Teddy Bautista gets 25000 euros a month pension
The head of the SGAE enjoy a comfortable retirement thanks to the retirement agreement closed with the entity that guarantees a lifetime pension that nearly equals his current salary: 323,773 per year
Eduardo Bautista has been guaranteed a golden retirement when he leaves for work at the front of the SGAE. The chairman of the governing board of the entity charged a pension of 24,511.49 euros per month, according to estimates by consulting firm Watson Wyatt to which access has been REASON. That is, the executive will receive almost € 300,000 a year for this purpose, regardless of other income that may be perceived as its copyright.
In his report, Watson Wyatt does not identify the recipient of this juicy pension, but it says her date of birth: May 25, 1943, as reported in the official biography of the Baptist.The report is dated as of December 31 last year and said that his retirement “can occur at any time of the decision. SGAE sources unofficially confirmed the terms of this covenant with their top management.
Individual agreement
According to individual agreement signed with the company, Eduardo Bautista is entitled to receive a monthly pension is determined as 60 percent of monthly salary to the retirement date plus a fixed amount of EUR 5126.41. In 2009, the pensionable salary executive amounted to 323,773 euros. “The insurer, having beaten the payment of the benefit at age 65 the insured, has a new date for the payment of the benefit and certify that the monthly income amounts to 24,511 non-reversible, 49 euros, “says the report. That is, according to estimates by Watson Wyatt, Eduardo Bautista would have guaranteed a pension that exceeds 90 percent of your current salary and that touches the average income of air traffic controllers, whose bulging pay has caused such controversy.
Two million in pension
In July last year, reason and found that the SGAE had invested over two million in a pension plan for its executives between 2002 and 2008. Then the agency justified this expense with the argument that the Baptist “for many years received total compensation of 300 euros per week. ’[The pension plan] was agreed by the Board as just compensation to the figure of a senior executive during his tenure has increased by 1512 percent revenue by copyright, to guarantee at the time of his retirement one pension commensurate with their responsibility, “said SGAE in a letter to this newspaper at that time.
The bulging numbers are managed to the retirement of directors of the institution -19 people, according to SGAE’s own accounts, in contrast to the pension fund benefiting employees. Since 1997, when the outsourced entity that plan, the amount for each worker has grown in line with inflation. Thus, in 2002, it contributed a total of 660.54 euros per employee and six years later, in 2008, came to 807.19 euros.
The revelation of the future pension Baptist comes at a time of intense economic hardship in the body which protects from a quarter century ago. In 2008, the SGAE lost money for the first time in two decades: the deficit was 1.35 billion euros, according to the audit of its accounts by the firm BDO Audiberia. One of the causes of these losses was that the copyright collection fell by 11.5 percent in that year, reaching 333.9 million euros.
SGAE shielded these negative data to design a plan template that you setting course to dismiss more than twenty employees in recent weeks for “lack of productivity” and “organizational reasons”. In response to this round of layoffs, the works council demanded that the Ministry of Culture to intervene the institution with the “alarming situation” created by management Baptist. Specifically, they complained that the agency “mortgage future revenues” with the “construction and rehabilitation of buildings” and “entrepreneurship profit.
The evidence of monopoly
In this economic crisis joins the pole that struck him last month the National Competition Commission, which charged that the administration entities with SGAE to the head, operating under a “monopoly”. According to experts of the Commission, this monopoly would explain the “lack of transparency ‘,’ unfair charges and / or discriminatory” and the management difficulties ‘online’ copyright. So this agency advised that those agencies should stop being a non-profit entities to become any type of legal form.
Therefore, the Baptist began to face opposition in their own management bodies of the entity. Thus, the Board last month was the most convulsive in memory. The most critical was the editorial members of the college who do not share their real estate investments, as the network of theaters artery. So moved was the meeting itself Eduardo Bautista admitted that there is “a difference of opinion” with this group, but denied going to resign in the coming months, as has been speculated. The situation of the entity that is so critical that directs Baptist has adopted a low profile in recent times. Thus, only has starred in public appearances and has delegated this work in their principal subordinates. It has also built bridges with former political enemies as the Partido Popular. As this newspaper revealed this month, a group of Ibercrea-society in which the SGAE, IEA, and cedar-AISG met with several leaders in Genoa training.
The “tip” of copyright
Besides the pension SGAE Eduardo Bautista enjoy another bonus when you retire your income by copyright. He himself has acknowledged that charges about 4,000 euros per year, mainly by the hard “cycle”, the song “Get on Your Knees “and the soundtrack of” Peppermint Frappe “. However, his career as a cultural manager has reported an income far greater than his years as a musician and producer. SGAE argues that earnings are in line Baptist, or even below, the other organizations of similar economic level. It is true that a gratuity and not unusual in companies with over 400 employees. However, a hue makes the amount of your pension is striking: SGAE is a rights management entity and, therefore, is a nonprofit association
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Walter Koenig and his wife Judy had moved to Vancouver on Wednesday to find his son after the actor in the American sitcom “Growing Pains” disappeared on 14 February in the Canadian city.
Canadian police said the body of the actor, 41 years old, was discovered in a wooded area of Stanley Park in Vancouver, one of the largest urban parks in North America, by family and friends.
Before the discovery of the corpse, her parents had requested the public’s help in locating Vancouver his son who suffered from depression.
According to local media, the deceased had stopped taking medication for a year.
Koenig disappeared in Vancouver after selling all his possessions in California, where he resides, and travel to Canada to visit friends.
On its website, the father of actor explained the disappearance of her son.
‘I think it’s something that has been second nature for some time. Not a single trauma. There is an episode. There is nothing like that. I just want to say it’s a good person. Everyone who knew him held him in great esteem.
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His disappearance was reported on 18 February.
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The Honorable Louise Slaughter
2008 Democratic National Convention
Wednesday, August 27th, 2008
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I’m Louise Slaughter of upstate New York.
Cheri, Nevada, writes: “My husband has Parkinson’s and was forced to retire. He has been with disabilities for three years and Medicare does not cover their drug needs. I have to pay my own insurance premiums, so our costs of Medicare are quite high. Our health system does not work.
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Barack Obama’s plan will give all Americans better choices and lower prices. The health plan of John McCain is just more of the same-and families like Cheri can not afford more of the same.
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