Crisis? What Crisis? II

Belford Parrott told his radio audience on September 23 that US Congress had approved a $700 billion bailout package, before the draft legislation was prepared (and a week before it was rejected the first time). Mr Parrott also told his listeners that day that Michael Costa's resignation from State Parliament was a "tragedy for good governance in New South Wales".

The Accurate One today had his contract with Sydney radio station 2GB renewed through to June 2013. Part of the deal included the cancellation of more than 11 million options held by the Parrott group of companies in Macquarie Radio Network (owners of 2GB) since he was first poached from 2UE in 2002, paid out at 40 cents per option, replaced by the issue of 4 million options to the Parrott valid for the next four years.

Which means that the most overrated radio jock in Sydney's history (and that's one big statement) gets four and a half million Pacific Pesos upfront.

(It's subject to shareholder approval, but hey.)

Tis the season of excessive stock renumeration packages, fa la la la la....