Hydro One executive wages soar as the utility is privatized

[tay]

The new boss at Hydro One — a company recently on the hot seat for widespread overbilling of customers — is making triple what his predecessor earned before privatization.

Chief executive Mayo Schmidt started work Sept. 3 and by the end of the year will enjoy $1.36 million in base pay, incentives and pension value. The man he succeeded, Carmine Marcello, got $1.2 million for all of 2014.

Details of what critics called an “exorbitant” pay packet — which could climb to $4 million annually — came Friday as the government issued a prospectus for investors with Hydro One preparing to sell shares on the stock market this fall.

Soaring executive salaries under the controversial privatization by Premier Kathleen Wynne will nudge electricity bills higher, opposition parties warned.

“If you’re an executive, the lottery just opened,” said New Democrat MPP Peter Tabuns, his party’s energy critic.

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New Hydro One boss’s pay packet a shock to some | Toronto Star

 

[petros]

They can't sell it off until the class action suit is settled.

 

[Walter]

Good for them.

 

[darkbeaver]

The free market triumphs again.

 

[petros]

What else is in the Ontario going out of business sale?

 

[Jinentonix]

What else is in the Ontario going out of business sale?

The Wynned sock's morals and ethics.


Oh wait, she'd need to have those in the first place.

 

[lone wolf]

I wonder what lots of salt and calcium chloride (brine solution) does to Wynnemills?

 

[IdRatherBeSkiing]

So when they triple power rates, now you know way.

 

[coldstream]

Adam Beck, the founder of Ontario Hydro, defined its mission as "power generation at cost in perpetuity". Only a degenerate incompetent like Kathleen Wynne would see a sell out to the degraded, greed infested Global investment organism is not a full scale betrayal of Ontario's energy infrastructure and security.. which will have the most disastrous social and economic costs in the future.

 

[AnnaG]

Why did I just get a mental picture of Ontarians "eating cake". (Sorry for the reference, Ms. Antoinette ... but not terribly sorry).

 

[taxslave]

There are certain benefits. Ontario residents will not be on the hook when one of the nukes melts down. It will open the door to competition in the hydro market.It will prove once and for all that OIl caused Dutch Disease is a myth and it is Ontario provincial politics that sunk manufacturing. The rest of the country will get a good laugh when the Ontario elite are battling each other for jobs at the old folks home since that will now be their only industry besides candle making.

 

[coldstream]

There are things that in any well ordered economy should be publicly owned.. energy, communication and transportation infrastructures.. and utilities.

That rancid buffoon Mike Harris... managed to sell of some the road system.. and that degenerate dyke hag Kathleen Wynne is in the process of selling off the crown jewel of Ontario's public assets in its energy system.

The 'Free' market nonsense has so infested the political culture.. that the electorate can't see they are being sucked dry and swindled by 'capitalist' parasites. These people are leeches on the lifeblood of any economy.

It is engendering an economic system without integrity or substance... that will be jarred by ever more violent shocks until the whole thing collapses into chaos.

 

[Tecumsehsbones]

There are things that in any well ordered economy should be publicly owned.. energy, communication and transportation infrastructure.. and utilities. That rancid buffoon Mike Harris... managed to sell of some the road system.. and that degenerate dyke hag Kathleen Wynne is in the process of selling off the crown jewel of Ontario's public assets in its energy system. The 'Free' market nonsense has so infested the political culture.. that the electorate can't see they are being sucked dry and swindled by 'capitalist' parasites. These people are leeches on the lifeblood of any economy.

I woulda thought you'd go for church ownership.

 

[taxslave]

I woulda thought you'd go for church ownership.

He might go for church ownership of government but not the other way.

 

[coldstream]

The Church (there is only one).. founded on the Rock of Peter, IS the Mystical Body of Christ.. and beyond human 'ownership'.

 

[Tecumsehsbones]

Gotta love that Mythical Body of Christ.

 

[AnnaG]

The Church (there is only one).. founded on the Rock of Peter, IS the Mystical Body of Christ.. and beyond human 'ownership'.

Baloney. I bet there is at least a dozen churches in the town nearby here. Oooohhh, you mean the Church of Modern Day Inquisitors. I get it.
Do you critters still dunk and burn witches? We humans and our laws don't like that sort of thing, you know.

Gotta love that Mythical Body of Christ.

Tasted like unflavoured ricecake when I went to church. I was expecting a chicken-like flavour.

 

[Tecumsehsbones]

Baloney. I bet there is at least a dozen churches in the town nearby here. Oooohhh, you mean the Church of Modern Day Inquisitors. I get it.
Do you critters still dunk and burn witches? We humans and our laws don't like that sort of thing, you know.

Tasted like unflavoured ricecake when I went to church. I was expecting a chicken-like flavour.

Hey, I like church!

It's the only place you can get a drink on Sunday morning.

 

[Danbones]

The Church (there is only one).. founded on the Rock of Peter, IS the Mystical Body of Christ.. and beyond human 'ownership'.

ummm
the aztecs where waiting for the ORIGIAL people of the cross
they got the church you mention instead
thats why most of them are dead and have no land or gold
and the church now has it all
the fat rich don't give nothing away PRIVITIZED church
which like privitized hydro, is just one more downfall of soooo many people
The Working Celtic Cross
read this and weep, and please get this abomination known as religion out of government, science, business, and utility delivery ...

"first they had the bible and we had the land, they said close our eyes and pray, and when we opened our eyes we had the bible and they had the land" Creto Mutwa senior zuzlu shaman

moral of the story:
nothing has changed
don't close your eyes or you're pray

There are certain benefits. Ontario residents will not be on the hook when one of the nukes melts down. It will open the door to competition in the hydro market.It will prove once and for all that OIl caused Dutch Disease is a myth and it is Ontario provincial politics that sunk manufacturing. The rest of the country will get a good laugh when the Ontario elite are battling each other for jobs at the old folks home since that will now be their only industry besides candle making.

ONT won't be on the hook for a meltdown?
hmmmm
hard to be on the hook when you are in the grave
just ask the cancer dead babies around Fukushima
just sayin

 

[AnnaG]

Hey, I like church!

It's the only place you can get a drink on Sunday morning.

Really? Where do you live? The Vatican? lol
Our gov't liquor stores are closed SUndays and holidays, but we have private beer and wine stores (actually they sell pretty much any type of booze), and a lot of bars and pubs are open on Sundays. You should be Canuck. It's a nice life we have here. =)