Peter Lowy is a major player in Jewish Los Angeles and a major philanthropist.<\/p>\n
From the Australian website Crikey<\/a>:<\/p>\n The Lowys say they\u2019ve deserved their $300 million in cash over two decades to run Westfield. Shareholders might disagree, and there\u2019s a course of action if they do.<\/p>\n …Westfield chairman Frank Lowy came up with a ripper yesterday.<\/p>\n When challenged on the question of why Lowy family members have been paid more than $300 million in cash over the past 20 years\u2009\u2014\u2009as opposed to Kerry and James Packer not taking a single dollar from public companies\u2009\u2014\u2009the reply was as follows:<\/p>\n \u201cFor my labour I expect to be paid an amount that reflects my service.\u201d<\/p>\n He then made the following statement on behalf of his boys, Westfield\u2019s joint managing directors Peter and Steven Lowy, who pocketed about $18 million between them in 2012:<\/p>\n \u201cI rarely speak for Peter and Steven, but on this occasion I can assure you that this is the only basis on which we are prepared to continue to provide our services to the group.\u201d<\/p>\n HERE’S ANOTHER STORY FROM AUSTRALIA<\/a>:<\/p>\n Betty was playing in Frank Lowy’s yard when she was about eight when a fight erupted. “What would you know?” Peter Lowy, the son of the other shopping centre tsar, screamed. “You’re adopted. You came from a home.”<\/p>\n Betty ran up the stairs to her mother and father. Betty says. “I just looked at Dad and screamed, ‘Am I adopted? Peter said I am adopted’.”<\/p>\n Saunders shrugged and said: “Yes you are.” He turned and continued his conversation.<\/p>\n ” I didn’t care,” Betty says. “I was just pissed off that I lost the argument with Peter. I thought nothing off it then. They were my parents and it changed nothing.”<\/p>\n Others would bring it up later, when $1.1 billion was on the line.<\/p>\n","protected":false},"excerpt":{"rendered":" Peter Lowy is a major player in Jewish Los Angeles and a major philanthropist. From the Australian website Crikey: The Lowys say they\u2019ve deserved their $300 million in cash over two decades to run Westfield. Shareholders might disagree, and there\u2019s … Continue reading