Lake Macquarie Councillors clash over general manager Brian Bell’s retirement

Lake Macquarie Councillors clash over general manager Brian Bell’s retirement

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

CONCERNED: Liberal Councillor Jason Pauling believes Brian Bell’s decision to take extended leave before retiring will cost ratepayers too much. LAKEMacquarie’s outgoing general manager Brian Bell has issued a stern warning to Lake Macquarie councillors trying to force him toquit before he’s ready, telling them it is “not for council to determine” when he’ll leave.


After 11 years in the top job, Mr Bell announced last week that he will retire from local government.

Mr Bell plans to leave the job in Junebefore taking a period of “extended leave”, during which an acting general manager will be appointed.

But Liberal councillors Jason Pauling and Kevin Baker have instead sought to force Mr Bell out earlier, saying it “doesn’t serve ourratepayers” for Mr Bell to continue to collect his salary after bowing out.

Angry that the full terms of Mr Bell’s retirement–including his final employment date and the cost of his decision to take leave –are not being made public, at Monday’s meeting Cr Pauling demanded to know“when the general managerwill retire and finalise his employment with this council”.

“He’s given more than four weeks written notice and then intends to take an extended period of leave that appears to not serve our ratepayers in any capacity other than frustrate the recruitment process and allow him to dictate and appoint the acting general manager into the future,” he said.

Prior to the meeting Cr Pauling sought to lodge a number of notice of motions calling for Mr Bell to leavea “mutually agreed”four weeks after Monday’s council meeting.

However the motions were blocked by Mr Bell, who sent a memo to councillors on Monday afternoon before the meeting saying he’d refused them on the basis they were “unlawful” because, he said, they were “ultra vires”, or, beyond the council’s power.

Instead, Cr Pauling sought to lodge the motions again in the chamber, arguing they were “valid”, but was blocked by Labor mayor KayFraserwho said his comments about Mr Bell were “petty” and “disgraceful”.

“An agreement is not required between the council and the general manager before retiring, as is standard practice in most professions,” she said.

“I don’t think we’re hear to say the general manager will retire when we want him to …that’s not how it works in the real world.”

But at the meeting Mr Bell offered his ownrebuke to Cr Pauling, saying there was “no need” for him to explain the terms of his retirement to the full council.

“The reality is that I have put my notice in and the moment I put my notice in it was done in terms of it being received by the council,” he said.

“I made it really clear in my email that I will be physically leaving the administration in June and that I will take extended leave.

“It is normal standard practice …I do take exception to the suggestion that I might be playing the council, I stand on my record and I say that this is simply not an appropriate thing to say about my circumstances.”

In a separate mayoral minute put by Cr Fraser, the majority of councillors agreedto begin the process of hiring a general manager to replace Mr Bell.


Hamilton Business Chamber to push for council and state government to fund suburb’s overhaul

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

VISION: Hamilton Business Chamber president Nathan Errington at James Street Plaza on Wednesday. The chamber is pushing for an upgrade of the area. Picture: Brodie OwenHAMILTON Business Chamber is banking on the state government and council to come to the table and rejuvenate the suburb they say hasn’t seen significant investment since the 1989 earthquake.


The chamber met with businesses and residents on Wednesday to map out ideas for the James Street Plaza – located on Beaumont Street near the Clock Tower – andspearhead a renewal of the area, which has seen an increase incrime and anti-social behaviour since the truncation of the rail line.

The ideas proposed included new playgrounds, lighting, an amphitheatre and more pedestrian zones.

Chamber president Nathan Errington said he wanted Hamilton to have a “new look” to ward off negative perceptions of the suburb.

“We believe as a chamber that since the earthquake,Hamilton hasn’t had any money spent since then,” he said.

“We want to attract families and new people to come to Hamilton.”

Mr Errington said the increase in anti-social behaviour was concerning to many people in the suburb, and some business owners felt unsafeas they left work.

TheNewcastle Heraldhas reported of several armed robberies, assaults –including on police officers –and brawls on Beaumont Street in the last 12 months.

The chamber has in the past been critical of the state government’s willingness to fix Hamilton’s crime problems after a delay in receiving funding for a CCTV proposal.

However, Mr Errington said the chamber is now in regular contact with parliamentary secretary for the Hunter Scot MacDonald.

Police have alsoincreased patrols in Hamilton.

And it is hoped the recent show of good faith extends to when the chamber asks for funding from the state government and council to fund its James Street Plaza vision.

Mr Errington believes the proposal could be a reality by next year, depending on council approvals.

“We’re doing this ourselves because we want to make sure we’re doing something to rectify the problems,” he said.

“So we’re working with the state government and Scot MacDonald, and also council, to come up with the funding and work out what the best grants are for James Street.”


Mother of 12-year-old girl to face manslaughter trial

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Newcastle courthouse. A HUNTER mother accused of “gross criminal negligence” in the death of her 12-year-old daughter will face a manslaughter trial in Newcastle Supreme Court.


The woman, who cannot be identified for legal reasons, was represented by solicitor Mark Ramsland when she appeared in Newcastle Local Court on Wednesday.

The woman pleaded not guilty to manslaughter and the matter was committed for trial to the Sydney Supreme Court in June.

The girl’s step-father, who also cannot be identified for legal reasons, was committed for trial on charges of murder and reckless grievous bodily harm during a court appearance on April 12.

A raft of other alleged offences, including seven counts of common assault and 10 counts of assault occasioning actual bodily harm,will serve as back-up and related offences when the man faces a trial in the Newcastle Supreme Court either later this year or early in 2018.

The man was arrested several kilometres from the family home on September 23, 2015, two hours after the girl’s mother discovered her daughter dead in her bed.

“I woke up about 5.40pm,” the girl’s mother allegedly told detectives.

“I went into [the girl’s] room and she wouldn’t wake up.

“I touched her and she was cold.”

Prosecutors will allege the girl hadbeen continually physically abused by her step-fatherin the lead-up to her death beforeshe was allegedly bashed by her stepfather and put to bed in the family home.

“He has hit her before,” the mother allegedly told the detectives after the girl’s death.

“He mostly takes her into the bedroom and won’t let me in.

“Sometimes he uses something to hit her with.”

The girl’s mother was arrested in June last year andcharged with her manslaughter after detectives conductedan eight-month investigation into the girl’s life in the lead-up to her death.

It will be alleged the mother showed “gross criminal negligence” by knowing that the girl was being continually physically abused.

According to a statement in the brief of evidence, detectives investigating the death alleged that it “became apparent that [the mother] was complicit in [the girl’s] death”.

“There was further evidence alleging [the step-father] had assaulted the victim a number of times prior to her death,” the statement reads.

The step-father remains in custody, where he has been since his arrest in September, 2015, while the mother remains on conditional bail.

Both will appear in Sydney Supreme Court on June 2 to set a trial date in the Newcastle Supreme Court.


Ashley Bryant’s suicide at centre of inquest into police officers’ trauma

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

Det Sgt Ashley Bryant investigating officer of Masoud Faroughi 33 yrs who was shot dead when he opened his front door in his kellyville home in Febuary 25 ,2006. Copy pic supplied smh,news,191207 Photo: Brendan Esposito


On December 15, 2013, former police officer Ashley Bryant sent Christmas cards, two weeks early, to his children.

Twenty-four-hours later, he drove to a picturesque national park on the NSW North Coast with beer and a bottle of scotch whisky.

He made a chilling phone call to triple zero, telling the operator he had post-traumatic stress disorder and wanted the effects of his debilitating mental illness to be investigated.

A few minutes later he died by suicide.

“I understand this is being recorded and I suffer from PTSD,” he told the operator in a call played in the NSW Coroner’s Court on Wednesday.

“I now live with the trauma of it and I know this will go to the coroner. There needs to be more things put in place for partners of those that suffer … “

Mr Bryant, through a wavering voice, provided his date of birth, registered police number and spelling of his last name.

The operator asked him if he could wait for police to get to him.

“No, I’ll be gone before they arrive, thank you,” Mr Bryant replied before the line went dead.

His death is at the centre of an inquest examining whether Mr Bryant received adequate support from the NSW Police Force for his psychological issues, which stemmed from traumatic incidents on the job.

The inquest will also examine whether the force needs to change the way it assesses the risk of officers developing mental health issues and how it supports former and serving officers with mental health diagnosis.

By the time Mr Bryant, a “hardworking” detective sergeant with 24 years in the police, was medically discharged in 2012, he had been diagnosed with PTSD, depression and alcohol abuse.

He worked in stations across the state, including Bourke and Ballina as well as in the Homicide Squad.

Counsel assisting the coroner, Ian Bourke, told the court Mr Bryant had responded to drownings, suicides, murders and other traumatic jobs over the course of his career.

He said there was evidence Mr Bryant’s problems dated back to at least 1995, when his wife, Deborah Bryant, noticed he was abusing alcohol.

In 1999, after he was referred to the police’s healthy lifestyle unit for assessment, he told a support office he had blackouts virtually every time he drank and had been drunk at work.

Over the years, he was advised by an array of medical professionals to stop drinking. Sometimes he did but often slipped back into abusing alcohol.

In 2009, the family moved from Bourke to Ballina and Mrs Bryant was becoming seriously concerned at Mr Bryant’s behaviour.

“He told her on more than one occasion that he didn’t think he could work in the police for much longer,” Mr Bourke said.

Two years later he was drinking heavily again and engaging in risky behaviour at work in the hope he would get hurt, he added.

He also thought about walking into the surf and shooting himself but didn’t want to subject his family to the stigma associated with suicide, Mr Bourke said.

By the end of 2012, after a three-week stint in hospital where he was treated for his PTSD and alcohol dependency, he was discharged, medically unfit, from the police force.

Mr Bryant then awaited a decision on whether he would get an early superannuation payout, which depended on whether he was assessed as having a full-time disability.

However in 2013, a psychologist – on behalf of the superannuation fund – assessed Mr Bryant as someone who could also return to work in a job less stressful than police work.

In turn, he would get partial, not full, remuneration.

By the end of 2013, Mr Bryant was drinking heavily and his wife agreed he should move away from the family home.

“Distraught and ashamed”, Mr Bryant told a psychiatrist he had been verbally abusive towards his wife and feared he could hurt his family.

Studying part-time for a law degree at Southern Cross University, Mr Bryant moved into student accommodation in Lismore on December 13, 2013.

He returned to Coffs Harbour three days later and his wife told him during a psychologist’s appointment that he could return home if he stopped drinking.

Mr Bourke said Mr Bryant walked out after stating, “I can’t do this any more.”

“After leaving the room, Ashley must have driven directly to Minyon Falls, getting beer and a bottle of whisky on the way,” he said.

The inquest continues.

??? Support is available for those who may be distressed by phoning Lifeline 13 11 14; Mensline 1300 789 978; Kids Helpline 1800 551 800; beyondblue 1300 224 636.


Visiting scholar Dr Marie-Pierre Moreau to speak at University of Newcastle about supporting academics who are also carers

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Valuable role: Dr Marie-Pierre Moreau said there was a “misrecognition” of care work as ” a disturbance”. She will speak from 1pm on Thursday in HB13 at Callaghan.UNIVERSITIES need to provide moresupport to academics who juggle their careers with caring for children or elderly or disabled relatives, according to a visiting scholar.


The University of Roehampton’s Dr Marie-Pierre Moreau will speak at the University of Newcastle on Thursday about her recent research project, whichfocused on how a university’s policies affect academic staff who are carers, plus how an academic’s caring responsibilities affect their careers and lives.

“There’s a general lack of awareness and that’s to do with the history of higher education, where traditionally it was a male scholar who didn’t have any caring responsibilities or was able to rely on the support of his spouse to undertake the care work,” Dr Moreau said.

“We still have this ongoing care-free culture, so often caring responsibilities are dealt with on an individual level rather than in the workplace and that contributes to make them invisible.”

Dr Moreau said while academics were“relatively privileged”, their profession was also “very greedy on your time”.

She said she had found the degree of support universities provided to academic carers was usually “quite modest” and depended on “how flexible and supportive your line manager is”.

She said there was also a “hierarchy of care”, with more support provided to academics with visible caring responsibilities, for children.

“If you have an elderly father who lives on the other side of the country, it’s up to you to make appropriate arrangements.”

The result, she said, wasacademics who may feel drained, emotional and distracted.

“If universities want to continue to attract the best people, then they need to be accommodating and acknowledge they’re not care-free workers, they do have responsibilities outside the workplace.”

DrMoreau suggested universities regularly collect data on their staff’s caring responsibilities and use this to inform more inclusive policies.

“What will be the different effects on carers and non carers? Make sure care is embedded in every policy and that policies are reviewed before they’redeveloped to make sure they’re not [adversely] affecting carers.”


Unreal VR virtual reality studio opens in Charlestown

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

More than fun and games: Unreal VR co-founder Daniel Girgis, seated, with business partner Matt Thomas.


NEWCASTLE has gained another virtual reality hub in Unreal VR.

Six months after VRXP opened in Watt Street, Unreal VR has openedon the Pacific Highway in Charlestown.

Co-founders and relatives Daniel Girgis and Matt Thomas said their decision to open the business they label a start-upwas based on the increasingly broad appeal of virtual reality technology.

“VR has been around for 40 years but I have been watching the space and it’s becoming more commercially viable because the technology is getting so powerful,” says Mr Girgis, an industrial designer who also has his own company.

The Charlestown studio has four VR stations, or rooms, separated by curtains as well as a driving and flight simulator that has been a drawcard for both thrill-seekers and retired pilots.

“We are trying to appeal to families, professionals and businesses and for this also to be a studio for research to test new applications of VR,” says Mr Thomas.

“People are coming in for a fun experience and that covers the rent, but the real potential is in research and development across many industries.”

The business stocks a range of VR experience programs for punters but with Mr Girgis’ “super geek” background, also plans to develop its own.

The men say the only limit on the potential use of VR is your imagination.

Already, VR is being used in education, sport (to help athletes practice), training and even health and therapy.

“We are working with some therapists to assist with mood displacement, using different colours and experiences to lift mood,” says Mr Thomas of the research potential.

“The application of the technology really drives us in giving people an experience that they could otherwise not get.”

There is increasing interest in VR from the real estate sector –with estate agents giving virtual tours of apartments they are pre-selling.

The latest technology allows the viewer to change and mix and matchdesign and decor features of the home to allow the viewer to get a feel for what the final product will resemble.

Until recently the CEO of publicly-listed debt collection specialists Collection House, Mr Thomas relocated to Newcastle six months ago to be closer to family.

“I’m an escapee from the corporate world,” he says with a grin.

As such, he’s excited about the use of VR for training and team building purposes,providing an environment that gives people a chance to fail with a soft landing: “Anything that helps people work together more selflessly is a good thing,” he says.


You can keep your Hollywood glam – we like our heroes modest

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

The hit films Lion, Last Cab To Darwin and Oddball didn’t make it. Neither did Kath & Kimderella, Mystery Road, Paper Planes, Snowtown, Holding The Man or The Turning.


Screen Australia has revealed the top 10 financial performers since the federal government agency starting funding films in 2008. While it doesn’t invest in every Australian film – The Great Gatsby and Mad Max: Fury Road were backed by Hollywood studios using Australian filming incentives, for example – the list is surprisingly revealing.

On top is a film you may not even have heard of – the modern day western Red Hill, which had Ryan Kwanten as a young cop facing an escaped killer in a country town. It was the 2010 debut for commercials and shorts director Patrick Hughes, who has since made The Expendables 3 and the coming Ryan Reynolds action comedy The Hitman’s Bodyguard in Hollywood.

Next on the list are the horror film The Babadook (Jennifer Kent, 2014), canine charmer Red Dog (Kriv Stenders, 2011), musical drama The Sapphires (Wayne Blair, 2012) and sci-fi thriller Predestination (Peter and Michael Spierig, 2014).

Rounding out the top 10 are the post-apocalyptic thriller The Rover (David Michod, 2014), war survivor drama The Railway Man (Jonathan Teplitzky, 2013), comic drama The Dressmaker (Jocelyn Moorhouse, 2015), crime thriller Animal Kingdom (David Michod, 2010) and outback drama Tracks (John Curran, 2013).

The report’s writers, Sandy George and Bernadette Rheinberger, note that none of the 94 films studied have become profitable yet. So don’t go into Australian film to get rich.

They also note the top 10 are very different films – different stories and styles of film, a wide range of budgets, with various forms of financing and ways of earning revenue – and that Lion, once the dollars flow back from its worldwide success, will be on the list soon.

When you look closely at what these films have in common, it tells us a lot about what works.

Most of these films take a fresh approach to a traditional film genre – the western, horror film or the crime thriller, for example.

They tell emotionally engaging stories with satisfying – largely upbeat – endings. And they were made by filmmakers telling a story that clearly meant something to them personally.

Some hadlow budgets, which helps when it comes to being profitable. But a good film can still be relatively profitable with a budget that’s big enough to attract international stars, including Kate Winslet for The Dressmaker and Nicole Kidman and Colin Firth for The Railway Man.

Most of these films were acclaimed at a major overseas festival so they had a profile when they opened here. But they still earned most of their revenue when they sold overseas.

Their scripts were largely developed over time – often based on a successful novel or play – so they were in good shape. And these films were made about as well as they could be.

But for every one of these characteristics, there is at least one exception, so there is no formula.

The one feature they have in common is also shared with the biggest Australian hits in local cinemas – a list headed by Crocodile Dundee, Australia, Babe and Happy Feet. It’s also true for such classic films as Strictly Ballroom, Muriel’s Wedding and The Castle.

The top 10 largely centre on unassuming Australian heroes.

Hollywood movies regularly feature heroes facing villains who threaten cities, the entire world or even the galaxy.

They feature characters with grand ambitions: in La La Land, Ryan Gosling’s character wants to save jazz. Their achievements are grand: in Hidden Figures, the mathematicians don’t just succeed, they get the first American into space. In Loving, Joel Edgerton and Ruth Negga’s characters overturn decades of institutionalised racism.

Australian films are much more likely to have ordinary people taking on modest foes with their biggest enemy often their own internal demons.

Kwanten plays a young cop with a pregnant wife on his first day in an unfriendly new town in Red Hill. Essie Davis is a mother protecting her young son from a monster who might well be inside her head in The Babadook. Firth plays a former prisoner of war who wants revenge on his Japanese captor in The Railway Man.

Hollywood has focused on “the hero’s journey” for decades. Stories about reluctant heroes who go through stages the screenwriting books describe as the “Call to Adventure”, “Meeting With The Mentor” and the “Supreme Ordeal” right up to “Return With Elixar”.

These are common elements in everything from The Wizard of Oz and Star Wars to Deadpool and Doctor Strange.

But Australian heroes are often loners who face an opponent, do their best, survive and get on with life. No fist-pumping, no triumphalism, no moments that set up a sequel.

The best of Australia that comes out during bushfires, floods and other disasters has fed into many of our most successful films.

Twitter @gmaddox


Mulberry & Flax fabric and yarn store is a haven for the crafty

28/09/2019 | 苏州美甲学校 | By admin | 0 Comments

Material gains: Mulberry and Flax owner Jennifer Smart in her Islington store. Picture: Penelope GreenOUR rapidly moving society is driving a resurgence back to pursuits of old, says the owner of the latest “crafty” business to open its doors in Newcastle.


Former film industry veteran, author and screenwriter Jennifer Smart made the tree change to Newcastle two years ago and decided to invest in her love for fabrics and yarn.

“My sister had just died of a heart attack and it made me reassess and realise that life is short,” she says.

“I have always had a passion for knitting and fabric so I thought about how to make it work.”

In April last year she opened Mulberry and Flax, which specialises in high-end fabrics that she largely sources from the US but also in small quantities from Japan.

She recently relocated to Maitland Road, Islington, where she has more space to expand her range.

The daughter of a knitter and sewer, Ms Smart stocks a range of Liberty prints: “I think my fondness for them comes from my grandmother,” she says.

She also sellsa wide range of ethically produced fabrics that are mostly hand-made and largely using Australian yarn.

She retails European silk by labels including US fashion designer Tory Burch and currently has in stock a black silk fabric featuring gold lurex that was used by Kate Moss in her Capsule Collection.

She has sourced organic, Indian hand-block painted fabrics and Pirate Purl yarns made with superfine merino wool that is dyed in Newcastle.

Mulberry and Flax is a havenfor those who knit, crochet, weave, felt and sew.

“Most shops sell one thing for one craft,but if people have an interest in craft they tend to be interested in others,” explains Mrs Smart.

Briefly living in Newcastle as a child, she feels an affinity with the Hunter and is impressed by its creative kudos.

With workshops in weaving, knitting and crocheting afoot, she is noting interest from young women who want to get hands-on about craft.

“The faster that life becomes, we want to reach out to slower pursuits,” she says.


Nine-year-old asylum seeker gets compo for Christmas Island suffering

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The federal government has agreed to pay an undisclosed sum to a nine-year-old girl who was detained on Christmas Island.


The deal ends a bitter, three-year legal battle which had initially aimed to secure compensation for thousands of asylum seekers.

The Iranian girl, referred to as “AS”, was held in detention on Christmas Island for almost a year, after arriving in Australia with her parents by boat in 2013.

A class action was launched on her behalf in 2014 against then-immigration minister Scott Morrison and the Commonwealth.

The girl’s lawyers argued that she developed post-traumatic stress disorder, a dental infection, a stammer and separation anxiety in detention, and still needs ongoing medical treatment.

Lawyers reached a compromise before the trial, which involves the government paying compensation to AS in exchange for her dropping her legal claim.

Supreme Court Justice Jack Forrest approved the confidential deal on Wednesday.

The deal comes after Justice Forrest last month halted the class action, ruling that other asylum seekers could no longer jointly sue the Commonwealth with AS.

The judge said that their personal injury claims were too different from hers and each other’s to be dealt with as a group.

This left AS alone in her claim against the government. She and her family have been living in the community on a temporary bridging visa since January 2015.

Outside court, Sister Brigid Arthur, the litigation guardian for AS, said that the girl and her family were relieved to put the case behind them.

“In one way while it’s an effort to get justice, it’s also an extra trauma for them, and an extra thing they were waiting for a response to,” said Sister Arthur, who is co-ordinator for the Brigidine Asylum Seekers Project.

While 35,000 asylum seekers were detained on the island between 2011 and 2014, it is unknown how many had signed on to the class action.

Tom Ballantyne, a principal of Maurice Blackburn, which represented AS, said outside court that while the deal was in her best interests, no amount of compensation could properly recognise what she and other asylum seekers had been through on Christmas Island.

Mr Ballantyne rejected the notion that the class action failed, saying Justice Forrest’s decision did not affect other Christmas Island asylum seekers’ legal rights to claim compensation separately.

“It in no way judged the actual conditions on Christmas Island,” Mr Ballantyne said.

“There are thousands of people who have been deeply affected by their experiences [in detention] and we encourage them to seek legal advice if they want to.”

The judge will make formal orders in the coming days, and the question of legal costs will be discussed in court next week.

A spokesperson for the Department of Immigration and Border Protection said the minister and the Commonwealth had made no admission of liability in relation to the matter.

“As this matter is still before the Court in relation to some outstanding issues, it would not be appropriate for the Department to comment further.”


Yahoo boss Marissa Mayer’s $245 million parachute

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As Yahoo nears its much-delayed vote on June 8 over the sale of its internet business to Verizon, the company released a market statement on Monday, which spelled out the deal for shareholders.


The filing also served as an eye-popping reminder of the hefty stock compensation its CEO, Marissa Mayer, has amassed during her tumultuous tenure at the faded internet pioneer.

The number was made even more substantial by its release on the date that Yahoo’s stock closed near its 52-week high. As the New York Times and others reported, Mayer’s Yahoo shares, stock options and restricted stock units were worth $US186 million ($245m) as of Monday, according to data in the filing and based on Yahoo’s Monday closing price of $US48.15 a share, well higher than the five-day average following the deal’s announcement last summer the company used in its calculation.

Yet while there is little question Mayer’s equity compensation at Yahoo has been hefty, particularly given her unsuccessful efforts to turn around the struggling internet giant, characterising the $US186 million as special terms Mayer is getting as a result of the sale is not correct, said John Roe, head of ISS Analytics, part of influential proxy adviser Institutional Shareholder Services.

Such numbers have also been tallied before, putting her total in cash and equity compensation during her tenure north of $US200 million. (The $US186 million tally does not include salary and bonuses she has received, or stock she has sold.)

“She is walking away with a tremendous sum,” Roe said in an interview. “But the sum is tremendous not because of a sweetheart arrangement in the transaction, but because of the value the counterparty is willing to pay for Yahoo.”

Since Mayer took over Yahoo in 2012, shares in the company have risen 208 per cent, thanks in large part to an increase in the value of its investments in Asia rather than the performance of the company’s core business. And since Verizon announced its deal last July, shares have risen some 25 per cent.

According to company filings, Mayer holds $US77 million in shares outright that she would have access to whether a sale occurred or not. Another $US84 million in stock options, Roe pointed out, have already vested, meaning Mayer has the ability to exercise them and they would not be accelerated, according to company filings released in March and back in 2015.

Just $US25 million – if one can put “just” in front of a number of that size – is part of the “golden parachute” terms that would accelerate Mayer’s restricted stock units in the event of a sale and her departure from the company. (Roe notes the number of those units will go down slightly each month as more vest; all numbers are based on the closing value of Monday’s share price, at $US48.15.) Mayer is also in line to receive about $US3 million in cash payments and benefits if she leaves the company under the terms of the agreements.

Whether that will happen after the deal goes through is not clear. The company has announced a new CEO for the remaining portion of Yahoo that will not be sold to Verizon. And though reports have pointed to her exit, Mayer has said only that “for me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.”

A Yahoo spokesman declined to comment further on the company’s leadership or Mayer’s compensation, beyond the numbers in the proxy.

Still, $US186 million is a big number by any measure, however much Mayer may already be vested.

Yet it could have been even larger: In March, the company said it would not award Mayer her cash bonus for 2016 and accepted her offer to forgo her annual equity award, a punishment for her team’s handling of epic data breaches in 2014 the board said members of the executive team and legal and IT staff “did not properly comprehend or investigate, and therefore failed to act sufficiently upon.” Mayer’s pay cut was expected to be at least $US12 million.

The Washington Post

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