Tuesday, May 09, 2006

Nice Job If You Can Get It

CEO's in Canada saw their pay raises go up by 39%! Not in base salary but in their shareholdings that they get as bonuses. And they get bonuses cause why? Well cause they are CEO's. Not because they produced anything. As the Globe and Mail reports.

In Canada over the last year average workers salaries increased by 3.1 % And despite the long boom for capitalism, that wage increase is the average over the past twenty five years according to Stats. Canada. In other words workers have not seen anything trickle down, but have remained steady making no gains in from the boom.

Dennis Entwhistle of Telus did quite well thank you, seeing as he stalled any compensation to Telus workers for five years and then forced them out on strike.
He more than doubled his bonus from 2004.

Hunter Harrison did quite well considering the major environmental disasters his company; CN had with record accidents and derailments in Western Canada last year. But I guess he earned his compensation by thwarting fines for those accidents and payouts to the folks affected by his companies toxic spills.


Executive Compensation

How much is too much?

CEO pay soared 39% in 2005; read Janet McFarland's live discussion transcript

Investors could certainly ask that question this year. A Report on Business survey of executive compensation shows that Canada's CEOs saw their pay soar an average of 39 per cent in 2005 compared with 2004 (itself a year of huge compensation increases) as stock markets and commodity prices rocketed higher.

While salaries and bonuses climbed a modest 6 per cent last year, CEOs saw their stock option gains climb 47 per cent over 2004. CEOs on average earned $1.8-million each from exercising stock options — a number that climbs to $4.5-million if only those CEOs who cashed out options are included.

(The ROB review looked at 247 of the 279 companies that make up the S&P/TSX composite index. The others have not yet reported their compensation data for 2005.)



Executive Compensation Report 2005

RANK COMPANY CEO TOTAL($) DETAILS


1
Precision Drilling Trust Swartout, Hank $74,824,335 Expand details
Salary:$840,000 Bonus:$3,360,000 Subtotal:$4,200,000 4% chg
Other:$15,589,000 Share Units:$0 Option Gains:$55,035,331
TOTAL:$74,824,335 New option grant: 403,038 ($3,345,215)
Industry:Energy Legend Popup
2 Canadian National Railway Co. Harrison, Hunter $56,219,496 Expand details
Salary:$1,665,950 Bonus:$4,664,660 Subtotal:$6,330,610 2% chg
Other:$1,710,324 Share Units:$20,931,213 Option Gains:$27,247,347
TOTAL:$56,219,496 New option grant: 250,000 ($2,136,051)
Industry:Industrials Legend Popup
3 Nortel Networks Corp.(1) Zafirovski, Mike $37,429,297 Expand details
Salary:$305,785 Bonus:$0 Subtotal:$305,785 % chg
Other:$28,698,591 Share Units:$8,424,921 Option Gains:$0
TOTAL:$37,429,297 New option grant: 5,000,000 ($10,695,000)
Industry:Information Technology Legend Popup
4 Canadian Imperial Bank of Commerce Hunkin##, John $29,471,306 Expand details
Salary:$750,000 Bonus:$0 Subtotal:$750,000 -81% chg
Other:$2,250 Share Units:$28,719,137 Option Gains:n/a
TOTAL:$29,471,306 New option grant: 0 ($0)
Industry:Financials Legend Popup
5 Talisman Energy Inc. Buckee, James $23,330,301 Expand details
Salary:$1,104,300 Bonus:$1,988,000 Subtotal:$3,092,300 5% chg
Other:$151,704 Share Units:$0 Option Gains:$20,086,292
TOTAL:$23,330,301 New option grant: 300,000 ()
Industry:Energy Legend Popup
6 Potash Corp. of Saskatchewan Doyle, William $22,128,851 Expand details
Salary:$1,151,020 Bonus:$1,279,450 Subtotal:$2,430,470 -14% chg
Other:$165,412 Share Units:$7,672,916 Option Gains:$11,860,067
TOTAL:$22,128,851 New option grant: 225,000 ($5,351,334)
Industry:Materials Legend Popup
7 Magna International Inc. Walker, Donald $19,557,890 Expand details
Salary:$195,795 Bonus:$6,061,090 Subtotal:$6,256,885 % chg
Other:$35,600 Share Units:$13,257,872 Option Gains:$0
TOTAL:$19,557,890 New option grant: 0 ($0)
Industry:Consumer Discretionary Legend Popup
8 Power Corp. of Canada Desmarais, André $18,844,090 Expand details
Salary:$906,000 Bonus:$700,000 Subtotal:$1,606,000 1% chg
Other:$545,064 Share Units:$0 Option Gains:$16,693,025
TOTAL:$18,844,090 New option grant: 263,000 ($2,272,320)
Industry:Financials Legend Popup
9 EnCana Corp. Morgan##, Gwyn $18,162,456 Expand details
Salary:$1,475,000 Bonus:$2,660,000 Subtotal:$4,135,000 2% chg
Other:$159,171 Share Units:$1,916,000 Option Gains:$11,952,283
TOTAL:$18,162,456 New option grant: 150,000 ()
Industry:Energy Legend Popup
10 Bank of Nova Scotia Waugh, Richard $17,180,536 Expand details
Salary:$1,000,000 Bonus:$1,500,000 Subtotal:$2,500,000 -3% chg
Other:$275,801 Share Units:$3,000,000 Option Gains:$11,404,738
TOTAL:$17,180,536 New option grant: 224,788 ($3,000,000)
Industry:Financials Legend Popup
11 Cameco Corp. Grandey, Gerald $16,567,579 Expand details
Salary:$771,300 Bonus:$600,000 Subtotal:$1,371,300 -1% chg
Other:$6,449 Share Units:$2,433,600 Option Gains:$12,756,231
TOTAL:$16,567,579 New option grant: 210,000 ($2,558,325)
Industry:Energy Legend Popup
12 Peyto Energy Trust Gray, Donald $15,512,035 Expand details
Salary:$210,000 Bonus:$15,302,021 Subtotal:$15,512,021 14% chg
Other:$0 Share Units:$0 Option Gains:$0
TOTAL:$15,512,035 New option grant: 120,000 ()
Industry:Energy Legend Popup
13 TELUS Corp. Entwistle, Darren $14,096,690 Expand details
Salary:$970,000 Bonus:$1,200,000 Subtotal:$2,170,000 54% chg
Other:$149,635 Share Units:$4,473,780 Option Gains:$7,303,221
TOTAL:$14,096,690 New option grant: 140,200 ($1,693,616)
Industry:Telecom Services Legend Popup
14 Power Corp. of Canada Desmarais Jr., Paul $13,881,209 Expand details
Salary:$906,000 Bonus:$700,000 Subtotal:$1,606,000 1% chg
Other:$455,021 Share Units:$0 Option Gains:$11,820,187
TOTAL:$13,881,209 New option grant: 263,000 ($2,272,320)
Industry:Financials Legend Popup
15 George Weston Ltd.(2) Weston, Galen $13,443,682 Expand details
Salary:$1,600,000 Bonus:$460,000 Subtotal:$2,060,000 -10% chg
Other:$10,000 Share Units:$2,830,059 Option Gains:$8,543,633
TOTAL:$13,443,682 New option grant: 187,383 ()
Industry:Consumer Staples Legend Popup
16 Sherritt International Corp. Delaney, Ian $13,254,590 Expand details
Salary:$750,000 Bonus:$112,500 Subtotal:$862,500 15% chg
Other:$331,405 Share Units:$0 Option Gains:$12,060,670
TOTAL:$13,254,590 New option grant: 0 ($0)
Industry:Materials Legend Popup
17 Alimentation Couche-Tard Inc. Bouchard, Alain $12,048,833 Expand details
Salary:$850,000 Bonus:$424,307 Subtotal:$1,274,307 26% chg
Other:$0 Share Units:$0 Option Gains:$10,774,500
TOTAL:$12,048,833 New option grant: 0 ($0)
Industry:Consumer Staples Legend Popup
18 Alcan Inc. Engen##, Travis $11,850,529 Expand details
Salary:$1,817,400 Bonus:$4,240,600 Subtotal:$6,058,000 38% chg
Other:$-1,044,265 Share Units:$6,836,756 Option Gains:$0
TOTAL:$11,850,529 New option grant: 450,100 ($6,058,000)
Industry:Materials Legend Popup
19 MDS Inc. Rogers##, John $11,730,988 Expand details
Salary:$425,000 Bonus:$195,000 Subtotal:$620,000 -16% chg
Other:$10,772,801 Share Units:$338,203 Option Gains:$0
TOTAL:$11,730,988 New option grant: 46,000 ($275,080)
Industry:Health Care Legend Popup
20 Imperial Oil Ltd. Hearn, Tim $11,497,563 Expand details
Salary:$1,100,000 Bonus:$900,000 Subtotal:$2,000,000 7% chg
Other:$418,028 Share Units:$8,302,498 Option Gains:$777,030
TOTAL:$11,497,563 New option grant: 0 ($0)
Industry:Energy Legend Popup
21 Canadian Tire Corp. Sales##, Wayne $11,259,253 Expand details
Salary:$990,000 Bonus:$1,079,555 Subtotal:$2,069,555 -9% chg
Other:$2,651,745 Share Units:$1,613,968 Option Gains:$4,923,994
TOTAL:$11,259,253 New option grant: 0 ($0)
Industry:Consumer Discretionary Legend Popup
22 Ivanhoe Mines Ltd. Friedland, Robert $10,875,000 Expand details
Salary:$0 Bonus:$0 Subtotal:$0 % chg
Other:$0 Share Units:$0 Option Gains:$10,875,000
TOTAL:$10,875,000 New option grant: 0 ($0)
Industry:Materials Legend Popup
23 Inco Ltd. Hand, Scott $10,715,736 Expand details
Salary:$1,240,969 Bonus:$2,416,888 Subtotal:$3,657,857 12% chg
Other:$161,791 Share Units:$2,436,903 Option Gains:$4,459,173
TOTAL:$10,715,736 New option grant: 54,000 ($800,789)
Industry:Materials Legend Popup
24 Onex Corp. Schwartz, Gerald $10,576,533 Expand details
Salary:$781,300 Bonus:$9,795,248 Subtotal:$10,576,548 -15% chg
Other:$0 Share Units:$0 Option Gains:$0
TOTAL:$10,576,533 New option grant: 0 ($0)
Industry:Information Technology Legend Popup
25 Paramount Resources Ltd.(3) Riddell, Clayton $9,981,976 Expand details



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