Daily Archives: February 27, 2012

Cable & Wireless CEO paycheque: up 45%. Service reliability? That’s something else…

Cable & Wireless paycheque alright for some!

Now is the time when BFP juxtaposes

1/ Letter from a Cable & Wireless business customer in Barbados…

Due to a Cable and Wireless problem we were unable to receive or send emails for the entire working day yesterday (Monday).

The customer services number rang and rang unanswered until after 2 hours we were able to get through, to be told they had no idea when it would be restored.

This is the second time in a month and it is costing businesses like us, thousands of Dollars.

No apology, no compensation.

Just take it or leave it.

2/ Cable & Wireless CEO gets 45% pay increase!!!

Cable & Wireless stock is down 17% – but some folks are doing just fine…

Cable & Wireless chief collects £2.7m
Tony Rice receives pay and bonus package under private-equity style incentive plan for top executives

The chief executive of Cable & Wireless Communications (CWC) collected more than $4.3m (£2.7m) in pay and bonuses last year after the telecoms company’s highly controversial £30m private-equity style long-term incentive plan (LTIP) made its last payment.

Tony Rice collected basic pay of $1.08m, cash bonuses and benefits of $466,000, pension contributions of $270,000 and $2.6m from the five-year LTIP plan. Rice’s total payment was 50% higher than the previous year, while the shares lost 17% of their value.

Rice’s salary, cash bonuses and pension payment rose by 45% to $1.82m, while the amount he collected from the LTIP rose to $2.6m from $1.6m. The LTIP payment was larger this year because half of Rice’s payment for the previous year was deferred.

Other Cable & Wireless executives collecting bumper pay packages included…

Cable & Wireless CEO explains everything he thinks you need to know!

“The Caribbean region has suffered more due the economic downturn than anywhere else…”


Filed under Barbados