http://www.stuff.co.nz/national/8050...et-a-job-there
not good in Marlborough City KFC
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http://www.stuff.co.nz/national/8050...et-a-job-there
not good in Marlborough City KFC
Steve Braunias gives Carl's Jr Lincoln Rd 9/10.
http://www.nzherald.co.nz/lifestyle/...ectid=11654004
More importantly just got the RBD annual report in the mail.
What gives - no voucher for chicken and chips or any of their products, as we have had in previous years.
My return on investment ( previously dividends + food) has just dropped.
Yes, I also miss the free voucher !
Will also mention that about 10 years ago, a friend was doing an advanced tax paper as part of his law degree, had an assignment to comment on the RBD free burger & chips voucher for shareholders.
Think it was technically taxable, but have no idea how IRD would extract it's pound of flesh !
Yay, got my free lunch voucher in mail today (came with AGM notice )
- 2 pcs chicken
- chips
- potato & gravy
- drink
While you guys are filling your bellies, did you notice the intent to raise dirctors fees by 18% in the AGM notice?
The strategic pay report suggested
"The suggested new fees are at or above market median levels but still below upper quartile levels."
The directors then take the 'high ground' saying their own request for a pay increase is at the bottom end of Strategic pay' recommendation.
But taken together, the directors are asking to be paid above average just below the upper quartile. IMO this is excessive. Most of the thinking for Restaurant Brands is actually done by the master franchise holders in the USA. An RBD director requires a 'below average' skillset and should be remunerated accordingly.
These are the guys that offered our Russel a $1m 'long term' bonus based only on share price performance that he was able to cash in within months of it being granted. Nothing about outperforming a peer group of companies. Improving profitability of the company not a separate consideration? Where did $1m come from? And what is the next 'long term' incentive? $1m for next year?
No denying that Russel has done a good job. But he is already very well remunerated for that
The brief summary in the AGM notice said there was full copy of the Strategic Pay report on the RBD website. Anyone able to find it?
SNOOPY
It's really a bad time to ask for a party rise. Better to do so after the success of new operations.
Do financial institutions with million dollar holdings also get one voucher? I wonder who they give it to X)
Yes, one voucher per shareholder (regardless of number of shares held )
Rather than wondering what Insto's do with their vouchers, the more interesting question is what IRD do with their 33% of total vouchers issued.
I used my voucher at my local KFC tonight. Got in the door to find the 'hot n spicy' chicken being spruiked on the board out side was 20c extra per piece. What the? Just as well I am happy with standard chicken! Tried the raspberry fizzy drink for the first time. Let's just say I won't be going out and buying my own cans of raspberry soda any time soon! Service was pretty good, although I don't think the underling on the front desk had seen a sharehodler voucher before. At any rate the shift supervisor sorted him out!
When did KFC do away with their 'eat in' trays? Everyone seemed to be eating out of brown KFC paper bags. The food was good though, and cleanliness was up to scratch. Mind you, it was early in the night!
SNOOPY
I like KFC as my monthly greasy fried fix but a few weeks ago was treated by a friend to Texas chicken. I have read a whole heap on FB regarding people saying nothing beats KFC etc. etc. but please try them if you can and let me know your honest opinion. (not their sides as I think they useless but just their spicy chicken).
RBD holder but am a little concerned with the competition.
Thanks for the link. Still can't find it on the website myself.
This report suggests that RBD directors will not be overpaid, except in terms of assets under management. Most of the value of RBD is in the IP of the brands, or more correctly RBD's licence to use that IP which is in general owned by US based master franchisors. This means that RBD is inherently 'light on hard assets'. So it is no surprise that directors are overpaid in comparative terms by this asset measure.
Stephen Copulos, in his previous gig as a director of Collins Food Group in Australia, seems to have been on roughly $A90k per year. So maybe $NZ65k for the directors role in RBD NZ is not out of the question? There does seem to be a desire to generally refresh the board. So having had my grizzle, and not withstanding the realtively weak performance of the outgoing board members, I am prepared to support the increase in director fee motion.
I will be watching the performance of the directors going forwards from here like a hawk though!
SNOOPY
http://www.restaurantbrands.co.nz/sh...lders-meeting/
In the Restaurant Brands website under Corporate Info, Select "Annual Shareholders Meeting" and it will be listed under the 2016 heading