Monday, January 30, 2006

Canada's Two Solitudes

No not Quebec and Canada or Alberta and Canada. This is the economic solitudes, where the corporate elite get the baked Alaska while the average Canadian has to work more than one jobs because of low pay. Where unionized workers fight hard for a piddly 2.5% wage increase and still face hostile management that wants concessions, while Bank Executives get wage and benefit increases of 24%.

Low-paying work the downside of jobs picture
Toronto Star - 4 hours ago
The growth of low-paying and part-time work is taking the shine off a 30-year low in Canada's unemployment rate, according to a CIBC World Markets report.
Job quality remains weak: CIBC Globe and Mail
Canadian job creation high but quality low-CIBC Reuters
Ottawa Business Journal - all 12 related »

Bank executives' pay mirrors 2005 results
Toronto Star - 27 Jan 2006
Top executives of Royal Bank of Canada and Bank of Montreal saw their 2005 pay packages move in different directions last year, reflecting the state of affairs at their two operations.
The RBC dynasty continues Globe and Mail
RBC pays CEO C$9.5 mln for 2005
Globe and Mail - all 5 related »

And don't forget Big Oil and their record profits. Makes Alberta' Prosperty Bonus look like peanuts. Heck it makes Alberta's royalities and taxes off oil and gas look like peanuts.

Record profits spark new backlash against Big Oil
Reuters - 2 hours ago
It's hard to celebrate a profit of nearly $11 billion when almost no one wants you to enjoy it.
Exxon adds it all up: $36 billion International Herald Tribune
HOUSTON Exxon Mobil, the largest U.S. energy company, posted Monday the highest profit in U.S. corporate history, amplifying concerns over the good fortune of oil companies while soaring energy prices pressure consumers


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