News report #1: Between 2002 and 2007, retirement village
operator Ryman Healthcare was the fastest value creator of
New Zealand’s 15 largest companies on the sharemarket. In
that period it returned its shareholders an average of 49
percent a year on their investments and created wealth of
just over $1 billion.
News report #2: The head of HealthCare Providers NZ,
the organization that represents most rest home and
retirement village owners, including Ryman, said a survey
they'd done recently had found that the average pay for
caregivers is $13.15 an hour.
Could these two facts possibly be connected?
2 comments:
Those two facts prove (yet again) that "trickle down" is, was and always will be a con.
Pity we don't know the CEO's salary. Isn't there an inverse relationship in the "mass service sector" between the CEO's salary and the average -- mean, really -- pay of the non-managerial workforce?
Great post.
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