Article: Queensland Rail boss Lance Hockridge earns almost $1m

[ozbob]

From the Courier Mail click here!

Queensland Rail boss Lance Hockridge earns almost $1m

Queensland Rail boss Lance Hockridge earns almost $1m
Article from: The Courier-Mail

Patrick Lion

October 31, 2009 12:00am

THE Queensland Rail boss pocketed almost $1m last year as his company battled damning safety problems, train overcrowding and the Riverfire affair.

Chief executive Lance Hockridge took home a total package of $981,000 for 2008-09 after being responsible for the $25,000 in taxpayer funds wasted on a luxury Riverfire function cancelled over its largesse.

The QR annual report reveals the CEO salary clearly for the first time this year, after multiple people held the role in 2006-07 and 2007-08, muddying the figures.

In the last annual report to show a single CEO salary, former boss Bob Schueber earned a $447,000 package in 2005-06.

Mr Hockridge's $981,000 package makes him the highest paid government-owned corporation chief or public servant.

QR yesterday defended the salary, saying that profit increased 38 per cent to $298 million during the period, while dividends to the Government rose 37 per cent to $215 million.

The group has been mired in controversy, including damning leaked safety reports and two fatal passenger train derailments. QR also has overseen an overcrowded CityTrain network and a bungled new timetable for services that did not exist.

A QR spokesman yesterday said salaries were determined in line with GOC guidelines and the broader market and were subject to independent evaluation by a remuneration consultant.

The top executive in charge of QR's passenger services, Paul Scurrah, received a $422,000 package, up from $372,000.

Blog comment:

These salaries are in line with similar positions in GOCs and compared to the financial sector are not overly excessive IMHO.  The problem with QR is network reliability and the fact that they are being restricted by Government (and TransLink) in their ability to put on additional services. The Government prattles on about more new trains but where are the new services? We are all facing very significant fare increases, it is time the Government and its agencies came clean.

[#Metro]

1. Where is TL's annual report
2. How much do they earn?

[O_128]

This cant be real can it. CEOs of major companies earn these high salaries becasue they work hard and there companies make a profit. this idiot has obviously never caught a train service in his life.

[Fares_Fair]

Queensland Rail boss Lance Hockridge earns almost $1m
Article from: The Courier-Mail (partial quote only)

Patrick Lion
October 31, 2009 12:00am

Mr Hockridge's $981,000 package makes him the highest paid government-owned corporation chief or public servant.

QR yesterday defended the salary, saying that profit increased 38 per cent to $298 million during the period, while dividends to the Government rose 37 per cent to $215 million.

So this is why the fares are going up 20% for Go card and 40% for paper tickets !
It's always interesting to note the claim of a 38% increase in profit for QR of $298 000 000,
I can only assume it is from their coal freight operations - and these significant monies
should also be used to improve tracks and facilities for the commuting public.
That would be a common sense approach.

The Bligh Government also claims that the coal freight industry requires $12 billion of monies for expansion.
If only she could do the same for the long-suffering commuter.

Regards,
Fares_Fair