Speed Trap Hunter Forum: Best Radar Detectors, Laser Jammers, Laser Detectors, Speed Cameras Forum  

Go Back   Speed Trap Hunter Forum: Best Radar Detectors, Laser Jammers, Laser Detectors, Speed Cameras Forum > Speed Trap & Traffic Enforcement > Economics & Politics
Radar Detectors Forum Logon:


Economics & Politics Discussion of the economic and political market driving factors of automated enforcement technology.

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 2008-09-01
NMA Reporter NMA Reporter is offline
Senior Member
 
Join Date: 2008 Feb
Posts: 125
NMA Reporter is on a distinguished road
Exclamation Virginians Pay Australian Toll CEO Salary

Article: Virginians Pay Australian Toll CEO Salary

Former CEO Kim EdwardsIt took more than a year's worth of toll revenue on a Virginia highway just to pay a single employee of an Australian firm. Last year, Virginia motorists handed the Melbourne-based company that operates the Pocahontas Parkway near Richmond a total of $13.7 million in tolls and fees. The amount reflected a significant increase over the previous year as Transurban raised toll rates steeply in January, but it failed to cover the salary of CEO Kim Edwards who pocketed $9.2 million in bonuses and $5.2 million in termination benefits for his departure from the company in April. Combined with his salary, his total payout was A$16,664,532 (US $14,316,553).

Now that Edwards is gone, Virginia tolls do not even cover the multi-million dollar compensation packages offered to Transurban's top six executives. New CEO Chris Lynch takes the largest share with $3,839,783 in compensation. The other seven-figure employees take home the following in pay and other benefits:
  • North America President Michael Kulper, $3,056,337
  • Chief Financial Officer Chris Brant, $2,289,561
  • Chief Operating Officer Brendan Bourke, $2,245,434
  • Executive Vice President Ken Daley, $1,917,822
  • Group General Manager P O'Shea, $1,764,101
  • Total Compensation for key management: $34,651,427
The massive payments were made despite the company's net operating loss of more than $140 million. Transurban is not alone in imposing massive overhead costs on motorists for the operation of toll roads. Our analysis shows that even the best managed toll roads in the US are twenty-five times less efficient in collecting revenue than state gas tax collection (view report). Source
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply



Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Illinois Plans Toll Road Within a Toll Road NMA Reporter Economics & Politics 0 2008-10-16 09:30
Australian Toll Road Company Losing Millions NMA Reporter Economics & Politics 0 2008-08-27 08:18
New Virginia Toll Lanes Designed to Create Congestion NMA Reporter Economics & Politics 0 2008-07-10 19:51
New Virginia Toll Lanes Designed to Create Congestion NMA Reporter Economics & Politics 0 2008-07-10 19:51
Study: Toll Transponders Hide Cost of Tolling NMA Reporter Economics & Politics 0 2008-07-03 10:54


All times are GMT -4. The time now is 11:20.


©2019 SpeedTrapHunter