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
1Precision Drilling Trust Swartout, Hank $74,824,335 2 Canadian National Railway Co. Harrison, Hunter $56,219,496 3 Nortel Networks Corp.(1) Zafirovski, Mike $37,429,297 4 Canadian Imperial Bank of Commerce Hunkin##, John $29,471,306 5 Talisman Energy Inc. Buckee, James $23,330,301 6 Potash Corp. of Saskatchewan Doyle, William $22,128,851 7 Magna International Inc. Walker, Donald $19,557,890 8 Power Corp. of Canada Desmarais, André $18,844,090 9 EnCana Corp. Morgan##, Gwyn $18,162,456 10 Bank of Nova Scotia Waugh, Richard $17,180,536 11 Cameco Corp. Grandey, Gerald $16,567,579 12 Peyto Energy Trust Gray, Donald $15,512,035 13 TELUS Corp. Entwistle, Darren $14,096,690 14 Power Corp. of Canada Desmarais Jr., Paul $13,881,209 15 George Weston Ltd.(2) Weston, Galen $13,443,682 16 Sherritt International Corp. Delaney, Ian $13,254,590 17 Alimentation Couche-Tard Inc. Bouchard, Alain $12,048,833 18 Alcan Inc. Engen##, Travis $11,850,529 19 MDS Inc. Rogers##, John $11,730,988 20 Imperial Oil Ltd. Hearn, Tim $11,497,563 21 Canadian Tire Corp. Sales##, Wayne $11,259,253 22 Ivanhoe Mines Ltd. Friedland, Robert $10,875,000 23 Inco Ltd. Hand, Scott $10,715,736 24 Onex Corp. Schwartz, Gerald $10,576,533 25 Paramount Resources Ltd.(3) Riddell, Clayton $9,981,976
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