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Not only are boards complicit in the executive compensation rip-off, but the government kicks in a significant share as well.
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There's been a lot of outrage over a new report that shows that Canada's wealthiest CEOs are paid 193 times more than the average Canadian. But there's an even darker side to the story. Ordinary taxpayers are subsidizing those multimillion-dollar salaries, courtesy of loopholes in our tax system.
You think that's crazy? Check out the U.S.
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"Making it rain" for a top executive is no way to make money for shareholders.
There was a 21% spike in complaints about banking services in 2015.
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Nine million dollars for a year's worth of work ain't bad.
"The CFO is no longer a bean counter."
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Chief executives at the largest listed companies in the U.S. earn 303 times more than the average industrial worker, according to new research from the Economic Policy Institute in Washington, D.C. C...
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Regulators have a poor track record of getting executive pay right. Indeed, some say U.S. Congress has been the single greatest driver of increasing CEO pay. According to a survey by Mercer, a majority of UK board members believe the executive pay model is broken. Here are three ways to fix it.
Some corporate boards are exclusive networks of corporate acquaintances and cannot be trusted to keep CEO pay in check, according to a study by researchers at the Ted Rogers School of Management at Ry...
MONTREAL - Former Bombardier CEO Pierre Beaudoin took a large pay cut last year as the transportation giant struggled to develop new aircraft and swung to a loss.The 52-year-old grandson of the compan...
TORONTO - Former chief executive Ed Clark received $11.4 million in total compensation during his final year at the helm of TD Bank (TSX:TD).That includes his salary, cash bonus and stocks, as well as...
OTTAWA - Canada's top-paid CEOs saw their compensation climb at double the rate of the average Canadian between the depths of the recession and 2013, a new study has found.The country's 100 highest re...
Asked if bank chief executives are paid too much, Toronto-Dominion Bank CEO Ed Clark answers with an unhesitating "yes." The man who led Canada Trust before stepping in to run the whole bank in 2002...
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The gap between CEO earnings and workers’ pay is wider in Canada than almost anywhere else in the world, according to data from the AFL-CIO. The U.S. labour group’s database shows Canadian CEOs on ave...
Here’s a piece of investment advice you probably weren’t expecting: Stay away from companies that pay their CEOs the largest salaries. A study put together by academics at three business schools in th...
CEO compensation at the top 350 U.S. companies is 296 times the wage of an average worker in their industry, an analysis by the Economic Policy Institute shows. In 1965, top CEOs made 20 times the wa...
CEO pay in Canada grew at nearly four times the pace of average earnings in 2013, according to data from Global Governance Advisers, cited at the CBC and Globe and Mail. The median total pay for a CEO...
NEW YORK, N.Y. - They're the $10 million men and women.Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a Standa...
CALGARY - WestJet (TSX:WJA) chief executive Gregg Saretsky earned nearly $3.2 million last year, down slightly from the nearly $3.5 million he earned in 2012, as the size of his bonus shrunk.According...
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Corporate tax giveaways mean that the federal government has foregone billions of dollars in revenues. To pay for the tax breaks, Ottawa has borrowed billions of dollars and driven up the national debt. Now, the government has chosen to make big cuts to public services essential to Canadians in order to pay the bill for its tax giveaways.
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In the public sector in Ontario, there have been several governance scandals, including Ontario Power Generation, eHealth, Ontario Lottery and Gaming Corporation, and Ornge, that have included compensation and spending. What this reveals is defective oversight. Governance is not government.
2014 will be the year that workers stop sitting and taking the abuse that has been heaped on them by their employers since the financial crisis. You can only push people so far before you become the company no one wants to work for.
After the US, Canada has the second highest CEO-to-worker pay ratio. Last year, for instance, the CEO of BCE, George Cope, received $11.1-million in compensation. This staggering sum is nearly 200 times more than what a Bell Canada technician in Toronto makes and 2,000 times the pay of an Indian call-centre worker who responds to Bell customers.
"Peer groups" is a basket of similar or larger companies compared to one company, and "benchmarking" is a decision to pay a CEO at the 50th, 75th or 90th percentile of other CEOs. average. This one issue -- benchmarking against peer groups -- has been responsible for CEO pay increases more than any other.
It may be Labor Day in America, but a Chinese CEO is getting into the true spirit of the holiday by celebrating his workers in a big way. For the second consecutive year, Lenovo CEO Yang Yuanqing pla...
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A new report from the Institute for Policy Studies points to a weak link between performance and pay among some of the highest-paid CEOs of American companies, and urges the U.S. government to push th...
Macleans magazine recently released its rundown of who earns what in Canada, crunching the salary numbers for everyone from a rickshaw driver in Toronto to a Supreme Court of Canada chief justice. Som...
Taken as a whole, very high CEO to worker pay ratios can signal systemic wealth disparity. CEO pay has been outstripping executive and worker pay year over year by a wide margin because of structural issues related to "peer group benchmarking" (the very way CEOs are paid). This structural pay inequity is unrelated to CEO performance.
It is hardly surprising that boards do not focus on value creation, strategic planning, or maximizing company performance, survey after survey, as much as they do on compliance. Their compensation structure does not incent them to. Here is what is needed to align director pay with shareholder interests:
MONTREAL - Air Canada CEO Calin Rovinescu's total compensation more than doubled to $9.5 million in 2012 thanks to a $5-million retention bonus.The airline (TSX:AC.B) said Friday in a regulatory filin...
Canada's bank CEOs were among some of the highest-paid in North America, and among some of the most overpaid as well, according to a new survey from Bloomberg Markets magazine. Bloomberg compared the...