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DAA Bonus Scandal
 
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# 1 : Friday 24-6-2011 @ 18:33
 
 
The board of the DAA has approved the payment of a €106k bonus to it's CEO, deferred untill next year.

This is despite a fall off in passenger numbers and a clear instruction from the government not to pay it. It's to be on top of his €308k "basic".

What do you think - does he deserve it?

http://www.rte.ie/news/2011/0624/daa-business.html
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# 2 : Friday 24-6-2011 @ 18:35
 
 
Someone said :

a clear instruction from the government to pay it.

Not to pay it surely?
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# 3 : Friday 24-6-2011 @ 18:36
 
 
Didn't they announce massive profits today. Despite the volcano ash cloud and the different industrial disputes at airlines, they turned a large profit. Perhaps his bouns was related to this in some way?
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# 4 : Friday 24-6-2011 @ 18:38
 
 
Isnt he already paid enough to do that job, why does he need a bonus to make him work harder?
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# 5 : Friday 24-6-2011 @ 18:45
 
 
The performance related bonus is part of his contract surely. They turned a profit. Why should it be denied to him? Exactly whose contract gets torn up and whose gets honoured. Does it depend on how big a deal the Mail etc makes of it?
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# 6 : Friday 24-6-2011 @ 18:46
 
 
Someone said :
Isnt he already paid enough to do that job, why does he need a bonus to make him work harder?

Why does any company offer bonuses? It's an incentive to reach goals, targets etc.

Very often a bonus is a big deciding factor on someone taking a job, they can make a big difference to some salaries.
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# 7 : Friday 24-6-2011 @ 19:03
 
 
AIB withheld bonus payments to junior and mid level staff because the Minister of Finance said not to pay it. I'm no expert in contract law but I seems odd that contracts for senior staff can't be broken despite the intervention of the Minister and sole shareholder but junior staff can have their contracts torn up at will.
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# 8 : Friday 24-6-2011 @ 19:08
 
 
Someone said :
AIB withheld bonus payments to junior and mid level staff because the Minister of Finance said not to pay it. I'm no expert in contract law but I seems odd that contracts for senior staff can't be broken despite the intervention of the Minister and sole shareholder but junior staff can have their contracts torn up at will.

Don't get me started on that!

With AIB it's a bit different because of the fact that there's those new banking laws and because of it it'd probably take a Supreme Court case to get a decision, a bit of a risk for a staff member! But my basic position would be the same. They were all working in capital markets, which is a very profitable division. Because of this, Treasury is apparently haemmorhaging staff, something which could hurt long term profitability. What pissed me off most about this was that it was known for a month (since a very public court case) that the bonuses were going to be paid but the smart heads in the press only found out the week the money was due to be handed over. Only then did the government move.

Bottom line, his contract stipulated extra money for meeting targets. Once they were met he, or anyone else should be paid!
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# 9 : Friday 24-6-2011 @ 19:17
 
 
But that was the wage offered on the job, to make the company good and profitable. He is paid enough already to do that job!
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# 10 : Friday 24-6-2011 @ 19:17
 
 
I hate the witch hunt about bonuses at the moment... it is such a distraction.
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# 11 : Friday 24-6-2011 @ 19:18
 
 
Someone said :
But that was the wage offered on the job, to make the company good and profitable. He is paid enough already to do that job!

The deal offered would have included the performance related bonus. It's not just random money shoved in his pocket!
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# 12 : Friday 24-6-2011 @ 19:22
 
 
Someone said :
The deal offered would have included the performance related bonus. It's not just random money shoved in his pocket!

Dont you think it was enough to do the job anyway, without the bonus. Do you not think its a generous wage to be getting, regardless of the rights and wrongs of paying a bonus?
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# 13 : Friday 24-6-2011 @ 19:27
 
 
Someone said :

Dont you think it was enough to do the job anyway, without the bonus. Do you not think its a generous wage to be getting, regardless of the rights and wrongs of paying a bonus?

What's enough? What does the average head of an international airport earn? More importantly its part of the contract, who are we to say, "eh, no, feck off and we'll keep your money!"?
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# 14 : Friday 24-6-2011 @ 19:36
 
 
I think its enough to be paid for a job, did they not announce redundancies recently at the airport? I would like to know how many bonuses are paid and how much in total, Its a bit like AIB announcing job losses and going out buying 100 brand new cars for staff recently.
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# 15 : Friday 24-6-2011 @ 19:42
 
 
It's a profit making entity, bonuses keep management motivated to keep it that way, a plus for the country right now. Why is it too much?The airline made €33m in profits, so the bonus is around 0.3% of that!
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