NZBus Exemplifies the Middle Class Squeeze

Three cheers for the bus drivers | John Minto
It’s 2009 annual report proudly states “over the 15 years since its formation Infratil’s average return has been 18 percent per annum…”
Let’s put that in some perspective. This year Infratil is paying out just over $32 million to its shareholders while the increase offered to drivers would be less that an additional $4 million in payments after three years.
The company can afford to pay the drivers more – it’s just become too used to thinking about them as a distant second to its greedy shareholders, despite the fact it’s the drivers who do the work that creates the profits.
The shareholders have had it too good for too long – it’s time for a bit more to trickle down from Infratil’s top table. Instead the company showed its contempt for its employees by locking out the drivers last month in an attempt to starve them back to work.
(tags: justice)

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