Thursday, June 28, 2012

Thumb in the eye of BC taxpayers

The BC Liberal policy is firmly established. Reward your important friends and give the rest - teachers, paramedics, etc. - a firm kick in the ass. Of course, agency directors and senior bureaucrats, especially ones who know where skeletons are buried, are prime beneficiaries.

Remember when David Hahn "resigned" in 2011 and it was announced that he would gain no severance package? Well, turns out he doesn't need one. He did get a healthy raise in fiscal 2012, including a huge increase to his supplementary pension, even though he departed three months before the fiscal year ended. Also, we were told Mike Corrigan, the new CEO, would receive about $564,000.

The SEDAR filing by BC Ferries gives the real numbers, without spin.

As with the Community Living British Columbia (CLBC) scenario, truth has been a casualty, abused in deadly fashion by Christy Clark's Liberal government. Most of the information Liberals gave out concerning executive compensation at BC Ferries has been intentionally deceptive.

For example, Hahn was employed for 9 months instead of 12 but cost BC Ferries, including the supplementary pension liability, $1.78 million, an increase of 25%.

Second-in-command Mike Corrigan - the person who has demonstrated inadequate knowledge of BCF operations (read Lying like a cheap rug) - cost $955,615, nearly four hundred thousand more in 2012 than in 2011, a 65% increase.

Number two at BC Ferries, Michael Corrigan, takes helm, The Globe and Mail, Dec 7. 2011
"Mr. Hahn attracted controversy for his $1-million compensation package, but the B.C. Ferries board of directors said Mr. Corrigan's total compensation will be about 60 per cent of that, about $564,000.

"Mr. Lekstrom said Mr. Corrigan's salary package meets government compensation guidelines introduced last year after Mr. Hahn's salary, including bonuses and pension, raised widespread concerns and earned him the million-dollar-man nickname.

"...BC Ferries' services board chair Donald Hayes said Mr. Corrigan's appointment as ferries boss saves the company $600,000 through his salary and the elimination of Mr. Corrigan's old position as chief operating officer.

"Mr. Hayes said the company previously announced it's phasing out long-term bonus programs for senior executives, saving another $700,000 a year..."
Scribd BCFS 4 Year Exec Comp Report
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21 comments:

  1. BC Liberal press officer Sean Leslie was quick to provide a little deflection from the executive compensation issue. This was his Tweet early this afternoon:

    "By my count, about 1,000 BCFerries employees made over $75,000 last year."

    I asked Leslie if he was reporting from publicly available documents or from a BC Ferries briefing. He didn't reply and I can't locate public documents about Ferries staff earnings in fiscal 2012.

    ReplyDelete
  2. Intellectual TerroristJune 28, 2012 at 3:28 PM

    The BC Liberals are like a small child trying to tell an unconvincing lie. They're too stupid to realize that they get busted and made to look like idiots every single time!

    ReplyDelete
  3. As a paramedic who is in my 6th year out of 8 of no increase at all ( the other two were less than the rate of inflation for those years ) I can only conclude that the BC Liberals think that what I do is not important at all, at least not compared to these guys.

    ReplyDelete
  4. David Moseley, the head of Washington State Ferries, earned $142,596 in 2011 and his operation did not see drops in traffic the way BC Ferries did.

    ReplyDelete
  5. *** Itellectual Terrorist,
    Yes you are correct, they're too stupid to realize that they get busted and look like idiots every single time.
    Unfortunate for us they are smart enough to realize they get away with it every single time without consequence.

    ReplyDelete
    Replies
    1. Technically they don't get away with it.It's just that they're unaccountable and they know it.

      Delete
  6. Now we need to find a way of getting ALL citizens of BC to pay attention. I can understand why the direct beneficiaries of Liberal policies continue supporting them but that doesn't account for the 30% or so who continue to stay onside. Most of those people are simply not aware of what goes on.

    ReplyDelete
  7. "Net Zero"...only for the management friends of government...gotta keep em on side, for the upcoming election, you know.

    Time to throw out the "party in office" and roll back management salaries...what a joke. If this was a company, they would be broke.

    The next election is going to be a "swan song" for the BC Lib's...good bye and good riddance.

    ReplyDelete
  8. With tongue in cheek I made a comment over at the Tyee. "As taxpayers (thus the actual employers of these people) we should seek applicants under the BC Temporary Foreign Worker Progam. This government already acknowledges it is deemed ethical to pay them less for the same work."

    Not tongue in cheek, but a repeat of a previous offer I made on one of your older posts ...hire me for half the salary, if I can't do 80% of the job within 4 weeks of walking in off the street then fire me....of course I would be eligible for the same severance package.

    I was going to add the proviso it would only be fair to give me a couple of weeks of training....then I realized I would be learning all the wrong stuff and be put on the wrong path from the getgo.

    I don't want anybody who makes less than 75,000 per year working on the engines, drives and dock equipment, nevermind captain the vessel. Don't give me the poor maintenance story as often it is highly paid (and politically appointed) administration that make decisions limiting the ability of real workers to do a professional job.

    If it is the parking lot attendants making over 75,000 per year maybe he has a point.

    ReplyDelete
  9. Thank God BC Ferries is bleeding money like a sieve, if they were doing well Hahn and company would deserve a salary of a TRILLION dollars!

    ReplyDelete
  10. Jeepers, creepers, any employee making $75,000 would even be able to buy house in Vancouver - TWENTY YEARS AGO!

    ReplyDelete
  11. A high-achieving graduate with a two-year college diploma could run the ferry corp into the ground and the red as well as has been done this decade. Give him or her $60,000 a year, a refillable cup at the ferry snack bar, and a chance to ride up top with the captain and we'd be tens of millions ahead! Actually, I bet he or she would do a fine job! I have much more faith in the youth of today than my own generation.

    ReplyDelete
  12. Thinking the words to descibe what I feel at the moment ..obscene doesnt quite capture what I think
    thanks Norm for posting.. yet another sad tale of "the best money managers" running the province

    ReplyDelete
  13. Senior executives with absolutely no accountability. They get paid to run corporations into the ground and then receive bonuses. When will Canadians see what is going on here? It is a class war, always has been and always will be. The rich are entitled, the poor be damned.

    ReplyDelete
  14. LUV the cartoon a picture paints a million words......

    ReplyDelete
  15. A bit off-topic, but there was nowhere else to put this... When I was at the local gov't liquor store today, I asked for a price list and got a multi-page pamphlet on all the latest LCB product pricing. I recommend that others ask for this as well, and keep it for posterity, to compare to the privatized prices we probably will see in the coming years.

    The store manager said if the sale of the LDB distributorship goes through, they will be able to do an end-run around any union action — and freely supply the private liquor stores. He didn't see much future in the unionized LCB stores. He also mentioned that there's a 2-tiered pay scale — as in major food stores — one for long-established employees and a lower scale for newer hires. He figured that has been in place for the past 5 years.

    ReplyDelete
    Replies
    1. I added a page near the top "Farrago - for Readers" on which orphan comments, ideas or requests can be written by readers.

      Delete
    2. Thanks Norm. Good idea.

      It may need to be cleaned out, once in a while.

      Delete
  16. Jeepers, creepers, any employee making $75,000 would even be able to buy house in Vancouver - TWENTY YEARS AGO!

    exactly....who is behind trying to make us think we should be happy with a wage that won't be able to raise a family and own a home in whichever area where we grew up....that figure would have been exhorbitant a few years ago but certainly not now...especially if the figure applies to someone that actually adds value by way of fixing or maintaining something rather than shuffling paper

    ReplyDelete
  17. Jeepers, creepers, any employee making $75,000 would even be able to buy house in Vancouver - TWENTY YEARS AGO!

    exactly....who is behind trying to make us think we should be happy with a wage that won't be able to raise a family and own a home in whichever area where we grew up....that figure would have been exhorbitant a few years ago but certainly not now...especially if the figure applies to someone that actually adds value by way of fixing or maintaining something rather than shuffling paper

    ReplyDelete
  18. If David Hahn is worth that kind of compensation maybe HE should be running the Province and Crispy Clark could run the Ferry Corporation!
    Just kidding!
    Makes you wonder though. If it takes a million dollars to (mis)manage the ferry boats, how much does it take to find someone to run the Province?

    ReplyDelete

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