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Ann: Appendix 4D December 31 2017, page-11

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Just_a_guy

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23/03/18

17:00

Post #: 31987009
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Originally posted by madamswer ↑

On the most recent conference call, the last question asked Samantha whether she travels business class on her overseas work trip, to which she replied that she did.
Out of interest do others feel this is appropriate for a company of this size and profitability?
Obviously I’d prefer her to travel in economy class, but realise brief trips that require work/presentations etc may be more productive if the traveller has slept, which may require a business class ticket.
Ironically I wish he’d asked about domestic travel, as I’d be more annoyed about business class travel on these trips."

This is a total non-issue, and the person who asked it should really also have asked about the kind of place the company is headquartered and the quality of the furnishings in the CEO's office and whether or not the company maintains a hospitality suite at the MCG, if he wanted to get a full picture of the extent to which corporate excesses exists in the company.

I'm no apologist for executive largess, but what I do know is that Australia is a darn long way from Melbourne to Chicago, the location of SDI's US base. Ditto for Europe. And I fully expect that any self-respecting executive will spend a large portion of that 30-hour schlep catching up on some work (when he/she is not asleep). Putting in an 10-hour working shift is barely manageable in business class; in economy it is totally impractical.

And, as you say, to arrive at the other end in reasonable shape to be able to think remotely lucidly and cogently is important.

I am more than happy for the people who manage my companies to fly up the front of the plane for any international flights.

There are a multitude of other abuses of executive power to monitor and worry about, which are far more wasteful than the extra $8k or $10k (or whatever it is) for a business class ticket three or four times per year.

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Thanks for your time going over those two questions. I too am happy for them to keep a decent cash balance, and keep upping the dividend.
With regards to business class - You’re right it’s not as though we’re comparing Sdi with rjr nabisco.

SDI Price at posting: 55.0¢ Sentiment: Hold Disclosure: Held
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Ann: Appendix 4D December 31 2017, page-11

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