and communication," he advised.

"Investment in human capital will be one of the keys to success."

The most positive sign is that investment in non-human capital — that is equipment, machinery,...


Read full article on News GN Business


Read more: Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC...

Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC Online

Reserve Bank governor Philip Lowe is optimistic Australia's economy is on the path to a new post-mining growth phase, despite the challenges of weak wages growth, record-and-still-rising debt, and looming interest rate increases.

Speaking in Perth about "the next chapter" in Australia's economic development, Dr Lowe said the mining investment downturn was almost over, but Australia would need to look for new innovate industries to compete globally.

"If we are to take advantage of the opportunities that are offered by technology and growth in Asia, we need a flexible workforce with strong skills in the areas of problem solving, critical thinking and communication," he advised.

"Investment in human capital will be one of the keys to success."

The most positive sign is that investment in non-human capital — that is equipment, machinery,...


Read full article on News GN Business


Read more: Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC...

Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC Online

Reserve Bank governor Philip Lowe is optimistic Australia's economy is on the path to a new post-mining growth phase, despite the challenges of weak wages growth, record-and-still-rising debt, and looming interest rate increases.

Speaking in Perth about "the next chapter" in Australia's economic development, Dr Lowe said the mining investment downturn was almost over, but Australia would need to look for new innovate industries to compete globally.

"If we are to take advantage of the opportunities that are offered by technology and growth in Asia, we need a flexible workforce with strong skills in the areas of problem solving, critical thinking and communication," he advised.

"Investment in human capital will be one of the keys to success."

The most positive sign is that investment in non-human capital — that is equipment, machinery,...


Read full article on News GN Business


Read more: Reserve Bank governor optimistic, despite slow wage growth, growing debt and rising rates - ABC...

Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Matthew Biggin, 31, of Bundaberg, is among those in the Wide Bay region who will be expected to use a cashless welfare card next year in the place of Centrelink payments.

The Federal Government has chosen the region as the first urban area in the country to get the scheme.

According to government data, 90 per cent of under 30s on unemployment benefits in Wide Bay had a parent who was also on welfare during the past 15 years.

Under the program, 80 per cent of a person's welfare income will be quarantined on a debit-style card that cannot be used on alcohol, gambling or to withdraw cash.

As a father of three, Mr Biggin said he was worried how cutting access to cash would affect his family.

"It makes me feel really down and out, and like I can't support my family properly," he said.

"I'm just really stressed out. I don't like the idea of...


Read full article on News GN Business


Read more: Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Matthew Biggin, 31, of Bundaberg, is among those in the Wide Bay region who will be expected to use a cashless welfare card next year in the place of Centrelink payments.

The Federal Government has chosen the region as the first urban area in the country to get the scheme.

According to government data, 90 per cent of under 30s on unemployment benefits in Wide Bay had a parent who was also on welfare during the past 15 years.

Under the program, 80 per cent of a person's welfare income will be quarantined on a debit-style card that cannot be used on alcohol, gambling or to withdraw cash.

As a father of three, Mr Biggin said he was worried how cutting access to cash would affect his family.

"It makes me feel really down and out, and like I can't support my family properly," he said.

"I'm just really stressed out. I don't like the idea of...


Read full article on News GN Business


Read more: Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Matthew Biggin, 31, of Bundaberg, is among those in the Wide Bay region who will be expected to use a cashless welfare card next year in the place of Centrelink payments.

The Federal Government has chosen the region as the first urban area in the country to get the scheme.

According to government data, 90 per cent of under 30s on unemployment benefits in Wide Bay had a parent who was also on welfare during the past 15 years.

Under the program, 80 per cent of a person's welfare income will be quarantined on a debit-style card that cannot be used on alcohol, gambling or to withdraw cash.

As a father of three, Mr Biggin said he was worried how cutting access to cash would affect his family.

"It makes me feel really down and out, and like I can't support my family properly," he said.

"I'm just really stressed out. I don't like the idea of...


Read full article on News GN Business


Read more: Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

Matthew Biggin, 31, of Bundaberg, is among those in the Wide Bay region who will be expected to use a cashless welfare card next year in the place of Centrelink payments.

The Federal Government has chosen the region as the first urban area in the country to get the scheme.

According to government data, 90 per cent of under 30s on unemployment benefits in Wide Bay had a parent who was also on welfare during the past 15 years.

Under the program, 80 per cent of a person's welfare income will be quarantined on a debit-style card that cannot be used on alcohol, gambling or to withdraw cash.

As a father of three, Mr Biggin said he was worried how cutting access to cash would affect his family.

"It makes me feel really down and out, and like I can't support my family properly," he said.

"I'm just really stressed out. I don't like the idea of...


Read full article on News GN Business


Read more: Cashless welfare card recipient fears for family when new Centrelink scheme starts - ABC Online

You don't want this on your boarding pass - Rockhampton Morning Bulletin

THERE are many things a traveller doesn't want to see at the airport - long security queues, a 'delayed' sign on the departures board or a flight attendant checking bags into the hold at the boarding gate.

But one of the biggest signs that you are about to have a nightmare journey is the letters 'SSSS' on your boarding pass.

The code, which only applies if you are travelling to the US, means "Secondary Security Screening Selection." It means that, like comedian Nazeem Hessain recently experienced, the passenger has been selected for additional screening by security.

Officials will take a particular interest in you and your luggage; giving you a pat down, swabbing for explosive residue and opening up all of your bags.

They may also require extra information to prove identity and a detailed run-down of all travel plans.

The scheme was introduced by the Transport Security Administration...


Read full article on News GN Business


Read more: You don't want this on your boarding pass - Rockhampton Morning Bulletin

$220 million per kilometre: Sydney to Newcastle rail line rejig to burn cash - The Sydney Morning Herald

A fresh NSW transport leak reveals that the decision to shut down the last two kilometres of the Sydney to Newcastle railway line was taken before costing the light rail replacement and without an assessment of costs and benefits.

The cabinet-in-confidence report, prepared after the decision to close the line, refers to the decision as a "sunk cost" estimated at about $200 million.

The leak came just a day after Transport Minister Andrew Constance defended spending $200,000 hunting down the source. The leak came just a day after Transport Minister Andrew Constance defended spending $200,000 hunting down the source.  Photo: Max Mason-Hubers

The leak comes one day after Transport Minister Andrew Constance defended spending $200,000 hunting down the source of transport leaks, invoking national security.

The 2.7-kilometre light rail link that will replace it is costed at about $250 million, bringing the total cost, inclusive of planning and development and urban renewal work, to about $600 million,...


Read full article on News GN Business


Read more: $220 million per kilometre: Sydney to Newcastle rail line rejig to burn cash - The Sydney Morning...

Welfare quarantine on the cards for thousands of Queenslanders in Wide Bay region - ABC Online

Thousands of Queenslanders will have their Centrelink payments quarantined when a compulsory cashless welfare card is brought in next year.

The Federal Government will today confirm the controversial card will be rolled out across the Wide Bay region, including Bundaberg and Hervey Bay.

Under the scheme 80 per cent of a person's welfare income is quarantined on a debit-style card, which cannot be used on alcohol, gambling or to withdraw cash.

It will apply to people under the age of 35 who receive dole and parenting payments.

Human Services Minister Alan Tudge said the region had serious social problems the Government needed to address.

"We're concerned about the impacts on drugs, alcohol and gambling, particularly being used by families and children being neglected in the process," he said.

"At the end of the day it's not their money,...


Read full article on News GN Business


Read more: Welfare quarantine on the cards for thousands of Queenslanders in Wide Bay region - ABC Online

New Australian ten dollar note: Who are the people and what are the features? - NEWS.com.au

AS Australia adjusts to the new $5 note, the new $10 note will roll out tomorrow from the Reserve Bank of Australia and into your pockets. .

While the colour, size and shape hasn’t change, the revamped tenners boast better security features, benefit to the vision impaired, and new artwork.

All the notes in this series each feature a different species of Australian bird and wattle. The cockatoo and the bramble wattle are splashed on this edition of the ten.

STRONG AUSTRALIAN DOLLAR THREATENS ECONOMY AFTER REACHING TWO-YEAR HIGH

And this version of the $10 will see a glossier, symbolism-packed tribute to Australia’s writing legacy.

For the vision impaired, two bumps on the bottom edge of the note will be an identifying aid.

Your old notes aren’t useless now, though. The two can continue to be used at the same time.

Who are the faces on the new $10 note?

The tenner pays tribute to two...


Read full article on News GN Business


Read more: New Australian ten dollar note: Who are the people and what are the features? - NEWS.com.au

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