Wednesday, March 31, 2010
BC Rail: more abuse. Note the Nazi salutes!
BC Rail bleeds taxpayers again
by Maureen Bader
As originally posted: Canadian Taxpayers Federation
March 26, 2010
When it comes to B.C. Crown Corporations, the taxpayer abuse just never ends.
One of the BC Liberal party's 2001 New Era promises was not to sell or privatize BC Rail. To appear to keep that promise after leasing out the rail part of the railroad to CN Rail, the government maintained a high-cost executive. This illusion costs taxpayers an estimated $10 million over the past six years. B.C. taxpayers have paid big to maintain the myth that BC Rail was never sold.
The BC Rail CEO made almost half a million dollars in 2008. He was making even more before the government got tough and cut his bonus and took away his lunch and golf club memberships.
A few months ago, the government finally said they'd wind down BC Rail. Now, after relaxing at the trough all these years taxpayers still gets stuck with a CEO severance payment of $393,000.
Average taxpaying families with children, making about $85,000 per year, are forced to fund these bureaucrat bonanzas.
But it should come as no surprise that our governing class has lost touch with taxpayers' ability to fund these pay jackpots. B.C. politicians gave themselves a 30 per cent pay increase and brought back gold-plated pensions for themselves, so have little moral authority to hold down the excessive pay and perk demands of public sector workers, at any level of the bureaucracy.
Somebody wrote a rebuttal:
BC Liberals took firm action, resulting in change to the combined earnings of four senior executives, Kevin Mahoney, John Lusney, Linda Shute and Gordon Westlake:
2007 $ 1,244,799 2008 $ 1,209,167 Change: - 2.9 %
This modest decline compares with an overall reduction in BCRC operating expenses of 34%. In other words, executive costs rose steeply in proportion to other costs, despite government promises to rein in excesses.
CEO Kevin Mahoney, had his BCRC salary reduction cushioned somewhat because he also served as Chair of the B.C. Transit Board of Directors where he added $19,421 in remuneration and expenses.
And she is right to do so.
However, there is a story brewing about this Casino complex deal that, in my opinion at least, appears to have a number of eerie parallels to the BC Rail deal.
Details can be found at my place here.
Vancouver Law Firm a Big Player in BC Hydro's Clean Energy Call
Stikeman Elliott partner sits on Hydro board; another a major player in Finavera Renewables.
By Will McMartin, Today, TheTyee.ca
CanWest journalists are hypocrites from top to bottom, mostly bottom (as in feeding and licking).