CBC execs pocket bonuses while workers laid off

[Locutus]

OTTAWA - As CBC continues to cut jobs and cancel programs in the wake of budget cuts announced in March, the head honcho of the organization is defending big bonuses to senior ranks.

CBC president Hubert Lacroix was questioned recently about bonuses for top executives, which in recent years have totalled between $775,000 and just under $1 million for the 10 to 12 most senior people.

Lacroix scoffed at the question.

"Your numbers are way off," Lacroix said after speech to the Economic Club last week in Toronto.

"We have a short-term incentive plan that pays out - and it's a short-term incentive plan - that pays out according to the meeting of targets...

"We have no intention of affecting the short-term incentive plan that is available to the six of 700 managers that we have."

Yet documents released under access to information paint a different picture.

In the fiscal year ending March 2010, the last year for which figures are available, the top 10 executives split a bonus kitty of $778,799, the year before it was $888,699 and for the fiscal year ending March 2008 the top 12 executives split a bonus package of $964,860.

CBC refuses to say how much each executive received but did reveal that the top bonus for fiscal 2008-09 was $165,090 or 3.5 times the average income of a full-time Canadian worker.

That bonus was also paid out at a time when CBC was having to layoff hundreds of workers to deal with the global recession.




CBC execs pocket bonuses while workers laid off | Canada | News | Toronto Sun

 

[mentalfloss]

Suddenly, the right is concerned with the 1%.

Must be that sense of entitlement kicking in.

 

[Locutus]

Suddenly, the right is concerned with the 1%.

Must be that sense of entitlement kicking in.

 

[mentalfloss]

Ha!

A right wing paper preaching a socialist agenda?

No, I'm actually quite chuffed now.

 

[captain morgan]

They're not preaching a socialist agenda, they are looking for accountability from a socialist newscaster

 

[mentalfloss]

They're not preaching a socialist agenda, they are looking for accountability from a socialist newscaster

Ah yes, accountability in a way that would make the OWS movement blush.

My my, how far the mighty have fallen.

 

[captain morgan]

Great, then we can expect some answers on this really soon.

 

[TenPenny]

CBC Execs getting bonuses when the budget is being cut and jobs slashed is no more acceptable (less, actually) than wall st traders and execs getting bonuses while taking gov't bailouts.

Fire the lot of them.

 

[mentalfloss]

CBC Execs getting bonuses when the budget is being cut and jobs slashed is no more acceptable (less, actually) than wall st traders and execs getting bonuses while taking gov't bailouts.

Fire the lot of them.

Or tie CEO raises to profit or performance or something similar.

(It would be the capitalist thing to do)

 

[TenPenny]

Or tie CEO raises to profit or performance or something similar.

(It would be the capitalist thing to do)

That worked well for Nortel.

 

[mentalfloss]

That worked well for Nortel.

Really? Never heard of that scenario, though I know Nortel went bust.

Would firing these CEOs prevent the same behaviour for their replacements?

 

[TenPenny]

Really? Never heard of that scenario, though I know Nortel went bust.

Would firing them prevent the same behaviour for their replacements?

Do a little research into what went on at Nortel.

 

[mentalfloss]

Do a little research into what went on at Nortel.

I'm not saying my suggestion is the only solution. Also, just be nice and give me the run down, please (and thank you).

Lastly, how do you know your suggestion is the right one?

 

[CDNBear]

Ah yes, accountability in a way that would make the OWS movement blush.

My my, how far the mighty have fallen.

What's with this kick you're on of attempting to point out hypocrisies in present positions and opinions of people you perceive as right wing, and their positions on the OWS? First Colpy, now Loc and the Capt.

I don't remember anyone saying they thought that wealth inequality didn't exist. I do remember a lot of commentary on the absolute atrocity the movement became though.

If you're going to ambiguously troll and try to assassinate peoples character. You might want to get your facts straight.

You know what I'm talking about. Like I do to you and the rest of the Usual Suspects.

 

[MapleDog]

Kinda interesting that this story is in a way related to This One

 

[TenPenny]

I'm not saying my suggestion is the only solution. Also, just be nice and give me the run down, please (and thank you).

Lastly, how do you know your suggestion is the right one?

My suggestion is to not pay bonuses if your budget is being cut and you're laying off people. I don't know if it's right, but the alternative sounds pretty stupid. Pay bonuses for running a business badly enough that you have to cut staff. What do I know, in 5 years we've gone from $2million to$10million in sales, and from three employees to fifteen.

 

[L Gilbert]

Pay bonuses for running a business badly enough that you have to cut staff.

Exactly. Sounds pretty stupid to me.

 

[MapleDog]

Exactly. Sounds pretty stupid to me.

I wouldn't say stupid,whats the right word................ah yeah "retarded"
incompetance should not be rewarded.

 

[damngrumpy]

Complain about the executives all you want, yes they are going to get a bonus
even if they are not entitled to them. You are surprised? Why? These groups
learned from the best, the free enterprise corporations, they have done this for
years, even decades and no one noticed. This didn't come from government,
it came from the business world, part of the ethics package on the back burner
I am most surprised that people are surprised.
Then the old slogan executives get deals at the expense of workers it cuts both
ways friends Remember when the BC Government wanted to stuff the Olympic
Games down our throat. You know where a select few make a pot of money and
the citizens get to pay for it for a generation?
Well all those workers who are now fighting with government for more money in
BC were complicit in a deal that saw pay increases and signing bonuses to be
sure there was no labour unrest during the games. Now of course the same
Provincial Government has no incentive to work out a deal and the workers who
gave up their hammer a few years ago for short term gain are now suffering for
their stupidity.
I have no problem with people getting bonus money, if and I mean IF, they produced
a huge benefit for the company. Unfortunately many think they should get a bonus
because the year has ended. Merritt is one thing entitlement is another.

 

[MapleDog]

Complain about the executives all you want, yes they are going to get a bonus
even if they are not entitled to them. You are surprised? Why? These groups
learned from the best, the free enterprise corporations, they have done this for
years, even decades and no one noticed. This didn't come from government,
it came from the business world, part of the ethics package on the back burner
I am most surprised that people are surprised.
Then the old slogan executives get deals at the expense of workers it cuts both
ways friends Remember when the BC Government wanted to stuff the Olympic
Games down our throat. You know where a select few make a pot of money and
the citizens get to pay for it for a generation?
Well all those workers who are now fighting with government for more money in
BC were complicit in a deal that saw pay increases and signing bonuses to be
sure there was no labour unrest during the games. Now of course the same
Provincial Government has no incentive to work out a deal and the workers who
gave up their hammer a few years ago for short term gain are now suffering for
their stupidity.
I have no problem with people getting bonus money, if and I mean IF, they produced
a huge benefit for the company. Unfortunately many think they should get a bonus
because the year has ended. Merritt is one thing entitlement is another.

But this is a little different,the money does not come from corporations,it comes from canadian tax payers pocket,and that is just wrong.