Executives at Pacific Brands gave themselves pay rises of up to 170 per cent as they planned to sack more than 1,800 workers, the company's annual report reveals.

The package of chief executive Sue Morphet, who announced on Wednesday that 1,850 of the company's jobs would be sent offshore, rose from $685,775 to $1.86 million last year, the Herald Sun newspaper reported.

This included a sevenfold rise in "incentive payments" - bonuses for axing jobs, the newspaper said, and came despite a 45 per cent drop in the share price in the six months before the pay rises were approved.

The total remuneration for 13 directors more than doubled last year, from just over $7 million to $15.5 million, the Herald Sun said.

http://news.smh.com.au/breaking-news-national/pacific-brands-execs-got-huge-pay-rises-20090227-8jep.html

Waterside workers, truckies and rail workers will block the passage of Pacific Brands' government-subsidised machinery when the manufacturing giant moves to ship it offshore.

Pacific Brands, which manufactures household-brand names including Bonds, Hard Yakka and King Gee, this week announced it would sack 1850 Australian staff and move its clothing manufacturing operations to China.

The company has confirmed it received a Federal Government subsidy worth about $15 million.

A number of unions, including the Maritime Union of Australia, the Transport Workers Union and the Rail Tram and Bus Union have vowed to keep the machinery in Australia.

It comes after the country's top union boss condemned a doubling in salary and other bonuses paid to the company's top 13 executives between 2007 and 2008.

"Corporate Australia, it would seem, has lost its moral compass," ACTU president Sharan Burrow said.

http://business.smh.com.au/business/unions-to-block-pacific-brands-offshore-move-20090227-8jih.html 

at the deep end of the trough …..

Sol is leaving our shores to avoid being here a moment more than four years and so avoid tax liabilities on his sizeable offshore assets.

Sol: "I don't think about that that much." Just a bit. No, it's for personal reasons.

"I have family, I have elderly parents, I have children, I have all kinds of reconnecting that I have to do." A bit like a dodgy phone line, really. "And to be quite frank I've got to lose about eight kilos, too." Damn aeroplane food.

But did anyone notice that Telstra never said Sol resigned or quit? Just that he would "leave" and "depart". Word from under the Telstra handset was that Sol's departure was being viewed under his contract as a "termination". And that comes with a $3 million bonus cherry.

Sol may have scored $30 million and $6 million odd in shares in his time here. But sadly he left his exit about six months late.

Was it only last July that the Aussie dollar peaked at US98c? It's now US64c. Still, Sol's payout this time has nothing on some of his previous payouts.

Like the $US72 million from US West, where he also walked away with the office fax, pager, golf club membership, newspaper subscriptions and a three-year ticket to the Davos Economic Forum. Here he simply leaves with a fistful of dollars.

http://business.smh.com.au/business/sol-gets-a-run-for-his-money-20090226-8j8s.html