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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Mortons Homophobia Rebuked

In a move that exemplifies how parliamentary democracy can allow a very tiny minority to overturn a dangerous bill, the NDP and Liberals in the Alberta legislature defeated right wing ,would be fuerher of the PC's, Ted Mortons private members bill to allow hate speech against gays and lesbians.

Time runs out for passage of Alta private bill denounced as anti-gay

Opposition members used stalling tactics Monday to prevent final passage of Bill 208, effectively killing the legislation as the spring sitting winds down. "It's a sad day for democracy when the Liberals and ND's won't allow a debate on an issue this important," said Ted Morton, the rookie government member and Tory leadership contender who sponsored the bill.

And as I said he is pandering to the social conservative rump in the PC party.

Morton concedes his legislation is dead for now, but he's promising to make it an issue during the leadership contest to replace Klein as Alberta's Conservative leader.

Klein supports private anti-gay marriage bill Of course he did he his after all a demogaouge populist. Here is the irony though Brokeback Mountain is putting Alberta on the tourist map. For gay tourists. Yep welcome to the land of gay bashing cowboys. Opps.

City's gay community outraged by Bill 208

Winds of intolerance are blowing in Alberta

Fundamentalism Being Entrenched into Albertan Politics

ATA gives Morton’s Bill 208 a failing grade

Also See Same Sex Marriage

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Sentience

Where I agree with the animal rights activists is that we must confront our species chauvinism

Fellow Progressive blogger Nunc Scio reports that another one of our deeply held chauvinistic beliefs has bit the dust. Dolphins have names?

What is ironic is that there are those who insist that while animals have no sentience, artifical intelligence; man made computers/robots, can.

One of the oldest ideas in philosophy is that animals act in a machine-like fashion with no conscious thought processes of any kind. The more we find out about animals, the more this idea is disappearing. Evidence is growing that animals have far more cognitive abilities than has traditionally been believed - they are sentient creatures. Animal Sentience Conference - London 2005

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