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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1163)5/3/2001 1:34:43 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
Far too generous

2001-05-04
quamnet.com

I refer to the article headlined "Executive package exceeds $ 283m at PCCW" (South China Morning Post Business, April 24).

It is truly unconscionable that an executive of Pacific Century CyberWorks (according to the report, it is probably deputy chairman Francis Yuen Tin-fan) should get such a huge amount.

PCCW is a company the share price of which has fallen from above $ 16 in July last year to less than $ 3 now. It has posted a loss of $ 6.9 billion for the past fiscal year. It has wasted a communications franchise that was the jewel of Hong Kong.

Who pays the price for this? The shareholders that's who, not, it seems, the executives.

VICTOR R. SHAMES

Repulse Bay

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