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
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
2	Canadian National Railway Co.	Harrison, Hunter	$56,219,496
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
3	Nortel Networks Corp.(1)	Zafirovski, Mike	$37,429,297
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
4	Canadian Imperial Bank of Commerce	Hunkin##, John	$29,471,306
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
5	Talisman Energy Inc.	Buckee, James	$23,330,301
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
6	Potash Corp. of Saskatchewan	Doyle, William	$22,128,851
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
7	Magna International Inc.	Walker, Donald	$19,557,890
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
8	Power Corp. of Canada	Desmarais, André	$18,844,090
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
9	EnCana Corp.	Morgan##, Gwyn	$18,162,456
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
10	Bank of Nova Scotia	Waugh, Richard	$17,180,536
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
11	Cameco Corp.	Grandey, Gerald	$16,567,579
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
12	Peyto Energy Trust	Gray, Donald	$15,512,035
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
13	TELUS Corp.	Entwistle, Darren	$14,096,690
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
14	Power Corp. of Canada	Desmarais Jr., Paul	$13,881,209
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
15	George Weston Ltd.(2)	Weston, Galen	$13,443,682
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
16	Sherritt International Corp.	Delaney, Ian	$13,254,590
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
17	Alimentation Couche-Tard Inc.	Bouchard, Alain	$12,048,833
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
18	Alcan Inc.	Engen##, Travis	$11,850,529
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
19	MDS Inc.	Rogers##, John	$11,730,988
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
20	Imperial Oil Ltd.	Hearn, Tim	$11,497,563
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
21	Canadian Tire Corp.	Sales##, Wayne	$11,259,253
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
22	Ivanhoe Mines Ltd.	Friedland, Robert	$10,875,000
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
23	Inco Ltd.	Hand, Scott	$10,715,736
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
24	Onex Corp.	Schwartz, Gerald	$10,576,533
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
25	Paramount Resources Ltd.(3)	Riddell, Clayton	$9,981,976

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Liberal Attack Ad Wrong

The Liberal Attack ad, Liberal attack ad about Harper and his contributions 0:30 that is still running on TV, and posted on their website, stating that we don't know where Harper got his money from for his leadership race, or who donated to it,is wrong. We do. As I posted here the other day.

Politics from the Heartlands ~ BC, Canada and the USA has posted more on the background of some of Harpers corporate backers. Harper scored big money

Which includes a link between former Encana President Gwyn Morgan and Anderson consulting. Anderson of course was involved in the Enron scandal and years before that was involved in Bernie Cornfelds mutual fund swindle, which operated out of Ontario in the 1960's. Under Mike Harris Anderson returned to Ontario to work as an advisor on contracting out public services, as did Gwyn Morgans other company, Acceture. Both cost taxpayers millions in cost overruns.
Something about a tiger not changing its spots me thinks.

That being said one has to wonder why the Liberals continue to lie about Harpers donors? Rather than expose them. Oh right cause they also donate to the Liberals. Makes it kinda hard to expose them as bad guys, right.

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The Corporate Friends of Mr.Harper

Below is the list of Corporate donors to Harpers Leadership campaign. The full document of donors of $200 or more can be found here. A tip o the blog to Politicagrll

I have bolded those I find interesting such as;

The Asper media chain, CanWest which just came out in favour of the Conservatives and Harper this election. David Asper also personally donated $200 to Harpers Leadership campaign. David Asper, Steve Posen endorse Conservatives

Peter Kent, St. Paul's Conservative candidate, announces key supporters at Big Tent event

Key Liberals defect and join others in supporting Peter Kent, highlighting his big tent campaign

 Also joining Peter Kent's Big Tent was the Chairman of the National Post,
David Asper. David Asper and his family have been well-known for their past
support for the Liberal Party. In his statement, Mr. Asper said in a prepared
letter of recommendation that, "the need for a man of Peter's integrity became
even more clear to me after hearing the Prime Minister say during the last
English language debate that 'we've got to have a more intelligent debate.
Enough is enough: this idea of drive-by smears doesn't make it true', and then
the next day launch a series of Liberal advertisements that are some of the
most insulting, base attack ads that I have ever seen. The Prime Minister is
correct. Enough is enough. It's time for a change and Peter Kent is someone
who represents not only change itself, but change for the better."

Bell Canada was another big donor. Ironic since the Blogging Tory's have been denouncing Bell/BCE/Bell Global Media as a Liberal front and which I blogged was no such thing. Much Ado About BCE

Encana is the largest gas distribution company in North America, and out going President Gwyn Morgan has been touted to replace Ralph Klein as CEO of Alberta.

One of the interesting ones of is Rio Can Real Estate Investment Trust. Income Trust. Remember them. They pay no taxes, and Monte Solberg and the Conservatives lobbied for them this past six months. CanWest slams Ottawa over handling of trusts

The Corporate Elite Wants You To Vote Conservative For Change.

2004 Conservative Party Leadership Event
Contribution reporting for donations in excess of $200
Name of Leadership Candidate Stephen Harper
Contributor or Corporate Name
Contribution

Burns West Coporation 2 ,000
Ifco Systems Canada Inc 5 ,000
715502 Alberta Ltd -- David Malwry 2 50
866615 Ontario Inc. 3 00
Alexander Tools Limited 2 0,000
Alkin Corporation 1 ,000
Atkinson & Atkinson 5 00
Axor 1 0,000
Balboa Land Investment Inc 1 ,000
Bell 2 0,000
Bellport Resources Ltd 3 ,000
Bennett Insurance Agency Ltd. 5 00
Bicklette Limited 1 ,000
Canaccord Capital Corp 3 0,000
Canwest Media Inc 2 0,000
Capital Hill Group Ottawa Inc 1 ,000
Capital Sports Properties Inc. 5 00
Caplan Industries 1 ,000
Caplan Industries Inc 1 ,000
Career Essentials Inc 1 ,000
Cement Association of Canada 5 00
Comdel Developments Inc 5 ,000
Copps Buildall 1 ,500
Credit Suisse First Boston 6 ,000
Crystal Glass 5 00
DWPV Management Ltd. 2 ,500
Eastern Hemlock Limited 5 ,000
EF Moon Construction Ltd 5 00
E-L Finacial Corporation Ltd. 1 0,000
EnCana Corporation 2 5,000
Future Electronics Inc 5 ,000
Garwood 1 ,000
George Weston Ltd 8 ,500
Giant Tiger Stores Ltd. 5 ,000
GlaxoSmithKline Inc. 1 ,000
Goodmans LLP 5 ,000
Grant Forest Products Inc 2 5,000
Gunnar Office Furnishings 5 ,000
Haven Manor Inc. 5 00
Heathbridge Graham Inc. 5 00
Hill & Knowlton 5 00
Hill & Knowlton 5 00
IGRG Inc. 5 00
INCO Ltd 5 ,000
Inkan Group 7 50
Internationl Forest Products Ltd 2 ,000
J & S Hokanson Investments Ltd 5 50
Kathnan Investments Limited 5 ,000
Key Maintenance Technologies 2 50
Krakiwsky Consulting Ltd 1 ,000
Lamplighter Inns (London) Limited 1 ,500
Lincoln-McKay Development - 135482 Canada Inc 1 ,000
Lopresti Pharmacy 1988 Ltd. 4 00
Maceachern's Deep Steam 1 ,750
Macleod Dixon LLP 2 ,500
McDowell Brothers Industries Inc 4 00
McMillan Binch LLP 1 ,000
O & Y Properties 1 0,000
Onex Corporation 1 0,000
Orlick Industries Limited 3 0,000
Pfizer Canada Inc 2 ,500
Pfizer Canada Inc. 5 00
PMA Brethour Real Estate Corporation 5 ,000
PMA Brethour Real Estate Corportation 5 ,000
Power Corporation of Canada 2 5,000
Promographix Inc. 5 00
R & D 2 ,000
Rio Can Real Estate Investment Trust 5 ,000
River Oaks Developments Inc 5 ,000
RNH Holding Ltd. 1 ,000
RSW International Inc 1 ,000
Shelter Canadian Properties Limited 1 ,000
Silver Sage Holdings & Development Ltd 1 ,100
SolowayWright SW Management 1 ,000
St Lawrence Starch Ltd 1 ,000
Summit Insurance Brokers Inc 1 ,500
The Logit Group 2 ,000
The Responsive Marketing Group 5 ,000
Torys LLP 5 ,000
Walton Management Inc 3 50
Weatons Holdings Limited 2 0,000
Whippoorwill Holdings Limited 3 0,000

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